Price for Terpenic Oils; Gum, Wood or Sulphate Turpentine Oils in China - 2023

Contents:

1. Price for Terpenic Oils; Gum, Wood or Sulphate Turpentine Oils in China (CIF) - 2023
2. Price for Terpenic Oils; Gum, Wood or Sulphate Turpentine Oils in China (FOB) - 2023
3. Imports of Terpenic Oils; Gum, Wood or Sulphate Turpentine Oils in China
4. Exports of Terpenic Oils; Gum, Wood or Sulphate Turpentine Oils in China

Price for Terpenic Oils; Gum, Wood or Sulphate Turpentine Oils in China (CIF) - 2023

In December 2023, the average import price for terpenic oils; gum, wood or sulphate turpentine oilses amounted to $1,665 per ton, remaining constant against the previous month. Overall, the import price saw a pronounced decline. The most prominent rate of growth was recorded in February 2023 when the average import price increased by 18% m-o-m. The import price peaked at $2,843 per ton in December 2022; however, from January 2023 to December 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In December 2023, the country with the highest price was Brazil ($1,784 per ton), while the price for Uganda ($1,065 per ton) was amongst the lowest.

From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by Russia (+5.5%), while the prices for the other major suppliers experienced a decline.

Price for Terpenic Oils; Gum, Wood or Sulphate Turpentine Oils in China (FOB) - 2023

The average export price for terpenic oils; gum, wood or sulphate turpentine oilses stood at $3,658 per ton in December 2023, waning by -23.9% against the previous month. In general, the export price saw a mild reduction. The most prominent rate of growth was recorded in November 2023 when the average export price increased by 32% against the previous month. As a result, the export price attained the peak level of $4,808 per ton, and then dropped significantly in the following month.

There were significant differences in the average prices for the major export markets. In December 2023, the country with the highest price was Hong Kong SAR ($4,680 per ton), while the average price for exports to Germany ($3,010 per ton) was amongst the lowest.

From December 2022 to December 2023, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+5.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Terpenic Oils; Gum, Wood or Sulphate Turpentine Oils in China

In 2022, purchases abroad of terpenic oils; gum, wood or sulphate turpentine oilses decreased by -67% to 2.6K tons, falling for the second consecutive year after two years of growth. In general, imports recorded a precipitous decline. The pace of growth was the most pronounced in 2020 with an increase of 28%. As a result, imports reached the peak of 9.5K tons. From 2021 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of terpenic oils; gum, wood or sulphate turpentine oilses contracted remarkably to $6.1M in 2022. Overall, imports showed a precipitous shrinkage. The pace of growth was the most pronounced in 2020 with an increase of 20%.

Top Suppliers of Terpenic Oils; Gum, Wood or Sulphate Turpentine Oils to China in 2022:

1. Vietnam (1453.9 tons)
2. Sweden (301.8 tons)
3. Russia (270.0 tons)
4. Indonesia (242.8 tons)
5. Brazil (121.6 tons)
6. Turkey (65.0 tons)
7. Japan (59.5 tons)
8. Argentina (59.3 tons)
9. Portugal (1.5 tons)

Exports of Terpenic Oils; Gum, Wood or Sulphate Turpentine Oils in China

In 2022, approx. 534 tons of terpenic oils; gum, wood or sulphate turpentine oilses were exported from China; jumping by 23% against the previous year. The total export volume increased at an average annual rate of +3.1% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of 27%. As a result, the exports reached the peak of 617 tons. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of terpenic oils; gum, wood or sulphate turpentine oilses expanded rapidly to $2.8M in 2022. In general, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by 13% against the previous year. Over the period under review, the exports of reached the maximum in 2022 and are expected to retain growth in years to come.

Top Export Markets for Terpenic Oils; Gum, Wood or Sulphate Turpentine Oils from China in 2022:

1. Germany (219.4 tons)
2. Hong Kong SAR (181.4 tons)
3. Philippines (51.8 tons)
4. Australia (42.0 tons)
5. Malaysia (14.2 tons)
6. South Africa (10.2 tons)
7. Japan (3.5 tons)

Source: IndexBox Market Intelligence Platform