Price for Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations in the United States - 2023
Contents:
- Price for Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations in the United States (FOB) - 2023
- Price for Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations in the United States (CIF) - 2023
- Exports of Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations in the United States
- Imports of Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations in the United States
Price for Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations in the United States (FOB) - 2023
In December 2023, the average export price for soups and broths and preparations therefor; homogenised composite food preparationses amounted to $2,840 per ton, reducing by -3.1% against the previous month. In general, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in November 2023 when the average export price increased by 9.7% against the previous month. Over the period under review, the average export prices hit record highs at $3,064 per ton in August 2023; however, from September 2023 to December 2023, the export prices stood at a somewhat lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was Mexico ($3,680 per ton), while the average price for exports to Canada ($2,069 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 Canada (+0.3%), while the prices for the other major destinations experienced mixed trend patterns.
Price for Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations in the United States (CIF) - 2023
In December 2023, the average import price for soups and broths and preparations therefor; homogenised composite food preparationses amounted to $2,135 per ton, surging by 13% against the previous month. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in January 2023 an increase of 22% month-to-month. As a result, import price reached the peak level of $2,471 per ton. From February 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 Vietnam ($4,708 per ton), while the price for Canada ($1,302 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 Vietnam (+0.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations in the United States
In 2022, exports of soups and broths and preparations therefor; homogenised composite food preparationses from the United States rose remarkably to 288K tons, surging by 6.7% against 2021 figures. The total export volume increased at an average annual rate of +2.6% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 18% against the previous year. As a result, the exports reached the peak of 316K tons. From 2021 to 2022, the growth of the exports of remained at a lower figure.
In value terms, exports of soups and broths and preparations therefor; homogenised composite food preparationses surged to $728M in 2022. The total export value increased at an average annual rate of +8.0% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. 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 the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Mexico | 238 | 240 | 279 | 355 | 14.3% |
| Canada | 246 | 307 | 253 | 276 | 3.9% |
| Others | 94.0 | 90.3 | 90.3 | 96.9 | 1.0% |
| Total | 578 | 637 | 622 | 728 | 8.0% |
Top Export Markets for Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations from the United States in 2022:
- Canada (146.3K tons)
- Mexico (103.7K tons)
Imports of Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations in the United States
For the fourth year in a row, the United States recorded growth in purchases abroad of soups and broths and preparations therefor; homogenised composite food preparationses, which increased by 4.1% to 247K tons in 2022. The total import volume increased at an average annual rate of +8.9% 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 imports increased by 16% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.
In value terms, imports of soups and broths and preparations therefor; homogenised composite food preparationses expanded remarkably to $517M in 2022. In general, total imports indicated a prominent increase from 2019 to 2022: its value increased at an average annual rate of +16.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +59.9% against 2019 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 20% against the previous year. Over the period under review, imports of attained the maximum in 2022 and are likely to see steady growth in years to come.
| Import of Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 160 | 159 | 170 | 182 | 4.4% |
| Mexico | 35.2 | 36.7 | 65.9 | 84.6 | 33.9% |
| South Korea | 20.0 | 39.2 | 47.9 | 51.8 | 37.3% |
| China | 14.1 | 24.6 | 26.0 | 30.4 | 29.2% |
| Vietnam | 1.9 | 5.6 | 17.6 | 30.3 | 151.7% |
| Japan | 23.1 | 23.2 | 25.6 | 26.3 | 4.4% |
| Chile | 16.1 | 16.0 | 19.3 | 24.2 | 14.6% |
| Guatemala | 17.7 | 20.5 | 23.5 | 23.7 | 10.2% |
| Thailand | 3.5 | 7.9 | 8.5 | 12.6 | 53.3% |
| Others | 32.2 | 48.2 | 52.9 | 51.4 | 16.9% |
| Total | 323 | 381 | 458 | 517 | 17.0% |
Top Suppliers of Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations to the United States in 2022:
- Canada (145.7K tons)
- Mexico (32.9K tons)
- South Korea (11.3K tons)
- Guatemala (10.9K tons)
- China (9.1K tons)
- Vietnam (7.1K tons)
- Chile (6.3K tons)
- Japan (4.9K tons)
- Thailand (4.3K tons)
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