Petroleum Jelly Price in Hong Kong SAR - 2023

Contents:

1. Petroleum Jelly Price in Hong Kong SAR (CIF) - 2023
2. Petroleum Jelly Price in Hong Kong SAR (FOB) - 2022
3. Petroleum Jelly Imports in Hong Kong SAR
4. Petroleum Jelly Exports in Hong Kong SAR

Petroleum Jelly Price in Hong Kong SAR (CIF) - 2023

In September 2023, the average petroleum jelly import price amounted to $3,417 per ton, stabilizing at the previous month. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in February 2023 when the average import price increased by 1,221% month-to-month. As a result, import price attained the peak level of $42,431 per ton. From March 2023 to September 2023, the average import prices remained at a lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was India ($5,483 per ton), while the price for the United States totaled $2,839 per ton.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by India (+1.6%).

Petroleum Jelly Price in Hong Kong SAR (FOB) - 2022

In 2022, the average petroleum jelly export price amounted to $4,221 per ton, growing by 8.8% against the previous year. Over the last decade, it increased at an average annual rate of +1.9%. The pace of growth was the most pronounced in 2014 an increase of 11%. The export price peaked in 2022 and is expected to retain growth in the near future.

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

From 2012 to 2022, the rate of growth in terms of prices for China amounted to +1.9% per year.

Petroleum Jelly Imports in Hong Kong SAR

In 2022, overseas purchases of petroleum jellies decreased by -8.3% to 423 tons for the first time since 2018, thus ending a three-year rising trend. Overall, total imports indicated a remarkable increase from 2019 to 2022: its volume increased at an average annual rate of +13.5% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +46.2% against 2019 indices. The pace of growth was the most pronounced in 2021 with an increase of 53% against the previous year. As a result, imports reached the peak of 461 tons, and then declined in the following year.

In value terms, petroleum jelly imports rose rapidly to $1.5M in 2022. Over the period under review, total imports indicated significant growth from 2019 to 2022: its value increased at an average annual rate of +22.7% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +84.5% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 47%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Top Suppliers of Petroleum Jelly to Hong Kong SAR in 2022:

1. United States (264.0 tons)
2. India (93.8 tons)
3. United Kingdom (26.4 tons)
4. China (22.5 tons)
5. Germany (14.3 tons)

Petroleum Jelly Exports in Hong Kong SAR

After two years of decline, overseas shipments of petroleum jellies increased by 35% to 111 tons in 2022. Over the period under review, exports, however, showed a deep setback.

In value terms, petroleum jelly exports soared to $468K in 2022. Overall, exports, however, continue to indicate a abrupt downturn.

Top Export Markets for Petroleum Jelly from Hong Kong SAR in 2022:

1. China (108.8 tons)

Source: IndexBox Market Intelligence Platform