Petroleum Jelly Price in the UK - 2023

Contents:

1. Petroleum Jelly Price in the UK (FOB) - 2022
2. Petroleum Jelly Price in the UK (CIF) - 2023
3. Petroleum Jelly Exports in the UK
4. Petroleum Jelly Imports in the UK

Petroleum Jelly Price in the UK (FOB) - 2022

The average petroleum jelly export price stood at $2,809 per ton in 2022, with a decrease of -1.6% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of 38% against the previous year. As a result, the export price reached the peak level of $4,180 per ton. From 2021 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Sweden ($7,638 per ton), while the average price for exports to Australia ($1,927 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 Russia (+27.7%), while the prices for the other major destinations experienced more modest paces of growth.

Petroleum Jelly Price in the UK (CIF) - 2023

In August 2023, the average petroleum jelly import price amounted to $2,947 per ton, waning by -40.4% against the previous month. Over the period under review, the import price recorded a mild setback. The pace of growth appeared the most rapid in July 2023 an increase of 68% against the previous month. The import price peaked at $5,017 per ton in September 2022; however, from October 2022 to August 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In August 2023, the country with the highest price was the United States ($3,910 per ton), while the price for the Netherlands ($2,271 per ton) was amongst the lowest.

From August 2022 to August 2023, the most notable rate of growth in terms of prices was attained by South Africa (+2.5%), while the prices for the other major suppliers experienced a decline.

Petroleum Jelly Exports in the UK

In 2022, petroleum jelly exports from the UK surged to 4K tons, rising by 26% on the year before. Over the period under review, total exports indicated a buoyant increase from 2019 to 2022: its volume increased at an average annual rate of +7.4% 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 +77.9% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 41% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, petroleum jelly exports soared to $11M in 2022. The total export value increased at an average annual rate of +4.9% from 2019 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Top Export Markets for Petroleum Jelly from the UK in 2022:

1. Australia (2132.1 tons)
2. United States (288.4 tons)
3. Norway (212.5 tons)
4. Poland (212.4 tons)
5. Netherlands (201.4 tons)
6. Germany (170.4 tons)
7. Spain (109.9 tons)
8. Italy (72.1 tons)
9. Taiwan (Chinese) (54.7 tons)
10. Japan (40.0 tons)
11. France (36.4 tons)
12. Ireland (34.2 tons)
13. Pakistan (0.5 tons)

Petroleum Jelly Imports in the UK

In 2022, imports of petroleum jellies into the UK soared to 2.9K tons, picking up by 20% compared with the previous year. The total import volume increased at an average annual rate of +9.5% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, petroleum jelly imports surged to $9.3M in 2022. In general, total imports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +15.9% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +55.5% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 21%. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

Top Suppliers of Petroleum Jelly to the UK in 2022:

1. India (1365.6 tons)
2. South Africa (564.3 tons)
3. Netherlands (558.1 tons)
4. Germany (249.1 tons)
5. United States (74.9 tons)
6. Ireland (9.2 tons)

Source: IndexBox Market Intelligence Platform