Price for Offal, Edible; of Bovine Animals, Tongues, Frozen in Canada - 2023

Contents:

1. Price for Offal, Edible; of Bovine Animals, Tongues, Frozen in Canada (FOB) - 2023
2. Price for Offal, Edible; of Bovine Animals, Tongues, Frozen in Canada (CIF) - 2022
3. Exports of Offal, Edible; of Bovine Animals, Tongues, Frozen in Canada
4. Imports of Offal, Edible; of Bovine Animals, Tongues, Frozen in Canada

Price for Offal, Edible; of Bovine Animals, Tongues, Frozen in Canada (FOB) - 2023

In December 2023, the average export price for offal, edible; of bovine animals, tongues, frozens amounted to $11,763 per ton, picking up by 3.9% against the previous month. Over the last twelve-month period, it increased at an average monthly rate of +2.2%. The pace of growth appeared the most rapid in August 2023 an increase of 14% month-to-month. Over the period under review, the average export prices hit record highs in December 2023.

There were significant differences in the average prices for the major external markets. In December 2023, the country with the highest price was Japan ($12,503 per ton), while the average price for exports to Mexico ($6,549 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 Mexico (+4.3%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Offal, Edible; of Bovine Animals, Tongues, Frozen in Canada (CIF) - 2022

In 2022, the average import price for offal, edible; of bovine animals, tongues, frozens amounted to $1,552 per ton, declining by -3.7% against the previous year. Over the period under review, the import price saw a noticeable setback. The pace of growth appeared the most rapid in 2021 an increase of 7%. The import price peaked at $2,017 per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Sweden ($1,552 per ton) and the United States ($1,552 per ton), while the price for the UK ($1,552 per ton) and Ireland ($1,552 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+0.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports of Offal, Edible; of Bovine Animals, Tongues, Frozen in Canada

In 2022, exports of offal, edible; of bovine animals, tongues, frozens from Canada skyrocketed to 2.6K tons, picking up by 20% on the previous year's figure. The total export volume increased at an average annual rate of +2.0% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, exports of offal, edible; of bovine animals, tongues, frozens amounted to $30M in 2022. Overall, total exports indicated a strong expansion from 2019 to 2022: its value increased at an average annual rate of +13.0% 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 +62.8% against 2020 indices. The pace of growth was the most pronounced in 2021 when exports increased by 49%. Over the period under review, the exports of attained the maximum in 2022 and are expected to retain growth in the immediate term.

Top Export Markets for Offal, Edible; of Bovine Animals, Tongues, Frozen from Canada in 2022:

1. Japan (1490.2 tons)
2. United States (868.5 tons)
3. Mexico (184.3 tons)

Imports of Offal, Edible; of Bovine Animals, Tongues, Frozen in Canada

Imports of offal, edible; of bovine animals, tongues, frozens into Canada soared to 1.1K tons in 2022, with an increase of 41% compared with 2021. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 74%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, imports of offal, edible; of bovine animals, tongues, frozens soared to $1.7M in 2022. In general, imports posted a modest increase. The most prominent rate of growth was recorded in 2021 with an increase of 86% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the near future.

Top Suppliers of Offal, Edible; of Bovine Animals, Tongues, Frozen to Canada in 2022:

1. Italy (537.5 tons)
2. United States (183.1 tons)
3. Germany (151.5 tons)
4. Netherlands (102.5 tons)
5. Sweden (78.3 tons)
6. United Kingdom (30.3 tons)
7. Denmark (29.2 tons)

Source: IndexBox Market Intelligence Platform