Gum Arabic Price in Venezuela - 2022

Gum Arabic Price in Venezuela (CIF) - 2022

In 2022, the average gum arabic import price amounted to $12,518 per ton, picking up by 30% against the previous year. Overall, the import price enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2020 when the average import price increased by 91%. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in the near future.

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 Germany ($82,525 per ton), while the price for the UK ($5,297 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+13.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Gum Arabic Imports in Venezuela

Gum arabic imports into Venezuela surged to 21 tons in 2022, picking up by 126% against the previous year. Overall, imports showed a resilient expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 191%. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in years to come.

In value terms, gum arabic imports skyrocketed to $260K in 2022. In general, imports posted a significant increase. The pace of growth appeared the most rapid in 2021 when imports increased by 237% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Import of Gum Arabic in Venezuela (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
France	19.0	2.9	23.6	127	88.4%
Panama	14.0	9.8	26.7	52.9	55.8%
United States	10.8	7.3	19.3	37.1	50.9%
Germany	1.4	0.7	5.4	26.7	167.2%
United Kingdom	10.1	5.3	10.7	15.7	15.8%
Others	0.1	0.3	2.9	0.1	0.0%
Total	55.4	26.3	88.6	260	67.4%