Uganda: Beeswax Market 2024

Beeswax Market Size in Uganda

The Ugandan beeswax market totaled $X in 2022, approximately reflecting the previous year. The market value increased at an average annual rate of +4.2% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level at $X in 2020; afterwards, it flattened through to 2022.

Beeswax Production in Uganda

In value terms, beeswax production totaled $X in 2022 estimated in export price. Over the period under review, the total production indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +7.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by +0.8% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of 73% against the previous year. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Beeswax Exports

Exports from Uganda

Beeswax exports from Uganda reduced markedly to X tons in 2022, falling by -45.1% on 2021 figures. In general, exports, however, continue to indicate a buoyant expansion. The growth pace was the most rapid in 2021 when exports increased by 2,566%. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, beeswax exports declined remarkably to $X in 2022. Overall, exports, however, continue to indicate resilient growth. The pace of growth was the most pronounced in 2021 with an increase of 1,866% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Japan (X tons) was the main destination for beeswax exports from Uganda, accounting for a 73% share of total exports. Moreover, beeswax exports to Japan exceeded the volume sent to the second major destination, Germany (X kg), fivefold.

From 2012 to 2022, the average annual growth rate of volume to Japan totaled +17.2%.

In value terms, Japan ($X) remains the key foreign market for beeswax exports from Uganda, comprising 81% of total exports. The second position in the ranking was taken by Germany ($X), with a 9.5% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Japan stood at +23.0%.

Export Prices by Country

The average beeswax export price stood at $X per ton in 2022, falling by -4.4% against the previous year. In general, export price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, beeswax export price decreased by -47.8% against 2017 indices. The pace of growth appeared the most rapid in 2013 when the average export price increased by 82% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

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 Japan ($X per ton), while the average price for exports to Germany stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+5.0%).

Beeswax Imports

Imports into Uganda

Beeswax imports into Uganda shrank rapidly to X kg in 2022, waning by -27.6% against the year before. In general, imports continue to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2018 with an increase of 126%. Over the period under review, imports reached the maximum at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, beeswax imports skyrocketed to $X in 2022. Over the period under review, imports continue to indicate a abrupt contraction. The growth pace was the most rapid in 2019 when imports increased by 17%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

China (X kg), Kenya (X kg) and the United Arab Emirates (X kg) were the main suppliers of beeswax imports to Uganda, together comprising 98% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of -3.8%), while imports for the other leaders experienced a decline.

In value terms, China ($X) constituted the largest supplier of beeswax to Uganda, comprising 43% of total imports. The second position in the ranking was held by Kenya ($X), with a 16% share of total imports. It was followed by the United Arab Emirates, with an 8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +32.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Kenya (-14.3% per year) and the United Arab Emirates (-0.9% per year).

Import Prices by Country

In 2022, the average beeswax import price amounted to $X per ton, growing by 61% against the previous year. Overall, the import price recorded a modest increase. The pace of growth was the most pronounced in 2017 when the average import price increased by 196% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Africa ($X per ton), while the price for Kenya ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+37.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform