Price for Oils, Essential; of Orange (Terpeneless or Not), Including Concretes and Absolutes in the UK - 2023

Contents:

1. Price for Oils, Essential; of Orange (Terpeneless or Not), Including Concretes and Absolutes in the UK (CIF) - 2023
2. Price for Oils, Essential; of Orange (Terpeneless or Not), Including Concretes and Absolutes in the UK (FOB) - 2022
3. Imports of Oils, Essential; of Orange (Terpeneless or Not), Including Concretes and Absolutes in the UK
4. Exports of Oils, Essential; of Orange (Terpeneless or Not), Including Concretes and Absolutes in the UK

Price for Oils, Essential; of Orange (Terpeneless or Not), Including Concretes and Absolutes in the UK (CIF) - 2023

In December 2023, the average import price for oils, essential; of orange (terpeneless or not), including concretes and absoluteses amounted to $16,886 per ton, declining by -26.4% against the previous month. Overall, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in February 2023 an increase of 129% month-to-month. The import price peaked at $41,620 per ton in June 2023; however, from July 2023 to December 2023, import prices stood at a somewhat lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was Italy ($34,714 per ton), while the price for Brazil ($14,737 per ton) was amongst the lowest.

From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by Italy (+5.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Oils, Essential; of Orange (Terpeneless or Not), Including Concretes and Absolutes in the UK (FOB) - 2022

The average export price for oils, essential; of orange (terpeneless or not), including concretes and absoluteses stood at $18,327 per ton in 2022, increasing by 24% against the previous year. Over the last decade, it increased at an average annual rate of +3.0%. The export price peaked at $20,088 per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Brazil ($51,964 per ton), while the average price for exports to Iraq ($4,296 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 China (+14.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Oils, Essential; of Orange (Terpeneless or Not), Including Concretes and Absolutes in the UK

In 2022, after three years of growth, there was significant decline in supplies from abroad of oils, essential; of orange (terpeneless or not), including concretes and absoluteses, when their volume decreased by -9.1% to 3.6K tons. The total import volume increased at an average annual rate of +7.7% 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 27%.

In value terms, imports of oils, essential; of orange (terpeneless or not), including concretes and absoluteses skyrocketed to $33M in 2022. Over the period under review, total imports indicated a buoyant expansion from 2019 to 2022: its value increased at an average annual rate of +19.5% 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 +71.1% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 48%. Over the period under review, imports of attained the maximum in 2022 and are likely to see steady growth in the immediate term.

Top Suppliers of Oils, Essential; of Orange (Terpeneless or Not), Including Concretes and Absolutes to the UK in 2022:

1. Brazil (2408.3 tons)
2. United States (242.7 tons)
3. Mexico (139.7 tons)
4. Germany (133.3 tons)
5. Italy (107.2 tons)
6. South Africa (73.8 tons)
7. Spain (71.7 tons)
8. Ireland (66.7 tons)
9. Switzerland (60.0 tons)
10. Netherlands (55.7 tons)

Exports of Oils, Essential; of Orange (Terpeneless or Not), Including Concretes and Absolutes in the UK

In 2022, exports of oils, essential; of orange (terpeneless or not), including concretes and absoluteses from the UK rose markedly to 1.4K tons, with an increase of 11% on the previous year. Overall, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by 14% against the previous year. Over the period under review, the exports of hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, exports of oils, essential; of orange (terpeneless or not), including concretes and absoluteses soared to $26M in 2022. In general, total exports indicated a prominent expansion from 2019 to 2022: its value 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 +50.6% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Top Export Markets for Oils, Essential; of Orange (Terpeneless or Not), Including Concretes and Absolutes from the UK in 2022:

1. France (293.4 tons)
2. Turkey (140.1 tons)
3. Ireland (134.7 tons)
4. Germany (126.2 tons)
5. Japan (110.3 tons)
6. Denmark (74.4 tons)
7. Singapore (67.9 tons)
8. Portugal (57.6 tons)
9. China (40.9 tons)
10. Iraq (36.6 tons)
11. United States (36.1 tons)
12. Spain (32.3 tons)
13. Brazil (23.9 tons)

Source: IndexBox Market Intelligence Platform