Petroleum Jelly Price in Hungary - 2023

Contents:

1. Petroleum Jelly Price in Hungary (FOB) - 2023
2. Petroleum Jelly Price in Hungary (CIF) - 2022
3. Petroleum Jelly Exports in Hungary
4. Petroleum Jelly Imports in Hungary

Petroleum Jelly Price in Hungary (FOB) - 2023

The average petroleum jelly export price stood at $2,462 per ton in July 2023, falling by -9.9% against the previous month. Overall, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in May 2023 an increase of 27% month-to-month. As a result, the export price reached the peak level of $2,742 per ton. From June 2023 to July 2023, the the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In July 2023, the country with the highest price was Russia ($4,212 per ton), while the average price for exports to Germany ($1,676 per ton) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+3.7%), while the prices for the other major destinations experienced more modest paces of growth.

Petroleum Jelly Price in Hungary (CIF) - 2022

In 2022, the average petroleum jelly import price amounted to $2,925 per ton, dropping by -18.4% against the previous year. Over the period under review, the import price continues to indicate a perceptible contraction. The most prominent rate of growth was recorded in 2017 when the average import price increased by 102% against the previous year. As a result, import price attained the peak level of $4,461 per ton. From 2018 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Czech Republic ($4,699 per ton), while the price for the Netherlands ($2,400 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+5.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Petroleum Jelly Exports in Hungary

In 2022, after three years of growth, there was significant decline in overseas shipments of petroleum jellies, when their volume decreased by -15.3% to 4.2K tons. The total export volume increased at an average annual rate of +4.7% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 with an increase of 34% against the previous year.

In value terms, petroleum jelly exports expanded significantly to $9.7M in 2022. Over the period under review, total exports indicated significant growth from 2019 to 2022: its value increased at an average annual rate of +20.6% 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 +75.4% against 2019 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 36% against the previous year. The exports peaked in 2022 and are likely to see steady growth in years to come.

Top Export Markets for Petroleum Jelly from Hungary in 2022:

1. France (1513.2 tons)
2. Poland (668.5 tons)
3. Russia (311.6 tons)
4. Netherlands (271.0 tons)
5. Czech Republic (244.4 tons)
6. Egypt (210.0 tons)
7. Austria (173.4 tons)
8. Romania (167.9 tons)
9. Germany (160.7 tons)
10. Indonesia (149.1 tons)
11. Slovakia (46.9 tons)
12. Turkey (19.6 tons)

Petroleum Jelly Imports in Hungary

After two years of decline, purchases abroad of petroleum jellies increased by 11% to 49 tons in 2022. In general, imports, however, recorded a dramatic setback.

In value terms, petroleum jelly imports declined to $144K in 2022. Over the period under review, imports, however, saw a abrupt shrinkage.

Top Suppliers of Petroleum Jelly to Hungary in 2022:

1. Netherlands (18.5 tons)
2. Germany (12.5 tons)
3. Belgium (5.9 tons)
4. Italy (5.6 tons)
5. Slovakia (3.4 tons)
6. Czech Republic (2.0 tons)
7. Romania (0.8 tons)

Source: IndexBox Market Intelligence Platform