Gum Arabic Price in Australia - 2023

Contents:

1. Gum Arabic Price in Australia (CIF) - 2023
2. Gum Arabic Price in Australia (FOB) - 2022
3. Gum Arabic Imports in Australia
4. Gum Arabic Exports in Australia

Gum Arabic Price in Australia (CIF) - 2023

In July 2023, the average gum arabic import price amounted to $4,595 per ton, with a decrease of -20.2% against the previous month. In general, the import price, however, continues to indicate a slight expansion. The pace of growth appeared the most rapid in April 2023 an increase of 32% month-to-month. As a result, import price attained the peak level of $5,947 per ton. From May 2023 to July 2023, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In July 2023, the country with the highest price was the United States ($28,588 per ton), while the price for France ($4,450 per ton) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Chad (+29.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Gum Arabic Price in Australia (FOB) - 2022

The average gum arabic export price stood at $9,275 per ton in 2022, increasing by 71% against the previous year. Over the period under review, the export price continues to indicate a strong increase. The pace of growth was the most pronounced in 2017 when the average export price increased by 796% against the previous year. As a result, the export price reached the peak level of $51,135 per ton. From 2018 to 2022, the average export prices remained at a somewhat lower figure.

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 Japan ($13,699 per ton), while the average price for exports to Papua New Guinea ($3,064 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 New Zealand (+11.7%), while the prices for the other major destinations experienced a decline.

Gum Arabic Imports in Australia

For the fourth year in a row, Australia recorded growth in overseas purchases of gum arabics, which increased by 15% to 989 tons in 2022. The total import volume increased at an average annual rate of +13.6% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 21%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, gum arabic imports soared to $4.1M in 2022. The total import value increased at an average annual rate of +6.9% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Top Suppliers of Gum Arabic to Australia in 2022:

1. France (643.0 tons)
2. United Kingdom (102.0 tons)
3. United States (63.3 tons)
4. Belgium (38.0 tons)
5. Netherlands (36.0 tons)
6. Thailand (32.5 tons)
7. Germany (27.4 tons)
8. Italy (22.8 tons)
9. India (10.1 tons)

Gum Arabic Exports in Australia

Gum arabic exports from Australia stood at 5.5 tons in 2022, with an increase of 8.8% compared with the year before. Over the period under review, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2021 when exports increased by 931% against the previous year. The exports peaked in 2022 and are likely to continue growth in the near future.

In value terms, gum arabic exports skyrocketed to $51K in 2022. In general, exports enjoyed a significant expansion. The pace of growth appeared the most rapid in 2021 when exports increased by 1,436%. The exports peaked in 2022 and are expected to retain growth in years to come.

Top Export Markets for Gum Arabic from Australia in 2022:

1. New Zealand (2.1 tons)
2. Japan (1.5 tons)
3. Papua New Guinea (1.5 tons)
4. Indonesia (0.4 tons)

Source: IndexBox Market Intelligence Platform