Petroleum Jelly Price in Canada - 2023

Petroleum Jelly Price in Canada (CIF) - 2023

In September 2023, the average petroleum jelly import price amounted to $2,494 per ton, picking up by 19% against the previous month. Over the period under review, import price indicated a modest expansion from September 2022 to September 2023: its price increased at an average monthly rate of +1.2% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on September 2023 figures, petroleum jelly import price increased by +19.7% against July 2023 indices. The pace of growth was the most pronounced in May 2023 when the average import price increased by 88% against the previous month. As a result, import price attained the peak level of $3,138 per ton. From June 2023 to September 2023, the average import prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In September 2023, the country with the highest price was the United States ($2,515 per ton), while the price for India stood at $1,884 per ton.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by the United States (+1.4%).

Petroleum Jelly Price in Canada (FOB) - 2023

In September 2023, the average petroleum jelly export price amounted to $1,467 per ton, flattening at the previous month. In general, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in February 2023 when the average export price increased by 23% against the previous month. Over the period under review, the average export prices hit record highs at $1,785 per ton in November 2022; however, from December 2022 to September 2023, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for the United States.

From September 2022 to September 2023, the rate of growth in terms of prices for Israel amounted to -0.1% per month.

Petroleum Jelly Imports in Canada

In 2022, the amount of petroleum jellies imported into Canada contracted slightly to 8.6K tons, approximately mirroring the previous year's figure. The total import volume increased at an average annual rate of +3.2% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The pace of growth was the most pronounced in 2021 when imports increased by 13% against the previous year. As a result, imports reached the peak of 8.6K tons, leveling off in the following year.

In value terms, petroleum jelly imports expanded remarkably to $18M in 2022. The total import value increased at an average annual rate of +5.8% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 9.7%. Imports peaked in 2022 and are expected to retain growth in the near future.

Import of Petroleum Jelly in Canada (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	14.6	14.7	16.1	17.2	5.6%
India	0.3	0.2	0.4	0.4	10.1%
Others	0.3	0.3	0.2	0.3	0.0%
Total	15.2	15.2	16.7	18.0	5.8%

Top Suppliers of Petroleum Jelly to Canada in 2022:

United States (8.3K tons)
India (0.2K tons)

Petroleum Jelly Exports in Canada

In 2022, approx. 4.6K tons of petroleum jellies were exported from Canada; with a decrease of -12.6% against 2021 figures. Overall, exports showed a abrupt downturn. The smallest decline of -1.3% was in 2020.

In value terms, petroleum jelly exports reduced to $7.4M in 2022. In general, exports saw a perceptible setback. The most prominent rate of growth was recorded in 2020 with an increase of 3.2%. As a result, the exports reached the peak of $8.6M. From 2021 to 2022, the growth of the exports failed to regain momentum.