Waxes; Artificial, Prepared Price in Portugal - 2023

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

The average waxes; artificial, prepared import price stood at $3,034 per ton in July 2023, declining by -25.9% against the previous month. Overall, the import price continues to indicate a slight descent. The most prominent rate of growth was recorded in February 2023 an increase of 38% against the previous month. As a result, import price reached the peak level of $4,338 per ton. From March 2023 to July 2023, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In July 2023, the country with the highest price was Spain ($3,739 per ton), while the price for China ($1,334 per ton) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Spain (+2.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Waxes; Artificial, Prepared Price in Portugal (FOB) - 2023

The average waxes; artificial, prepared export price stood at $916 per ton in July 2023, reducing by -9.7% against the previous month. Over the period under review, the export price showed a mild setback. The growth pace was the most rapid in January 2023 an increase of 43% m-o-m. As a result, the export price attained the peak level of $1,571 per ton. From February 2023 to July 2023, the the average export prices remained at a lower figure.

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

From July 2022 to July 2023, the rate of growth in terms of prices for Spain amounted to -0.6% per month.

Waxes; Artificial, Prepared Imports in Portugal

In 2022, the amount of waxes; artificial, prepared imported into Portugal fell rapidly to 5.4K tons, waning by -24.4% against the year before. Overall, imports showed a abrupt setback. The pace of growth appeared the most rapid in 2021 with an increase of 34% against the previous year. As a result, imports attained the peak of 7.1K tons, and then dropped sharply in the following year.

In value terms, waxes; artificial, prepared imports fell to $21M in 2022. Over the period under review, total imports indicated a resilient increase from 2019 to 2022: its value increased at an average annual rate of +12.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +55.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 56%. As a result, imports reached the peak of $21M, leveling off in the following year.

Import of Waxes; Artificial, Prepared in Portugal (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Germany	3.8	4.2	5.6	6.5	19.6%
Spain	4.3	3.9	7.0	6.5	14.8%
China	0.5	0.3	1.2	1.4	40.9%
Indonesia	1.8	1.3	2.0	0.9	-20.6%
Netherlands	0.6	0.8	0.4	0.8	10.1%
Denmark	0.5	0.5	0.6	0.7	11.9%
Italy	0.5	0.3	0.4	0.6	6.3%
India	0.3	N/A	0.3	0.6	26.0%
Ireland	N/A	0.1	0.1	0.6	144.9%
Belgium	1.0	0.8	1.4	0.6	-15.7%
Others	1.4	1.1	1.9	1.3	-2.4%
Total	14.6	13.3	20.8	20.7	12.3%

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

Spain (1849.0 tons)
Germany (1614.3 tons)
Indonesia (427.4 tons)
China (329.8 tons)
Ireland (194.4 tons)
Italy (172.1 tons)
Denmark (134.9 tons)
Netherlands (134.3 tons)
Belgium (128.3 tons)
India (105.6 tons)

Waxes; Artificial, Prepared Exports in Portugal

In 2022, approx. 5K tons of waxes; artificial, prepared were exported from Portugal; picking up by 6.9% against 2021 figures. Over the period under review, total exports indicated a prominent expansion from 2019 to 2022: its volume increased at an average annual rate of +8.4% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +89.2% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 77% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, waxes; artificial, prepared exports surged to $5.5M in 2022. In general, exports posted a significant expansion. The pace of growth appeared the most rapid in 2021 when exports increased by 112%. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in years to come.