Price for Vegetables; Potatoes (Other than Seed), Fresh or Chilled in the United States - 2023
Contents:
- Price for Vegetables; Potatoes (Other than Seed), Fresh or Chilled in the United States (FOB) - 2023
- Price for Vegetables; Potatoes (Other than Seed), Fresh or Chilled in the United States (CIF) - 2022
- Exports of Vegetables; Potatoes (Other than Seed), Fresh or Chilled in the United States
- Imports of Vegetables; Potatoes (Other than Seed), Fresh or Chilled in the United States
Price for Vegetables; Potatoes (Other than Seed), Fresh or Chilled in the United States (FOB) - 2023
In December 2023, the average export price for vegetables; potatoes (other than seed), fresh or chilleds amounted to $617 per ton, approximately mirroring the previous month. Overall, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in August 2023 when the average export price increased by 24% against the previous month. Over the period under review, the average export prices reached the maximum at $638 per ton in May 2023; however, from June 2023 to December 2023, the export prices failed to regain momentum.
Average prices varied somewhat for the major overseas markets. In December 2023, the countries with the highest prices were South Korea ($782 per ton) and Honduras ($773 per ton), while the average price for exports to Taiwan (Chinese) ($550 per ton) and Canada ($554 per ton) were amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+1.9%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Vegetables; Potatoes (Other than Seed), Fresh or Chilled in the United States (CIF) - 2022
The average import price for vegetables; potatoes (other than seed), fresh or chilleds stood at $606 per ton in December 2022, reducing by -7.4% against the previous month. In general, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in September 2022 when the average import price increased by 13% against the previous month. As a result, import price reached the peak level of $697 per ton. From October 2022 to December 2022, the average import prices remained at a lower figure.
As there is only one major supplying country, the average price level is determined by prices for Canada.
From December 2021 to December 2022, the rate of growth in terms of prices for Canada amounted to -0.5% per month.
Exports of Vegetables; Potatoes (Other than Seed), Fresh or Chilled in the United States
In 2022, approx. 509K tons of vegetables; potatoes (other than seed), fresh or chilleds were exported from the United States; waning by -9.1% compared with 2021. Overall, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by 17%. As a result, the exports reached the peak of 560K tons, and then shrank in the following year.
In value terms, exports of vegetables; potatoes (other than seed), fresh or chilleds totaled $283M in 2022. The total export value increased at an average annual rate of +5.2% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 13% against the previous year. Over the period under review, the exports of attained the maximum in 2022 and are likely to see steady growth in the immediate term.
| Export of Vegetables; Potatoes (Other than Seed), Fresh or Chilled in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 108 | 86.4 | 102 | 83.9 | -8.1% |
| Mexico | 46.5 | 52.3 | 56.0 | 82.7 | 21.2% |
| Japan | 15.0 | 12.8 | 25.2 | 20.8 | 11.5% |
| Taiwan (Chinese) | 17.0 | 21.1 | 17.4 | 16.2 | -1.6% |
| South Korea | 6.7 | 10.7 | 8.8 | 15.1 | 31.1% |
| Philippines | 9.8 | 7.2 | 6.8 | 12.1 | 7.3% |
| Honduras | 4.1 | 6.2 | 7.6 | 10.6 | 37.2% |
| Dominican Republic | 4.9 | 3.7 | 9.1 | 9.2 | 23.4% |
| Malaysia | 7.3 | 5.6 | 5.1 | 4.9 | -12.4% |
| Others | 23.9 | 23.6 | 21.6 | 27.2 | 4.4% |
| Total | 243 | 230 | 259 | 283 | 5.2% |
Top Export Markets for Vegetables; Potatoes (Other than Seed), Fresh or Chilled from the United States in 2022:
- Canada (194.4K tons)
- Mexico (129.5K tons)
- Japan (44.7K tons)
- Taiwan (Chinese) (29.2K tons)
- South Korea (19.9K tons)
- Philippines (19.1K tons)
- Honduras (15.1K tons)
- Dominican Republic (13.6K tons)
- Malaysia (7.6K tons)
Imports of Vegetables; Potatoes (Other than Seed), Fresh or Chilled in the United States
In 2022, approx. 415K tons of vegetables; potatoes (other than seed), fresh or chilleds were imported into the United States; picking up by 2.6% on 2021 figures. The total import volume increased at an average annual rate of +6.2% over the period from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 when imports increased by 21%. As a result, imports attained the peak of 420K tons. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.
In value terms, imports of vegetables; potatoes (other than seed), fresh or chilleds amounted to $251M in 2022. The total import value increased at an average annual rate of +8.9% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The pace of growth appeared the most rapid in 2020 when imports increased by 23% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.
| Import of Vegetables; Potatoes (Other than Seed), Fresh or Chilled in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 195 | 240 | 242 | 251 | 8.8% |
| Others | 0.2 | 0.1 | N/A | N/A | -50.0% |
| Total | 195 | 240 | 242 | 251 | 8.8% |
Top Suppliers of Vegetables; Potatoes (Other than Seed), Fresh or Chilled to the United States in 2022:
- Canada (415.0K tons)
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In August 2022, the vegetable price per ton amounted to $1.1K, approximately equating the previous month.
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In June 2022, the vegetable price per ton stood at $1,344 per ton in June 2022, rising by 17% against the previous month.
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In 2021, after three years of growth, there was decline in the U.S. vegetable market, when its value decreased by...
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The volume of imports in the U.S. fresh vegetable market is forecast to increase from 8.9M tons in 2021 to 9.3M tons in 2022. In monetary terms, imports should decrease from $10.5B to $10.3B with an expected price decline. Throughout January-October 2021, American purchases totalled 6.9M tons, which was 5.5% more than in the same period last year. Mexico, Canada and Peru remain the key suppliers for the U.S., accounting for 95% of its total import volume.
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Fresh vegetable consumer prices in the U.S. increased somewhat noticeably in Q1 2021 but then decelerated in Q2, relaxing slightly against the ongoing food price rally. Owing to the spate of lockdowns and the restructuring of the supply chain, production growth has failed to keep pace with the robust demand spurred by the counter-pandemic financial support measures. Rising production costs and increasing demand for biofuel-oriented oil crops also contribute to tangible food inflation.
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