Petroleum Jelly Price in Thailand - 2023

Contents:

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

Petroleum Jelly Price in Thailand (CIF) - 2023

In September 2023, the average petroleum jelly import price amounted to $2,112 per ton, surging by 36% against the previous month. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in May 2023 an increase of 51% m-o-m. The import price peaked at $2,806 per ton in October 2022; however, from November 2022 to September 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In September 2023, the country with the highest price was the United States ($3,039 per ton), while the price for India ($1,608 per ton) was amongst the lowest.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by the Netherlands (+24.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Petroleum Jelly Price in Thailand (FOB) - 2022

The average petroleum jelly export price stood at $6,230 per ton in 2022, jumping by 46% against the previous year. Overall, the export price recorded prominent growth. The most prominent rate of growth was recorded in 2020 an increase of 89% against the previous year. The export price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($9,953 per ton), while the average price for exports to Vietnam ($1,584 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 Iran (+58.0%), while the prices for the other major destinations experienced more modest paces of growth.

Petroleum Jelly Imports in Thailand

Petroleum jelly imports into Thailand declined to 2.4K tons in 2022, waning by -11.5% against the year before. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 20% against the previous year. As a result, imports reached the peak of 2.8K tons, and then dropped in the following year.

In value terms, petroleum jelly imports skyrocketed to $5.3M in 2022. The total import value increased at an average annual rate of +9.3% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 25%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

Top Suppliers of Petroleum Jelly to Thailand in 2022:

1. India (604.0 tons)
2. Germany (511.6 tons)
3. United Arab Emirates (476.0 tons)
4. United States (314.5 tons)
5. Netherlands (222.2 tons)
6. Iran (126.0 tons)
7. Oman (84.0 tons)
8. Malaysia (12.7 tons)

Petroleum Jelly Exports in Thailand

In 2022, overseas shipments of petroleum jellies were finally on the rise to reach 51 tons for the first time since 2019, thus ending a two-year declining trend. In general, exports, however, recorded a abrupt downturn.

In value terms, petroleum jelly exports soared to $318K in 2022. Over the period under review, exports continue to indicate buoyant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Top Export Markets for Petroleum Jelly from Thailand in 2022:

1. Lao People's Democratic Republic (22.2 tons)
2. Vietnam (17.2 tons)
3. Philippines (4.4 tons)
4. Myanmar (2.5 tons)
5. Malaysia (2.0 tons)
6. Hong Kong SAR (1.4 tons)
7. Indonesia (0.8 tons)

Source: IndexBox Market Intelligence Platform