Waxes; Artificial, Prepared Price in Venezuela - 2022

Contents:

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

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

The average waxes; artificial, prepared import price stood at $4,515 per ton in 2022, stabilizing at the previous year. In general, import price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, waxes; artificial, prepared import price increased by +26.9% against 2018 indices. The pace of growth appeared the most rapid in 2014 when the average import price increased by 58% against the previous year. Over the period under review, average import prices reached the maximum at $5,552 per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($8,456 per ton), while the price for China ($666 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+10.7%), while the prices for the other major suppliers experienced more modest paces of growth.

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

In 2022, the average waxes; artificial, prepared export price amounted to $961 per ton, picking up by 14% against the previous year. In general, the export price enjoyed a modest expansion. The pace of growth appeared the most rapid in 2014 when the average export price increased by 29% against the previous year. Over the period under review, the average export prices reached the maximum at $1,571 per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Colombia.

From 2012 to 2022, the rate of growth in terms of prices for Spain amounted to +38.3% per year.

Waxes; Artificial, Prepared Imports in Venezuela

In 2022, approx. 508 tons of waxes; artificial, prepared were imported into Venezuela; with a decrease of -30.2% compared with the year before. In general, imports, however, recorded a strong increase. The most prominent rate of growth was recorded in 2021 with an increase of 151%. As a result, imports reached the peak of 728 tons, and then contracted sharply in the following year.

In value terms, waxes; artificial, prepared imports reduced dramatically to $2.3M in 2022. Overall, imports, however, posted a prominent expansion. The pace of growth appeared the most rapid in 2021 with an increase of 153% against the previous year. As a result, imports attained the peak of $3.3M, and then contracted remarkably in the following year.

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

1. Denmark (141.3 tons)
2. Colombia (107.0 tons)
3. United States (65.1 tons)
4. China (24.6 tons)
5. Italy (7.8 tons)
6. Spain (6.5 tons)
7. Germany (0.8 tons)

Waxes; Artificial, Prepared Exports in Venezuela

In 2022, after two years of decline, there was significant growth in shipments abroad of waxes; artificial, prepared, when their volume increased by 15% to 48 tons. Over the period under review, exports, however, recorded a deep contraction.

In value terms, waxes; artificial, prepared exports surged to $46K in 2022. Overall, exports, however, recorded a precipitous decline.

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

1. Colombia (47.7 tons)

Source: IndexBox Market Intelligence Platform