Soap Price Slips Back to $3,693 per Ton After Peaking in May

U.S. Soap Export Price per Ton July 2022

In July 2022, the soap price per ton amounted to $3,693 (FOB, US), leveling off at the previous month. Overall, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in March 2022 an increase of 11% m-o-m. The export price peaked at $3,940 per ton in May 2022; however, from June 2022 to July 2022, the export prices failed to regain momentum.

Prices varied noticeably by the country of destination: the country with the highest price was China ($10,812 per ton), while the average price for exports to Canada ($2,982 per ton) was amongst the lowest.

From January 2022 to July 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+19.1%), while the prices for the other major destinations experienced mixed trend patterns.

U.S. Soap Export Prices by Type

Average prices varied somewhat for the major types of exported product. In July 2022, the highest price was recorded for prices to organic surface-active products for washing the skin ($4,192 per ton) and soap in different forms ($3,650 per ton), while the average price for exports of soap and organic surface-active products in bars other than for toilet use ($3,087 per ton) and soap and organic surface-active products in bars for toilet use ($3,326 per ton) were amongst the lowest.

From January 2022 to July 2022, the most notable rate of growth in terms of prices was recorded for the following types: soap in bars other than for toilet use (+3.1%), while the prices for the other products experienced more modest paces of growth.

U.S. Soap Exports

In July 2022, soap exports from the United States shrank to 25K tons, waning by -5.9% against the month before. The total export volume increased at an average monthly rate of +4.8% from January 2022 to July 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain months. The growth pace was the most rapid in February 2022 with an increase of 21% against the previous month. The exports peaked at 27K tons in April 2022; however, from May 2022 to July 2022, the exports stood at a somewhat lower figure.

In value terms, soap exports contracted to $93M (IndexBox estimates) in July 2022. The total export value increased at an average monthly rate of +4.6% from January 2022 to July 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in March 2022 with an increase of 30% month-to-month. Over the period under review, the exports reached the peak figure at $104M in May 2022; however, from June 2022 to July 2022, the exports stood at a somewhat lower figure.

U.S. Soap Exports by Type

Organic surface-active products for washing the skin (11K tons), soap and organic surface-active products in bars for toilet use (8.9K tons) and soap and organic surface-active products in bars other than for toilet use (3.1K tons) were the main products of soap exports from the United States, with a combined 89% share of total exports. These products were followed by soap in different forms, which accounted for a further 11%.

From January 2022 to July 2022, the most notable rate of growth in terms of shipments, amongst the major product types, was attained by soap in different forms (with a CAGR of +5.9%), while the other products experienced more modest paces of growth.

In value terms, organic surface-active products for washing the skin ($44M), soap and organic surface-active products in bars for toilet use ($30M) and soap in different forms ($10M) constituted the most exported types of soap from the United States worldwide, with a combined 90% share of total exports. Soap and organic surface-active products in bars other than for toilet use lagged somewhat behind, comprising a further 10%.

In terms of the main product categories, soap in bars for toilet use, with a CAGR of +8.2%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other products experienced more modest paces of growth.

U.S. Soap Exports by Country

Canada (17K tons) was the main destination for soap exports from the United States, accounting for a 66% share of total exports. Moreover, soap exports to Canada exceeded the volume sent to the second major destination, Mexico (1.7K tons), tenfold. The third position in this ranking was taken by the Philippines (460 tons), with less than 0.1% share.

From January 2022 to July 2022, the average monthly growth rate of volume to Canada amounted to +5.4%. Exports to the other major destinations recorded the following average monthly rates of exports growth: Mexico (+5.6% per month) and the Philippines (+18.1% per month).

In value terms, Canada ($50M) remains the key foreign market for soap exports from the United States, comprising 53% of total exports. The second position in the ranking was taken by Mexico ($6.6M), with a 7.1% share of total exports. It was followed by China, with less than 0.1% share.

From January 2022 to July 2022, the average monthly rate of growth in terms of value to Canada stood at +7.0%. Exports to the other major destinations recorded the following average monthly rates of exports growth: Mexico (-0.4% per month) and China (+26.4% per month).

Source: IndexBox Market Intelligence Platform