Petroleum Jelly Price in the Philippines - 2023
Contents:
- Petroleum Jelly Price in the Philippines (CIF) - 2022
- Petroleum Jelly Price in the Philippines (FOB) - 2022
- Petroleum Jelly Imports in the Philippines
- Petroleum Jelly Exports in the Philippines
Petroleum Jelly Price in the Philippines (CIF) - 2022
The average petroleum jelly import price stood at $2,522 per ton in 2022, jumping by 16% against the previous year. Overall, import price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, petroleum jelly import price increased by +68.4% against 2016 indices. The pace of growth appeared the most rapid in 2019 when the average import price increased by 31% against the previous year. The import price peaked at $2,565 per ton in 2013; however, from 2014 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 France ($5,414 per ton), while the price for China ($1,603 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Petroleum Jelly Price in the Philippines (FOB) - 2022
In 2022, the average petroleum jelly export price amounted to $43,667 per ton, surging by 18% against the previous year. Over the period under review, the export price, however, continues to indicate a mild slump. Over the period under review, the average export prices attained the maximum at $47,214 per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($122,000 per ton), while the average price for exports to Palau ($1,000 per ton) was amongst the lowest.
From 2016 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Brunei Darussalam (+41.4%).
Petroleum Jelly Imports in the Philippines
In 2022, overseas purchases of petroleum jellies were finally on the rise to reach 616 tons after two years of decline. Over the period under review, imports, however, faced a abrupt contraction.
In value terms, petroleum jelly imports surged to $1.6M in 2022. Overall, imports, however, continue to indicate a deep slump.
| Import of Petroleum Jelly in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 637 | 365 | 477 | 815 | 8.6% |
| China | 123 | 72.8 | 113 | 248 | 26.3% |
| Germany | 321 | 116 | 49.5 | 227 | -10.9% |
| India | 139 | 212 | 87.4 | 157 | 4.1% |
| France | 160 | 68.7 | 16.6 | 72.0 | -23.4% |
| South Korea | 52.4 | 10.6 | 17.0 | N/A | -43.0% |
| Canada | 10.6 | 13.0 | 14.2 | N/A | 15.7% |
| Others | 551 | 237 | 224 | 34.3 | -60.4% |
| Total | 1,994 | 1,095 | 998 | 1,555 | -8.0% |
Top Suppliers of Petroleum Jelly to the Philippines in 2022:
- United States (239.7 tons)
- China (154.9 tons)
- Germany (107.2 tons)
- India (95.3 tons)
- France (13.3 tons)
Petroleum Jelly Exports in the Philippines
In 2022, petroleum jelly exports from the Philippines reduced notably to 3 kg, with a decrease of -57.1% compared with 2021 figures. Overall, exports recorded a significant decrease.
In value terms, petroleum jelly exports fell notably to $131 in 2022. In general, exports continue to indicate a dramatic setback.
| Export of Petroleum Jelly in the Philippines (USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2021 | 2022 | CAGR, 2021-2022 | ||
| Canada | 180 | 122 | -32.2% | ||
| Brunei Darussalam | 10.0 | 8.0 | -20.0% | ||
| Palau | 1.0 | 1.0 | 0.0% | ||
| France | 26.0 | N/A | 0% | ||
| United Arab Emirates | 7.0 | N/A | 0% | ||
| Taiwan (Chinese) | 5.0 | N/A | 0% | ||
| Others | 30.0 | N/A | 0% | ||
| Total | 259 | 131 | -49.4% | ||
Top Export Markets for Petroleum Jelly from the Philippines in 2022:
- Canada (1.0 kg)
- Palau (1.0 kg)
- Brunei Darussalam (1.0 kg)
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