Petroleum Jelly Price in Pakistan - 2023

Contents:

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

Petroleum Jelly Price in Pakistan (CIF) - 2023

In February 2023, the average petroleum jelly import price amounted to $1,762 per ton, jumping by 155% against the previous month. In general, the import price continues to indicate a resilient expansion. The import price peaked at $1,780 per ton in November 2022; afterwards, it flattened through to February 2023.

Prices varied noticeably by the country of origin: the country with the highest price was India ($2,274 per ton), while the price for the UK ($1,459 per ton) was amongst the lowest.

From February 2022 to February 2023, the most notable rate of growth in terms of prices was attained by Germany (+14.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Petroleum Jelly Price in Pakistan (FOB) - 2022

In 2022, the average petroleum jelly export price amounted to $796 per ton, dropping by -2.1% against the previous year. Over the period under review, the export price showed a deep contraction. The most prominent rate of growth was recorded in 2015 when the average export price increased by 136%. Over the period under review, the average export prices reached the maximum at $2,344 per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($1,329 per ton), while the average price for exports to the UK ($221 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 the United Arab Emirates (-0.2%), while the prices for the other major destinations experienced a decline.

Petroleum Jelly Imports in Pakistan

For the fourth consecutive year, Pakistan recorded growth in purchases abroad of petroleum jellies, which increased by 44% to 6.2K tons in 2022. Over the period under review, imports saw a significant increase. The pace of growth appeared the most rapid in 2021 when imports increased by 94%. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, petroleum jelly imports skyrocketed to $5.8M in 2022. In general, total imports indicated a prominent expansion from 2019 to 2022: its value increased at an average annual rate of +11.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +73.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 38%. Imports peaked in 2022 and are expected to retain growth in years to come.

Top Suppliers of Petroleum Jelly to Pakistan in 2022:

1. Iran (2925.9 tons)
2. United Arab Emirates (1121.2 tons)
3. Netherlands (763.9 tons)
4. Germany (549.0 tons)
5. United Kingdom (350.2 tons)
6. Turkey (134.2 tons)
7. India (93.2 tons)

Petroleum Jelly Exports in Pakistan

In 2022, approx. 28 tons of petroleum jellies were exported from Pakistan; declining by -15.4% on the previous year. Overall, exports faced a precipitous shrinkage. The pace of growth appeared the most rapid in 2021 with an increase of 20%.

In value terms, petroleum jelly exports fell sharply to $22K in 2022. Over the period under review, exports faced a precipitous slump. The most prominent rate of growth was recorded in 2021 with an increase of 52% against the previous year.

Top Export Markets for Petroleum Jelly from Pakistan in 2022:

1. Mauritania (19.3 tons)
2. United Kingdom (4.4 tons)
3. United Arab Emirates (1.8 tons)
4. Afghanistan (1.6 tons)
5. Canada (0.5 tons)

Source: IndexBox Market Intelligence Platform