Prices for aluminum this year will remain low thanks to the consistent growth in global production of the metal overcoming obstacles caused by the pandemic. In the mid-term, demand for aluminum in the construction sector and car manufacturing is forecast to steadily rise. The rapid development of alternative energy sources will also drive the market up because aluminum is used in the production of solar batteries, wind generators and other components of energy facilities. In China, the launch of quotas on greenhouse gas emissions could lead to higher prices for aluminum as production for the metal in the country leaves a heavy carbon footprint.
In 2020, despite the declining volume of prepared or preserved olives supplies in the EU, the total export value stood at the previous year’s level of near $1.5B. The fall in supplies from Spain and Portugal was partially offset by a surge in Greece's exports, which became feasible thanks to a drop in prices. The average export price in the EU grew by +4.4% y-o-y in 2020, shaped by increases in Spain, Italy and Portugal.
Apricot exports from Spain increased to $170M thanks to rising demand from Italy and France, despite rising export prices. Export to other major destinations - Germany and the UK - failed to catch up with the figures of the previous year. Germany, France and Italy remain the major importers of Spanish apricots in 2020.
In 2020, American papaya imports reached $134M, the highest point over the last decade. Both in volume and value terms, imports grow for the second year in a row despite the pandemic. Mexico and Guatemala rule the American import market, comprising 98% of the total volume of shipments to the U.S. In 2020, the average papaya import price in the U.S. rose by +2% compared to the previous year's figures.
American OSB imports shot up due to the construction boom that has been seen in the country. The unprecedented demand for wood products leads to record hikes in prices that are relevant not only for OSB but the entire wood industry. Canada is the only major supplier of OSB to the U.S., holding approx. 30% share in the market. Canadian producers thus thrive from the American construction boom.
Lamb and sheep meat exports in Asia-Pacific dropped -6.5% to 853K tonnes in 2020. This was shaped by a tangible contraction in Australian supplies, which was partially offset by rising shipments from New Zealand. Australian lamb exports were hampered by lower demand in China and other destinations affected by the pandemic. China, the U.S. and Malaysia remain key foreign markets for Australian lamb exporters. Suppliers from New Zealand also focus on the Chinese and American markets, with the UK being among the top three destinations.
This year global butter production is anticipated to keep up with ha last year, amounting to 5.6M tonnes. The EU is forecast to decrease butter exports due to a slight drop in production amid an increase in demand. Butter exports from New Zealand are not forecast to grow due to increased competition with UHT cream for food service being increasingly in demand.
Turkey meat exports in the EU decreased slightly over the last year, amounting to 594K tonnes or $1.5B. Poland remains the top turkey meat exporter in the EU, comprising near 36% of the total figure. The country was the only supplier that coped to keep exports growing in 2020 despite the pace of growth lost momentum from robust gains seen over the previous two years. Germany, Spain and the Czech Republic constituted major foreign markets for exporters from Poland.
Fig production in Turkey continues to increase robustly, enjoying strong foreign and domestic demand. In 2020, fig exports from Turkey also hit record highs of near 89K tonnes, picking up by 5% against the previous year. The country continues to dominate fig supplies worldwide, with a share of over 50% in terms of global exports. Europe, North America and China constitute major external markets for Turkish figs. Given the increased production, the average fig export price in Turkey declined slightly to $3,280 per tonne in 2020.