Price for Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Panama - 2024

Contents:

1. Price for Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Panama (CIF) - 2022
2. Price for Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Panama (FOB) - 2022
3. Imports of Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Panama
4. Exports of Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Panama

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

The average import price for residues; of petroleum oils or of oils obtained from bituminous mineralses stood at $9,637 per ton in 2022, rising by 20% against the previous year. In general, the import price saw a significant increase. The most prominent rate of growth was recorded in 2017 when the average import price increased by 81% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

As there is only one major supplying country, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to +25.1% per year.

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

In 2022, the average export price for residues; of petroleum oils or of oils obtained from bituminous mineralses amounted to $92 per ton, which is down by -19.6% against the previous year. In general, the export price continues to indicate a dramatic contraction. The most prominent rate of growth was recorded in 2019 an increase of 42%. Over the period under review, the average export prices hit record highs at $1,781 per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Belgium ($111 per ton), while the average price for exports to Portugal ($87 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 Mozambique (-5.4%), while the prices for the other major destinations experienced a decline.

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

In 2022, imports of residues; of petroleum oils or of oils obtained from bituminous mineralses into Panama declined sharply to 3.8 tons, falling by -19% against the year before. In general, imports recorded a deep setback. The smallest decline of -19% was in 2021.

In value terms, imports of residues; of petroleum oils or of oils obtained from bituminous mineralses dropped to $36K in 2022. Overall, imports showed a noticeable decrease. The smallest decline of -2.7% was in 2021.

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

1. United States (3.8 tons)

Exports of Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Panama

In 2022, overseas shipments of residues; of petroleum oils or of oils obtained from bituminous mineralses decreased by -99% to 11 tons, falling for the second consecutive year after two years of growth. Overall, exports continue to indicate a dramatic shrinkage. The pace of growth was the most pronounced in 2020 when exports increased by 1,275% against the previous year. As a result, the exports reached the peak of 1.5K tons. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of residues; of petroleum oils or of oils obtained from bituminous mineralses dropped remarkably to $979 in 2022. Over the period under review, exports showed a dramatic decrease. The most prominent rate of growth was recorded in 2020 with an increase of 262%. As a result, the exports attained the peak of $143K. From 2021 to 2022, the growth of the exports of remained at a lower figure.

Top Export Markets for Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals from Panama in 2022:

1. Portugal (7.5 tons)
2. Belgium (1.6 tons)
3. Spain (1.5 tons)

Source: IndexBox Market Intelligence Platform