Price for Flour and Meal; of the Dried Leguminous Vegetables of Heading No. 0713 in the United States - 2023

Contents:

1. Price for Flour and Meal; of the Dried Leguminous Vegetables of Heading No. 0713 in the United States (CIF) - 2023
2. Price for Flour and Meal; of the Dried Leguminous Vegetables of Heading No. 0713 in the United States (FOB) - 2023
3. Imports of Flour and Meal; of the Dried Leguminous Vegetables of Heading No. 0713 in the United States
4. Exports of Flour and Meal; of the Dried Leguminous Vegetables of Heading No. 0713 in the United States

Price for Flour and Meal; of the Dried Leguminous Vegetables of Heading No. 0713 in the United States (CIF) - 2023

In December 2023, the average import price for flour and meal; of the dried leguminous vegetables of heading no. 0713 amounted to $1,347 per ton, declining by -2.6% against the previous month. In general, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in October 2023 when the average import price increased by 16% m-o-m. Over the period under review, average import prices hit record highs at $1,384 per ton in November 2023, and then reduced in the following month.

There were significant differences in the average prices amongst the major supplying countries. In December 2023, the country with the highest price was Australia ($1,850 per ton), while the price for Cameroon ($443 per ton) was amongst the lowest.

From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by India (+0.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Flour and Meal; of the Dried Leguminous Vegetables of Heading No. 0713 in the United States (FOB) - 2023

In December 2023, the average export price for flour and meal; of the dried leguminous vegetables of heading no. 0713 amounted to $1,653 per ton, with an increase of 37% against the previous month. Over the period under review, export price indicated a mild increase from December 2022 to December 2023: its price increased at an average monthly rate of +1.5% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on December 2023 figures, export price for flour and meal; of the dried leguminous vegetables of heading no. 0713 increased by +78.1% against July 2023 indices. The pace of growth was the most pronounced in May 2023 an increase of 61% against the previous month. As a result, the export price attained the peak level of $1,660 per ton; afterwards, it flattened through to December 2023.

There were significant differences in the average prices for the major foreign markets. In December 2023, the country with the highest price was Australia ($5,561 per ton), while the average price for exports to China ($440 per ton) was amongst the lowest.

From December 2022 to December 2023, the most notable rate of growth in terms of prices was recorded for supplies to Australia (+3.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Flour and Meal; of the Dried Leguminous Vegetables of Heading No. 0713 in the United States

In 2022, imports of flour and meal; of the dried leguminous vegetables of heading no. 0713 into the United States soared to 38K tons, rising by 16% against 2021 figures. Over the period under review, total imports indicated a resilient expansion from 2019 to 2022: its volume increased at an average annual rate of +15.8% 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 +63.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 41% against the previous year. Over the period under review, imports of flour and meal; of dried leguminous vegetables of heading no. 0713 attained the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, imports of flour and meal; of the dried leguminous vegetables of heading no. 0713 skyrocketed to $47M in 2022. Overall, total imports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +17.6% 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 +83.6% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 46% against the previous year. Over the period under review, imports of flour and meal; of dried leguminous vegetables of heading no. 0713 reached the maximum in 2022 and are expected to retain growth in the near future.

Top Suppliers of Flour and Meal; of the Dried Leguminous Vegetables of Heading No. 0713 to the United States in 2022:

1. Canada (30.2K tons)
2. India (5.9K tons)
3. Nigeria (0.3K tons)

Exports of Flour and Meal; of the Dried Leguminous Vegetables of Heading No. 0713 in the United States

In 2022, after three years of growth, there was significant decline in overseas shipments of flour and meal; of the dried leguminous vegetables of heading no. 0713, when their volume decreased by -27.5% to 9.2K tons. Overall, total exports indicated strong growth from 2019 to 2022: its volume increased at an average annual rate of +12.6% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when exports increased by 49%.

In value terms, exports of flour and meal; of the dried leguminous vegetables of heading no. 0713 reduced dramatically to $12M in 2022. In general, exports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 90%. As a result, the exports reached the peak of $14M, and then shrank remarkably in the following year.

Top Export Markets for Flour and Meal; of the Dried Leguminous Vegetables of Heading No. 0713 from the United States in 2022:

1. Canada (4.7K tons)
2. China (1.1K tons)
3. Mexico (0.7K tons)
4. United Kingdom (0.6K tons)
5. Trinidad and Tobago (0.5K tons)
6. Japan (0.5K tons)
7. Nigeria (0.5K tons)

Source: IndexBox Market Intelligence Platform