Price for Vegetable Saps and Extracts; of Hops in the United States - 2023
Contents:
- Price for Vegetable Saps and Extracts; of Hops in the United States (FOB) - 2023
- Price for Vegetable Saps and Extracts; of Hops in the United States (CIF) - 2022
- Exports of Vegetable Saps and Extracts; of Hops in the United States
- Imports of Vegetable Saps and Extracts; of Hops in the United States
Price for Vegetable Saps and Extracts; of Hops in the United States (FOB) - 2023
In December 2023, the average export price for vegetable saps and extracts; of hopses amounted to $32,751 per ton, increasing by 12% against the previous month. Over the period under review, the export price, however, showed a mild decrease. The most prominent rate of growth was recorded in September 2023 an increase of 35% month-to-month. Over the period under review, the average export prices attained the peak figure at $38,204 per ton in December 2022; however, from January 2023 to December 2023, the export prices remained at a lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was Mexico ($56,424 per ton), while the average price for exports to China ($13,505 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 the UK (+2.5%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Vegetable Saps and Extracts; of Hops in the United States (CIF) - 2022
The average import price for vegetable saps and extracts; of hopses stood at $32,380 per ton in 2022, approximately reflecting the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 27%. The import price peaked at $32,953 per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($35,690 per ton), while the price for China ($16,514 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+1.8%), while the prices for the other major suppliers experienced mixed trend patterns.
Exports of Vegetable Saps and Extracts; of Hops in the United States
In 2022, the amount of vegetable saps and extracts; of hopses exported from the United States was estimated at 6.1K tons, increasing by 14% on 2021 figures. The total export volume increased at an average annual rate of +5.9% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 18%. Over the period under review, the exports of hit record highs in 2022 and are expected to retain growth in the immediate term.
In value terms, exports of vegetable saps and extracts; of hopses rose significantly to $181M in 2022. Overall, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by 21%. Over the period under review, the exports of hit record highs in 2022 and are expected to retain growth in years to come.
| Export of Vegetable Saps and Extracts; of Hops in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Mexico | 22.1 | 18.7 | 49.4 | 33.1 | 14.4% |
| Brazil | 22.5 | 21.4 | 19.7 | 24.8 | 3.3% |
| Germany | 20.7 | 13.4 | 5.9 | 17.4 | -5.6% |
| China | 11.9 | 11.7 | 13.1 | 15.8 | 9.9% |
| United Kingdom | 24.3 | 9.8 | 12.9 | 14.0 | -16.8% |
| Belgium | 22.1 | 7.9 | 12.0 | 11.2 | -20.3% |
| Vietnam | 13.1 | 10.7 | 6.8 | 10.3 | -7.7% |
| Thailand | 0.6 | 0.3 | 0.2 | 7.8 | 135.1% |
| Colombia | 4.2 | 3.5 | 3.5 | 4.8 | 4.6% |
| South Korea | 3.4 | 1.7 | 3.3 | 3.6 | 1.9% |
| Australia | 2.3 | 2.2 | 3.6 | 3.5 | 15.0% |
| Argentina | 2.7 | 4.7 | 4.1 | 2.9 | 2.4% |
| Netherlands | 0.4 | 0.5 | 0.7 | 2.7 | 89.0% |
| Others | 28.3 | 30.1 | 30.3 | 29.0 | 0.8% |
| Total | 178 | 137 | 165 | 181 | 0.6% |
Top Export Markets for Vegetable Saps and Extracts; of Hops from the United States in 2022:
- Brazil (1162.3 tons)
- Mexico (666.9 tons)
- China (664.0 tons)
- Germany (620.9 tons)
- United Kingdom (579.5 tons)
- Belgium (399.8 tons)
- Vietnam (247.8 tons)
- Thailand (223.8 tons)
- Australia (194.8 tons)
- South Korea (125.8 tons)
- Argentina (110.3 tons)
- Colombia (106.6 tons)
- Netherlands (101.7 tons)
Imports of Vegetable Saps and Extracts; of Hops in the United States
For the fourth year in a row, the United States recorded growth in overseas purchases of vegetable saps and extracts; of hopses, which increased by 7.7% to 202 tons in 2022. In general, total imports indicated significant growth from 2019 to 2022: its volume increased at an average annual rate of +22.5% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +84.0% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 52%. Imports peaked in 2022 and are expected to retain growth in the immediate term.
In value terms, imports of vegetable saps and extracts; of hopses expanded significantly to $6.5M in 2022. Overall, imports posted significant growth. The pace of growth appeared the most rapid in 2020 when imports increased by 51% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the near future.
| Import of Vegetable Saps and Extracts; of Hops in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 0.6 | 2.8 | 4.9 | 5.4 | 108.0% |
| United Kingdom | 0.3 | 0.2 | 1.0 | 1.0 | 49.4% |
| China | 1.6 | 1.2 | 0.1 | 0.1 | -60.3% |
| Italy | 0.6 | 0.6 | 0.1 | N/A | -59.2% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 3.2 | 4.8 | 6.1 | 6.5 | 26.6% |
Top Suppliers of Vegetable Saps and Extracts; of Hops to the United States in 2022:
- Germany (150.9 tons)
- United Kingdom (45.5 tons)
- China (4.7 tons)
- Italy (1.0 tons)
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