Petroleum Jelly Price in Turkey - 2023

Contents:

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

Petroleum Jelly Price in Turkey (CIF) - 2023

The average petroleum jelly import price stood at $1,595 per ton in September 2023, picking up by 5.9% against the previous month. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in April 2023 when the average import price increased by 80% m-o-m. As a result, import price reached the peak level of $2,768 per ton. From May 2023 to September 2023, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In September 2023, the country with the highest price was the Netherlands ($2,890 per ton), while the price for Iran ($1,178 per ton) was amongst the lowest.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by the Netherlands (+0.8%), while the prices for the other major suppliers experienced a decline.

Petroleum Jelly Price in Turkey (FOB) - 2023

The average petroleum jelly export price stood at $1,496 per ton in September 2023, dropping by -13.6% against the previous month. Over the period under review, the export price recorded a slight slump. The pace of growth was the most pronounced in May 2023 when the average export price increased by 10% against the previous month. Over the period under review, the average export prices reached the peak figure at $1,768 per ton in October 2022; however, from November 2022 to September 2023, the export prices stood at a somewhat lower figure.

Prices varied noticeably by the country of destination: the country with the highest price was Poland ($2,126 per ton), while the average price for exports to Algeria ($1,338 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 Syrian Arab Republic (+61.5%), while the prices for the other major destinations experienced more modest paces of growth.

Petroleum Jelly Imports in Turkey

In 2022, supplies from abroad of petroleum jellies decreased by -29.4% to 4.2K 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 +8.5% 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 +27.9% against 2019 indices. The pace of growth appeared the most rapid in 2021 with an increase of 47% against the previous year. As a result, imports reached the peak of 6K tons, and then fell notably in the following year.

In value terms, petroleum jelly imports totaled $7.1M in 2022. Over the period under review, total imports indicated a significant expansion from 2019 to 2022: its value increased at an average annual rate of +21.2% 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 +78.1% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 54% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in the near future.

Top Suppliers of Petroleum Jelly to Turkey in 2022:

1. Iran (2743.0 tons)
2. Germany (619.8 tons)
3. Netherlands (357.6 tons)
4. India (260.9 tons)
5. United Arab Emirates (181.5 tons)
6. Hungary (19.6 tons)

Petroleum Jelly Exports in Turkey

After three years of growth, shipments abroad of petroleum jellies decreased by -19.4% to 2.3K tons in 2022. Overall, total exports indicated a strong increase from 2019 to 2022: its volume increased at an average annual rate of +13.6% 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 +46.6% against 2019 indices. The pace of growth appeared the most rapid in 2021 with an increase of 70% against the previous year. As a result, the exports attained the peak of 2.8K tons, and then contracted notably in the following year.

In value terms, petroleum jelly exports rose remarkably to $3.2M in 2022. In general, exports, however, posted a significant expansion. The pace of growth was the most pronounced in 2021 with an increase of 59%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Top Export Markets for Petroleum Jelly from Turkey in 2022:

1. Nigeria (625.6 tons)
2. Algeria (383.1 tons)
3. Bangladesh (182.0 tons)
4. Morocco (150.6 tons)
5. Syrian Arab Republic (131.9 tons)
6. Ukraine (82.6 tons)
7. Pakistan (82.3 tons)
8. Russia (65.1 tons)
9. Tunisia (54.3 tons)
10. Madagascar (51.5 tons)
11. Bulgaria (43.0 tons)
12. Serbia (36.1 tons)
13. Germany (34.3 tons)

Source: IndexBox Market Intelligence Platform