Waxes; Artificial, Prepared Price in Morocco - 2022

Waxes; Artificial, Prepared Price in Morocco (CIF) - 2022

In December 2022, the average waxes; artificial, prepared import price amounted to $3,789 per ton, declining by -7.7% against the previous month. Overall, the import price continues to indicate a slight descent. The most prominent rate of growth was recorded in May 2022 when the average import price increased by 94% m-o-m. As a result, import price reached the peak level of $4,815 per ton. From June 2022 to December 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In December 2022, the country with the highest price was Italy ($7,512 per ton), while the price for Spain ($2,795 per ton) was amongst the lowest.

From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by Italy (+3.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Waxes; Artificial, Prepared Price in Morocco (FOB) - 2022

In 2022, the average waxes; artificial, prepared export price amounted to $2,244 per ton, rising by 2.5% against the previous year. Over the period under review, the export price, however, showed a perceptible slump. The pace of growth was the most pronounced in 2015 when the average export price increased by 58%. As a result, the export price attained the peak level of $6,997 per ton. From 2016 to 2022, the average export prices remained at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Senegal.

From 2012 to 2022, the rate of growth in terms of prices for France amounted to +20.1% per year.

Waxes; Artificial, Prepared Imports in Morocco

Waxes; artificial, prepared imports into Morocco reduced slightly to 1.5K tons in 2022, approximately mirroring the previous year's figure. In general, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 16% against the previous year. As a result, imports reached the peak of 1.6K tons, and then dropped slightly in the following year.

In value terms, waxes; artificial, prepared imports expanded notably to $5M in 2022. The total import value increased at an average annual rate of +7.4% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 34%. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in the immediate term.

Import of Waxes; Artificial, Prepared in Morocco (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Germany	984	1,156	1,409	1,538	16.1%
Spain	1,135	664	941	1,028	-3.2%
Netherlands	427	327	548	598	11.9%
Denmark	285	187	399	436	15.2%
Italy	311	115	208	227	-10.0%
United States	191	244	200	227	5.9%
China	110	81.8	116	127	4.9%
Turkey	30.9	38.1	105	115	55.0%
Others	532	572	617	668	7.9%
Total	4,007	3,385	4,543	4,964	7.4%

Top Suppliers of Waxes; Artificial, Prepared to Morocco in 2022:

Spain (496.6 tons)
Germany (380.9 tons)
Netherlands (163.8 tons)
Denmark (140.2 tons)
United States (82.4 tons)
Turkey (47.2 tons)
China (44.1 tons)
Italy (36.2 tons)

Waxes; Artificial, Prepared Exports in Morocco

In 2022, the amount of waxes; artificial, prepared exported from Morocco surged to 19 tons, increasing by 73% compared with 2021. Over the period under review, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 767% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.

In value terms, waxes; artificial, prepared exports soared to $42K in 2022. In general, exports enjoyed a significant expansion. The growth pace was the most rapid in 2020 with an increase of 499% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.