Price for Cereals; Grain Sorghum, Other than Seed in China - 2023
Contents:
- Price for Cereals; Grain Sorghum, Other than Seed in China (CIF) - 2023
- Price for Cereals; Grain Sorghum, Other than Seed in China (FOB) - 2022
- Imports of Cereals; Grain Sorghum, Other than Seed in China
- Exports of Cereals; Grain Sorghum, Other than Seed in China
Price for Cereals; Grain Sorghum, Other than Seed in China (CIF) - 2023
In September 2023, the average import price for cereals; grain sorghum, other than seeds amounted to $326 per ton, with a decrease of -7.6% against the previous month. Over the period under review, the import price saw a slight descent. The pace of growth appeared the most rapid in March 2023 when the average import price increased by 3.1% m-o-m. The import price peaked at $374 per ton in May 2023; however, from June 2023 to September 2023, import prices failed to regain momentum.
Average prices varied noticeably amongst the major supplying countries. In September 2023, the country with the highest price was Argentina ($345 per ton), while the price for the United States ($315 per ton) was amongst the lowest.
From December 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Argentina (-0.0%), while the prices for the other major suppliers experienced a decline.
Price for Cereals; Grain Sorghum, Other than Seed in China (FOB) - 2022
In 2022, the average export price for cereals; grain sorghum, other than seeds amounted to $860 per ton, with an increase of 3.8% against the previous year. In general, the export price posted strong growth. The pace of growth was the most pronounced in 2021 an increase of 86% against the previous year. The export price peaked in 2022 and is expected to retain growth in the near future.
There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($1,710 per ton), while the average price for exports to Taiwan (Chinese) ($513 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+10.8%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Cereals; Grain Sorghum, Other than Seed in China
In 2022, the amount of cereals; grain sorghum, other than seeds imported into China expanded remarkably to 10M tons, increasing by 7.7% compared with 2021. Over the period under review, imports posted a significant increase. The growth pace was the most rapid in 2020 with an increase of 479%. Imports peaked in 2022 and are likely to see steady growth in the near future.
In value terms, imports of cereals; grain sorghum, other than seeds soared to $3.7B in 2022. In general, imports posted a significant expansion. The pace of growth appeared the most rapid in 2020 when imports increased by 501% against the previous year. Over the period under review, imports of reached the peak figure in 2022 and are expected to retain growth in years to come.
| Import of Cereals; Grain Sorghum, Other than Seed in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 132 | 1,021 | 2,123 | 2,388 | 162.5% |
| Argentina | 34.2 | 103 | 575 | 691 | 172.4% |
| Australia | 24.2 | 30.2 | 331 | 662 | 201.3% |
| Others | 1.5 | 1.7 | 1.1 | 2.2 | 13.6% |
| Total | 192 | 1,156 | 3,030 | 3,743 | 169.1% |
Top Suppliers of Cereals; Grain Sorghum, Other than Seed to China in 2022:
- United States (6.3M tons)
- Argentina (2.0M tons)
- Australia (1.8M tons)
Exports of Cereals; Grain Sorghum, Other than Seed in China
Exports of cereals; grain sorghum, other than seeds from China reduced modestly to 3.6K tons in 2022, leveling off at the year before. Over the period under review, exports continue to indicate a sharp setback.
In value terms, exports of cereals; grain sorghum, other than seeds expanded to $3.1M in 2022. Overall, exports continue to indicate a sharp decrease.
| Export of Cereals; Grain Sorghum, Other than Seed in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| South Korea | 1.3 | 2.2 | 1.6 | 1.9 | 13.5% |
| Taiwan (Chinese) | 13.6 | 6.8 | 0.9 | 0.7 | -62.8% |
| Japan | N/A | 0.2 | 0.2 | 0.2 | 0.0% |
| Malaysia | N/A | N/A | N/A | 0.1 | 0% |
| Chile | N/A | N/A | 0.1 | 0.1 | 0.0% |
| Others | 0.1 | 0.2 | 0.1 | 0.1 | 0.0% |
| Total | 15.2 | 9.4 | 3.0 | 3.1 | -41.1% |
Top Export Markets for Cereals; Grain Sorghum, Other than Seed from China in 2022:
- South Korea (1862.0 tons)
- Taiwan (Chinese) (1305.1 tons)
- Japan (129.4 tons)
- Chile (100.0 tons)
- Malaysia (68.5 tons)
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