Price for Flour and Meal; of Sago, Roots or Tubers of Heading No. 0714 in the UK - 2023

Contents:

1. Price for Flour and Meal; of Sago, Roots or Tubers of Heading No. 0714 in the UK (CIF) - 2022
2. Price for Flour and Meal; of Sago, Roots or Tubers of Heading No. 0714 in the UK (FOB) - 2023
3. Imports of Flour and Meal; of Sago, Roots or Tubers of Heading No. 0714 in the UK
4. Exports of Flour and Meal; of Sago, Roots or Tubers of Heading No. 0714 in the UK

Price for Flour and Meal; of Sago, Roots or Tubers of Heading No. 0714 in the UK (CIF) - 2022

In 2022, the average import price for flour and meal; of sago, roots or tubers of heading no. 0714 amounted to $1,252 per ton, falling by -28.2% against the previous year. Overall, the import price continues to indicate a pronounced reduction. The most prominent rate of growth was recorded in 2015 an increase of 59%. As a result, import price reached the peak level of $3,071 per ton. From 2016 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Poland ($18,017 per ton), while the price for Cote d'Ivoire ($320 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+18.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Flour and Meal; of Sago, Roots or Tubers of Heading No. 0714 in the UK (FOB) - 2023

The average export price for flour and meal; of sago, roots or tubers of heading no. 0714 stood at $1,957 per ton in November 2023, dropping by -16.7% against the previous month. In general, the export price saw a noticeable decrease. The pace of growth appeared the most rapid in August 2023 an increase of 726% m-o-m. As a result, the export price attained the peak level of $22,562 per ton. From September 2023 to November 2023, the the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In November 2023, the country with the highest price was the Netherlands ($4,391 per ton), while the average price for exports to Germany ($1,505 per ton) was amongst the lowest.

From November 2022 to November 2023, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+6.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Flour and Meal; of Sago, Roots or Tubers of Heading No. 0714 in the UK

Imports of flour and meal; of sago, roots or tubers of heading no. 0714 into the UK surged to 3.5K tons in 2022, with an increase of 84% against 2021 figures. Over the period under review, imports recorded significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of flour and meal; of sago, roots or tubers of heading no. 0714 soared to $4.4M in 2022. Overall, total imports indicated a significant increase from 2019 to 2022: its value increased at an average annual rate of +23.8% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +89.9% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Top Suppliers of Flour and Meal; of Sago, Roots or Tubers of Heading No. 0714 to the UK in 2022:

1. Honduras (1213.8 tons)
2. Ghana (1069.5 tons)
3. United States (334.4 tons)
4. Cyprus (253.0 tons)
5. Cote d'Ivoire (147.5 tons)
6. Thailand (124.0 tons)
7. Peru (110.4 tons)

Exports of Flour and Meal; of Sago, Roots or Tubers of Heading No. 0714 in the UK

In 2022, shipments abroad of flour and meal; of sago, roots or tubers of heading no. 0714 decreased by -13.8% to 247 tons for the first time since 2018, thus ending a three-year rising trend. Overall, exports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 77% against the previous year.

In value terms, exports of flour and meal; of sago, roots or tubers of heading no. 0714 plummeted to $730K in 2022. Over the period under review, exports, however, enjoyed resilient growth. The most prominent rate of growth was recorded in 2020 with an increase of 93% against the previous year.

Top Export Markets for Flour and Meal; of Sago, Roots or Tubers of Heading No. 0714 from the UK in 2022:

1. Netherlands (133.0 tons)
2. Ireland (42.3 tons)
3. United States (21.4 tons)
4. Kenya (19.1 tons)
5. Italy (11.6 tons)
6. Norway (6.8 tons)
7. Germany (1.5 tons)

Source: IndexBox Market Intelligence Platform