Price for Lac; Natural Gums, Resins, Gum-Resins and Balsams in Ghana - 2022
Contents:
- Price for Lac; Natural Gums, Resins, Gum-Resins and Balsams in Ghana (CIF) - 2022
- Price for Lac; Natural Gums, Resins, Gum-Resins and Balsams in Ghana (FOB) - 2022
- Imports of Lac; Natural Gums, Resins, Gum-Resins and Balsams in Ghana
- Exports of Lac; Natural Gums, Resins, Gum-Resins and Balsams in Ghana
Price for Lac; Natural Gums, Resins, Gum-Resins and Balsams in Ghana (CIF) - 2022
In 2022, the average import price for lac; natural gums, resins, gum-resins and balsamses amounted to $1,145 per ton, which is down by -18.8% against the previous year. Overall, the import price recorded a deep slump. The pace of growth appeared the most rapid in 2018 when the average import price decreased by -4.7% against the previous year. Over the period under review, average import prices reached the maximum at $4,353 per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($218,552 per ton), while the price for Nigeria ($383 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Burkina Faso (+65.6%), 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 Ghana (FOB) - 2022
The average export price for lac; natural gums, resins, gum-resins and balsamses stood at $1,761 per ton in 2022, picking up by 5.8% against the previous year. Over the period under review, the export price recorded a remarkable increase. The pace of growth was the most pronounced in 2017 an increase of 82% against the previous year. The export price peaked in 2022 and is expected to retain growth in the immediate term.
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 Cote d'Ivoire ($2,592 per ton), while the average price for exports to Burkina Faso ($348 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 the United Arab Emirates (+42.3%), 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 Ghana
In 2022, approx. 98 tons of lac; natural gums, resins, gum-resins and balsamses were imported into Ghana; increasing by 68% against the year before. Over the period under review, imports continue to indicate significant growth. The growth pace was the most rapid in 2020 with an increase of 84% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.
In value terms, imports of lac; natural gums, resins, gum-resins and balsamses surged to $112K in 2022. Overall, total imports indicated a prominent expansion from 2019 to 2022: its value increased at an average annual rate of +10.5% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -22.1% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 73% against the previous year. As a result, imports attained the peak of $144K. From 2021 to 2022, the growth of imports of remained at a lower figure.
| Import of Lac; Natural Gums, Resins, Gum-Resins and Balsams in Ghana (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Nigeria | 26.2 | 44.1 | 24.8 | 36.5 | 11.7% |
| Mali | 11.0 | 19.2 | 11.2 | 17.2 | 16.1% |
| Others | 46.0 | 80.7 | 46.1 | 58.5 | 8.3% |
| Total | 83.2 | 144 | 82.2 | 112 | 10.4% |
Top Suppliers of Lac; Natural Gums, Resins, Gum-Resins and Balsams to Ghana in 2022:
- Nigeria (95.3 tons)
- Mali (2.1 tons)
Exports of Lac; Natural Gums, Resins, Gum-Resins and Balsams in Ghana
For the third year in a row, Ghana recorded decline in overseas shipments of lac; natural gums, resins, gum-resins and balsamses, which decreased by -20.8% to 19 tons in 2022. Overall, exports showed a abrupt contraction. The smallest decline of -8.8% was in 2020.
In value terms, exports of lac; natural gums, resins, gum-resins and balsamses shrank markedly to $33K in 2022. In general, exports recorded a abrupt decline. The smallest decline of -2.7% was in 2020.
| Export of Lac; Natural Gums, Resins, Gum-Resins and Balsams in Ghana (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 43.6 | 42.2 | 33.4 | 29.4 | -12.3% |
| Cote d'Ivoire | 1.1 | 0.8 | 1.5 | 1.6 | 13.3% |
| Burkina Faso | 2.0 | 1.6 | 1.4 | 1.5 | -9.1% |
| Others | 0.3 | 1.2 | 3.0 | 0.6 | 26.0% |
| Total | 47.1 | 45.8 | 39.4 | 33.0 | -11.2% |
Top Export Markets for Lac; Natural Gums, Resins, Gum-Resins and Balsams from Ghana in 2022:
- India (13.8 tons)
- Burkina Faso (4.3 tons)
- Cote d'Ivoire (0.6 tons)
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