Price for Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in Pakistan - 2023
Contents:
- Price for Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in Pakistan (CIF) - 2023
- Imports of Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in Pakistan
Price for Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in Pakistan (CIF) - 2023
In April 2023, the average import price for acids; saturated acyclic monocarboxylic acids; salts of formic acidses amounted to $450 per ton, declining by -2.1% against the previous month. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in February 2023 an increase of 7.9% m-o-m. Over the period under review, average import prices attained the peak figure at $459 per ton in March 2023, and then dropped modestly in the following month.
Average prices varied noticeably amongst the major supplying countries. In April 2023, the country with the highest price was Taiwan (Chinese) ($455 per ton), while the price for China stood at $445 per ton.
From December 2022 to April 2023, the most notable rate of growth in terms of prices was attained by China (+2.4%), while the prices for the other major suppliers experienced mixed trend patterns.
Imports of Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in Pakistan
For the fourth year in a row, Pakistan recorded growth in overseas purchases of acids; saturated acyclic monocarboxylic acids; salts of formic acidses, which increased by 17% to 30K tons in 2022. Over the period under review, imports enjoyed a significant increase. The growth pace was the most rapid in 2021 when imports increased by 75%. Over the period under review, imports of attained the peak figure in 2022 and are expected to retain growth in the near future.
In value terms, imports of acids; saturated acyclic monocarboxylic acids; salts of formic acidses skyrocketed to $13M in 2022. In general, imports enjoyed significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in Pakistan (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 454 | 927 | 972 | 2,527 | 77.2% |
| Taiwan (Chinese) | 1,322 | 1,020 | 1,020 | 1,764 | 10.1% |
| Saudi Arabia | 211 | 7.7 | 669 | 1,399 | 87.9% |
| United Arab Emirates | 226 | 269 | 330 | 417 | 22.7% |
| Sweden | 311 | 266 | 234 | 213 | -11.9% |
| Spain | 351 | 183 | 342 | 143 | -25.9% |
| Japan | 142 | 137 | 135 | 137 | -1.2% |
| Others | 2,599 | 2,406 | 3,358 | 6,445 | 35.4% |
| Total | 5,618 | 5,217 | 7,060 | 13,046 | 32.4% |
Top Suppliers of Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids to Pakistan in 2022:
- China (6.0K tons)
- Taiwan (Chinese) (4.5K tons)
- Saudi Arabia (3.7K tons)
- Spain (0.5K tons)
- United Arab Emirates (0.3K tons)
- Japan (0.2K tons)
- Sweden (0.1K tons)
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