Price for Lac; Natural Gums, Resins, Gum-Resins and Balsams in Turkey - 2023
Contents:
- Price for Lac; Natural Gums, Resins, Gum-Resins and Balsams in Turkey (CIF) - 2022
- Price for Lac; Natural Gums, Resins, Gum-Resins and Balsams in Turkey (FOB) - 2022
- Imports of Lac; Natural Gums, Resins, Gum-Resins and Balsams in Turkey
- Exports of Lac; Natural Gums, Resins, Gum-Resins and Balsams in Turkey
Price for Lac; Natural Gums, Resins, Gum-Resins and Balsams in Turkey (CIF) - 2022
In 2022, the average import price for lac; natural gums, resins, gum-resins and balsamses amounted to $3,933 per ton, picking up by 22% against the previous year. Over the period under review, the import price, however, showed a pronounced setback. Over the period under review, average import prices hit record highs at $5,863 per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Somalia ($11,830 per ton), while the price for the United Arab Emirates ($1,687 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Somalia (+10.1%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Lac; Natural Gums, Resins, Gum-Resins and Balsams in Turkey (FOB) - 2022
In 2022, the average export price for lac; natural gums, resins, gum-resins and balsamses amounted to $5,252 per ton, waning by -10.4% against the previous year. Overall, the export price, however, enjoyed noticeable growth. The most prominent rate of growth was recorded in 2015 when the average export price increased by 79% against the previous year. Over the period under review, the average export prices reached the maximum at $6,700 per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.
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 Germany ($13,258 per ton), while the average price for exports to Romania ($2,259 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 Somalia (+40.2%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Lac; Natural Gums, Resins, Gum-Resins and Balsams in Turkey
In 2022, imports of lac; natural gums, resins, gum-resins and balsamses into Turkey expanded significantly to 2.6K tons, growing by 5.6% on 2021 figures. The total import volume increased at an average annual rate of +13.9% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 48% against the previous year. Over the period under review, imports of reached the peak figure in 2022 and are likely to see steady growth in years to come.
In value terms, imports of lac; natural gums, resins, gum-resins and balsamses skyrocketed to $10M in 2022. Overall, total imports indicated a buoyant increase from 2019 to 2022: its value increased at an average annual rate of +13.1% 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 +44.7% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Lac; Natural Gums, Resins, Gum-Resins and Balsams in Turkey (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| France | 2.7 | 3.4 | 4.4 | 5.3 | 25.2% |
| India | 0.5 | 0.5 | 0.5 | 1.3 | 37.5% |
| Somalia | 1.8 | 0.2 | 0.5 | 0.6 | -30.7% |
| United Arab Emirates | N/A | N/A | N/A | 0.5 | 0% |
| Germany | 0.4 | 0.5 | 0.5 | 0.5 | 7.7% |
| Sudan | 0.2 | 0.2 | 0.5 | 0.3 | 14.5% |
| Others | 1.6 | 2.3 | 1.7 | 1.8 | 4.0% |
| Total | 7.2 | 7.2 | 8.0 | 10.4 | 13.0% |
Top Suppliers of Lac; Natural Gums, Resins, Gum-Resins and Balsams to Turkey in 2022:
- France (1637.7 tons)
- India (344.4 tons)
- United Arab Emirates (319.0 tons)
- Sudan (131.9 tons)
- Germany (51.6 tons)
- Somalia (50.6 tons)
Exports of Lac; Natural Gums, Resins, Gum-Resins and Balsams in Turkey
Exports of lac; natural gums, resins, gum-resins and balsamses from Turkey skyrocketed to 245 tons in 2022, rising by 95% against the year before. Over the period under review, exports saw a significant 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 $1.3M in 2022. In general, exports posted significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 84% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.
| Export of Lac; Natural Gums, Resins, Gum-Resins and Balsams in Turkey (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 16.1 | 5.5 | 53.4 | 208 | 134.6% |
| Somalia | N/A | N/A | 0.6 | 143 | 23733.3% |
| Iran | 75.4 | 92.6 | 129 | 137 | 22.0% |
| Russia | 0.2 | 0.4 | N/A | 137 | 781.5% |
| Romania | N/A | 14.4 | 51.8 | 109 | 175.1% |
| United Arab Emirates | 1.5 | 1.3 | 2.6 | 56.3 | 234.8% |
| Azerbaijan | 3.3 | 16.7 | 23.5 | 42.4 | 134.2% |
| Uzbekistan | 19.3 | 0.3 | 4.3 | 27.3 | 12.3% |
| Iraq | 54.2 | 57.6 | 18.5 | 26.3 | -21.4% |
| Tunisia | 46.3 | N/A | 10.1 | 22.9 | -20.9% |
| Greece | N/A | N/A | N/A | 17.2 | 0% |
| Indonesia | N/A | 0.7 | 0.8 | 11.5 | 305.3% |
| Egypt | N/A | 64.1 | 1.8 | 0.7 | -89.5% |
| Others | 144 | 411 | 441 | 348 | 34.2% |
| Total | 360 | 664 | 737 | 1,287 | 52.9% |
Top Export Markets for Lac; Natural Gums, Resins, Gum-Resins and Balsams from Turkey in 2022:
- Romania (48.5 tons)
- Russia (43.2 tons)
- United States (38.0 tons)
- Iran (25.0 tons)
- Somalia (14.8 tons)
- United Arab Emirates (12.3 tons)
- Azerbaijan (9.9 tons)
- Uzbekistan (8.2 tons)
- Tunisia (6.6 tons)
- Iraq (6.6 tons)
- Greece (4.6 tons)
- Indonesia (3.7 tons)
- Egypt (0.5 tons)
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