U.S. - Cereals - Market Analysis, Forecast, Size, Trends and Insights
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View PricingUSA's Cereal Exports Increase Slightly to Reach $2B in Feb. 2023
U.S. Cereal Exports
In February 2023, shipments abroad of cereals increased by 8.3% to 5.6M tons, rising for the fourth month in a row after seven months of decline. Over the period under review, exports, however, showed a perceptible curtailment. The growth pace was the most rapid in December 2022 with an increase of 25% m-o-m.
In value terms, cereal exports totaled $2B (IndexBox estimates) in February 2023. Overall, exports, however, continue to indicate a perceptible decrease. The most prominent rate of growth was recorded in December 2022 when exports increased by 24% month-to-month.
| COUNTRY | Feb 2022 | Mar 2022 | Apr 2022 | May 2022 | Jun 2022 | Jul 2022 | Aug 2022 | Sep 2022 | Oct 2022 | Nov 2022 | Dec 2022 | Jan 2023 | Feb 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Export Value of Cereal in U.S. (million USD) | |||||||||||||
| Mexico | 563 | 592 | 606 | 646 | 666 | 692 | 607 | 513 | 394 | 449 | 591 | 637 | 727 |
| Japan | 540 | 439 | 404 | 433 | 569 | 281 | 281 | 169 | 150 | 116 | 160 | 227 | 195 |
| Colombia | 178 | 202 | 214 | 218 | 100 | 47.4 | 34.0 | 38.4 | 31.7 | 21.0 | 38.4 | 25.9 | 154 |
| China | 753 | 1,041 | 756 | 958 | 648 | 658 | 478 | 461 | 301 | 363 | 542 | 310 | 103 |
| Canada | 204 | 220 | 172 | 196 | 149 | 124 | 96.8 | 39.9 | 34.4 | 56.7 | 61.8 | 80.6 | 96.7 |
| South Korea | 49.7 | 113 | 163 | 238 | 79.3 | 84.9 | 77.4 | 45.9 | 51.7 | 23.2 | 45.2 | 55.4 | 81.9 |
| Taiwan (Chinese) | 90.8 | 28.2 | 77.1 | 115 | 76.6 | 44.2 | 27.8 | 29.3 | 45.5 | 59.5 | 24.2 | 36.0 | 71.6 |
| Philippines | 64.6 | 119 | 76.8 | 52.8 | 113 | 62.4 | 84.9 | 136 | 29.6 | 95.4 | 13.4 | 70.8 | 67.7 |
| Guatemala | 55.2 | 87.3 | 37.5 | 51.0 | 36.9 | 52.4 | 25.5 | 11.1 | 0.1 | 5.2 | 21.0 | 48.2 | 53.7 |
| Iraq | N/A | 0.1 | N/A | N/A | N/A | N/A | N/A | N/A | 35.1 | N/A | 15.8 | 43.9 | 42.5 |
| Honduras | 51.3 | 62.2 | 34.4 | 44.2 | 50.9 | 23.2 | 18.5 | 42.6 | 29.1 | 18.8 | 68.3 | 19.6 | 36.4 |
| Others | 441 | 603 | 844 | 520 | 410 | 337 | 556 | 602 | 293 | 288 | 266 | 356 | 347 |
| Total | 2,990 | 3,506 | 3,385 | 3,472 | 2,899 | 2,405 | 2,287 | 2,088 | 1,395 | 1,496 | 1,847 | 1,910 | 1,978 |
Exports by Country
Mexico (2.1M tons) was the main destination for cereal exports from the United States, with a 38% share of total exports. Moreover, cereal exports to Mexico exceeded the volume sent to the second major destination, Japan (549K tons), fourfold. The third position in this ranking was held by Colombia (458K tons), with an 8.2% share.
From February 2022 to February 2023, the average monthly growth rate of volume to Mexico totaled +1.2%. Exports to the other major destinations recorded the following average monthly rates of exports growth: Japan (-8.5% per month) and Colombia (-2.4% per month).
In value terms, Mexico ($727M) remains the key foreign market for cereal exports from the United States, comprising 37% of total exports. The second position in the ranking was taken by Japan ($195M), with a 9.9% share of total exports. It was followed by Colombia, with a 7.8% share.
From February 2022 to February 2023, the average monthly growth rate of value to Mexico stood at +2.2%. Exports to the other major destinations recorded the following average monthly rates of exports growth: Japan (-8.1% per month) and Colombia (-1.2% per month).
Exports by Type
Maize (3.3M tons), wheat (1.9M tons) and sorghum (219K tons) were the main products of cereal exports from the United States, with a combined 97% share of total exports. Paddy rice, barley, buckwheat, oats, millet, other cereals, canary seed and quinoa lagged somewhat behind, together comprising a further 3.3%.
From February 2022 to February 2023, the most notable rate of growth in terms of shipments, amongst the major product types, was attained by barley (with a CAGR of +7.9%), while the other products experienced more modest paces of growth.
In value terms, the most traded types of cereals in the United States were maize ($1.1B), wheat ($700M) and sorghum ($83M), with a combined 96% share of total exports. Paddy rice, other cereals, buckwheat, millet, barley, oats, quinoa and canary seed lagged somewhat behind, together accounting for a further 4%.
Barley, with a CAGR of +9.9%, recorded the highest growth rate of the value of exports, among the main product categories over the period under review, while shipments for the other products experienced more modest paces of growth.
Export Prices by Country
In February 2023, the cereal price amounted to $354 per ton (FOB, US), waning by -4.4% against the previous month. Over the period from February 2022 to February 2023, it increased at an average monthly rate of +1.0%. The pace of growth appeared the most rapid in April 2022 an increase of 6.4% month-to-month. The export price peaked at $378 per ton in October 2022; however, from November 2022 to February 2023, the export prices failed to regain momentum.
Average prices varied somewhat for the major overseas markets. In February 2023, the highest price was recorded for prices to Canada ($471 per ton) and Iraq ($415 per ton), while the average price for exports to Guatemala ($323 per ton) and China ($330 per ton) were amongst the lowest.
From February 2022 to February 2023, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+6.7%), while the prices for the other major destinations experienced more modest paces of growth.
This report provides an in-depth analysis of the cereal market in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 108 - Cereals, nes
- FCL 103 - Mixed grain
- FCL 92 - Quinoa
- FCL 15 - Wheat
- FCL 71 - Rye
- FCL 44 - Barley
- FCL 75 - Oats
- FCL 56 - Maize
- FCL 27 - Rice, paddy
- FCL 83 - Sorghum
- FCL 89 - Buckwheat
- FCL 101 - Canary seed
- FCL 94 - Fonio
- FCL 97 - Triticale
- FCL 79 - Millet
Country coverage:
- United States
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the U.S.
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- COUNTRIES WITH TOP YIELDS
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Yield And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Area Harvested, 2012–2023
- Yield, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
