Price for Lac; Natural Gums, Resins, Gum-Resins and Balsams in the UK - 2023
Contents:
- Price for Lac; Natural Gums, Resins, Gum-Resins and Balsams in the UK (CIF) - 2023
- Price for Lac; Natural Gums, Resins, Gum-Resins and Balsams in the UK (FOB) - 2022
- Imports of Lac; Natural Gums, Resins, Gum-Resins and Balsams in the UK
- Exports of Lac; Natural Gums, Resins, Gum-Resins and Balsams in the UK
Price for Lac; Natural Gums, Resins, Gum-Resins and Balsams in the UK (CIF) - 2023
The average import price for lac; natural gums, resins, gum-resins and balsamses stood at $4,133 per ton in November 2023, surging by 31% against the previous month. In general, the import price enjoyed a modest expansion. The growth pace was the most rapid in March 2023 when the average import price increased by 102% against the previous month. The import price peaked at $5,837 per ton in August 2023; however, from September 2023 to November 2023, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In November 2023, the country with the highest price was China ($12,301 per ton), while the price for Sudan ($1,696 per ton) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by Chad (+3.2%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Lac; Natural Gums, Resins, Gum-Resins and Balsams in the UK (FOB) - 2022
In 2022, the average export price for lac; natural gums, resins, gum-resins and balsamses amounted to $7,978 per ton, reducing by -16.7% against the previous year. Overall, export price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for lac; natural gums, resins, gum-resins and balsamses increased by +43.6% against 2016 indices. The growth pace was the most rapid in 2021 when the average export price increased by 40%. As a result, the export price attained the peak level of $9,576 per ton, and then dropped markedly in the following year.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Australia ($27,542 per ton), while the average price for exports to Sudan ($2,453 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 Australia (+7.4%), 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 the UK
Imports of lac; natural gums, resins, gum-resins and balsamses into the UK skyrocketed to 10K tons in 2022, jumping by 18% on 2021. The total import volume increased at an average annual rate of +7.1% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, imports of lac; natural gums, resins, gum-resins and balsamses expanded significantly to $30M in 2022. The total import value increased at an average annual rate of +5.9% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 14% against the previous year. Over the period under review, imports of attained the maximum in 2022 and are likely to see steady growth in years to come.
| Import of Lac; Natural Gums, Resins, Gum-Resins and Balsams in the UK (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Sudan | 7.1 | 7.8 | 9.0 | 10.7 | 14.7% |
| France | 4.0 | 3.2 | 5.0 | 6.7 | 18.8% |
| India | 1.9 | 1.9 | 3.6 | 2.8 | 13.8% |
| United States | 4.2 | 2.8 | 1.7 | 1.4 | -30.7% |
| Germany | 2.7 | 3.4 | 3.5 | 1.3 | -21.6% |
| Chad | 1.0 | 0.8 | 0.5 | 1.2 | 6.3% |
| China | 0.5 | 0.7 | 1.4 | 1.2 | 33.9% |
| Somalia | 0.1 | 0.4 | 0.4 | 0.6 | 81.7% |
| Netherlands | 1.0 | 1.5 | 0.8 | 0.1 | -53.6% |
| Others | 2.4 | 2.2 | 2.1 | 3.8 | 16.6% |
| Total | 25.0 | 24.5 | 28.0 | 29.7 | 5.9% |
Top Suppliers of Lac; Natural Gums, Resins, Gum-Resins and Balsams to the UK in 2022:
- Sudan (5.3K tons)
- France (2.5K tons)
- Chad (1.0K tons)
- India (0.3K tons)
- Germany (0.2K tons)
- Somalia (0.2K tons)
- China (0.2K tons)
Exports of Lac; Natural Gums, Resins, Gum-Resins and Balsams in the UK
After two years of decline, shipments abroad of lac; natural gums, resins, gum-resins and balsamses increased by 21% to 921 tons in 2022. Over the period under review, exports, however, faced a abrupt slump.
In value terms, exports of lac; natural gums, resins, gum-resins and balsamses amounted to $7.4M in 2022. Overall, exports, however, recorded a abrupt shrinkage.
| Export of Lac; Natural Gums, Resins, Gum-Resins and Balsams in the UK (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 610 | 1,489 | 352 | 1,247 | 26.9% |
| France | 209 | 184 | 447 | 820 | 57.7% |
| Denmark | 6.6 | 2.6 | 337 | 620 | 354.6% |
| Italy | 502 | 323 | 456 | 443 | -4.1% |
| Australia | 138 | 215 | 179 | 411 | 43.9% |
| Germany | 3,059 | 1,163 | 940 | 360 | -51.0% |
| China | 229 | 747 | 590 | 306 | 10.1% |
| Singapore | 33.4 | 42.7 | 78.5 | 206 | 83.4% |
| Philippines | 401 | 660 | 720 | 199 | -20.8% |
| Ireland | 261 | 284 | 80.1 | 125 | -21.8% |
| Colombia | N/A | N/A | N/A | 87.5 | 0% |
| Greece | 1.9 | 3.3 | 21.3 | 57.6 | 211.8% |
| Sudan | N/A | N/A | N/A | 54.0 | 0% |
| Others | 4,964 | 3,341 | 3,068 | 2,416 | -21.3% |
| Total | 10,414 | 8,455 | 7,269 | 7,351 | -11.0% |
Top Export Markets for Lac; Natural Gums, Resins, Gum-Resins and Balsams from the UK in 2022:
- United States (196.0 tons)
- Denmark (107.1 tons)
- Italy (92.0 tons)
- France (84.4 tons)
- China (84.1 tons)
- Germany (60.7 tons)
- Singapore (25.3 tons)
- Philippines (22.8 tons)
- Sudan (22.0 tons)
- Greece (19.8 tons)
- Ireland (15.8 tons)
- Colombia (15.3 tons)
- Australia (14.9 tons)
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