Price for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in the United States - 2023
Contents:
- Price for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in the United States (FOB) - 2022
- Price for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in the United States (CIF) - 2023
- Exports of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in the United States
- Imports of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in the United States
Price for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in the United States (FOB) - 2022
In 2022, the average export price for liquid margarine and edible mixtures of animal or vegetable fats amounted to $2,318 per ton, waning by -12.7% against the previous year. 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 2019 an increase of 8% against the previous year. The export price peaked at $2,747 per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($14,569 per ton), while the average price for exports to the United Arab Emirates ($1,246 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 Ireland (+2.7%), while the prices for the other major destinations experienced a decline.
Price for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in the United States (CIF) - 2023
The average import price for liquid margarine and edible mixtures of animal or vegetable fats stood at $2,228 per ton in December 2023, remaining stable against the previous month. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in July 2023 an increase of 8.1% against the previous month. The import price peaked at $2,446 per ton in December 2022; however, from January 2023 to December 2023, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In December 2023, the country with the highest price was Malaysia ($3,476 per ton), while the price for Ecuador ($1,422 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 Colombia (+0.6%), while the prices for the other major suppliers experienced a decline.
Exports of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in the United States
In 2022, exports of liquid margarine and edible mixtures of animal or vegetable fats from the United States surged to 187K tons, increasing by 27% compared with the previous year's figure. In general, total exports indicated buoyant growth from 2019 to 2022: its volume increased at an average annual rate of +13.5% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +48.6% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, exports of liquid margarine and edible mixtures of animal or vegetable fats rose significantly to $432M in 2022. The total export value increased at an average annual rate of +8.7% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by 13%. Over the period under review, the exports of reached the maximum in 2022 and are expected to retain growth in years to come.
| Export of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 110 | 117 | 158 | 153 | 11.6% |
| Netherlands | 59.8 | 61.3 | 64.8 | 71.0 | 5.9% |
| Mexico | 20.5 | 24.2 | 31.6 | 36.5 | 21.2% |
| Ireland | 18.6 | 15.8 | 13.0 | 17.4 | -2.2% |
| Guatemala | 3.2 | 5.6 | 5.5 | 5.1 | 16.8% |
| Jamaica | 1.1 | 1.1 | 1.5 | 3.9 | 52.5% |
| Others | 123 | 120 | 114 | 146 | 5.9% |
| Total | 336 | 345 | 389 | 432 | 8.7% |
Top Export Markets for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats from the United States in 2022:
- Canada (110.4K tons)
- Mexico (19.2K tons)
- Ireland (7.0K tons)
- Netherlands (4.9K tons)
- Guatemala (3.4K tons)
- Jamaica (2.9K tons)
Imports of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in the United States
For the fourth consecutive year, the United States recorded growth in overseas purchases of liquid margarine and edible mixtures of animal or vegetable fats, which increased by 4.4% to 126K tons in 2022. The total import volume increased at an average annual rate of +4.8% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by 6.5% against the previous year. Imports peaked in 2022 and are likely to see steady growth in years to come.
In value terms, imports of liquid margarine and edible mixtures of animal or vegetable fats soared to $300M in 2022. Over the period under review, imports recorded a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 69.6 | 72.1 | 133 | 167 | 33.9% |
| Mexico | 37.8 | 36.3 | 33.6 | 58.1 | 15.4% |
| Peru | 7.0 | 6.0 | 4.5 | 12.5 | 21.3% |
| Malaysia | 2.7 | 7.3 | 3.0 | 8.5 | 46.6% |
| Spain | 10.1 | 13.2 | 11.9 | 7.8 | -8.3% |
| Guatemala | N/A | N/A | 1.9 | 7.2 | 278.9% |
| Ecuador | 1.7 | 1.7 | 3.2 | 5.2 | 45.2% |
| Colombia | 0.1 | N/A | 1.7 | 3.4 | 224.0% |
| Others | 17.0 | 32.9 | 23.5 | 30.2 | 21.1% |
| Total | 146 | 170 | 216 | 300 | 27.1% |
Top Suppliers of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats to the United States in 2022:
- Canada (77.5K tons)
- Mexico (21.6K tons)
- Guatemala (5.3K tons)
- Ecuador (2.9K tons)
- Spain (2.8K tons)
- Malaysia (2.6K tons)
- Colombia (2.2K tons)
- Peru (2.1K tons)
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