Price for Lac; Natural Gums, Resins, Gum-Resins and Balsams in Pakistan - 2023
Contents:
- Price for Lac; Natural Gums, Resins, Gum-Resins and Balsams in Pakistan (CIF) - 2023
- Price for Lac; Natural Gums, Resins, Gum-Resins and Balsams in Pakistan (FOB) - 2022
- Imports of Lac; Natural Gums, Resins, Gum-Resins and Balsams in Pakistan
- Exports of Lac; Natural Gums, Resins, Gum-Resins and Balsams in Pakistan
Price for Lac; Natural Gums, Resins, Gum-Resins and Balsams in Pakistan (CIF) - 2023
In July 2023, the average import price for lac; natural gums, resins, gum-resins and balsamses amounted to $3,055 per ton, picking up by 108% against the previous month. In general, the import price saw a remarkable increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.
There were significant differences in the average prices amongst the major supplying countries. In July 2023, the country with the highest price was China ($7,459 per ton), while the price for Nigeria ($864 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 the UK (+23.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Lac; Natural Gums, Resins, Gum-Resins and Balsams in Pakistan (FOB) - 2022
In 2022, the average export price for lac; natural gums, resins, gum-resins and balsamses amounted to $937 per ton, falling by -15.7% against the previous year. Overall, the export price continues to indicate a mild setback. The most prominent rate of growth was recorded in 2019 when the average export price increased by 45% against the previous year. As a result, the export price attained the peak level of $1,761 per ton. From 2020 to 2022, the average export prices failed to regain momentum.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Morocco ($1,435 per ton), while the average price for exports to Iraq ($536 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 the United Arab Emirates (+5.7%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Lac; Natural Gums, Resins, Gum-Resins and Balsams in Pakistan
In 2022, the amount of lac; natural gums, resins, gum-resins and balsamses imported into Pakistan declined significantly to 3.9K tons, with a decrease of -15.8% compared with 2021. In general, imports, however, showed resilient growth. The most prominent rate of growth was recorded in 2021 with an increase of 182% against the previous year. As a result, imports reached the peak of 4.6K tons, and then declined significantly in the following year.
In value terms, imports of lac; natural gums, resins, gum-resins and balsamses contracted markedly to $5.9M in 2022. Over the period under review, imports showed a mild setback. The pace of growth was the most pronounced in 2021 when imports increased by 103%. As a result, imports attained the peak of $8.3M, and then dropped remarkably in the following year.
| Import of Lac; Natural Gums, Resins, Gum-Resins and Balsams in Pakistan (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| France | 1,122 | 698 | 1,394 | 2,017 | 21.6% |
| Indonesia | 997 | 781 | 2,854 | 1,705 | 19.6% |
| Nigeria | 110 | 179 | 1,071 | 422 | 56.5% |
| United States | 210 | 364 | 299 | 366 | 20.3% |
| China | 389 | 359 | 576 | 279 | -10.5% |
| Tanzania | 48.1 | 93.3 | 299 | 179 | 55.0% |
| Sri Lanka | 32.7 | 180 | 341 | 146 | 64.7% |
| Mali | 36.5 | 86.6 | 391 | 135 | 54.6% |
| Kenya | 47.7 | 85.5 | 74.5 | 102 | 28.8% |
| United Arab Emirates | 613 | 993 | 444 | 7.0 | -77.5% |
| India | 2,059 | N/A | N/A | N/A | 0% |
| Others | 566 | 282 | 576 | 587 | 1.2% |
| Total | 6,231 | 4,102 | 8,320 | 5,947 | -1.5% |
Top Suppliers of Lac; Natural Gums, Resins, Gum-Resins and Balsams to Pakistan in 2022:
- Indonesia (1593.2 tons)
- France (884.3 tons)
- Nigeria (314.1 tons)
- China (242.6 tons)
- Tanzania (168.5 tons)
- United States (126.6 tons)
- Kenya (117.4 tons)
- Mali (99.0 tons)
- Sri Lanka (97.6 tons)
- United Arab Emirates (3.3 tons)
Exports of Lac; Natural Gums, Resins, Gum-Resins and Balsams in Pakistan
After two years of decline, shipments abroad of lac; natural gums, resins, gum-resins and balsamses increased by 71% to 658 tons in 2022. In general, total exports indicated a prominent expansion from 2019 to 2022: its volume increased at an average annual rate of +12.1% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, exports of lac; natural gums, resins, gum-resins and balsamses skyrocketed to $617K in 2022. Overall, exports, however, recorded a abrupt slump.
| Export of Lac; Natural Gums, Resins, Gum-Resins and Balsams in Pakistan (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Arab Emirates | 94.0 | 191 | 132 | 253 | 39.1% |
| China | 3.3 | 45.2 | 1.3 | 57.8 | 159.7% |
| Nepal | N/A | 128 | 87.7 | 49.5 | -37.8% |
| Morocco | 10.2 | 14.4 | 30.9 | 43.4 | 62.0% |
| Algeria | 15.4 | 31.8 | 9.1 | 40.7 | 38.3% |
| Tunisia | N/A | N/A | 8.0 | 37.1 | 363.8% |
| Iraq | 0.4 | 13.2 | 30.5 | 33.1 | 335.8% |
| Germany | 93.0 | 90.6 | N/A | 16.5 | -43.8% |
| United States | 146 | 33.7 | 39.6 | 1.1 | -80.4% |
| Bangladesh | 272 | N/A | 1.3 | N/A | -93.1% |
| South Korea | 42.3 | 18.7 | N/A | N/A | -55.8% |
| India | 84.4 | N/A | N/A | N/A | 0% |
| Myanmar | N/A | N/A | 18.2 | N/A | 0% |
| Others | 61.7 | 106 | 69.0 | 84.5 | 11.1% |
| Total | 823 | 674 | 427 | 617 | -9.2% |
Top Export Markets for Lac; Natural Gums, Resins, Gum-Resins and Balsams from Pakistan in 2022:
- United Arab Emirates (280.2 tons)
- Tunisia (68.5 tons)
- Iraq (61.7 tons)
- Nepal (48.6 tons)
- China (45.9 tons)
- Algeria (43.7 tons)
- Morocco (30.3 tons)
- Germany (15.4 tons)
- United States (0.6 tons)
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