Price for Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Ethiopia - 2022

Contents:

1. Price for Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Ethiopia (CIF) - 2022
2. Imports of Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Ethiopia

Price for Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Ethiopia (CIF) - 2022

The average import price for residues; of petroleum oils or of oils obtained from bituminous mineralses stood at $743 per ton in 2022, increasing by 1.5% against the previous year. Overall, the import price, however, showed a perceptible decrease. The pace of growth appeared the most rapid in 2021 an increase of 63%. Over the period under review, average import prices attained the peak figure at $1,139 per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

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 Iran ($2,000 per ton), while the price for the United Arab Emirates ($675 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iran (+6.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Imports of Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Ethiopia

In 2022, approx. 4.7 tons of residues; of petroleum oils or of oils obtained from bituminous mineralses were imported into Ethiopia; with a decrease of -50.3% on 2021. In general, imports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 5,994% against the previous year. As a result, imports attained the peak of 9.5 tons, and then reduced notably in the following year.

In value terms, imports of residues; of petroleum oils or of oils obtained from bituminous mineralses fell sharply to $3.5K in 2022. Overall, imports, however, posted significant growth. The growth pace was the most rapid in 2021 with an increase of 9,839% against the previous year. As a result, imports reached the peak of $7K, and then dropped sharply in the following year.

Top Suppliers of Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals to Ethiopia in 2022:

1. United Arab Emirates (4.2 tons)
2. Pakistan (0.5 tons)
3. India (0.1 tons)

Source: IndexBox Market Intelligence Platform