Price for Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Serbia - 2023

Contents:

1. Price for Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Serbia (CIF) - 2022
2. Price for Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Serbia (FOB) - 2022
3. Imports of Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Serbia
4. Exports of Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Serbia

Price for Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Serbia (CIF) - 2022

The average import price for residues; of petroleum oils or of oils obtained from bituminous mineralses stood at $1,008 per ton in 2022, picking up by 30% against the previous year. Over the period under review, the import price, however, showed a mild setback. Over the period under review, average import prices attained the peak figure at $1,114 per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Russia ($1,380 per ton), while the price for Italy ($975 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+10.7%), while the prices for the other major suppliers experienced a decline.

Price for Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Serbia (FOB) - 2022

In 2022, the average export price for residues; of petroleum oils or of oils obtained from bituminous mineralses amounted to $302 per ton, approximately mirroring the previous year. Overall, the export price continues to indicate a deep setback. The pace of growth was the most pronounced in 2020 when the average export price increased by 1,449% against the previous year. As a result, the export price reached the peak level of $6,000 per ton. From 2021 to 2022, the average export prices remained at a somewhat lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for Belgium amounted to +35.9% per year.

Imports of Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Serbia

In 2022, the amount of residues; of petroleum oils or of oils obtained from bituminous mineralses imported into Serbia dropped remarkably to 1.3K tons, with a decrease of -36.1% on 2021 figures. Overall, imports continue to indicate a pronounced slump. The pace of growth appeared the most rapid in 2021 with an increase of 70%. As a result, imports attained the peak of 2K tons, and then contracted markedly in the following year.

In value terms, imports of residues; of petroleum oils or of oils obtained from bituminous mineralses contracted notably to $1.3M in 2022. In general, imports, however, enjoyed a strong increase. The pace of growth appeared the most rapid in 2021 when imports increased by 108%. As a result, imports attained the peak of $1.6M, and then contracted sharply in the following year.

Top Suppliers of Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals to Serbia in 2022:

1. Poland (1137.8 tons)
2. Italy (103.7 tons)
3. Russia (68.4 tons)

Exports of Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Serbia

For the third year in a row, Serbia recorded decline in overseas shipments of residues; of petroleum oils or of oils obtained from bituminous mineralses, which decreased by 0% to 1.3 tons in 2022. Over the period under review, exports saw a significant increase. The smallest decline of -99.8% was in 2020. Over the period under review, the exports of hit record highs in 2022 and are likely to see steady growth in the near future.

In value terms, exports of residues; of petroleum oils or of oils obtained from bituminous mineralses amounted to $386 in 2022. In general, exports showed a remarkable increase. The smallest decline of -97.4% was in 2020. Over the period under review, the exports of attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Top Export Markets for Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals from Serbia in 2022:

1. Montenegro (1.3 tons)

Source: IndexBox Market Intelligence Platform