Petroleum Jelly Price in Ghana - 2023

Petroleum Jelly Price in Ghana (CIF) - 2022

In 2022, the average petroleum jelly import price amounted to $1,230 per ton, declining by -12.7% against the previous year. Over the period under review, the import price recorded a noticeable slump. The most prominent rate of growth was recorded in 2021 an increase of 27% against the previous year. Over the period under review, average import prices hit record highs at $1,812 per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($2,060 per ton), while the price for Belgium ($789 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (+3.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Petroleum Jelly Price in Ghana (FOB) - 2022

The average petroleum jelly export price stood at $3,868 per ton in 2022, reducing by -5.1% against the previous year. Overall, the export price, however, enjoyed a prominent expansion. The growth pace was the most rapid in 2013 when the average export price increased by 60% against the previous year. The export price peaked at $4,077 per ton in 2021, and then reduced in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Burkina Faso ($34,268 per ton), while the average price for exports to Togo stood at $2,694 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Burkina Faso (+13.9%).

Petroleum Jelly Imports in Ghana

In 2022, purchases abroad of petroleum jellies increased by 26% to 2.5K tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, recorded a deep setback.

In value terms, petroleum jelly imports rose remarkably to $3M in 2022. In general, imports, however, recorded a abrupt contraction.

Import of Petroleum Jelly in Ghana (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Netherlands	1,175	887	758	1,079	-2.8%
Germany	1,690	1,624	1,339	798	-22.1%
India	122	111	101	402	48.8%
United Arab Emirates	134	286	214	260	24.7%
Belgium	93.0	67.3	55.2	75.4	-6.8%
France	69.3	51.4	43.1	60.3	-4.5%
Italy	29.4	38.4	34.1	50.5	19.8%
Others	350	245	224	315	-3.5%
Total	3,664	3,310	2,769	3,040	-6.0%

Top Suppliers of Petroleum Jelly to Ghana in 2022:

Netherlands (1165.9 tons)
Germany (387.2 tons)
United Arab Emirates (300.5 tons)
India (234.6 tons)
Belgium (95.6 tons)
France (45.0 tons)
Italy (37.4 tons)

Petroleum Jelly Exports in Ghana

Petroleum jelly exports from Ghana reached 16 tons in 2022, increasing by 15% compared with 2021. In general, exports continue to indicate significant growth. The pace of growth was the most pronounced in 2020 when exports increased by 209%. As a result, the exports attained the peak of 19 tons. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, petroleum jelly exports expanded markedly to $62K in 2022. Overall, exports continue to indicate a significant increase. The growth pace was the most rapid in 2020 when exports increased by 262%. As a result, the exports reached the peak of $67K. From 2021 to 2022, the growth of the exports remained at a lower figure.