Gum Arabic Price in Iraq - 2022

Contents:

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

Gum Arabic Price in Iraq (FOB) - 2022

In 2022, the average gum arabic export price amounted to $2,702 per ton, shrinking by -28.5% against the previous year. In general, the export price recorded a abrupt decline. The growth pace was the most rapid in 2015 when the average export price increased by 6.7% against the previous year. Over the period under review, the average export prices attained the peak figure at $9,615 per ton in 2012; however, from 2013 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 the United Arab Emirates.

From 2012 to 2022, the rate of growth in terms of prices for the United Arab Emirates amounted to -10.8% per year.

Gum Arabic Price in Iraq (CIF) - 2022

In 2022, the average gum arabic import price amounted to $2,759 per ton, with an increase of 2.3% against the previous year. In general, the import price enjoyed a prominent increase. The most prominent rate of growth was recorded in 2019 when the average import price increased by 88%. The import price peaked at $4,705 per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Turkey ($5,654 per ton), while the price for Kuwait ($1,575 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (+104.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Gum Arabic Exports in Iraq

In 2022, the amount of gum arabics exported from Iraq skyrocketed to 153 tons, growing by 561% compared with 2021 figures. In general, exports enjoyed a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, gum arabic exports surged to $414K in 2022. Overall, exports saw a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Top Export Markets for Gum Arabic from Iraq in 2022:

1. United Arab Emirates (152.1 tons)

Gum Arabic Imports in Iraq

In 2022, supplies from abroad of gum arabics decreased by -7.4% to 90 tons, falling for the second year in a row after two years of growth. In general, total imports indicated a temperate expansion from 2019 to 2022: its volume increased at an average annual rate of +2.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -30.4% against 2020 indices. The growth pace was the most rapid in 2020 with an increase of 56%. As a result, imports reached the peak of 130 tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, gum arabic imports shrank to $249K in 2022. Overall, imports, however, continue to indicate a perceptible expansion. The pace of growth was the most pronounced in 2020 with an increase of 120% against the previous year. As a result, imports attained the peak of $493K. From 2021 to 2022, the growth of imports failed to regain momentum.

Top Suppliers of Gum Arabic to Iraq in 2022:

1. Sudan (58.0 tons)
2. United Arab Emirates (25.8 tons)
3. Kuwait (3.6 tons)
4. Turkey (1.9 tons)

Source: IndexBox Market Intelligence Platform