Price for Lac; Natural Gums, Resins, Gum-Resins and Balsams in China - 2023
Contents:
- Price for Lac; Natural Gums, Resins, Gum-Resins and Balsams in China (CIF) - 2022
- Price for Lac; Natural Gums, Resins, Gum-Resins and Balsams in China (FOB) - 2023
- Imports of Lac; Natural Gums, Resins, Gum-Resins and Balsams in China
- Exports of Lac; Natural Gums, Resins, Gum-Resins and Balsams in China
Price for Lac; Natural Gums, Resins, Gum-Resins and Balsams in China (CIF) - 2022
The average import price for lac; natural gums, resins, gum-resins and balsamses stood at $2,309 per ton in 2022, shrinking by -10.4% against the previous year. Over the period under review, the import price continues to indicate a noticeable reduction. The pace of growth was the most pronounced in 2020 when the average import price increased by 33%. Over the period under review, average import prices reached the maximum at $3,590 per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($4,482 per ton), while the price for Nigeria ($648 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kenya (+7.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Lac; Natural Gums, Resins, Gum-Resins and Balsams in China (FOB) - 2023
In December 2023, the average export price for lac; natural gums, resins, gum-resins and balsamses amounted to $6,717 per ton, with an increase of 26% against the previous month. Overall, the export price, however, continues to indicate a slight decrease. The most prominent rate of growth was recorded in July 2023 an increase of 68% m-o-m. As a result, the export price attained the peak level of $13,685 per ton. From August 2023 to December 2023, the the average export prices remained at a somewhat lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was Spain ($11,585 per ton), while the average price for exports to Vietnam ($2,852 per ton) was amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+6.4%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Lac; Natural Gums, Resins, Gum-Resins and Balsams in China
In 2022, purchases abroad of lac; natural gums, resins, gum-resins and balsamses was finally on the rise to reach 27K tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, continue to indicate a abrupt curtailment.
In value terms, imports of lac; natural gums, resins, gum-resins and balsamses dropped to $62M in 2022. Overall, imports, however, showed a pronounced decline. The most prominent rate of growth was recorded in 2021 with an increase of 5.3%.
| Import of Lac; Natural Gums, Resins, Gum-Resins and Balsams in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 15.9 | 14.2 | 13.7 | 10.6 | -12.6% |
| Myanmar | 0.1 | 3.1 | 2.2 | 7.8 | 327.3% |
| Sudan | 4.4 | 4.4 | 5.3 | 7.6 | 20.0% |
| France | 6.8 | 6.3 | 7.3 | 7.6 | 3.8% |
| Kenya | 13.5 | 13.3 | 12.5 | 5.2 | -27.2% |
| Madagascar | 3.3 | 2.5 | 1.8 | 3.0 | -3.1% |
| Tanzania | 0.6 | N/A | 1.3 | 1.6 | 38.7% |
| Uganda | 1.3 | 2.3 | 1.8 | N/A | 17.7% |
| Others | 25.3 | 16.6 | 20.2 | 18.4 | -10.1% |
| Total | 71.2 | 62.8 | 66.2 | 61.7 | -4.7% |
Top Suppliers of Lac; Natural Gums, Resins, Gum-Resins and Balsams to China in 2022:
- Myanmar (5.5K tons)
- Sudan (4.7K tons)
- Madagascar (4.0K tons)
- Indonesia (2.4K tons)
- Tanzania (1.8K tons)
- France (1.8K tons)
- Kenya (1.4K tons)
Exports of Lac; Natural Gums, Resins, Gum-Resins and Balsams in China
In 2022, approx. 1.4K tons of lac; natural gums, resins, gum-resins and balsamses were exported from China; with an increase of 24% against the previous year's figure. The total export volume increased at an average annual rate of +8.5% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, exports of lac; natural gums, resins, gum-resins and balsamses skyrocketed to $14M in 2022. In general, total exports indicated a significant increase from 2019 to 2022: its value increased at an average annual rate of +22.5% 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 +83.9% against 2019 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Lac; Natural Gums, Resins, Gum-Resins and Balsams in China (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 1,059 | 2,752 | 2,688 | 5,914 | 77.4% |
| India | 129 | 240 | 1,408 | 1,025 | 99.5% |
| Russia | 13.4 | 8.4 | N/A | 918 | 309.2% |
| Spain | 1,028 | 1,106 | 949 | 780 | -8.8% |
| Malaysia | 927 | 513 | 509 | 745 | -7.0% |
| South Africa | 471 | 828 | 521 | 626 | 9.9% |
| Italy | 300 | 240 | 150 | 560 | 23.1% |
| Taiwan (Chinese) | 627 | 222 | 471 | 545 | -4.6% |
| Hong Kong SAR | 1,111 | 440 | 409 | 453 | -25.8% |
| United Arab Emirates | 3.9 | N/A | N/A | 345 | 345.6% |
| Vietnam | 29.0 | 83.7 | 123 | 330 | 124.9% |
| Singapore | 274 | 88.7 | 197 | 134 | -21.2% |
| Mexico | N/A | 3.0 | 176 | 103 | 485.9% |
| Others | 1,369 | 2,047 | 2,093 | 1,022 | -9.3% |
| Total | 7,340 | 8,570 | 9,693 | 13,501 | 22.5% |
Top Export Markets for Lac; Natural Gums, Resins, Gum-Resins and Balsams from China in 2022:
- United States (351.6 tons)
- Russia (153.1 tons)
- United Arab Emirates (148.2 tons)
- Malaysia (94.1 tons)
- Taiwan (Chinese) (90.3 tons)
- Hong Kong SAR (88.3 tons)
- Vietnam (81.5 tons)
- India (81.0 tons)
- Spain (59.3 tons)
- Italy (39.5 tons)
- South Africa (39.0 tons)
- Mexico (21.9 tons)
- Singapore (18.0 tons)
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