Price for Lac; Natural Gums, Resins, Gum-Resins and Balsams in India - 2023
Contents:
- Price for Lac; Natural Gums, Resins, Gum-Resins and Balsams in India (CIF) - 2022
- Price for Lac; Natural Gums, Resins, Gum-Resins and Balsams in India (FOB) - 2022
- Imports of Lac; Natural Gums, Resins, Gum-Resins and Balsams in India
- Exports of Lac; Natural Gums, Resins, Gum-Resins and Balsams in India
Price for Lac; Natural Gums, Resins, Gum-Resins and Balsams in India (CIF) - 2022
In 2022, the average import price for lac; natural gums, resins, gum-resins and balsamses amounted to $3,789 per ton, picking up by 40% against the previous year. Over the period under review, import price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Thailand ($5,049 per ton), while the price for Nigeria ($681 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uganda (+18.6%), 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 India (FOB) - 2022
In 2022, the average export price for lac; natural gums, resins, gum-resins and balsamses amounted to $10,074 per ton, jumping by 16% against the previous year. Over the period under review, the export price, however, recorded a perceptible curtailment. The pace of growth was the most pronounced in 2019 an increase of 34% against the previous year. The export price peaked at $14,180 per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Spain ($20,294 per ton), while the average price for exports to Nepal ($951 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 Australia (+10.8%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Lac; Natural Gums, Resins, Gum-Resins and Balsams in India
Imports of lac; natural gums, resins, gum-resins and balsamses into India fell modestly to 68K tons in 2022, approximately equating 2021 figures. The total import volume increased at an average annual rate of +5.1% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The growth pace was the most rapid in 2021 with an increase of 22%. As a result, imports reached the peak of 68K tons, leveling off in the following year.
In value terms, imports of lac; natural gums, resins, gum-resins and balsamses soared to $256M in 2022. Overall, total imports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +10.4% 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 +48.4% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Lac; Natural Gums, Resins, Gum-Resins and Balsams in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 13.6 | 16.0 | 27.6 | 29.1 | 28.9% |
| Thailand | 8.3 | 7.9 | 8.9 | 29.1 | 51.9% |
| Sudan | 9.3 | 5.0 | 8.5 | 13.0 | 11.8% |
| Mali | 8.4 | 8.8 | 10.3 | 8.2 | -0.8% |
| Senegal | 4.4 | 6.9 | 5.5 | 5.2 | 5.7% |
| Chad | 2.8 | 1.3 | 3.1 | 1.7 | -15.3% |
| Uganda | N/A | N/A | 0.2 | 1.6 | 700.0% |
| Cameroon | 1.7 | 0.6 | 1.7 | 0.4 | -38.3% |
| Others | 142 | 126 | 118 | 168 | 5.8% |
| Total | 190 | 173 | 184 | 256 | 10.4% |
Top Suppliers of Lac; Natural Gums, Resins, Gum-Resins and Balsams to India in 2022:
- Indonesia (20.4K tons)
- Sudan (16.0K tons)
- Mali (9.5K tons)
- Senegal (6.5K tons)
- Thailand (5.8K tons)
- Chad (2.4K tons)
- Uganda (1.4K tons)
- Cameroon (0.4K tons)
Exports of Lac; Natural Gums, Resins, Gum-Resins and Balsams in India
In 2022, after three years of growth, there was significant decline in overseas shipments of lac; natural gums, resins, gum-resins and balsamses, when their volume decreased by -9.8% to 13K tons. The total export volume increased at an average annual rate of +7.2% over the period 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 2021 when exports increased by 23%. As a result, the exports attained the peak of 15K tons, and then dropped in the following year.
In value terms, exports of lac; natural gums, resins, gum-resins and balsamses amounted to $133M in 2022. In general, total exports indicated prominent growth from 2019 to 2022: its value increased at an average annual rate of +16.5% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +58.3% against 2019 indices. The pace of growth was the most pronounced in 2020 when exports increased by 25%. The exports peaked in 2022 and are expected to retain growth in years to come.
| Export of Lac; Natural Gums, Resins, Gum-Resins and Balsams in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 26.8 | 31.1 | 34.8 | 40.5 | 14.8% |
| Bangladesh | 3.4 | 10.2 | 12.3 | 10.5 | 45.6% |
| Germany | 5.8 | 5.8 | 9.3 | 10.1 | 20.3% |
| China | 1.8 | 2.2 | 0.4 | 7.4 | 60.2% |
| Spain | 7.1 | 8.9 | 11.0 | 6.4 | -3.4% |
| France | 1.9 | 3.3 | 5.7 | 6.1 | 47.5% |
| Australia | 1.0 | 1.3 | 1.5 | 5.7 | 78.6% |
| Iraq | 1.9 | 3.4 | 3.2 | 4.1 | 29.2% |
| United Arab Emirates | 2.7 | 2.8 | 3.1 | 4.0 | 14.0% |
| Afghanistan | 2.3 | 2.3 | 5.3 | 2.9 | 8.0% |
| Turkey | 0.2 | 0.3 | 0.4 | 1.6 | 100.0% |
| Philippines | N/A | 0.8 | 0.5 | 1.1 | 17.3% |
| Nepal | 0.5 | 0.6 | 1.7 | 1.0 | 26.0% |
| Others | 28.5 | 31.9 | 37.3 | 31.2 | 3.1% |
| Total | 83.8 | 105 | 126 | 133 | 16.6% |
Top Export Markets for Lac; Natural Gums, Resins, Gum-Resins and Balsams from India in 2022:
- United States (2110.7 tons)
- Bangladesh (1791.5 tons)
- Nepal (1006.3 tons)
- Germany (904.1 tons)
- United Arab Emirates (804.9 tons)
- France (649.7 tons)
- Turkey (600.1 tons)
- China (511.8 tons)
- Australia (370.5 tons)
- Philippines (343.6 tons)
- Iraq (334.0 tons)
- Spain (317.7 tons)
- Afghanistan (317.0 tons)
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