Price for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Pakistan - 2023
Contents:
- Price for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Pakistan (CIF) - 2023
- Price for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Pakistan (FOB) - 2022
- Imports of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Pakistan
- Exports of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Pakistan
Price for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Pakistan (CIF) - 2023
In April 2023, the average import price for acids; saturated acyclic monocarboxylic acids; formic acids amounted to $673 per ton, reducing by -3.6% against the previous month. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in March 2023 when the average import price increased by 4.7% against the previous month. As a result, import price attained the peak level of $699 per ton, and then declined in the following month.
As there is only one major supplying country, the average price level is determined by prices for China.
From December 2022 to April 2023, the rate of growth in terms of prices for China amounted to -0.2% per month.
Price for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Pakistan (FOB) - 2022
The average export price for acids; saturated acyclic monocarboxylic acids; formic acids stood at $1,358 per ton in 2022, picking up by 105% against the previous year. Over the period under review, the export price saw a tangible expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.
Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Democratic Republic of the Congo ($1,846 per ton), while the average price for exports to Saudi Arabia ($1,280 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 Argentina (+13.3%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Pakistan
After three years of growth, overseas purchases of acids; saturated acyclic monocarboxylic acids; formic acids decreased by -39.5% to 12K tons in 2022. Overall, imports continue to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2020 with an increase of 14% against the previous year.
In value terms, imports of acids; saturated acyclic monocarboxylic acids; formic acids declined to $10M in 2022. The total import value increased at an average annual rate of +2.2% over the period from 2019 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations in certain years. The growth pace was the most rapid in 2021 when imports increased by 22% against the previous year. As a result, imports reached the peak of $12M, and then fell in the following year.
| Import of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Pakistan (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 4.1 | 3.9 | 5.1 | 3.7 | -3.4% |
| Germany | 0.7 | 0.9 | 0.7 | 1.5 | 28.9% |
| Others | 5.0 | 4.8 | 5.9 | 5.2 | 1.3% |
| Total | 9.8 | 9.6 | 11.7 | 10.4 | 2.0% |
Top Suppliers of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid to Pakistan in 2022:
- China (4.6K tons)
- Germany (1.3K tons)
Exports of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Pakistan
In 2022, overseas shipments of acids; saturated acyclic monocarboxylic acids; formic acids were finally on the rise to reach 640 tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, continue to indicate a deep reduction.
In value terms, exports of acids; saturated acyclic monocarboxylic acids; formic acids surged to $869K in 2022. Over the period under review, exports continue to indicate a buoyant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Pakistan (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Saudi Arabia | 335 | 48.2 | 31.9 | 348 | 1.3% |
| Democratic Republic of the Congo | N/A | N/A | N/A | 43.9 | 0% |
| Bangladesh | N/A | N/A | N/A | 42.3 | 0% |
| Others | 374 | 48.2 | 31.9 | 434 | 5.1% |
| Total | 709 | 96.5 | 63.8 | 869 | 7.0% |
Top Export Markets for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid from Pakistan in 2022:
- Saudi Arabia (272.0 tons)
- Bangladesh (24.0 tons)
- Democratic Republic of the Congo (23.8 tons)
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