Price for Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations in Mexico - 2023
Contents:
- Price for Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations in Mexico (CIF) - 2023
- Price for Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations in Mexico (FOB) - 2022
- Imports of Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations in Mexico
- Exports of Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations in Mexico
Price for Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations in Mexico (CIF) - 2023
In December 2023, the average import price for soups and broths and preparations therefor; homogenised composite food preparationses amounted to $5,058 per ton, flattening at the previous month. Overall, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in July 2023 an increase of 3.6% month-to-month. As a result, import price attained the peak level of $5,150 per ton. From August 2023 to December 2023, the average import prices remained at a lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was South Korea ($5,945 per ton), while the price for Guatemala ($3,233 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 Guatemala (+0.7%), 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 Mexico (FOB) - 2022
In 2022, the average export price for soups and broths and preparations therefor; homogenised composite food preparationses amounted to $3,564 per ton, surging by 4.7% against the previous year. Over the last decade, it increased at an average annual rate of +2.0%. The pace of growth was the most pronounced in 2017 when the average export price increased by 15% against the previous year. As a result, the export price attained the peak level of $3,763 per ton. From 2018 to 2022, the average export prices failed to regain momentum.
Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Panama ($4,225 per ton) and Honduras ($4,099 per ton), while the average price for exports to the United States ($3,533 per ton) and Canada ($3,573 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Honduras (+4.8%), 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 Mexico
For the fourth year in a row, Mexico recorded growth in overseas purchases of soups and broths and preparations therefor; homogenised composite food preparationses, which increased by 25% to 116K tons in 2022. In general, total imports indicated prominent growth from 2019 to 2022: its volume increased at an average annual rate of +14.3% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +49.4% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, imports of soups and broths and preparations therefor; homogenised composite food preparationses surged to $364M in 2022. Over the period under review, total imports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +13.2% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +45.0% against 2019 indices. 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 Mexico (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 237 | 239 | 277 | 353 | 14.2% |
| South Korea | 2.3 | 2.7 | 4.6 | 8.3 | 53.4% |
| Guatemala | 9.7 | 11.0 | 9.6 | 0.3 | -68.6% |
| Others | 2.3 | 2.6 | 2.1 | 2.1 | -3.0% |
| Total | 251 | 256 | 294 | 364 | 13.2% |
Top Suppliers of Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations to Mexico in 2022:
- United States (112.7K tons)
- South Korea (2.2K tons)
- Guatemala (0.1K tons)
Exports of Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations in Mexico
In 2022, approx. 26K tons of soups and broths and preparations therefor; homogenised composite food preparationses were exported from Mexico; rising by 23% on the year before. Over the period under review, total exports indicated prominent growth from 2019 to 2022: its volume increased at an average annual rate of +12.8% 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 +43.7% against 2019 indices. As a result, the exports attained 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 $91M in 2022. Overall, total exports indicated a significant expansion from 2019 to 2022: its value increased at an average annual rate of +21.2% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +78.1% against 2019 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations in Mexico (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 38.0 | 42.4 | 65.8 | 82.0 | 29.2% |
| Guatemala | 8.6 | 10.4 | 2.2 | 4.3 | -20.6% |
| Canada | N/A | N/A | 0.4 | 2.1 | 425.0% |
| Honduras | 1.7 | 2.0 | 1.2 | 1.8 | 1.9% |
| Panama | 1.8 | 2.6 | 0.7 | 0.6 | -30.7% |
| Others | 0.9 | 1.3 | 0.5 | 0.2 | -39.4% |
| Total | 51.1 | 58.8 | 70.8 | 91.0 | 21.2% |
Top Export Markets for Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations from Mexico in 2022:
- United States (23.2K tons)
- Guatemala (1.1K tons)
- Canada (0.6K tons)
- Honduras (0.4K tons)
- Panama (0.1K tons)
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