Petroleum Jelly Price in Venezuela - 2022

Petroleum Jelly Price in Venezuela (CIF) - 2022

In 2022, the average petroleum jelly import price amounted to $1,819 per ton, remaining constant against the previous year. Over the period under review, the import price saw a pronounced decline. The pace of growth was the most pronounced in 2016 an increase of 14%. The import price peaked at $2,388 per ton in 2012; however, from 2013 to 2022, 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 United States ($6,799 per ton), while the price for Brazil ($238 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+15.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Petroleum Jelly Price in Venezuela (FOB) - 2022

In 2022, the average petroleum jelly export price amounted to $2,832 per ton, declining by -3.4% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the average export price increased by 65% against the previous year. The export price peaked at $2,932 per ton in 2021, and then fell slightly in the following year.

As there is only one major export destination, the average price level is determined by prices for Colombia.

From 2012 to 2022, the rate of growth in terms of prices for Colombia amounted to +0.4% per year.

Petroleum Jelly Imports in Venezuela

In 2022, approx. 97 tons of petroleum jellies were imported into Venezuela; reducing by -13.9% on 2021 figures. Over the period under review, imports saw a perceptible decrease. The pace of growth appeared the most rapid in 2021 with an increase of 38% against the previous year. As a result, imports attained the peak of 112 tons, and then dropped in the following year.

In value terms, petroleum jelly imports reduced to $176K in 2022. Overall, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 42% against the previous year. As a result, imports attained the peak of $207K, and then shrank in the following year.

Import of Petroleum Jelly in Venezuela (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
India	28.2	49.1	92.6	134	68.1%
Germany	98.6	28.2	68.6	17.9	-43.4%
Turkey	12.1	8.2	5.7	5.0	-25.5%
Brazil	8.5	6.3	5.3	3.8	-23.5%
United States	11.4	17.4	10.5	3.1	-35.2%
Panama	1.5	3.4	3.4	2.9	24.6%
Peru	N/A	20.5	9.6	N/A	-53.2%
Others	17.7	12.6	11.0	9.7	-18.2%
Total	178	146	207	176	-0.4%

Top Suppliers of Petroleum Jelly to Venezuela in 2022:

India (58.3 tons)
Brazil (15.9 tons)
Germany (13.5 tons)
Turkey (4.5 tons)
Panama (2.1 tons)
United States (0.5 tons)

Petroleum Jelly Exports in Venezuela

After two years of decline, shipments abroad of petroleum jellies increased by 2.7% to 16 tons in 2022. Overall, exports, however, continue to indicate a noticeable decrease.

In value terms, petroleum jelly exports dropped slightly to $45K in 2022. In general, exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by 1.6% against the previous year. As a result, the exports reached the peak of $46K, leveling off in the following year.