Waxes; Artificial, Prepared Price in Pakistan - 2023

Contents:

1. Waxes; Artificial, Prepared Price in Pakistan (CIF) - 2023
2. Waxes; Artificial, Prepared Price in Pakistan (FOB) - 2022
3. Waxes; Artificial, Prepared Imports in Pakistan
4. Waxes; Artificial, Prepared Exports in Pakistan

Waxes; Artificial, Prepared Price in Pakistan (CIF) - 2023

In February 2023, the average waxes; artificial, prepared import price amounted to $2,114 per ton, declining by -8.3% against the previous month. Overall, the import price recorded a perceptible reduction. The pace of growth was the most pronounced in October 2022 an increase of 12% month-to-month. The import price peaked at $3,257 per ton in May 2022; however, from June 2022 to February 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In February 2023, the country with the highest price was Belgium ($2,733 per ton), while the price for Italy ($1,424 per ton) was amongst the lowest.

From February 2022 to February 2023, the most notable rate of growth in terms of prices was attained by Malaysia (+1.5%), while the prices for the other major suppliers experienced a decline.

Waxes; Artificial, Prepared Price in Pakistan (FOB) - 2022

The average waxes; artificial, prepared export price stood at $1,963 per ton in 2022, stabilizing at the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the average export price increased by 30% against the previous year. As a result, the export price reached the peak level of $3,393 per ton. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Bangladesh ($2,086 per ton), while the average price for exports to the United Arab Emirates stood at $1,751 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Oman (+62.8%), while the prices for the other major destinations experienced more modest paces of growth.

Waxes; Artificial, Prepared Imports in Pakistan

For the fourth consecutive year, Pakistan recorded growth in purchases abroad of waxes; artificial, prepared, which increased by 1.5% to 6.7K tons in 2022. Overall, total imports indicated strong growth from 2019 to 2022: its volume increased at an average annual rate of +17.6% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +62.4% against 2019 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 41% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

In value terms, waxes; artificial, prepared imports amounted to $17M in 2022. The total import value increased at an average annual rate of +8.7% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 35% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

Top Suppliers of Waxes; Artificial, Prepared to Pakistan in 2022:

1. China (1200.9 tons)
2. Germany (851.2 tons)
3. Saudi Arabia (737.2 tons)
4. Belgium (731.2 tons)
5. Singapore (656.3 tons)
6. United States (552.8 tons)
7. South Korea (512.0 tons)
8. Spain (272.9 tons)
9. Malaysia (220.2 tons)
10. Italy (202.4 tons)
11. Thailand (149.7 tons)

Waxes; Artificial, Prepared Exports in Pakistan

Waxes; artificial, prepared exports from Pakistan reduced rapidly to 22 tons in 2022, falling by -46.2% against 2021. Over the period under review, exports saw a noticeable reduction. The most prominent rate of growth was recorded in 2021 with an increase of 1,217%. As a result, the exports reached the peak of 41 tons, and then declined markedly in the following year.

In value terms, waxes; artificial, prepared exports fell dramatically to $43K in 2022. In general, exports saw a dramatic decline. The most prominent rate of growth was recorded in 2021 with an increase of 1,115% against the previous year.

Top Export Markets for Waxes; Artificial, Prepared from Pakistan in 2022:

1. Bangladesh (13.8 tons)
2. United Arab Emirates (8.1 tons)

Source: IndexBox Market Intelligence Platform