Waxes; Artificial, Prepared Price in Panama - 2023

Contents:

1. Waxes; Artificial, Prepared Price in Panama (CIF) - 2022
2. Waxes; Artificial, Prepared Price in Panama (FOB) - 2022
3. Waxes; Artificial, Prepared Imports in Panama
4. Waxes; Artificial, Prepared Exports in Panama

Waxes; Artificial, Prepared Price in Panama (CIF) - 2022

In 2022, the average waxes; artificial, prepared import price amounted to $5,638 per ton, growing by 29% against the previous year. Over the period under review, the import price posted a noticeable increase. The pace of growth appeared the most rapid in 2013 an increase of 133%. As a result, import price attained the peak level of $10,280 per ton. From 2014 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Colombia ($9,876 per ton), while the price for China ($2,734 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+24.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Waxes; Artificial, Prepared Price in Panama (FOB) - 2022

The average waxes; artificial, prepared export price stood at $2,433 per ton in 2022, approximately mirroring the previous year. In general, the export price saw a deep downturn. The pace of growth appeared the most rapid in 2016 when the average export price increased by 13%. Over the period under review, the average export prices attained the maximum at $6,627 per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Venezuela ($3,017 per ton) and Costa Rica ($2,538 per ton), while the average price for exports to Nicaragua ($2,315 per ton) and Colombia ($2,315 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 United States (-2.8%), while the prices for the other major destinations experienced a decline.

Waxes; Artificial, Prepared Imports in Panama

For the third consecutive year, Panama recorded decline in purchases abroad of waxes; artificial, prepared, which decreased by -51% to 47 tons in 2022. In general, imports recorded a sharp curtailment. The smallest decline of -16% was in 2020.

In value terms, waxes; artificial, prepared imports declined markedly to $267K in 2022. Overall, imports faced a sharp decline. The smallest decline of -7.5% was in 2020.

Top Suppliers of Waxes; Artificial, Prepared to Panama in 2022:

1. United States (15.3 tons)
2. Spain (13.6 tons)
3. China (12.2 tons)
4. Free Zones (2.4 tons)
5. Mexico (1.1 tons)
6. Ecuador (0.9 tons)
7. Colombia (0.9 tons)

Waxes; Artificial, Prepared Exports in Panama

For the third year in a row, Panama recorded decline in shipments abroad of waxes; artificial, prepared, which decreased by 0% to 332 tons in 2022. Over the period under review, exports saw a sharp decrease. The smallest decline of -18.9% was in 2020.

In value terms, waxes; artificial, prepared exports totaled $807K in 2022. Overall, exports faced a dramatic contraction. The smallest decline of -28.7% was in 2020.

Top Export Markets for Waxes; Artificial, Prepared from Panama in 2022:

1. United States (147.2 tons)
2. Belize (134.1 tons)
3. Nicaragua (39.7 tons)

Source: IndexBox Market Intelligence Platform