Pasta Product Exports in China Drops to 39.7K Tons in September 2022

China Pasta Products Exports

In September 2022, approximately 40K tons of dried, undried and frozen pasta and pasta products were exported from China; waning by -7.6% against the month before. Overall, exports continue to indicate a pronounced slump. The growth pace was the most rapid in March 2022 with an increase of 52% month-to-month. Over the period under review, the exports hit record highs at 47K tons in January 2022; however, from February 2022 to September 2022, the exports stood at a somewhat lower figure.

In value terms, pasta products exports contracted to $68M (IndexBox estimates) in September 2022. In general, exports saw a slight curtailment. The most prominent rate of growth was recorded in March 2022 with an increase of 47% m-o-m. Over the period under review, the exports reached the peak figure at 81K tons in July 2022; however, from August 2022 to September 2022, the exports remained at a lower figure.

Exports by Country

South Korea (6.3K tons), Hong Kong SAR (6.1K tons) and the United States (4.1K tons) were the main destinations of pasta products exports from China, with a combined 42% share of total exports. These countries were followed by Canada, Russia, the Netherlands, Australia, the UK, Malaysia, Japan, the Philippines, Indonesia and Germany, which together accounted for a further 38%.

From January 2022 to September 2022, the biggest increases were in Russia (with a CAGR of +1.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for pasta products exported from China were the United States ($9.2M), Hong Kong SAR ($9.2M) and South Korea ($8.8M), together comprising 40% of total exports. Canada, Japan, Russia, the Netherlands, Malaysia, Australia, the UK, the Philippines, Indonesia and Germany lagged somewhat behind, together comprising a further 39%.

In terms of the main countries of destination, Russia, with a CAGR of +1.6%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In September 2022, the pasta products price amounted to $1,721 per ton (FOB, China), shrinking by -1.5% against the previous month. In general, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in May 2022 an increase of 6% m-o-m. The export price peaked at $1,773 per ton in June 2022; however, from July 2022 to September 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In September 2022, the country with the highest price was Japan ($2,852 per ton), while the average price for exports to South Korea ($1,397 per ton) was amongst the lowest.

From January 2022 to September 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+2.4%), while the prices for the other major destinations experienced more modest paces of growth.

Factors Affecting Pasta Products Prices

The average price of pasta products in China has been on the rise in recent years, due to a number of factors. The cost of wheat, a key ingredient in pasta, has been increasing due to bad weather conditions in major wheat-producing regions. This has led to higher prices for pasta makers, who have passed on the cost increases to consumers. In addition, labor costs in China have been rising as workers demand higher wages. This has also contributed to higher pasta prices.

Despite the rising costs, the demand for pasta remains strong in China. Pasta is a popular food choice among Chinese consumers, especially those living in urban areas. It is seen as a healthy and affordable option and is often used as a quick meal or snack.

Source: IndexBox Market Intelligence Platform