Price for Lac; Natural Gums, Resins, Gum-Resins and Balsams in Hong Kong SAR - 2023

Contents:

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

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

In 2022, the average import price for lac; natural gums, resins, gum-resins and balsamses amounted to $19,770 per ton, jumping by 63% against the previous year. In general, the import price enjoyed resilient growth. The most prominent rate of growth was recorded in 2018 an increase of 133% against the previous year. The import price peaked in 2022 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Singapore ($62,792 per ton), while the price for India ($5,919 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kenya (+21.1%), 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 Hong Kong SAR (FOB) - 2022

The average export price for lac; natural gums, resins, gum-resins and balsamses stood at $10,760 per ton in 2022, which is down by -24.7% against the previous year. Over the period under review, export price indicated buoyant growth from 2012 to 2022: its price increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for lac; natural gums, resins, gum-resins and balsamses increased by +54.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by 105% against the previous year. As a result, the export price reached the peak level of $14,293 per ton, and then shrank markedly in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Brazil ($78,131 per ton), while the average price for exports to Taiwan (Chinese) ($6,099 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 Vietnam (+65.7%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Lac; Natural Gums, Resins, Gum-Resins and Balsams in Hong Kong SAR

For the third consecutive year, Hong Kong SAR recorded decline in purchases abroad of lac; natural gums, resins, gum-resins and balsamses, which decreased by -73.5% to 30 tons in 2022. Overall, imports continue to indicate a dramatic slump. The smallest decline of -33.3% was in 2020.

In value terms, imports of lac; natural gums, resins, gum-resins and balsamses shrank remarkably to $585K in 2022. In general, imports showed a dramatic decrease. The smallest decline of -3.1% was in 2021.

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

1. India (12.1 tons)
2. Singapore (5.2 tons)
3. China (3.9 tons)
4. Germany (3.9 tons)
5. Pakistan (1.4 tons)
6. United States (1.4 tons)
7. United Kingdom (1.0 tons)
8. Japan (0.4 tons)
9. Taiwan (Chinese) (0.1 tons)

Exports of Lac; Natural Gums, Resins, Gum-Resins and Balsams in Hong Kong SAR

For the third year in a row, Hong Kong SAR recorded decline in shipments abroad of lac; natural gums, resins, gum-resins and balsamses, which decreased by -47.1% to 50 tons in 2022. Over the period under review, exports continue to indicate a dramatic setback. The smallest decline of -45.9% was in 2021.

In value terms, exports of lac; natural gums, resins, gum-resins and balsamses fell dramatically to $542K in 2022. Overall, exports faced a significant contraction. The pace of growth appeared the most rapid in 2021 when exports increased by 11%.

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

1. Taiwan (Chinese) (23.0 tons)
2. China (21.1 tons)
3. Macao SAR (3.8 tons)
4. Brazil (0.8 tons)

Source: IndexBox Market Intelligence Platform