Price for Article of Natural Cork in the UK - 2023

Contents:

1. Price for Article of Natural Cork in the UK (CIF) - 2022
2. Price for Article of Natural Cork in the UK (FOB) - 2022
3. Imports of Article of Natural Cork in the UK
4. Exports of Article of Natural Cork in the UK

Price for Article of Natural Cork in the UK (CIF) - 2022

In 2022, the average article of natural cork import price amounted to $20,995 per ton, increasing by 25% against the previous year. Over the period under review, import price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, article of natural cork import price increased by +29.3% against 2020 indices. The most prominent rate of growth was recorded in 2014 when the average import price increased by 26% against the previous year. The import price peaked at $23,637 per ton in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

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 Portugal ($28,368 per ton), while the price for Poland ($2,956 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+11.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Article of Natural Cork in the UK (FOB) - 2022

In 2022, the average article of natural cork export price amounted to $39,378 per ton, picking up by 58% against the previous year. In general, the export price saw a buoyant expansion. The pace of growth was the most pronounced in 2020 when the average export price increased by 68% against the previous year. The export price peaked in 2022 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Portugal ($50,989 per ton), while the average price for exports to Gabon ($5,236 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 Ireland (+13.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Article of Natural Cork in the UK

In 2022, the amount of articles of natural cork imported into the UK soared to 1.5K tons, picking up by 20% on 2021. Over the period under review, total imports indicated a strong expansion from 2019 to 2022: its volume increased at an average annual rate of +9.7% 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 +50.4% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 25%. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, article of natural cork imports surged to $32M in 2022. In general, total imports indicated a buoyant increase from 2019 to 2022: its value increased at an average annual rate of +5.4% 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 +94.5% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Top Suppliers of Article of Natural Cork to the UK in 2022:

1. Portugal (1003.8 tons)
2. China (303.2 tons)
3. Spain (64.5 tons)
4. Thailand (46.1 tons)
5. Poland (42.4 tons)
6. Italy (29.6 tons)

Exports of Article of Natural Cork in the UK

In 2022, exports of articles of natural cork from the UK stood at 76 tons, remaining relatively unchanged against 2021 figures. In general, exports, however, showed a perceptible decline. The growth pace was the most rapid in 2021 when exports increased by 16%.

In value terms, article of natural cork exports skyrocketed to $3M in 2022. Overall, exports posted a significant increase. The pace of growth appeared the most rapid in 2021 with an increase of 93%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Top Export Markets for Article of Natural Cork from the UK in 2022:

1. Saudi Arabia (44.2 tons)
2. Portugal (5.1 tons)
3. Turkey (4.1 tons)
4. Germany (3.0 tons)
5. Ireland (3.0 tons)
6. Sweden (2.5 tons)
7. Switzerland (1.9 tons)
8. Canada (1.3 tons)
9. Gabon (1.3 tons)
10. Italy (1.1 tons)
11. France (0.7 tons)
12. Poland (0.5 tons)

Source: IndexBox Market Intelligence Platform