Price for Flour and Meal; of Sago, Roots or Tubers of Heading No. 0714 in Vietnam - 2022

Contents:

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

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

In December 2022, the average export price for flour and meal; of sago, roots or tubers of heading no. 0714 amounted to $1,219 per ton, growing by 22% against the previous month. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in November 2022 when the average export price increased by 328% month-to-month. Over the period under review, the average export prices attained the maximum at $1,221 per ton in January 2022; afterwards, it flattened through to December 2022.

Prices varied noticeably by the country of destination: the country with the highest price was the United States ($1,507 per ton), while the average price for exports to Saudi Arabia ($450 per ton) was amongst the lowest.

From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+9.8%), while the prices for the other major destinations experienced more modest paces of growth.

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

The average import price for flour and meal; of sago, roots or tubers of heading no. 0714 stood at $2,601 per ton in 2022, growing by 1.7% against the previous year. Overall, the import price continues to indicate a prominent increase. The pace of growth was the most pronounced in 2015 when the average import price increased by 626% against the previous year. As a result, import price attained the peak level of $10,765 per ton. From 2016 to 2022, the average import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Russia ($2,601 per ton), while the price for China amounted to $2,601 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+16.6%).

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

In 2022, overseas shipments of flour and meal; of sago, roots or tubers of heading no. 0714 were finally on the rise to reach 10K tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, recorded a precipitous descent.

In value terms, exports of flour and meal; of sago, roots or tubers of heading no. 0714 soared to $4.2M in 2022. In general, exports, however, showed a precipitous curtailment.

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

1. South Korea (8.6K tons)
2. Taiwan (Chinese) (0.3K tons)
3. Cambodia (0.3K tons)
4. United States (0.3K tons)
5. Japan (0.3K tons)

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

In 2022, the amount of flour and meal; of sago, roots or tubers of heading no. 0714 imported into Vietnam skyrocketed to 189 tons, growing by 22% compared with the year before. The total import volume increased at an average annual rate of +12.0% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 34% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, imports of flour and meal; of sago, roots or tubers of heading no. 0714 skyrocketed to $490K in 2022. Overall, imports enjoyed a significant increase. The most prominent rate of growth was recorded in 2020 when imports increased by 72% against the previous year. Over the period under review, imports of hit record highs in 2022 and are likely to see gradual growth in the near future.

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

1. China (145.1 tons)
2. Russia (42.6 tons)

Source: IndexBox Market Intelligence Platform