Gum Arabic Price in Ireland - 2023

Contents:

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

Gum Arabic Price in Ireland (CIF) - 2023

In June 2023, the average gum arabic import price amounted to $6,211 per ton, increasing by 4.6% against the previous month. Over the period from June 2022 to June 2023, it increased at an average monthly rate of +1.6%. The pace of growth appeared the most rapid in April 2023 an increase of 12% m-o-m. As a result, import price attained the peak level of $6,237 per ton; afterwards, it flattened through to June 2023.

Average prices varied somewhat amongst the major supplying countries. In June 2023, the countries with the highest prices were Italy ($6,958 per ton) and the UK ($6,850 per ton), while the price for the United States ($5,156 per ton) and France ($5,644 per ton) were amongst the lowest.

From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by the UK (+2.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Gum Arabic Price in Ireland (FOB) - 2022

In 2022, the average gum arabic export price amounted to $1,844 per ton, with a decrease of -23.5% against the previous year. Overall, the export price continues to indicate a abrupt curtailment. The pace of growth was the most pronounced in 2018 when the average export price increased by 27%. The export price peaked at $4,678 per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($2,132 per ton), while the average price for exports to the United Arab Emirates ($866 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 South Africa (+18.4%), while the prices for the other major destinations experienced more modest paces of growth.

Gum Arabic Imports in Ireland

Gum arabic imports into Ireland was estimated at 2.7K tons in 2022, rising by 2.2% compared with the previous year's figure. The total import volume increased at an average annual rate of +4.9% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when imports increased by 16% against the previous year. As a result, imports attained the peak of 2.7K tons; afterwards, it flattened through to 2022.

In value terms, gum arabic imports expanded significantly to $15M in 2022. The total import value increased at an average annual rate of +8.7% from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2020 when imports increased by 19%. Imports peaked in 2022 and are expected to retain growth in the near future.

Top Suppliers of Gum Arabic to Ireland in 2022:

1. France (1260.7 tons)
2. United Kingdom (1220.5 tons)
3. Germany (116.9 tons)
4. United States (88.0 tons)
5. Italy (41.8 tons)

Gum Arabic Exports in Ireland

In 2022, shipments abroad of gum arabics was finally on the rise to reach 134 tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports saw strong growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, gum arabic exports skyrocketed to $248K in 2022. Over the period under review, exports, however, showed a abrupt contraction.

Top Export Markets for Gum Arabic from Ireland in 2022:

1. United Kingdom (88.8 tons)
2. France (32.6 tons)
3. United States (6.9 tons)
4. United Arab Emirates (6.0 tons)

Source: IndexBox Market Intelligence Platform