Price for Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations in Australia - 2024
Contents:
- Price for Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations in Australia (CIF) - 2024
- Price for Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations in Australia (FOB) - 2024
- Imports of Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations in Australia
- Exports of Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations in Australia
Price for Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations in Australia (CIF) - 2024
The average import price for soups and broths and preparations therefor; homogenised composite food preparationses stood at $3,420 per ton in January 2024, which is down by -3% against the previous month. Over the last twelve-month period, it increased at an average monthly rate of +2.1%. The pace of growth was the most pronounced in October 2023 when the average import price increased by 21% m-o-m. The import price peaked at $4,343 per ton in November 2023; however, from December 2023 to January 2024, import prices stood at a somewhat lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was the United States ($7,462 per ton), while the price for Taiwan (Chinese) ($1,732 per ton) was amongst the lowest.
From January 2023 to January 2024, the most notable rate of growth in terms of prices was attained by the United States (+3.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations in Australia (FOB) - 2024
The average export price for soups and broths and preparations therefor; homogenised composite food preparationses stood at $2,040 per ton in January 2024, with an increase of 10% against the previous month. In general, the export price, however, showed a perceptible decrease. The growth pace was the most rapid in September 2023 an increase of 19% m-o-m. Over the period under review, the average export prices reached the maximum at $2,950 per ton in February 2023; however, from March 2023 to January 2024, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major foreign markets. In January 2024, the country with the highest price was South Korea ($4,764 per ton), while the average price for exports to Hong Kong SAR ($1,164 per ton) was amongst the lowest.
From January 2023 to January 2024, the most notable rate of growth in terms of prices was recorded for supplies to French Polynesia (+6.8%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations in Australia
After two years of decline, purchases abroad of soups and broths and preparations therefor; homogenised composite food preparationses increased by 6.1% to 26K tons in 2022. In general, imports, however, recorded a perceptible reduction.
In value terms, imports of soups and broths and preparations therefor; homogenised composite food preparationses stood at $80M in 2022. The total import value increased at an average annual rate of +3.8% from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations in Australia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| New Zealand | 41.7 | 39.2 | 39.6 | 36.9 | -4.0% |
| Thailand | 10.4 | 9.8 | 9.8 | 12.6 | 6.6% |
| China | 4.4 | 4.6 | 5.4 | 6.6 | 14.5% |
| Japan | 3.9 | 3.7 | 4.7 | 4.6 | 5.7% |
| South Korea | 2.2 | 2.2 | 2.6 | 3.8 | 20.0% |
| United States | 3.8 | 3.8 | 2.9 | 3.3 | -4.6% |
| Croatia | 0.3 | 1.0 | 2.0 | 2.4 | 100.0% |
| Italy | 0.6 | 0.8 | 0.8 | 2.3 | 56.5% |
| Taiwan (Chinese) | 0.3 | 0.7 | 0.9 | 1.2 | 58.7% |
| Others | 3.6 | 5.4 | 5.8 | 6.0 | 18.6% |
| Total | 71.2 | 71.2 | 74.5 | 79.7 | 3.8% |
Top Suppliers of Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations to Australia in 2022:
- New Zealand (14.7K tons)
- Thailand (4.0K tons)
- Croatia (1.2K tons)
- South Korea (1.0K tons)
- Italy (0.9K tons)
- China (0.9K tons)
- Japan (0.8K tons)
- United States (0.6K tons)
- Taiwan (Chinese) (0.4K tons)
Exports of Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations in Australia
For the fourth consecutive year, Australia recorded growth in overseas shipments of soups and broths and preparations therefor; homogenised composite food preparationses, which increased by 31% to 24K tons in 2022. In general, total exports indicated a significant increase from 2019 to 2022: its volume increased at an average annual rate of +23.9% 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 +90.2% against 2019 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, exports of soups and broths and preparations therefor; homogenised composite food preparationses skyrocketed to $63M in 2022. Over the period under review, exports enjoyed significant growth. The pace of growth appeared the most rapid in 2021 with an increase of 45% against the previous year. Over the period under review, the exports of reached the peak figure in 2022 and are expected to retain growth in the immediate term.
| Export of Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations in Australia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| New Zealand | 6.7 | 7.3 | 10.3 | 17.4 | 37.5% |
| South Korea | 9.0 | 6.6 | 10.6 | 11.9 | 9.8% |
| Japan | 6.5 | 6.1 | 11.6 | 10.9 | 18.8% |
| Hong Kong SAR | 3.4 | 4.2 | 7.1 | 10.2 | 44.2% |
| Taiwan (Chinese) | 0.1 | 0.2 | 0.3 | 2.1 | 175.9% |
| Singapore | 1.2 | 1.2 | 1.8 | 1.7 | 12.3% |
| Philippines | N/A | 0.1 | 0.9 | 1.5 | 287.3% |
| China | 6.8 | 4.8 | 2.4 | 1.2 | -43.9% |
| Others | 2.1 | 2.2 | 2.3 | 5.9 | 41.1% |
| Total | 35.8 | 32.7 | 47.4 | 62.7 | 20.5% |
Top Export Markets for Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations from Australia in 2022:
- New Zealand (10.1K tons)
- Hong Kong SAR (4.0K tons)
- Japan (3.2K tons)
- South Korea (2.5K tons)
- Singapore (1.4K tons)
- Taiwan (Chinese) (1.0K tons)
- Philippines (0.6K tons)
- China (0.3K tons)
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