Spain Experiences a Surge in Sulphite Wrapping Paper Imports
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In 2023, overseas purchases of sulphite wrapping paper increased by 25% to 5.1K tons, rising for the third consecutive year after three years of decline. Over the period under review, imports, however, continue to indicate a perceptible decline.
The growth pace was the most rapid in 2022 with an increase of 61%. Imports peaked at 11K tons in 2014; however, from 2015 to 2023, imports stood at a somewhat lower figure.
In value terms, sulphite wrapping paper imports skyrocketed to $6.9M (IndexBox estimates) in 2023. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2022 with an increase of 136% against the previous year. Over the period under review, imports attained the maximum at $10M in 2014; however, from 2015 to 2023, imports stood at a somewhat lower figure.
Imports by Country
In 2023, Italy (4.5K tons) constituted the largest sulphite wrapping paper supplier to Spain, accounting for a 88% share of total imports. Moreover, sulphite wrapping paper imports from Italy exceeded the figures recorded by the second-largest supplier, France (259 tons), more than tenfold. From 2013 to 2023, the average annual growth rate of volume from Italy was relatively modest.
The remaining supplying countries recorded the following average annual rates of imports growth: France (+21.3% per year) and Germany (-22.6% per year). In value terms, Italy ($6M) constituted the largest supplier of sulphite wrapping paper to Spain, comprising 86% of total imports. The second position in the ranking was held by Germany ($494K), with a 7.1% share of total imports. From 2013 to 2023, the average annual growth rate of value from Italy amounted to +2.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-14.3% per year) and France (+13.1% per year).
Import Prices by Country
In 2023, the sulphite wrapping paper price amounted to $1,364 per ton (CIF, Spain), dropping by -5.5% against the previous year. Overall, import price indicated tangible growth from 2013 to 2023: its price increased at an average annual rate of +3.6% over the last decade.
The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, sulphite wrapping paper import price increased by +38.0% against 2021 indices. The most prominent rate of growth was recorded in 2022 an increase of 46%.
As a result, import price reached the peak level of $1,443 per ton, and then dropped in the following year. There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Germany ($2,103 per ton), while the price for France ($1,092 per ton) was amongst the lowest. From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Germany (+10.8%), while the prices for the other major suppliers experienced mixed trend patterns.
