What is the price of natural lac per kilogram/pound in Somalia today?
The retail price range for Somalia natural lac is between US$ 4.35 and US$ 6.58 per kilogram or between US$ 1.97 and US$ 2.98 per pound(lb). Click here to see today's exact prices of natural lac in Somalia
The retail price range in Somali Shilling for natural lac is between SOS 2,488.11 and SOS 3,759.82 per kilogram or between SOS 1,128.40 and SOS 1,705.13 per pound(lb) in Mogadishu and Kismayo.
Wholesale prices
In 2024, the approximate wholesale price range for Somalia natural lac is between US$ 3.05 and US$ 4.61 per kilogram or between US$ 1.38 and US$ 2.09 per pound(lb).
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Somalia Natural Lac Export Prices - Historical, Trends and Prediction
The export price of Natural Lac from Somalia has seen a steady increase over the last five years. In 2013, the price was 2.07 US$ per kg, and by 2021, it had risen to 10.19 US$ per kg. This represents an increase of almost 400%. In 2017, the price was 9.45 US$ per kg, and in 2018, it rose to 9.86 US$ per kg. In 2019, the price dropped to 7.64 US$ per kg, but it rose again in 2020 to 10.19 US$ per kg. Based on this trend, it is likely that the export price of Natural Lac from Somalia will continue to increase in the coming years. We can predict that the price in 2023 will be around 11.50 US$ per kg and in 2024, it will be around 12.90 US$ per kg.Somalia Natural Lac Import Prices - Historical, Trends and Prediction
The import price of Natural Lac into Somalia has seen a steady increase over the past five years. In 2017, the price was 9.45 US$ per kg, and in 2021, it was 10.19 US$ per kg. This represents an increase of 8.2% over the five-year period. The highest price was recorded in 2020, when it reached 10.19 US$ per kg. The lowest price was recorded in 2013, when it was 2.07 US$ per kg. Based on this trend, it is likely that the price of Natural Lac into Somalia will continue to increase in the coming years, and it is predicted that the price in 2023 will be around 11.00 US$ per kg, and in 2024, it will be around 11.80 US$ per kg.Export values for Somalia natural lac
The total values in export for natural lac in Somalia were US$ 17,480, US$ 26,961, US$ 36,864 and US$ 36,136 in US dollar thousand for the years 2016, 2017, 2018 and 2019 in that order.
Prices of other produce in the Agro Commodities category in Somalia: Eggs, Wood Ear, Jelly Fungi Tremella, Coffee Husks & Skins, Coca leaf, Poppy Straw, Ephedra, Seaweed, Sugar Beet & Sugarcane.
See prices of natural lac in other countries across Africa: Algeria natural lac, Angola natural lac, Botswana natural lac, Burundi natural lac, Cameroon natural lac, Cape Verde natural lac, Central African Republic natural lac, Comoros natural lac, DRC Congo natural lac & Benin natural lac.
Somalia natural lac - Production, Exports, Imports, Seasons and HS Codes
In 2019 Somalia sold 3,634 tonnes of natural lac. For the year 2019 alone, the market for Somalia natural lac (agro commodities category) has gone down, recording a change of -4.919 pc compared to the year 2018. Between 2017 and 2019, natural lac's exports went down by -11.08 pc netting the nation US$36.14m for the year 2019. Somalia's natural lac exports are categorised as:
- Lac; natural gums, resins, gum-resins, balsams and other natural oleoresins (excluding gum Arabic) (HS code 130190)
- Natural lac (HS code 130110)
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Somalia natural lac export values
In 2019, Somalia shipped natural lac valued at 36.14m USD, a drop of -1.96% from 2018's total natural lac export of 36.864m USD. The yearly reduction in value of Somalia natural lac between 2017 to 2018 was 36.731 per cent.
The yearly change in the amount of Somalia's natural lac exports between 2017 and 2019 was -11.08% compared to a variation of -4.919% in the period between 2018 and 2019.
Export markets for Somalia natural lac ( in '000$ )
Somalia purchased 46 tonnes of natural lac in 2019.