Copper is a metal that is traded internationally, and in Kenya, it is traded as a commodity. In 2020, copper ores and concentrates represented 0.016% of Kenya’s total merchandise exports, which were valued at $ 6.02 billion. This represents a 0.016 percent increase over 2019, when the amount of merchandise exported from Kenya totaled $ 5.83 billion.
Price of copper
In 2021, the average price of refined copper for Kenya was $X. This figure was on the rise after two years of decline. The value of Kenya’s copper exports increased by X% during this period. The country’s largest destination for copper exports was Ethiopia, which saw a +X% average annual growth rate.
In 2021, China was the largest producer of refined copper, followed by Russia, the Democratic Republic of the Congo, Nigeria, and Indonesia. Despite the higher prices, the supply of copper from these countries lagged behind the demand in the country. Other suppliers of refined copper included the Netherlands, Australia, Kazakhstan, India, and Mexico.
Sources of copper
Kenyans should be concerned about the presence of heavy metals in their food supply. The presence of heavy metals, such as lead and mercury, in our food should be a concern, especially for children. It is not clear how copper has made its way into our food supply, but it may have been introduced to our water and soil by anthropogenic processes.
Copper is a trace mineral that is present in most body tissues. It plays an important role in red blood cells, nerve cells, the immune system, and energy production. It also helps the body form collagen and absorb iron. Deficiencies of copper can lead to cardiovascular disease and other problems. Some people even develop Menkes disease, a condition caused by an insufficient supply of copper.
Markets for copper
Kenya’s market for copper is highly dependent on foreign imports. In the last decade, it has increased by over ten percent yearly, with imports from the Netherlands accounting for the largest share. The second largest supplier, the UK, provided X% of total imports in 2021. As of 2017, the average copper export price in Kenya was $7708 per tonne.
Despite this, despite the fact that Kenya has good copper deposits, these deposits have not yet been exploited for the country’s economic growth. Some believe this is due to a lack of capital and technology.
Trends in the market
Copper exports from Kenya reached a peak of $X in 2012, but subsequently decreased. The Netherlands were the country’s main copper suppliers, accounting for more than ten percent of the total copper imports. From 2013 to 2021, copper imports from the Netherlands increased by X% per year, exceeding the UK’s ten percent growth rate. The average export price for copper was $7708 per ton in 2020.
The value of the copper trade in Kenya decreased by -X% to $X in 2021. The growth rate for the entire output value was +X% a year over the past nine years. The trend pattern showed visible fluctuations throughout the analyzed period, but the most significant growth was seen in 2014, when production volume increased by X%. Despite the decline in production over the next two years, the value remained at a higher level than in 2015.
