Petroleum Jelly Price in India - 2023

Petroleum Jelly Price in India (FOB) - 2023

In September 2023, the average petroleum jelly export price amounted to $1,660 per ton, remaining constant against the previous month. In general, the export price recorded a slight setback. The most prominent rate of growth was recorded in July 2023 an increase of 4.2% against the previous month. Over the period under review, the average export prices reached the peak figure at $1,933 per ton in November 2022; however, from December 2022 to September 2023, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In September 2023, the country with the highest price was the Netherlands ($4,036 per ton), while the average price for exports to Cote d'Ivoire ($1,309 per ton) was amongst the lowest.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+0.4%), while the prices for the other major destinations experienced a decline.

Petroleum Jelly Price in India (CIF) - 2023

The average petroleum jelly import price stood at $2,362 per ton in September 2023, remaining constant against the previous month. Over the period under review, the import price continues to indicate a noticeable shrinkage. The pace of growth was the most pronounced in April 2023 an increase of 58% m-o-m. Over the period under review, average import prices hit record highs at $4,571 per ton in June 2023; however, from July 2023 to September 2023, import prices remained at a lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was Belgium ($12,959 per ton), while the price for the United Arab Emirates ($1,551 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 Spain (+27.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Petroleum Jelly Exports in India

In 2022, exports of petroleum jellies from India expanded markedly to 49K tons, rising by 5% on 2021. The total export volume increased at an average annual rate of +2.0% from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed 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, petroleum jelly exports skyrocketed to $91M in 2022. The total export value increased at an average annual rate of +10.9% over the period from 2019 to 2022; the trend pattern 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.

Export of Petroleum Jelly in India (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Nigeria	9.2	10.8	15.5	24.7	39.0%
Cote d'Ivoire	5.6	4.1	4.7	6.7	6.2%
United States	6.1	6.6	6.0	6.2	0.5%
United Arab Emirates	6.2	5.1	5.0	5.2	-5.7%
South Korea	2.2	1.4	3.3	2.7	7.1%
United Kingdom	1.4	1.8	1.8	2.1	14.5%
Iran	0.8	1.3	1.9	1.9	33.4%
South Africa	N/A	0.1	0.2	1.9	335.9%
Saudi Arabia	1.9	1.7	1.2	1.8	-1.8%
Australia	1.1	0.7	1.4	1.8	17.8%
Pakistan	1.2	0.4	0.1	1.7	12.3%
Egypt	1.4	1.8	2.5	1.5	2.3%
Senegal	2.3	0.4	1.2	1.1	-21.8%
Others	26.9	27.8	27.2	31.2	5.1%
Total	66.4	63.9	72.2	90.5	10.9%

Top Export Markets for Petroleum Jelly from India in 2022:

Nigeria (15.2K tons)
Cote d'Ivoire (4.4K tons)
United States (3.0K tons)
United Arab Emirates (2.7K tons)
Iran (1.3K tons)
South Africa (1.2K tons)
Egypt (1.0K tons)
Saudi Arabia (0.9K tons)
Australia (0.9K tons)
United Kingdom (0.8K tons)
Pakistan (0.8K tons)
South Korea (0.8K tons)
Senegal (0.7K tons)

Petroleum Jelly Imports in India

Petroleum jelly imports into India contracted to 988 tons in 2022, reducing by -5% against the previous year. The total import volume increased at an average annual rate of +4.9% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 48%. As a result, imports reached the peak of 1K tons, and then shrank in the following year.

In value terms, petroleum jelly imports skyrocketed to $3.6M in 2022. In general, total imports indicated a prominent expansion from 2019 to 2022: its value increased at an average annual rate of +17.3% 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 +61.4% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Import of Petroleum Jelly in India (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	723	1,474	1,290	2,126	43.3%
Germany	74.1	95.2	93.7	279	55.6%
Netherlands	4.4	61.9	382	235	276.6%
Malaysia	286	65.5	142	154	-18.6%
Spain	N/A	1.1	86.3	127	974.5%
Thailand	6.3	N/A	128	101	152.2%
Italy	111	111	36.0	99.8	-3.5%
Belgium	1.3	49.8	73.9	83.4	300.3%
United Kingdom	59.5	192	82.4	79.0	9.9%
South Africa	40.9	33.5	99.2	69.2	19.2%
South Korea	N/A	N/A	56.1	46.4	-17.3%
United Arab Emirates	711	88.7	174	14.1	-72.9%
Others	195	46.1	168	157	-7.0%
Total	2,212	2,219	2,812	3,571	17.3%