Price for Lac; Natural Gums, Resins, Gum-Resins and Balsams in Canada - 2023

Contents:

1. Price for Lac; Natural Gums, Resins, Gum-Resins and Balsams in Canada (CIF) - 2023
2. Price for Lac; Natural Gums, Resins, Gum-Resins and Balsams in Canada (FOB) - 2022
3. Imports of Lac; Natural Gums, Resins, Gum-Resins and Balsams in Canada
4. Exports of Lac; Natural Gums, Resins, Gum-Resins and Balsams in Canada

Price for Lac; Natural Gums, Resins, Gum-Resins and Balsams in Canada (CIF) - 2023

The average import price for lac; natural gums, resins, gum-resins and balsamses stood at $7,740 per ton in December 2023, increasing by 7.9% against the previous month. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in August 2023 an increase of 53% against the previous month. Over the period under review, average import prices attained the maximum at $8,253 per ton in October 2023; however, from November 2023 to December 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In December 2023, the country with the highest price was China ($21,230 per ton), while the price for the UK ($3,994 per ton) was amongst the lowest.

From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by China (+5.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Lac; Natural Gums, Resins, Gum-Resins and Balsams in Canada (FOB) - 2022

In 2022, the average export price for lac; natural gums, resins, gum-resins and balsamses amounted to $8,144 per ton, which is down by -38.1% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of 138%. The export price peaked at $13,165 per ton in 2021, and then declined dramatically in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($10,721 per ton), while the average price for exports to Hong Kong SAR ($2,805 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 China (+4.2%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Lac; Natural Gums, Resins, Gum-Resins and Balsams in Canada

Imports of lac; natural gums, resins, gum-resins and balsamses into Canada rose notably to 2.2K tons in 2022, surging by 13% compared with 2021 figures. Overall, total imports indicated pronounced growth from 2019 to 2022: its volume increased at an average annual rate of +4.6% 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 +73.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 53% against the previous year. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, imports of lac; natural gums, resins, gum-resins and balsamses soared to $14M in 2022. In general, total imports indicated a remarkable increase from 2019 to 2022: its value increased at an average annual rate of +14.7% 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 +68.7% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Top Suppliers of Lac; Natural Gums, Resins, Gum-Resins and Balsams to Canada in 2022:

1. France (718.8 tons)
2. United States (512.9 tons)
3. China (307.2 tons)
4. United Kingdom (260.2 tons)
5. India (206.4 tons)
6. Ireland (41.8 tons)
7. Germany (36.7 tons)

Exports of Lac; Natural Gums, Resins, Gum-Resins and Balsams in Canada

In 2022, shipments abroad of lac; natural gums, resins, gum-resins and balsamses was finally on the rise to reach 372 tons for the first time since 2019, thus ending a two-year declining trend. In general, exports saw a prominent expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, exports of lac; natural gums, resins, gum-resins and balsamses skyrocketed to $3M in 2022. The total export value increased at an average annual rate of +11.5% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Top Export Markets for Lac; Natural Gums, Resins, Gum-Resins and Balsams from Canada in 2022:

1. United States (250.5 tons)
2. Vietnam (64.6 tons)
3. South Korea (23.2 tons)
4. Hong Kong SAR (18.7 tons)
5. China (8.0 tons)
6. Australia (0.2 tons)

Source: IndexBox Market Intelligence Platform