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

Contents:

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

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

In 2022, the average import price for lac; natural gums, resins, gum-resins and balsamses amounted to $787 per ton, which is down by -27.3% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 438% against the previous year. As a result, import price reached the peak level of $3,834 per ton. From 2019 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 India ($1,295 per ton), while the price for Indonesia ($451 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (-1.4%), while the prices for the other major suppliers experienced a decline.

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

The average export price for lac; natural gums, resins, gum-resins and balsamses stood at $1,298 per ton in 2022, shrinking by -23% against the previous year. In general, the export price continues to indicate a abrupt descent. The growth pace was the most rapid in 2020 an increase of 15%. Over the period under review, the average export prices hit record highs at $2,849 per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the rate of growth in terms of prices for Pakistan amounted to +43.1% per year.

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

In 2022, overseas purchases of lac; natural gums, resins, gum-resins and balsamses decreased by -30.5% to 941 tons, falling for the second consecutive year after two years of growth. In general, imports saw a perceptible shrinkage. The most prominent rate of growth was recorded in 2020 when imports increased by 41%. As a result, imports reached the peak of 1.5K tons. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of lac; natural gums, resins, gum-resins and balsamses dropped remarkably to $741K in 2022. Over the period under review, imports recorded a deep slump. The most prominent rate of growth was recorded in 2020 when imports increased by 97% against the previous year. As a result, imports reached the peak of $1.8M. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.

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

1. Indonesia (722.1 tons)
2. India (172.2 tons)
3. Malaysia (16.5 tons)

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

In 2022, shipments abroad of lac; natural gums, resins, gum-resins and balsamses decreased by -28% to 223 tons, falling for the second consecutive year after two years of growth. Over the period under review, exports continue to indicate a deep slump. The pace of growth appeared the most rapid in 2020 with an increase of 18%. As a result, the exports reached the peak of 346 tons. From 2021 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of lac; natural gums, resins, gum-resins and balsamses declined remarkably to $290K in 2022. In general, exports recorded a abrupt decrease. The pace of growth was the most pronounced in 2020 with an increase of 36% against the previous year. As a result, the exports reached the peak of $726K. From 2021 to 2022, the growth of the exports of remained at a lower figure.

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

1. India (222.8 tons)

Source: IndexBox Market Intelligence Platform