Petroleum Jelly Price in Colombia - 2022

Petroleum Jelly Price in Colombia (CIF) - 2022

The average petroleum jelly import price stood at $2,389 per ton in February 2022, falling by -3% against the previous month. Over the last twelve months, it increased at an average monthly rate of +1.0%. The pace of growth was the most pronounced in December 2021 when the average import price increased by 15% m-o-m. As a result, import price attained the peak level of $2,855 per ton. From January 2022 to February 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In February 2022, the country with the highest price was the United States ($7,177 per ton), while the price for China ($2,252 per ton) was amongst the lowest.

From February 2021 to February 2022, the most notable rate of growth in terms of prices was attained by the United States (+7.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Petroleum Jelly Price in Colombia (FOB) - 2022

The average petroleum jelly export price stood at $4,149 per ton in 2022, with a decrease of -9.7% against the previous year. Over the period under review, export price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, petroleum jelly export price increased by +66.8% against 2016 indices. The most prominent rate of growth was recorded in 2013 an increase of 59%. Over the period under review, the average export prices hit record highs at $4,594 per ton in 2021, and then fell in the following year.

As there is only one major export destination, the average price level is determined by prices for Ecuador.

From 2012 to 2022, the rate of growth in terms of prices for Peru amounted to +6.8% per year.

Petroleum Jelly Imports in Colombia

In 2022, petroleum jelly imports into Colombia shrank to 1.4K tons, waning by -14.2% on 2021 figures. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 40% against the previous year. As a result, imports attained the peak of 1.6K tons, and then declined in the following year.

In value terms, petroleum jelly imports shrank remarkably to $3M in 2022. Over the period under review, total imports indicated noticeable growth from 2019 to 2022: its value increased at an average annual rate of +2.5% 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 increased by +30.7% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 61% against the previous year. As a result, imports reached the peak of $3.7M, and then declined notably in the following year.

Import of Petroleum Jelly in Colombia (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	1,268	974	1,440	1,169	-2.7%
Germany	810	729	1,333	1,082	10.1%
India	396	320	620	503	8.3%
Netherlands	332	287	324	263	-7.5%
Others	1.5	1.8	11.4	1.1	-9.8%
Total	2,807	2,311	3,728	3,020	2.5%

Top Suppliers of Petroleum Jelly to Colombia in 2022:

Germany (556.2 tons)
United States (465.8 tons)
India (277.9 tons)
Netherlands (104.2 tons)

Petroleum Jelly Exports in Colombia

In 2022, overseas shipments of petroleum jellies were finally on the rise to reach 1.1 tons after two years of decline. Over the period under review, exports, however, continue to indicate a precipitous decline.

In value terms, petroleum jelly exports dropped to $4.6K in 2022. Overall, exports, however, faced a significant decline. The pace of growth appeared the most rapid in 2021 with an increase of 20%.