Price for Acids; Saturated Acyclic Monocarboxylic Acids; Esters of Formic Acid in Venezuela - 2022

Contents:

  1. Price for Acids; Saturated Acyclic Monocarboxylic Acids; Esters of Formic Acid in Venezuela (CIF) - 2022
  2. Imports of Acids; Saturated Acyclic Monocarboxylic Acids; Esters of Formic Acid in Venezuela

Price for Acids; Saturated Acyclic Monocarboxylic Acids; Esters of Formic Acid in Venezuela (CIF) - 2022

In 2022, the average import price for acids; saturated acyclic monocarboxylic acids; esters of formic acids amounted to $1,993 per ton, rising by 3.8% against the previous year. In general, the import price, however, continues to indicate a deep slump. The growth pace was the most rapid in 2013 an increase of 19% against the previous year. As a result, import price reached the peak level of $8,968 per ton. From 2014 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Brazil ($4,148 per ton), while the price for the United States ($532 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (-5.0%), while the prices for the other major suppliers experienced a decline.

Imports of Acids; Saturated Acyclic Monocarboxylic Acids; Esters of Formic Acid in Venezuela

For the fourth consecutive year, Venezuela recorded growth in supplies from abroad of acids; saturated acyclic monocarboxylic acids; esters of formic acids, which increased by 2.2% to 25 tons in 2022. Over the period under review, total imports indicated strong growth from 2019 to 2022: its volume increased at an average annual rate of +18.8% 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 +67.7% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 60% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, imports of acids; saturated acyclic monocarboxylic acids; esters of formic acids totaled $51K in 2022. The total import value increased at an average annual rate of +9.5% over the period from 2019 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The pace of growth was the most pronounced in 2020 when imports increased by 16%. Imports peaked in 2022 and are likely to continue growth in years to come.

Import of Acids; Saturated Acyclic Monocarboxylic Acids; Esters of Formic Acid in Venezuela (Thousand USD)
COUNTRY2019202020212022CAGR,
2019-2022
Brazil26.529.330.832.06.5%
United Kingdom7.711.413.115.024.9%
United States2.22.22.11.9-4.8%
Colombia1.91.81.61.4-9.7%
Others0.30.20.10.30.0%
Total38.644.947.750.69.4%

Top Suppliers of Acids; Saturated Acyclic Monocarboxylic Acids; Esters of Formic Acid to Venezuela in 2022:

  1. United Kingdom (13.3 tons)
  2. Brazil (7.7 tons)
  3. United States (3.6 tons)
  4. Colombia (0.7 tons)

Source: IndexBox Market Intelligence Platform

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