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

Contents:

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

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

The average export price for residues; of petroleum oils or of oils obtained from bituminous mineralses stood at $1,035 per ton in 2022, rising by 36% against the previous year. Overall, the export price continues to indicate a tangible increase. The growth pace was the most rapid in 2017 when the average export price increased by 78% against the previous year. The export price peaked in 2022 and is likely to continue growth in the near future.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Democratic Republic of the Congo ($7,016 per ton), while the average price for exports to Botswana ($366 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 Democratic Republic of the Congo (+10.9%), while the prices for the other major destinations experienced mixed trend patterns.

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

In 2022, the average import price for residues; of petroleum oils or of oils obtained from bituminous mineralses amounted to $154 per ton, reducing by -77.7% against the previous year. In general, the import price saw a abrupt curtailment. The pace of growth appeared the most rapid in 2018 an increase of 95% against the previous year. Over the period under review, average import prices reached the maximum at $1,075 per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Botswana ($175 per ton), while the price for Lesotho stood at $61 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+0.6%), while the prices for the other major suppliers experienced a decline.

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

For the third year in a row, South Africa recorded decline in shipments abroad of residues; of petroleum oils or of oils obtained from bituminous mineralses, which decreased by -2.8% to 239 tons in 2022. Over the period under review, exports recorded a precipitous curtailment.

In value terms, exports of residues; of petroleum oils or of oils obtained from bituminous mineralses skyrocketed to $247K in 2022. In general, exports showed a sharp decrease.

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

1. Zimbabwe (121.8 tons)
2. Namibia (65.9 tons)
3. Lesotho (39.1 tons)
4. Democratic Republic of the Congo (8.3 tons)

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

In 2022, the amount of residues; of petroleum oils or of oils obtained from bituminous mineralses imported into South Africa soared to 55 tons, growing by 611% against 2021. In general, imports, however, faced a deep setback.

In value terms, imports of residues; of petroleum oils or of oils obtained from bituminous mineralses soared to $8.5K in 2022. Overall, imports, however, continue to indicate a sharp slump.

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

1. Botswana (45.1 tons)
2. Lesotho (10.0 tons)

Source: IndexBox Market Intelligence Platform