Price for Lac; Natural Gums, Resins, Gum-Resins and Balsams in Oman - 2022

Contents:

1. Price for Lac; Natural Gums, Resins, Gum-Resins and Balsams in Oman (FOB) - 2022
2. Price for Lac; Natural Gums, Resins, Gum-Resins and Balsams in Oman (CIF) - 2022
3. Exports of Lac; Natural Gums, Resins, Gum-Resins and Balsams in Oman
4. Imports of Lac; Natural Gums, Resins, Gum-Resins and Balsams in Oman

Price for Lac; Natural Gums, Resins, Gum-Resins and Balsams in Oman (FOB) - 2022

The average export price for lac; natural gums, resins, gum-resins and balsamses stood at $5,976 per ton in 2022, reducing by -61.9% against the previous year. Overall, the export price saw a deep slump. The pace of growth appeared the most rapid in 2016 an increase of 249% against the previous year. Over the period under review, the average export prices hit record highs at $21,759 per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($34,475 per ton), while the average price for exports to the United Arab Emirates ($2,730 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Qatar (+15.4%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Lac; Natural Gums, Resins, Gum-Resins and Balsams in Oman (CIF) - 2022

The average import price for lac; natural gums, resins, gum-resins and balsamses stood at $6,469 per ton in 2022, surging by 148% against the previous year. Over the period under review, the import price showed a tangible expansion. Over the period under review, average import prices attained the maximum at $7,334 per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($9,473 per ton), while the price for Jordan ($3,612 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+61.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports of Lac; Natural Gums, Resins, Gum-Resins and Balsams in Oman

Exports of lac; natural gums, resins, gum-resins and balsamses from Oman surged to 95 tons in 2022, with an increase of 64% against the year before. Overall, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 65%. Over the period under review, the exports of attained the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, exports of lac; natural gums, resins, gum-resins and balsamses reduced markedly to $567K in 2022. In general, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when exports increased by 31%.

Top Export Markets for Lac; Natural Gums, Resins, Gum-Resins and Balsams from Oman in 2022:

1. United Arab Emirates (60.0 tons)
2. Saudi Arabia (15.6 tons)
3. Croatia (3.8 tons)
4. Qatar (3.4 tons)
5. Somalia (3.3 tons)
6. Kuwait (3.3 tons)
7. Germany (1.3 tons)
8. Bahrain (1.1 tons)

Imports of Lac; Natural Gums, Resins, Gum-Resins and Balsams in Oman

In 2022, the amount of lac; natural gums, resins, gum-resins and balsamses imported into Oman contracted sharply to 43 tons, shrinking by -58.6% compared with 2021 figures. Over the period under review, imports showed a perceptible decrease. The pace of growth appeared the most rapid in 2021 with an increase of 132% against the previous year. As a result, imports reached the peak of 103 tons, and then shrank remarkably in the following year.

In value terms, imports of lac; natural gums, resins, gum-resins and balsamses expanded slightly to $275K in 2022. The total import value increased at an average annual rate of +6.2% over the period from 2019 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 when imports increased by 11% against the previous year. Over the period under review, imports of attained the peak figure in 2022 and are expected to retain growth in the near future.

Top Suppliers of Lac; Natural Gums, Resins, Gum-Resins and Balsams to Oman in 2022:

1. United Arab Emirates (20.7 tons)
2. India (12.8 tons)
3. Somalia (4.3 tons)
4. Jordan (3.7 tons)

Source: IndexBox Market Intelligence Platform