Petroleum Jelly Price in Singapore - 2022
Contents:
- Petroleum Jelly Price in Singapore (CIF) - 2022
- Petroleum Jelly Price in Singapore (FOB) - 2022
- Petroleum Jelly Imports in Singapore
- Petroleum Jelly Exports in Singapore
Petroleum Jelly Price in Singapore (CIF) - 2022
The average petroleum jelly import price stood at $4,454 per ton in 2022, surging by 32% against the previous year. Over the period under review, import price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, petroleum jelly import price increased by +26.1% against 2018 indices. The most prominent rate of growth was recorded in 2018 an increase of 46% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to continue growth in years to come.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($9,526 per ton), while the price for China ($2,084 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+6.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Petroleum Jelly Price in Singapore (FOB) - 2022
In 2022, the average petroleum jelly export price amounted to $7,145 per ton, declining by -10.4% against the previous year. Overall, the export price, however, saw a resilient increase. The most prominent rate of growth was recorded in 2017 when the average export price increased by 87% against the previous year. The export price peaked at $7,975 per ton in 2021, and then dropped in the following year.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Philippines ($16,444 per ton), while the average price for exports to Taiwan (Chinese) ($5,394 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 Myanmar (+22.1%), while the prices for the other major destinations experienced more modest paces of growth.
Petroleum Jelly Imports in Singapore
Petroleum jelly imports into Singapore dropped sharply to 141 tons in 2022, shrinking by -40.2% on 2021. Overall, imports recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2021 with an increase of 61% against the previous year.
In value terms, petroleum jelly imports dropped dramatically to $627K in 2022. Over the period under review, imports saw a abrupt decrease. The growth pace was the most rapid in 2021 with an increase of 68%.
| Import of Petroleum Jelly in Singapore (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 450 | 268 | 452 | 354 | -7.7% |
| United States | 48.6 | 85.8 | 212 | 172 | 52.4% |
| India | 46.6 | 69.4 | 98.7 | 38.8 | -5.9% |
| United Kingdom | 2.5 | 1.2 | 10.1 | 20.5 | 101.7% |
| China | 9.0 | 25.6 | 7.2 | 12.0 | 10.1% |
| Malaysia | N/A | 0.8 | 6.4 | 11.1 | 272.5% |
| South Korea | 10.8 | 8.1 | N/A | N/A | -25.0% |
| South Africa | 188 | N/A | N/A | N/A | 0% |
| Others | 70.5 | 15.6 | 10.1 | 18.6 | -35.9% |
| Total | 826 | 474 | 796 | 627 | -8.8% |
Top Suppliers of Petroleum Jelly to Singapore in 2022:
- South Korea (undefined tons)
- Germany (95.7 tons)
- United States (27.1 tons)
- China (5.8 tons)
- India (4.6 tons)
- Malaysia (3.6 tons)
- United Kingdom (2.2 tons)
Petroleum Jelly Exports in Singapore
In 2022, the amount of petroleum jellies exported from Singapore dropped markedly to 41 tons, which is down by -19.2% compared with 2021. Over the period under review, exports recorded a deep contraction. The smallest decline of -17.5% was in 2020.
In value terms, petroleum jelly exports shrank remarkably to $294K in 2022. Overall, exports showed a abrupt slump. The pace of growth was the most pronounced in 2020 with an increase of 7.2%. As a result, the exports reached the peak of $498K. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
| Export of Petroleum Jelly in Singapore (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | N/A | 2.1 | 0.2 | 127 | 677.7% |
| Hong Kong SAR | 352 | 94.8 | 73.6 | 79.8 | -39.0% |
| Malaysia | 3.5 | 2.3 | 13.3 | 41.4 | 127.8% |
| Taiwan (Chinese) | 0.2 | 0.1 | 4.9 | 22.8 | 384.9% |
| Cambodia | 0.1 | N/A | 0.4 | 7.4 | 319.8% |
| Vietnam | 45.8 | 103 | 205 | 1.0 | -72.1% |
| Indonesia | 28.0 | 32.4 | 3.1 | 0.9 | -68.2% |
| Pakistan | 32.8 | N/A | 0.2 | N/A | -92.2% |
| Others | 2.1 | 263 | 106 | 13.7 | 86.9% |
| Total | 465 | 498 | 407 | 294 | -14.2% |
Top Export Markets for Petroleum Jelly from Singapore in 2022:
- Japan (16.5 tons)
- Hong Kong SAR (13.3 tons)
- Malaysia (4.5 tons)
- Taiwan (Chinese) (4.2 tons)
- Cambodia (1.0 tons)
- Indonesia (0.1 tons)
- Vietnam (0.1 tons)
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