Price for Fats and Oils and Their Fractions; of Fish, (Excluding Liver-Oils) in the United States - 2023
Contents:
- Price for Fats and Oils and Their Fractions; of Fish, (Excluding Liver-Oils) in the United States (CIF) - 2023
- Price for Fats and Oils and Their Fractions; of Fish, (Excluding Liver-Oils) in the United States (FOB) - 2023
- Imports of Fats and Oils and Their Fractions; of Fish, (Excluding Liver-Oils) in the United States
- Exports of Fats and Oils and Their Fractions; of Fish, (Excluding Liver-Oils) in the United States
Price for Fats and Oils and Their Fractions; of Fish, (Excluding Liver-Oils) in the United States (CIF) - 2023
In September 2023, the average import price for fats and oils and their fractions; of fish, (excluding liver-oils)s amounted to $5,518 per ton, with an increase of 224% against the previous month. Over the period under review, the import price, however, saw a mild reduction. The pace of growth appeared the most rapid in July 2023 when the average import price increased by 287% against the previous month. As a result, import price attained the peak level of $7,679 per ton. From August 2023 to September 2023, the average import prices remained at a somewhat lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Peru ($9,293 per ton), while the price for Chile ($2,339 per ton) was amongst the lowest.
From December 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Iceland (+1.0%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Fats and Oils and Their Fractions; of Fish, (Excluding Liver-Oils) in the United States (FOB) - 2023
The average export price for fats and oils and their fractions; of fish, (excluding liver-oils)s stood at $5,294 per ton in September 2023, rising by 5.1% against the previous month. Over the last nine-month period, it increased at an average monthly rate of +2.4%. The most prominent rate of growth was recorded in June 2023 when the average export price increased by 43% against the previous month. As a result, the export price attained the peak level of $6,326 per ton. From July 2023 to September 2023, the the average export prices remained at a somewhat lower figure.
There were significant differences in the average prices for the major export markets. In September 2023, the country with the highest price was China ($17,473 per ton), while the average price for exports to South Korea ($2,564 per ton) was amongst the lowest.
From December 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to Denmark (+36.2%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Fats and Oils and Their Fractions; of Fish, (Excluding Liver-Oils) in the United States
For the fourth consecutive year, the United States recorded growth in overseas purchases of fats and oils and their fractions; of fish, (excluding liver-oils)s, which increased by 14% to 29K tons in 2022. The total import volume increased at an average annual rate of +12.5% 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 2020 when imports increased by 19%. Over the period under review, imports of hit record highs in 2022 and are likely to see gradual growth in the immediate term.
In value terms, imports of fats and oils and their fractions; of fish, (excluding liver-oils)s soared to $174M in 2022. In general, total imports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +16.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +67.0% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Fats and Oils and Their Fractions; of Fish, (Excluding Liver-Oils) in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Peru | 33.6 | 36.5 | 39.9 | 61.1 | 22.1% |
| Norway | 37.7 | 32.6 | 40.3 | 53.4 | 12.3% |
| Iceland | 11.7 | 14.3 | 17.7 | 23.4 | 26.0% |
| Chile | 6.5 | 7.9 | 8.6 | 12.0 | 22.7% |
| Canada | 8.7 | 5.8 | 7.6 | 10.7 | 7.1% |
| Mexico | 1.1 | 2.3 | 4.5 | 6.0 | 76.0% |
| Others | 10.9 | 5.0 | 6.8 | 7.9 | -10.2% |
| Total | 110 | 104 | 125 | 174 | 16.5% |
Top Suppliers of Fats and Oils and Their Fractions; of Fish, (Excluding Liver-Oils) to the United States in 2022:
- Peru (8.4K tons)
- Chile (5.7K tons)
- Norway (5.5K tons)
- Iceland (3.8K tons)
- Mexico (2.9K tons)
- Canada (1.8K tons)
Exports of Fats and Oils and Their Fractions; of Fish, (Excluding Liver-Oils) in the United States
For the third consecutive year, the United States recorded decline in overseas shipments of fats and oils and their fractions; of fish, (excluding liver-oils)s, which decreased by -16.7% to 39K tons in 2022. In general, exports continue to indicate a dramatic decrease.
In value terms, exports of fats and oils and their fractions; of fish, (excluding liver-oils)s rose remarkably to $147M in 2022. Over the period under review, exports continue to indicate a pronounced descent.
| Export of Fats and Oils and Their Fractions; of Fish, (Excluding Liver-Oils) in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 34.2 | 41.7 | 40.7 | 46.8 | 11.0% |
| Belgium | 58.1 | 14.6 | 12.0 | 24.9 | -24.6% |
| Denmark | 24.6 | 40.1 | 26.3 | 17.0 | -11.6% |
| Chile | 11.3 | 7.3 | 5.9 | 6.1 | -18.6% |
| South Korea | 7.9 | 6.6 | 6.1 | 5.9 | -9.3% |
| Costa Rica | N/A | 0.3 | 0.8 | 2.6 | 194.4% |
| Taiwan (Chinese) | 5.1 | 3.2 | 3.8 | 2.4 | -22.2% |
| Others | 29.2 | 31.0 | 34.9 | 41.2 | 12.2% |
| Total | 170 | 145 | 131 | 147 | -4.7% |
Top Export Markets for Fats and Oils and Their Fractions; of Fish, (Excluding Liver-Oils) from the United States in 2022:
- Canada (15.1K tons)
- Belgium (8.0K tons)
- Denmark (6.4K tons)
- Chile (3.4K tons)
- South Korea (1.9K tons)
- Costa Rica (0.9K tons)
- Taiwan (Chinese) (0.5K tons)
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This report provides an in-depth analysis of the market for fish fat and oil in the U.S..
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This report provides an in-depth analysis of the global market for fish fat and oil.
493
This report provides an in-depth analysis of the market for fish fat and oil in the U.S..
748
This report provides an in-depth analysis of the global market for fish fat and oil.
603
Over the past decade, global production of fish fat and oil rose from 3.7M tons to 11.3M tons. In value terms, production expanded significantly from $6.5B to $16.7B estimated in export prices.
603
Over the past decade, global production of fish fat and oil rose from 3.7M tons to 11.3M tons. In value terms, production expanded significantly from $6.5B to $16.7B estimated in export prices.
