Price for Lac; Natural Gums, Resins, Gum-Resins and Balsams in Vietnam - 2022

Contents:

1. Price for Lac; Natural Gums, Resins, Gum-Resins and Balsams in Vietnam (CIF) - 2022
2. Price for Lac; Natural Gums, Resins, Gum-Resins and Balsams in Vietnam (FOB) - 2022
3. Imports of Lac; Natural Gums, Resins, Gum-Resins and Balsams in Vietnam
4. Exports of Lac; Natural Gums, Resins, Gum-Resins and Balsams in Vietnam

Price for Lac; Natural Gums, Resins, Gum-Resins and Balsams in Vietnam (CIF) - 2022

The average import price for lac; natural gums, resins, gum-resins and balsamses stood at $13,543 per ton in 2022, falling by -85.1% against the previous year. Over the period under review, the import price, however, showed a resilient expansion. The pace of growth was the most pronounced in 2015 when the average import price increased by 105%. Over the period under review, average import prices hit record highs at $90,689 per ton in 2021, and then contracted dramatically in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($163,571 per ton), while the price for Kenya ($3,611 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ireland (+57.0%), 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 Vietnam (FOB) - 2022

The average export price for lac; natural gums, resins, gum-resins and balsamses stood at $16,354 per ton in 2022, with an increase of 11% against the previous year. Over the period under review, the export price showed a strong increase. The most prominent rate of growth was recorded in 2014 an increase of 23% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to see gradual growth in the near future.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to France ($18,085 per ton) and the Philippines ($18,084 per ton), while the average price for exports to China ($14,767 per ton) and India ($16,462 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+11.2%), 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 Vietnam

In 2022, imports of lac; natural gums, resins, gum-resins and balsamses into Vietnam soared to 1.9K tons, increasing by 442% on 2021 figures. Over the period under review, imports enjoyed a significant increase. 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 dropped significantly to $26M in 2022. In general, total imports indicated a measured expansion from 2019 to 2022: its value increased at an average annual rate of +4.3% 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 +51.9% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 88%. As a result, imports attained the peak of $32M, and then reduced dramatically in the following year.

Top Suppliers of Lac; Natural Gums, Resins, Gum-Resins and Balsams to Vietnam in 2022:

1. Kenya (1182.3 tons)
2. Congo (269.0 tons)
3. France (174.9 tons)
4. Uganda (103.9 tons)
5. Indonesia (91.9 tons)
6. Thailand (55.2 tons)
7. South Africa (15.7 tons)
8. Brazil (2.1 tons)
9. Argentina (0.8 tons)

Exports of Lac; Natural Gums, Resins, Gum-Resins and Balsams in Vietnam

In 2022, the amount of lac; natural gums, resins, gum-resins and balsamses exported from Vietnam skyrocketed to 290 tons, with an increase of 16% compared with 2021 figures. Overall, total exports indicated a significant increase from 2019 to 2022: its volume increased at an average annual rate of +24.9% 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 +94.7% against 2019 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 33%. Over the period under review, the exports of attained the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, exports of lac; natural gums, resins, gum-resins and balsamses surged to $4.7M in 2022. Over the period under review, exports enjoyed a significant expansion. The growth pace was the most rapid in 2021 when exports increased by 48%. The exports peaked in 2022 and are likely to continue growth in years to come.

Top Export Markets for Lac; Natural Gums, Resins, Gum-Resins and Balsams from Vietnam in 2022:

1. India (185.3 tons)
2. China (60.0 tons)
3. France (17.6 tons)
4. Philippines (13.0 tons)
5. Spain (9.1 tons)

Source: IndexBox Market Intelligence Platform