Price of Nigerian cashew nuts jumps up 188% in international market

The price of cashew nuts from Nigeria has recorded a 188.8 per cent increase in the international market, the  President, National Cashew Association of Nigeria (NCAN), Mr Olatunji Owoeye, has said

At the flag off of this year’s cashew trading season in Anyingba in Kogi on Tuesday Owoeye said that the price jumped from N45,000 per tonne to N130,000 per tonne.
Cashew producing states in the country are Kogi, Kwara, Oyo, Niger, Imo, Enugu, Abia, Kaduna and Federal Capital Territory.
Owoeye said the current price of cashew nuts, which is determined by market forces, was a good omen for the country’s economy.
He said that cashew nuts from Nigeria were now the toast of buyers in the international market.
He attributed the development to improvement in quality and packaging and adherence to international standards.
He said members of the association were made up of cashew exporters, processors, cashew farmers, licensed buying agents, as well as owners of warehouses.
He said that the association had commenced negotiations with some foreign investors to establish cashew processing plants in the country.
Owoeye said that the problems of storage, multiple taxation and influx of quacks into the industry were being handled at the appropriate quarters and warned stakeholders not to indulge in sharp practices.
He thanked the Federal Government for encouraging the production and marketing of cashew nuts, adding that there was the need for the government to check smuggling of the product into neighbouring countries.
He also urged the government to assist the association in the regeneration of cashew plantations across the country and appealed to Nigerians to increase consumption of cashew products.
In his address, Alhaji Ichapi Mohammed, the Vice President of the association, stressed the need for Nigeria to increase its participation in the global cashew nut market.
He said the situation where the country only sold raw cashew nuts and kernel out of the 99 by-products derivable from the commodity called for a concern.
He appealed to banks to show more interest in the sector by assisting farmers with credit facility to boost production and develop the country’s potential of becoming the leading exporter of cashew products in Africa
Mohammed also appealed to the federal and state governments to extend agricultural loans to cashew farmers to enable them expand their farms and replace aged cashew trees.
“This will increase the income of the farmers and create employment opportunities for people living in the rural areas of the country,” he said.  (NAN)
(Source: http://www.vanguardngr.com/2011/02/price-of-nigerian-cashew-nuts-jumps-up-188-in-international-market/)

Cashew trade threatened by political crisis in Ivory Coast

Delay and uncertainty in the supply of raw cashew nuts from Ivory Coast due to political unrest is causing major concerns for the cashew trade.

Ivory Coast is major supplier of quality raw cashew to India and produces nearly 4 lakh tonne of raw nuts annually. The situation is compounded by the delay in arrival of raw nuts in India and Vietnam due to erratic rains.

Indian cashew production, which accounts for more than a fifth of the global production, is slated to come down during 2010-11 due to atypical rains and erratic temperature in the producing region, officials of the Kochi-based Directorate of Cashew and Cocoa Development (DACCD) said.

The cashew crop for 2011 is likely to b delayed by more than a month due to slower and fewer flowering, DACCD sources said. “Normally the Kerala crop comes to the market by February. So far we have not seen any arrivals of Kerala crop,” Pratap Nair of Vijayalakshmi Cashews said.

According to the data provided by the agency, Indian production during 2009-10 stood at 6.13 lakh tonne. During 2008-09 it was around 6.95 lakh tonne and 6.6 lakh tonne in 2007-08. India has to import more than half of its requirement of raw cashew due to the poor production.

“Unseasonal rains in Vietnam are also causing concerns. Drying is a problem and this will affect kernel yield. Crop size may also be lower if rains do not stop,” Pankaj Sampat of Samsons Trading told FE and added that it this could lead to squeeze in kernel supplies in the second quarter. India and Vietnam account for more than 50 % of the global cashew production.

“Political unrest in Ivory Coast is a major problem for India as it sources a large chunk of its requirement from the country,” Pratap Nair said. “Banks and borders are closed in Ivory Coast. Ships are not docking in the ports,”he said.

Raw cashew nuts pipeline is empty and until the gap is bridged, raw nut prices are unlikely to ease, Pankaj said.

“Shipments from Nigeria and Benin have started. Ghana and Ivory Coast shipments are expected to start soon. Shellers hope that shipments will pick up in April and provide relief from the tight supply,” he added.

Pratap feels that the demand is still robust and not affected by problems in Japan. “There is some disruption in West Asia .The effects of increased raw kernel prices in US and Europe will only be known after March,” he added.

(Source: http://www.financialexpress.com/news/cashew-trade-threatened-by-political-crisis-in-ivory-coast/768547/0)

Export Product Profile: Raw Cashew Nuts

Description: Cashew (Anacardium Occidentale L.) is a tree crop of considerable economic importance to Nigeria and other tropical countries. Apart from being a source of useful products and byproducts for food, medicinal and industrial applications, cashew gives also a useful shade, while ornamental and alley trees are suitable for the control of soil erosion, particularly for the protection of watersheds and dams.
Harvest: Cashew nut setting begins in the middle of dry season, while harvesting takes place mainly in February or March. The entire harvest period occupies about 16 weeks. In the Eastern and Western parts of the country, where quality cashew nuts are grown, nuts are allowed to drop to the ground before they are collected. This practice ensures that only ripe nuts are collected. Nuts normally fall to the ground with their apples attached; the two are normally separated with a twisting action during collection. The remnants of the apple flash adhering to the nuts are removed with a sharp knife. After picking, the nuts are dried in the sun for 2 to 3 days, to reduce their moisture content to about 12 %. Properly dried nuts are packed in jute bags and can be kept for 6 to 10 months, if stored in suitable condition.
Locations: Major cashew growing areas in Nigeria are, by order of importance: Enugu, Abia, Imo, Anambra, Ebonyi and Cross River States in the eastern part of the country; Oyo, Osun, Ondo, Ekiti and Ogun States in the Western part, as well as Kwara, Kogi, Nassarawa, Benue, Taraba, Niger and FCT in the Middle Belt and also Sokoto and Kebbi States in the North West part of the country. The majority of export quality nuts come from the Western and Eastern parts of the country.
Specification: According to SGS (quality inspectors), the standard for raw cashew nuts, unshelled, is specified as follows:
i. Nut count 180-200 per kg
ii. Moisture content 8-10% max
iii. Defective nuts 15% max
iv. Float Rate 18% max
v. Admixture 0.25% max
vi. Foreign matter 0.25% max
vii. KoR, or shelling out-turn 48-50 Ibs/bag
(Obiazu, P. C.,(2000) ‘Quality Requirements for Nigeria Agricultural Products’. Unpublished Seminar Paper.)
Uses: The cashew nut is a popular snack, and its rich flavor means that it is often eaten on its own, lightly salted or sugared. In addition to this, cashew nutshell liquid (CNSL), a by-product of processing cashew, is mostly composed of anacardic acids. These acids have been used effectively against tooth abscesses due to their lethality to bacteria.
Export market: The major buyers of cashew nut from Nigeria are mainly India and Singapore. Smaller percentage goes to Europe.
Export price: The export free on board (fob) price of raw cashew nut varies from about USD 500-600/MT. However, when an exporter adds value to this product by processing it into kernels, the fob price could quadruple that of raw cashew nut.
Local price: The local price per metric tonne MT for raw cashew nuts delivered EXW Lagos (delivered in Lagos) varies from NGN40,000.00 during the peak season to about NGN80,000.00 at the off season.

Understanding Cashew Nuts Quality Specifications

The crop season in West Africa is from March to June.There is not a general standard for cashew nuts but some parameters can establish the quality of the cashew and the appreciation on the market
1 - Out-turn / Yield
It is the quantity of cashew kernel that can be obtained after decorticating (remove the shell of a cashew nut) 80 kg of raw cashew nuts. The count is in pounds per 80kg.
A good out turn is from 43 to 48 lbs
An excellent out turn is from 48 to 55 lbs
2-. Nut count
It is the number or raw cashew nuts per kg
170 excellent
180-190 very good
190-200 good
200-210 middle
210-220 low middle
230 limit acceptable
lower: poor
Please note that:
- It is necessary to balance this information with the out-turn
- In West Africa most of the raw cashew nuts, depending the year, have a nut count from 190 to 210.
3- Moisture / Humidity
For export 12% and less otherwise there are risks for the goods during the shipping           
4- Foreign matter
5% max
5- Defective
Lower than 10%
6- Float Rate
This is the total number of cashew nuts that will float when poured into water.  A good float rate is  18%max

Export Product Profile: Sesame Seeds

Description: Sesame seeds (or sesamum or benniseed) are the seeds of the tropical annual Sesamum indicum. The species has a long history of cultivation, mostly for its yield of oil. The original area of domestication of sesame is obscure but it seems likely to have first been brought into cultivation in Asia or India.
The plant is usually 60 to 120cm tall and the fruit is a dehiscent capsule held close to the stem. When ripe, the capsule shatters to release a number of small seeds. The seeds are protected by a fibrous ‘hull’ or skin, which may be whitish to brown or black depending on the variety. 1000 seeds weigh some 4-8g. The seeds have a high oil content of 44-60%.
Harvest: Harvesting begins in late December and continues through July. Each producing area stated in the next section below (Locations) has only one season.
Locations: The major producing areas in order of priority are Nasarawa, Jigawa and Benue States. Other important areas of production are found in Yobe, Kano, Katsina, Kogi, Gombe and Plateau States. The major marketing centers (towns and states) of sesame seeds in Nigeria.

Town	State
Doma	Nasarawa
Malam-Madori	Jigawa
Potiskum	Yobe
Oturkpo	Benue
Dawanau	Kano

Types/Varieties: There are 3 types of sesame (and these include: White, Black and Brown/Mixed sesame seeds). However only two of these are majorly produced in Nigeria and these includes;
1. White/raw = Food-grade used in bakery industry. 98-100% whitest grade seeds.
2. Brown/mixed = primarily oil-grade.
The White (Food Grade) seed is grown around the towns of Keffi, Lafia/Makurdi, Doma, and in Nassarawa, Taraba, and Benue States. It is easier to sort and the Fumani/Denin people consume sesame locally. The Brown/mixed grows in the North, in Kano State and in Jigawa State near Hadejia, and somewhat in the southern part of Katsina State.
Specifications

Features	% percentage
Oil content	45-60% min
Impurities	0-2%max
Free fatty acid (FFA)	1-2%max
Moisture content	6-9% max

Uses: Most sesame is processed directly into oil by the grower or within the producing region, but can also be sold in various stages of processing, for various uses, such as meal, paste, confections, and bakery products.

Input	Products	Description and Uses
Seeds	Confectionery	Fried seeds may be bound together with sugar syrup to give sweetmeats.
Seeds	Biscuits	The whole seeds can be baked into biscuits.
(Hulled) seeds	Bakery	Popular in northern Europe either incorporated into breads or as decorative toppings. May be used hulled or whole.
Seeds, sometimes roasted	Oil	Particularly used in oriental cuisine. The flavor is quite strong and rarely compatible with traditional Western style cooking but also used as a salad oil.
Oil	Medicinal treatment	Ulcers and burns
Oil	Margarine	Once an important use, now other cheaper vegetable oils are available
Oil	Aerosol	Reported use as a synergist for pyrethrum sprays
Low grade oil	Various	Soaps paints, lubricants, and illuminants. Local uses, of no importance in international trade
Hulled seeds	Tahini	A paste of sesame seeds which is used as an ingredient in eastern Mediterranean and Middle Eastern foods
Tahini	Dips &spreads	Various ingredients, such as chickpeas or eggplants, are added to Tahini to make dips and spreads such as hummus
Tahini	Halva	A sweet made from Tahini and sugar with other added flavorings
Cake	Animal feed	Protein rich useful supplement
Cake from hulled seeds	Ingredient	Used in some Indian cooking. Also as a snack in, for example, the Nigerian Kulikuli

Export market: The major importer of sesame seeds in the world is Japan while the major consuming markets in the EU are Greece, Germany, the Netherlands and the UK. In the past, the bulk of sesame was imported from China. Increasingly, other sources such as India, Sudan and, most recently, Pakistan, are taking the market share. The USA is the fifth largest import market with a steady demand for over 50,000 tonnes per year.
Export Price: The export free on board price of sesame seed varies from USD 900 -1400/MT depending on the type and form of the sesame seed and the negotiation made with the buyers.
Local price: local price per metric tonne MT of sesame seed varies from NGN80,000.00 during the peak season to about NGN120,000.00 at the off season. However local price when delivered EXW Lagos (delivered in Lagos) could range from NGN 130,000 – 160,000.00.

Export Product Profile: Ginger

Description: Ginger (Zingiber Officinale) is a commodity that is highly valued in international markets for its aroma, pungency and high oil and Aleo resin content. Nigeria is the third largest exporter of ginger in the world after China and India. Most of the dried ginger that are available for international trade are simply sun dried over a few days, but artificial drying is also used in areas lacking a defined dry season to coincide with the harvest. The rhizome is dried to between 10 and 12 per cent moisture content. Dried ginger is usually presented in a split or sliced form. Splitting is said to be preferred to slicing, as slicing loses more flavour, but the sliced are easier to grind and this is the predominant form of dried ginger currently in the market.

Harvest: harvesting of ginger starts from October and normally continues until April/May. This largely depends on the market situation as ginger can be left on the ground (not harvested) for two years.

Locations: Ginger is produced in six states of the Federation namely, Kaduna, Nasarawa, Benue, Niger and Gombe with Kaduna as the major producer. Nigeria's production in 2005 was estimated at 110,000 metric tonnes (FAO). Out of this, 10% is locally consumed as fresh ginger while 90% is dried primarily for the export markets.

Specifications:

Moisture content:                 6-9% max

Oil content:                            1-2%

Impurities:                             0-2%max

Uses: The list of ginger uses is almost endless, being a pungent spicy herb and one of the more popular food spices. They range from baked products like gingerbread, ginger biscuits, ginger cookies to drinks like ginger tea, ginger beer, ginger ale, etc. Ginger contains about two per cent essential oil. The oil is extracted and distilled from rhizomes for various uses in confectionery, perfumery, beverages and pharmaceuticals. Dried ginger is used predominantly for flavouring coffee especially in the Middle East. It contains medicinal qualities and it is also used to calm nausea and aids digestion. Dried ginger is used in many different cooking methods. It is an important spice in Asia, the Caribbean and African cooking.

Export market: The export markets for ginger include the United Kingdom, Germany, Spain, Netherlands, France, United States of America, Russia, Saudi Arabia among others.

Export Price: The export free on board price of ginger ranges from USD 2500 -2600/MT depending on the type and form in which the ginger is packaged and also the negotiation made with the buyers.

Local price: The local price of of dry split ginger deliver to Lagos from kafanchan in Kaduna state varies from N270,000 and N300,000.

Product Profiles: Cocoa Beans

Description: Cocoa bean (also cacao bean, often simply cocoa and cacao) is the dried and fully fermented fatty seed of Theobroma cacao, from which cocoa solids and cocoa butter are extracted. A cocoa pod (fruit) has a rough leathery rind about 3 cm thick (this varies with the origin and variety of pod). It is filled with sweet, mucilaginous pulp (called 'baba de cacao' in South America) enclosing 30 to 50 large seeds that are fairly soft and pale pink or lavender in color. Seeds usually are white, becoming violet or reddish brown during the drying process. The exception is rare varieties of white cacao, in which the seeds remain white. Historically, white cacao was cultivated by the Rama people of Nicaragua. It provides means of livelihood, sustenance and employment opportunities to over five million Nigerians, In the year 2005 alone, export revenue from the sale of cocoa amounted to US$136.7 million. Nigeria along with Cote d'lvoire and Ghana all in West Africa, account for about 70% of the world's cocoa production.

World Producers: The four major West African cocoa producers are the Ivory Coast, Ghana, Nigeria and Cameroon. The Ivory Coast produces about 43 percent of the world's cocoa. The next largest producer is Ghana with about 14 percent of the world's output. Nigeria produces about 6 percent of the world's cocoa. Outside of West Africa, the major producers of cocoa are Indonesia, Brazil, Malaysia, Ecuador, and the Dominican Republic. Cocoa producers like Ghana and Indonesia have been making efforts to increase cocoa production while producers like Malaysia have been switching to other crops.

Harvest: Cocoa trees reach maturity in 5-6 years but can live to be 50 years or more. During the course of a growing season, the cocoa tree will produce thousands of flowers but only a few will develop into cocoa pods. The typical production pattern is for a large main crop to be followed by a smaller mid crop. In West Africa, the main crop harvest starts in the September-October period and can extend into the January-March period. That is followed by the smaller mid crop harvest which is usually of lower quality than the main crop.

Locations: Cocoa beans is produced in 16 states of the federation namely Ondo, Cross River, Oyo, Osun, Ekiti, Ogun, Edo, Kogi, Akwa Ibom, Delta, Abia, Kwara, Ebonyi, Rivers, Taraba and Adamawa with an annual production of 400,000 metric tonnes however 98% of this is exported. OndoState is the highest cocoa producing State in Nigeria and Idanre is the hub of cocoa Production in the state.

Specifications:

• Moisture                6-8 % 
• Bean Counts        100-115 beans per 100g
• Moulds                   3-5 % 
• Slaty                       4-5 %
• E.Coli                     Negative
• Broken beans       2 -3%
• Impurity                 2-4 %

 Uses: Cocoa seeds are the source of commercial cocoa (cocoa beans), the four intermediate cocoa products (cocoa liquor, cocoa butter, cocoa cake and cocoa powder) and chocolate. Although the market for chocolate is the largest consumer of cocoa in terms of bean equivalent, intermediate products such as cocoa powder and cocoa butter are used in several areas.

Cocoa powder is essentially used as flavor in biscuits, ice cream, dairy drinks and cakes. Apart its use as flavor it is also used in the manufacture of coatings for confectioners or frozen desserts. Cocoa powder is also consumed by the beverage industry for example for the preparation of chocolate milk.

Besides the traditional uses in chocolate manufacture and confectionery, cocoa butter is also used in the manufacture of tobacco, soap and cosmetics. It is also a folk remedy for burns, cough, dry lips, fever, malaria, rheumatism, snakebite and wounds. It is reported to be antiseptic and diuretic.

Export market: Major market destinations for Nigeria's Cocoa are: Netherlands, U.K., France, Germany, Spain, Italy, USA and Japan. Other markets being explored are the emerging economic powers of China and India.

Export Price: The export free on board price of cocoa beans has fluctuated between USD3,000-3,500/MT from January to August 2010.

Local price: The local market price of raw cocoa beans per MT ranges from NGN400,000.00 to NGN500,00.00 to deliver it to Lagos during the season and also when the commodity is off the season.

Nigerian Major Export Destinations

Step By Step Export Processes

Product Profiles: Shea Nuts

Description:. Shea nuts are primarily grown in West and Central Africa in the semi-arid Sahel,referred to by traders as the "Shea Belt". Vitellaria paradoxa and Vitellaria nilotica are the two main varieties. Vitellaria paradoxa is exported in the largest volume and grows throughout the West African region.Vitellaria nilotica is produced primarily in northern Uganda and southern Sudan.

Harvest: Shea nut trees grow widely and naturally in West Africa. They only begin to bear fruit after about 20 years and do not reach maturity for 45 years. They may continue to produce nuts for up to 200 years after reaching maturity.  The nuts, which are embedded in a soft fruit, fall to the ground during the harvesting period (typically June through August). They are then buried in pits which cause the pulp to ferment and disintegrate and produce enough heat to prevent germination. The nuts are dried for a few days and are later shelled and winnowed, usually by hand. The kernels are dried further to reduce moisture content from about 40 percent to about 7 percent.

Locations: Sheanut grows in the wild across the Sudan-Sahelian region of Africa. The major producing countries are: Nigeria, Togo, Benin, Ghana, Uganda, Mali, Burkina Faso and Central African Republic. Nigeria is currently the leading producer of Sheanut in the world and in 2004 Nigeria's production of the commodity was 414,000 metric tonnes with export value of US$61.04 million (Source: FAO).  Shea nut is grown in Kwara, Kogi, Niger, Oyo and Ogun state. It can also be found in a number of the northern states of Nigeria.

Specifications: Individual companies specify their own quality standards for purchases of shea nuts. The following is a benchmark for the composition of the shea nut required for import:

·         Free Fatty Acids (FFA) = less than or equal to 6%

·         Moisture Content = less than or equal to 10%

·         Oil Content = greater than or equal to 45%

·         Latex = 4-10%

·         Impurity= 0-2%

The oil content is the most crucial element of the shea nut as that component is an important ingredient in the composition of the butter that goes into Cocoa Butter Equivalents and other by-products. If the oil content is higher and the FFA and moisture content is lower, then the exporter will receive a price premium.

Uses: Shea nuts are mainly use in the production of Shea Butter. Therefore all the uses of shea nuts are invariably embedded in the economic importance of Shea Butter. This information can be found under the Shea butter product profiles on this blog. Click this link for these details http://exportnigeria.blogspot.com/2010/08/product-profiles-shea-butter_6444.html

Export market: A few companies based in Europe control the import market for shea nuts. Their main clients are chocolate manufacturers as the shea nut by-products are among the principal ingredients in cocoa butter equivalents (CBEs). Major destinations for Nigeria's Sheanut are the EU and Japan. Major European importing companies are primarily based in Denmark, Sweden and the UK.

Export Price: The export market price on FOB terms ranges from USD350-650/MT and sometimes or even more depending on the period during its season.

Local price: The local market price of shea nuts per MT ranges from NGN40,000 to NGN80,00.00 or even more to deliver it to Lagos during the season.

Product Profiles:Lead Ore

Description: Lead is a main-group element with symbol Pb (Latin: plumbum) and atomic number 82.it is a soft, malleable poor metal. It is also counted as one of the heavy metals. Metallic lead has a bluish-white color after being freshly cut, but it soon tarnishes to a dull grayish color when exposed to air. Lead has a shiny chrome-silver luster when it is melted into a liquid.

Occurrence: Metallic lead does occur in nature, but it is rare. Lead is usually found in ore with  zinc, silver and (most abundantly) copper, and is extracted together with these metals. The main lead mineral is galena (PbS), which contains 86.6% lead. Other common varieties are cerussite  (PbCO₃) and anglesite (PbSO₄).

Locations: Lead-Zinc occurrences in Nigeria are associated with saline water intrusion in the sedimentary basins or fractured / shear zones in crystalline rocks. The mineralisation is often associated with minor to significant amounts of copper and silver, occurring in lodes filing the fractures within the sedimentary rocks in the Benue Trough as well as in crystalline basement rocks as shown in recent studies by Nigerian Geological Survey Agency. Precisely, Lead/Zinc deposit kind be found in the follow states in Nigeria viz; Nasarawa, Taraba, Plateau, Abia, Ebonyi, Bauchi and Abuja.

The general geology of lower Benue Trough in Abakaliki area is made up of thick sequences (500m) of slightly deformed cretaceous sedimentary rocks made up of essentially of albian shales, subordinate siltstones of the Asu River Group.

There is also the presence of Volcanic and Pyroclastic materials forming elongated conical hills in the cores of the anticlinal Structures. The Abakaliki Lead-Zinc is believed to be of hydrothermal origin emplaced at a low temperature of about 140°C and it is made up of primarily four lodes namely Ishiagu, Enyigba, Ameri and Ameka in the lower Benue Trough located in Ebonyi State.

Other locations of lead ore in Nigeria include Bauchi, Gombe, Plateau, Nassarawa and Zamfara

Specifications: This varies from one buyer to the other. However generally most buyers will prefer the specifications stated in the table below. The lead content could vary from one buyer to the other, but generally for most importers, the other constituent should not be more than the stated percentage.

Pb	As	Rh	Fe	Ca	Zn	Ni	Cu
40-75%	0.3%	NIL	10.5%	0.11%	3.25%	0.01%	0.35%
Ba	Mn	La	Yb	S	Moisture	Size
0.01%	0.2%	NIL	NIL	12.2%	5% max	0-50mm

Uses: Lead is used in building construction, lead-acid batteries, bullets and shots, weights, as part of solders, pewters, fusible

Alloys and as a radiation shield. Lead has the highest atomic number of all of the stable elements. Lead is a major constituent of Lead- Acid battery. Lead is used as a colouring element in ceramic glazes, notably in the colors red and yellow. Lead is used as projectiles for firearms and fishing sinkers because of its density. Low cost compared to alternative products and ease of use due to relatively low melting point. Lead is also used in high voltage power cables as sheathing material to prevent water diffusion into insulation.

Export market: The market for lead ore especially the overseas market in China is large, expanding and sustainable because of the numerous uses of ore. Buyers usually would like to secure steady source of supply of these products. An exporter that is able to secure a contract at the right price would have an uphill task meeting the demand of the buyer because the output from the mines in Nigeria is low due to the use of crude implement. Other market includes India and some European countries like Germany, Spain and Belgium.

Export Price: Depending on the percentage purity of the lead ore and the prevailing London metal exchange (lme.com) price, the FOB price of lead ore could vary from USD600-USD900/MT.

Local price: Depending on the percentage purity and of the lead, the local market price at the loading point could vary from NGN40,000-NGN70,000/MT