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

Contents:

1. Price for Terpenic Oils; Gum, Wood or Sulphate Turpentine Oils in the UK (CIF) - 2022
2. Price for Terpenic Oils; Gum, Wood or Sulphate Turpentine Oils in the UK (FOB) - 2022
3. Imports of Terpenic Oils; Gum, Wood or Sulphate Turpentine Oils in the UK
4. Exports of Terpenic Oils; Gum, Wood or Sulphate Turpentine Oils in the UK

Price for Terpenic Oils; Gum, Wood or Sulphate Turpentine Oils in the UK (CIF) - 2022

In 2022, the average import price for terpenic oils; gum, wood or sulphate turpentine oilses amounted to $6,016 per ton, jumping by 38% against the previous year. Overall, the import price enjoyed prominent growth. The most prominent rate of growth was recorded in 2018 an increase of 56%. Over the period under review, average import prices reached the maximum in 2022 and is likely to continue growth in years to come.

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 Ireland ($17,800 per ton), while the price for Germany ($3,583 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+45.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Terpenic Oils; Gum, Wood or Sulphate Turpentine Oils in the UK (FOB) - 2022

In 2022, the average export price for terpenic oils; gum, wood or sulphate turpentine oilses amounted to $6,905 per ton, declining by -25.6% against the previous year. Over the period under review, the export price, however, recorded a mild expansion. The most prominent rate of growth was recorded in 2019 an increase of 67%. As a result, the export price attained the peak level of $10,179 per ton. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Indonesia ($15,509 per ton), while the average price for exports to the United Arab Emirates ($4,124 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 Nigeria (+16.3%), 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 the UK

In 2022, after three years of growth, there was significant decline in overseas purchases of terpenic oils; gum, wood or sulphate turpentine oilses, when their volume decreased by -57.1% to 104 tons. Overall, imports showed a perceptible reduction. The most prominent rate of growth was recorded in 2021 with an increase of 104% against the previous year. As a result, imports reached the peak of 241 tons, and then reduced markedly in the following year.

In value terms, imports of terpenic oils; gum, wood or sulphate turpentine oilses dropped rapidly to $623K in 2022. Over the period under review, imports, however, posted a prominent increase. The most prominent rate of growth was recorded in 2021 when imports increased by 121%. As a result, imports attained the peak of $1.1M, and then shrank dramatically in the following year.

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

1. Germany (25.7 tons)
2. Spain (23.6 tons)
3. Brazil (16.9 tons)
4. Portugal (15.0 tons)
5. United States (10.3 tons)
6. India (7.1 tons)
7. France (3.8 tons)

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

Exports of terpenic oils; gum, wood or sulphate turpentine oilses from the UK declined significantly to 32 tons in 2022, which is down by -38.3% on the previous year. Overall, exports recorded a abrupt downturn. The pace of growth was the most pronounced in 2021 with an increase of 29%. As a result, the exports reached the peak of 51 tons, and then shrank markedly in the following year.

In value terms, exports of terpenic oils; gum, wood or sulphate turpentine oilses reduced dramatically to $218K in 2022. Over the period under review, exports faced a deep contraction. The pace of growth was the most pronounced in 2021 when exports increased by 111%. As a result, the exports reached the peak of $475K, and then shrank dramatically in the following year.

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

1. France (18.4 tons)
2. Mexico (2.0 tons)
3. Nigeria (1.7 tons)
4. United Arab Emirates (1.5 tons)
5. United States (1.4 tons)
6. Indonesia (1.3 tons)
7. Saint Lucia (1.2 tons)
8. Ireland (1.1 tons)
9. Germany (0.8 tons)
10. Austria (0.6 tons)
11. Singapore (0.5 tons)

Source: IndexBox Market Intelligence Platform