Price for Lac; Natural Gums, Resins, Gum-Resins and Balsams in Myanmar - 2022

Contents:

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

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

The average export price for lac; natural gums, resins, gum-resins and balsamses stood at $1,946 per ton in December 2022, picking up by 12% against the previous month. Over the period under review, the export price saw a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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

From December 2021 to December 2022, the rate of growth in terms of prices for China amounted to +0.8% per month.

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

In 2022, the average import price for lac; natural gums, resins, gum-resins and balsamses amounted to $6,735 per ton, rising by 340% against the previous year. In general, the import price saw a buoyant expansion. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Kenya ($173,793 per ton), while the price for India amounted to $3,368 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kenya (+377.3%), while the prices for the other major suppliers experienced more modest paces of growth.

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

In 2022, exports of lac; natural gums, resins, gum-resins and balsamses from Myanmar skyrocketed to 3K tons, with an increase of 173% against 2021 figures. Overall, exports continue to indicate a significant increase. The pace of growth appeared the most rapid in 2020 when exports increased by 1,162%. Over the period under review, the exports of hit record highs in 2022 and are likely to see steady growth in the immediate term.

In value terms, exports of lac; natural gums, resins, gum-resins and balsamses surged to $5.3M in 2022. In general, exports recorded a significant increase. The pace of growth appeared the most rapid in 2020 with an increase of 963% against the previous year. Over the period under review, the exports of reached the peak figure in 2022 and are expected to retain growth in years to come.

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

1. China (3.0K tons)

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

In 2022, after three years of growth, there was significant decline in supplies from abroad of lac; natural gums, resins, gum-resins and balsamses, when their volume decreased by -99% to 1.5 tons. Overall, imports continue to indicate a sharp slump. The growth pace was the most rapid in 2021 when imports increased by 55% against the previous year. As a result, imports attained the peak of 141 tons, and then fell rapidly in the following year.

In value terms, imports of lac; natural gums, resins, gum-resins and balsamses declined significantly to $9.9K in 2022. In general, imports saw a precipitous setback. The smallest decline of -14.9% was in 2021.

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

1. India (1439.0 kg)
2. Kenya (29.0 kg)

Source: IndexBox Market Intelligence Platform