U.S. - Whey - Market Analysis, Forecast, Size, Trends and Insights
Update: COVID-19 Impact
Average U.S. Whey Price Stabilize near $1,400 per Ton
U.S. Whey Export Price per Ton July 2022
In July 2022, the whey price per ton stood at $1,368 (FOB, US), with a decrease of less than 0.1% against the previous month. Over the last six-month period, it increased at an average monthly rate of +1.2%. The most prominent rate of growth was recorded in February 2022 an increase of less than 0.1% month-to-month. Over the period under review, the average export prices attained the maximum at $1,406 per ton in June 2022, and then dropped slightly in the following month.
There were significant differences in the average prices for the major foreign markets. In July 2022, the country with the highest price was Japan ($3,032 per ton), while the average price for exports to Vietnam ($828 per ton) was amongst the lowest.
From January 2022 to July 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+11.6%), while the prices for the other major destinations experienced more modest paces of growth.
U.S. Whey Exports
In July 2022, after two months of growth, there was decline in overseas shipments of whey, when their volume decreased by less than 0.1% to 55K tons. The total export volume increased at an average monthly rate of +7.6% over the period from January 2022 to July 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in February 2022 when exports increased by 23% month-to-month. Over the period under review, the exports attained the peak figure at 57K tons in June 2022, and then shrank slightly in the following month.
In value terms, whey exports dropped to $76M (IndexBox estimates) in July 2022. Over the period under review, total exports indicated prominent growth from January 2022 to July 2022: its value increased at an average monthly rate of +8.9% over the last six-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on July 2022 figures, exports increased by +66.5% against January 2022 indices. The pace of growth was the most pronounced in February 2022 when exports increased by 28% month-to-month. Over the period under review, the exports hit record highs at $80M in June 2022, and then fell in the following month.
U.S. Whey Exports by Country
China (26K tons) was the main destination for whey exports from the United States, with a 47% share of total exports. Moreover, whey exports to China exceeded the volume sent to the second major destination, Vietnam (4.5K tons), sixfold. The third position in this ranking was held by Canada (4.4K tons), with an 8% share.
From January 2022 to July 2022, the average monthly growth rate of volume to China amounted to +11.9%. Exports to the other major destinations recorded the following average monthly rates of exports growth: Vietnam (+8.9% per month) and Canada (+0.6% per month).
In value terms, China ($27M) remains the key foreign market for whey exports from the United States, comprising 36% of total exports. The second position in the ranking was held by Mexico ($7.9M), with a 10% share of total exports. It was followed by Canada, with an 8.1% share.
From January 2022 to July 2022, the average monthly growth rate of value to China stood at +14.5%. Exports to the other major destinations recorded the following average monthly rates of exports growth: Mexico (+12.4% per month) and Canada (+2.1% per month).
This report provides an in-depth analysis of the whey 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.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Import Supplying Countries
The Largest Destinations for Exports
The Largest Producers on The Market and Their Profiles
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