Uganda: Natural Cork Stopper Market 2024

Natural Cork Stopper Market Size in Uganda

The Ugandan natural cork stopper market contracted modestly to $X in 2022, approximately mirroring the previous year. In general, consumption, however, enjoyed prominent growth. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Natural Cork Stopper Production in Uganda

In value terms, natural cork stopper production declined to $X in 2022 estimated in export price. In general, production, however, enjoyed a prominent increase. The pace of growth was the most pronounced in 2013 with an increase of 47%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Natural Cork Stopper Exports

Exports from Uganda

Natural cork stopper exports from Uganda dropped notably to X kg in 2022, declining by -33.3% against the previous year. Overall, exports showed a mild curtailment. The growth pace was the most rapid in 2018 with an increase of 367%. Over the period under review, the exports reached the peak figure at X kg in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, natural cork stopper exports declined rapidly to $X in 2022. Over the period under review, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 460%. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Burundi (X kg) was the main destination for natural cork stopper exports from Uganda, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Burundi stood at -1.9%.

In value terms, Burundi ($X) also remains the key foreign market for corks and stoppers of natural cork exports from Uganda.

From 2012 to 2022, the average annual rate of growth in terms of value to Burundi was relatively modest.

Export Prices by Country

In 2022, the average natural cork stopper export price amounted to $X per ton, remaining relatively unchanged against the previous year. In general, export price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, natural cork stopper export price decreased by -12.5% against 2019 indices. The most prominent rate of growth was recorded in 2019 when the average export price increased by 34%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the average export prices failed to regain momentum.

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

From 2012 to 2022, the rate of growth in terms of prices for Burundi amounted to +2.6% per year.

Natural Cork Stopper Imports

Imports into Uganda

In 2022, the amount of corks and stoppers of natural cork imported into Uganda rose rapidly to X kg, increasing by 8.5% on the previous year. In general, imports, however, continue to indicate a noticeable slump. The most prominent rate of growth was recorded in 2014 with an increase of 1,666%. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, natural cork stopper imports fell to $X in 2022. Overall, imports posted a mild increase. The most prominent rate of growth was recorded in 2014 when imports increased by 2,791% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

South Africa (X kg), China (X kg) and the UK (X kg) were the main suppliers of natural cork stopper imports to Uganda, together accounting for 99% 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 +24.9%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest natural cork stopper suppliers to Uganda were South Africa ($X), China ($X) and India ($X), with a combined 98% share of total imports.

Among the main suppliers, China, with a CAGR of +18.3%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average natural cork stopper import price amounted to $X per ton, declining by -15% against the previous year. In general, import price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, natural cork stopper import price increased by +26.1% against 2019 indices. The pace of growth appeared the most rapid in 2014 when the average import price increased by 64%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a lower figure.

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 ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+28.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform