Gum Arabic Price in Hungary - 2023

Contents:

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

Gum Arabic Price in Hungary (CIF) - 2023

In June 2023, the average gum arabic import price amounted to $3,625 per ton, shrinking by -16.3% against the previous month. Over the period under review, import price indicated a temperate expansion from June 2022 to June 2023: its price increased at an average monthly rate of +3.0% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on June 2023 figures, gum arabic import price decreased by -16.3% against May 2023 indices. The pace of growth was the most pronounced in March 2023 when the average import price increased by 39% against the previous month. Over the period under review, average import prices reached the maximum at $4,331 per ton in May 2023, and then fell significantly in the following month.

Average prices varied somewhat amongst the major supplying countries. In June 2023, the country with the highest price was France ($4,004 per ton), while the price for Ireland stood at $3,188 per ton.

From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by France (+4.8%), while the prices for the other major suppliers experienced a decline.

Gum Arabic Price in Hungary (FOB) - 2022

The average gum arabic export price stood at $3,731 per ton in 2022, with an increase of 24% against the previous year. Overall, the export price, however, continues to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2017 an increase of 25%. The export price peaked at $6,228 per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Serbia ($16,899 per ton), while the average price for exports to France ($2,341 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 Serbia (+10.5%), while the prices for the other major destinations experienced mixed trend patterns.

Gum Arabic Imports in Hungary

After three years of growth, purchases abroad of gum arabics decreased by -7.5% to 1.2K tons in 2022. The total import volume increased at an average annual rate of +1.5% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of 11% against the previous year.

In value terms, gum arabic imports stood at $3.4M in 2022. The total import value increased at an average annual rate of +14.7% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 19%. Imports peaked in 2022 and are likely to continue growth in years to come.

Top Suppliers of Gum Arabic to Hungary in 2022:

1. France (1101.3 tons)
2. United Kingdom (53.8 tons)
3. Ireland (41.3 tons)
4. Germany (23.3 tons)

Gum Arabic Exports in Hungary

In 2022, the amount of gum arabics exported from Hungary soared to 11 tons, jumping by 87% on the previous year's figure. Overall, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 613% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in years to come.

In value terms, gum arabic exports surged to $43K in 2022. In general, exports saw a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 580%. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in the immediate term.

Top Export Markets for Gum Arabic from Hungary in 2022:

1. Switzerland (4.0 tons)
2. France (3.5 tons)
3. Egypt (3.3 tons)
4. Singapore (0.3 tons)

Source: IndexBox Market Intelligence Platform