Petroleum Jelly Price in Indonesia - 2022

Petroleum Jelly Price in Indonesia (CIF) - 2022

In March 2022, the average petroleum jelly import price amounted to $1,802 per ton, which is down by -4.4% against the previous month. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in May 2021 when the average import price increased by 22% m-o-m. Over the period under review, average import prices hit record highs at $2,248 per ton in September 2021; however, from October 2021 to March 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was South Korea ($2,148 per ton), while the price for the United Arab Emirates ($1,405 per ton) was amongst the lowest.

From March 2021 to March 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+3.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Petroleum Jelly Price in Indonesia (FOB) - 2022

In 2022, the average petroleum jelly export price amounted to $1,460 per ton, shrinking by -16.2% against the previous year. In general, the export price saw a pronounced decrease. The pace of growth appeared the most rapid in 2021 when the average export price increased by 39% against the previous year. The export price peaked at $1,841 per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Australia ($1,602 per ton), while the average price for exports to the Philippines amounted to $1,178 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+15.4%), while the prices for the other major destinations experienced a decline.

Petroleum Jelly Imports in Indonesia

In 2022, imports of petroleum jellies into Indonesia soared to 3.7K tons, with an increase of 24% compared with the previous year. The total import volume increased at an average annual rate of +1.9% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, petroleum jelly imports soared to $7.7M in 2022. In general, total imports indicated a prominent expansion from 2019 to 2022: its value increased at an average annual rate of +11.3% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +85.9% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Import of Petroleum Jelly in Indonesia (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Germany	1,700	1,662	1,283	2,132	7.8%
South Korea	934	705	920	1,247	10.1%
India	749	400	760	1,030	11.2%
China	453	405	522	707	16.0%
Hungary	369	250	387	524	12.4%
Netherlands	311	191	359	487	16.1%
Malaysia	223	148	326	441	25.5%
Iran	521	135	149	373	-10.5%
Others	324	247	570	763	33.0%
Total	5,583	4,144	5,277	7,705	11.3%

Top Suppliers of Petroleum Jelly to Indonesia in 2022:

Germany (1053.9 tons)
South Korea (573.1 tons)
India (488.8 tons)
China (386.3 tons)
Iran (303.3 tons)
Hungary (229.5 tons)
Malaysia (215.8 tons)
Netherlands (188.5 tons)

Petroleum Jelly Exports in Indonesia

After two years of decline, shipments abroad of petroleum jellies increased by 19% to 261 tons in 2022. Over the period under review, exports, however, saw a abrupt decline.

In value terms, petroleum jelly exports shrank slightly to $381K in 2022. Overall, exports, however, showed a perceptible curtailment. The most prominent rate of growth was recorded in 2021 with an increase of 0.6% against the previous year.