Petroleum Jelly Price in the United States - 2023
Contents:
- Petroleum Jelly Price in the United States (FOB) - 2023
- Petroleum Jelly Price in the United States (CIF) - 2022
- Petroleum Jelly Exports in the United States
- Petroleum Jelly Imports in the United States
Petroleum Jelly Price in the United States (FOB) - 2023
The average petroleum jelly export price stood at $2,950 per ton in September 2023, with an increase of 27% against the previous month. Over the period under review, the export price showed a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.
There were significant differences in the average prices for the major foreign markets. In September 2023, the country with the highest price was South Korea ($3,794 per ton), while the average price for exports to the Netherlands ($2,104 per ton) was amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+1.8%), while the prices for the other major destinations experienced more modest paces of growth.
Petroleum Jelly Price in the United States (CIF) - 2022
The average petroleum jelly import price stood at $2,556 per ton in 2022, surging by 29% against the previous year. Overall, import price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of +6.2% 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 +92.2% against 2015 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($6,433 per ton), while the price for Canada ($1,689 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+69.3%), while the prices for the other major suppliers experienced mixed trend patterns.
Petroleum Jelly Exports in the United States
For the fourth consecutive year, the United States recorded growth in overseas shipments of petroleum jellies, which increased by 5.3% to 32K tons in 2022. The total export volume increased at an average annual rate of +6.1% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of 8.7% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in years to come.
In value terms, petroleum jelly exports surged to $81M in 2022. Overall, total exports indicated strong growth from 2019 to 2022: its value increased at an average annual rate of +13.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +46.3% against 2019 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Petroleum Jelly in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 13.1 | 13.8 | 15.1 | 24.1 | 22.5% |
| Canada | 14.9 | 15.2 | 16.5 | 17.9 | 6.3% |
| Mexico | 7.4 | 9.3 | 8.9 | 9.9 | 10.2% |
| Brazil | 1.9 | 2.1 | 2.7 | 4.8 | 36.2% |
| China | 2.9 | 2.4 | 2.7 | 3.5 | 6.5% |
| Belgium | 2.8 | 2.4 | 2.5 | 3.0 | 2.3% |
| South Korea | 0.8 | 1.4 | 1.5 | 2.2 | 40.1% |
| India | 0.7 | 1.4 | 1.5 | 1.9 | 39.5% |
| Netherlands | 0.9 | 0.7 | 0.6 | 1.3 | 13.0% |
| Germany | 0.3 | 0.5 | 0.5 | 0.7 | 32.6% |
| Others | 9.4 | 8.2 | 10.2 | 11.4 | 6.6% |
| Total | 55.1 | 57.3 | 62.7 | 80.7 | 13.6% |
Top Export Markets for Petroleum Jelly from the United States in 2022:
- Canada (8.5K tons)
- Japan (8.3K tons)
- Mexico (5.1K tons)
- Brazil (1.8K tons)
- Belgium (1.3K tons)
- China (1.2K tons)
- South Korea (0.7K tons)
- Netherlands (0.6K tons)
- Germany (0.6K tons)
- India (0.5K tons)
Petroleum Jelly Imports in the United States
In 2022, supplies from abroad of petroleum jellies decreased by -17.5% to 7K tons, falling for the second consecutive year after two years of growth. Over the period under review, imports recorded a abrupt slump. The most prominent rate of growth was recorded in 2020 with an increase of 3.4%. As a result, imports attained the peak of 8.6K tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
In value terms, petroleum jelly imports rose significantly to $18M in 2022. The total import value increased at an average annual rate of +12.3% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 15%. Imports peaked in 2022 and are expected to retain growth in years to come.
| Import of Petroleum Jelly in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 8.1 | 8.4 | 7.6 | 7.2 | -3.9% |
| India | 2.7 | 2.6 | 3.1 | 3.4 | 8.0% |
| United Kingdom | 0.4 | 0.5 | 0.6 | 0.9 | 31.0% |
| Germany | 0.6 | 0.5 | 1.4 | 0.9 | 14.5% |
| South Africa | 0.1 | N/A | 0.4 | 0.6 | 81.7% |
| South Korea | N/A | 0.1 | 0.2 | 0.6 | 144.9% |
| Others | 0.8 | 2.5 | 3.5 | 4.4 | 76.5% |
| Total | 12.7 | 14.6 | 16.8 | 17.9 | 12.1% |
Top Suppliers of Petroleum Jelly to the United States in 2022:
- Canada (4.2K tons)
- India (1.5K tons)
- Germany (0.3K tons)
- South Korea (0.2K tons)
- South Africa (0.1K tons)
- United Kingdom (0.1K tons)
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