Price for Lac; Natural Gums, Resins, Gum-Resins and Balsams in Panama - 2023

Contents:

1. Price for Lac; Natural Gums, Resins, Gum-Resins and Balsams in Panama (CIF) - 2022
2. Price for Lac; Natural Gums, Resins, Gum-Resins and Balsams in Panama (FOB) - 2022
3. Imports of Lac; Natural Gums, Resins, Gum-Resins and Balsams in Panama
4. Exports of Lac; Natural Gums, Resins, Gum-Resins and Balsams in Panama

Price for Lac; Natural Gums, Resins, Gum-Resins and Balsams in Panama (CIF) - 2022

The average import price for lac; natural gums, resins, gum-resins and balsamses stood at $9,884 per ton in 2022, surging by 5% against the previous year. In general, the import price continues to indicate strong growth. The most prominent rate of growth was recorded in 2014 when the average import price increased by 167%. Over the period under review, average import prices reached the peak figure at $11,511 per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($19,512 per ton), while the price for China ($6,834 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 (+9.6%), 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 Panama (FOB) - 2022

The average export price for lac; natural gums, resins, gum-resins and balsamses stood at $28,753 per ton in 2022, reducing by -28.9% against the previous year. Overall, the export price, however, saw a significant increase. The pace of growth appeared the most rapid in 2021 an increase of 179%. As a result, the export price attained the peak level of $40,469 per ton, and then fell markedly 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 Honduras amounted to +32.4% per year.

Imports of Lac; Natural Gums, Resins, Gum-Resins and Balsams in Panama

In 2022, after two years of decline, there was significant growth in supplies from abroad of lac; natural gums, resins, gum-resins and balsamses, when their volume increased by 18% to 75 tons. Overall, imports, however, recorded a abrupt downturn.

In value terms, imports of lac; natural gums, resins, gum-resins and balsamses skyrocketed to $739K in 2022. The total import value increased at an average annual rate of +3.9% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Top Suppliers of Lac; Natural Gums, Resins, Gum-Resins and Balsams to Panama in 2022:

1. China (23.3 tons)
2. India (19.9 tons)
3. United States (10.4 tons)
4. Austria (9.6 tons)
5. Free Zones (8.7 tons)
6. Germany (1.7 tons)

Exports of Lac; Natural Gums, Resins, Gum-Resins and Balsams in Panama

In 2022, the amount of lac; natural gums, resins, gum-resins and balsamses exported from Panama soared to 2 tons, picking up by 1,502% compared with 2021 figures. Overall, exports continue to indicate significant growth.

In value terms, exports of lac; natural gums, resins, gum-resins and balsamses skyrocketed to $59K in 2022. Over the period under review, exports posted a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Top Export Markets for Lac; Natural Gums, Resins, Gum-Resins and Balsams from Panama in 2022:

1. Colombia (2.0 tons)

Source: IndexBox Market Intelligence Platform