Petroleum Jelly Price in Sri Lanka - 2021

Contents:

1. Petroleum Jelly Price in Sri Lanka (CIF) - 2022
2. Petroleum Jelly Price in Sri Lanka (FOB) - 2022
3. Petroleum Jelly Imports in Sri Lanka
4. Petroleum Jelly Exports in Sri Lanka

Petroleum Jelly Price in Sri Lanka (CIF) - 2022

In 2022, the average petroleum jelly import price amounted to $1,810 per ton, rising by 13% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.9%. The most prominent rate of growth was recorded in 2013 an increase of 27% against the previous year. The import price peaked at $1,821 per ton in 2016; afterwards, it flattened through to 2022.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from the United Arab Emirates ($2,000 per ton) and India ($1,996 per ton), while the price for China ($1,336 per ton) and Turkey ($1,524 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+6.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Petroleum Jelly Price in Sri Lanka (FOB) - 2022

In 2022, the average petroleum jelly export price amounted to $310 per ton, with an increase of 6.9% against the previous year. Over the period under review, the export price, however, faced a dramatic setback. The pace of growth was the most pronounced in 2017 when the average export price increased by 14%. Over the period under review, the average export prices hit record highs at $4,946 per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for Maldives amounted to -23.8% per year.

Petroleum Jelly Imports in Sri Lanka

In 2022, the amount of petroleum jellies imported into Sri Lanka declined significantly to 284 tons, reducing by -20% compared with 2021. In general, imports showed a deep slump. The pace of growth appeared the most rapid in 2021 when imports increased by 8%.

In value terms, petroleum jelly imports contracted to $513K in 2022. Over the period under review, imports saw a noticeable decline. The most prominent rate of growth was recorded in 2021 with an increase of 33% against the previous year. As a result, imports reached the peak of $567K, and then contracted in the following year.

Top Suppliers of Petroleum Jelly to Sri Lanka in 2022:

1. United Arab Emirates (undefined tons)
2. India (158.2 tons)
3. Turkey (120.0 tons)
4. China (4.6 tons)

Petroleum Jelly Exports in Sri Lanka

In 2022, overseas shipments of petroleum jellies decreased by -3.3% to 3.8 tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, total exports indicated a remarkable increase from 2019 to 2022: its volume increased at an average annual rate of +19.6% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +71.3% against 2019 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 65% against the previous year.

In value terms, petroleum jelly exports rose modestly to $1.2K in 2022. Overall, exports recorded a pronounced contraction.

Top Export Markets for Petroleum Jelly from Sri Lanka in 2022:

1. Maldives (3.8 tons)

Source: IndexBox Market Intelligence Platform