Gum Arabic Price in Greece - 2023

Contents:

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

Gum Arabic Price in Greece (CIF) - 2022

In 2022, the average gum arabic import price amounted to $4,743 per ton, with an increase of 8.5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.2%. The growth pace was the most rapid in 2018 when the average import price increased by 22%. The import price peaked in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($5,809 per ton), while the price for Sudan ($2,998 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+3.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Gum Arabic Price in Greece (FOB) - 2022

The average gum arabic export price stood at $7,110 per ton in 2022, with a decrease of -34.8% against the previous year. Over the period under review, the export price continues to indicate a mild descent. The growth pace was the most rapid in 2019 when the average export price increased by 35% against the previous year. As a result, the export price reached the peak level of $11,152 per ton. From 2020 to 2022, the average export prices remained at a 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 Cyprus ($12,959 per ton), while the average price for exports to Croatia ($4,094 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 Cyprus (+12.4%), while the prices for the other major destinations experienced a decline.

Gum Arabic Imports in Greece

In 2022, supplies from abroad of gum arabics was finally on the rise to reach 156 tons after two years of decline. Over the period under review, total imports indicated a tangible expansion from 2019 to 2022: its volume increased at an average annual rate of +2.9% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, gum arabic imports surged to $739K in 2022. Overall, total imports indicated a remarkable increase from 2019 to 2022: its value increased at an average annual rate of +11.2% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Top Suppliers of Gum Arabic to Greece in 2022:

1. France (76.9 tons)
2. Sudan (44.0 tons)
3. Italy (21.6 tons)
4. Germany (7.5 tons)
5. Ireland (5.0 tons)

Gum Arabic Exports in Greece

For the fourth consecutive year, Greece recorded growth in shipments abroad of gum arabics, which increased by 26% to 6.4 tons in 2022. Overall, total exports indicated a strong increase from 2019 to 2022: its volume increased at an average annual rate of +17.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +60.2% against 2019 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, gum arabic exports declined rapidly to $45K in 2022. In general, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 46% against the previous year. As a result, the exports reached the peak of $55K, and then dropped notably in the following year.

Top Export Markets for Gum Arabic from Greece in 2022:

1. Romania (2792.0 kg)
2. Cyprus (1438.0 kg)
3. Bulgaria (1102.0 kg)
4. Spain (632.0 kg)
5. Austria (263.0 kg)
6. Croatia (105.0 kg)

Source: IndexBox Market Intelligence Platform