Price for Offal, Edible; of Swine, (Other than Livers), Frozen in the United States - 2023

Contents:

1. Price for Offal, Edible; of Swine, (Other than Livers), Frozen in the United States (FOB) - 2023
2. Price for Offal, Edible; of Swine, (Other than Livers), Frozen in the United States (CIF) - 2023
3. Exports of Offal, Edible; of Swine, (Other than Livers), Frozen in the United States
4. Imports of Offal, Edible; of Swine, (Other than Livers), Frozen in the United States

Price for Offal, Edible; of Swine, (Other than Livers), Frozen in the United States (FOB) - 2023

The average export price for offal, edible; of swine, (other than livers), frozen stood at $2,075 per ton in December 2023, almost unchanged from the previous month. Overall, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in January 2023 an increase of 8.1% month-to-month. Over the period under review, the average export prices hit record highs at $2,341 per ton in May 2023; however, from June 2023 to December 2023, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In December 2023, the country with the highest price was South Korea ($2,263 per ton), while the average price for exports to Colombia ($1,065 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 China (+0.4%), while the prices for the other major destinations experienced a decline.

Price for Offal, Edible; of Swine, (Other than Livers), Frozen in the United States (CIF) - 2023

The average import price for offal, edible; of swine, (other than livers), frozen stood at $2,364 per ton in December 2023, waning by -8.3% against the previous month. In general, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in October 2023 an increase of 13% m-o-m. As a result, import price attained the peak level of $2,586 per ton. From November 2023 to December 2023, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In December 2023, the country with the highest price was Finland ($2,866 per ton), while the price for Chile ($1,323 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 Denmark (+2.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports of Offal, Edible; of Swine, (Other than Livers), Frozen in the United States

Exports of offal, edible; of swine, (other than livers), frozen from the United States amounted to 392K tons in 2022, leveling off at the previous year's figure. The total export volume increased at an average annual rate of +2.5% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by 11% against the previous year. Over the period under review, the exports of reached the peak figure in 2022 and are likely to continue growth in the immediate term.

In value terms, exports of offal, edible; of swine, (other than livers), frozen rose slightly to $874M in 2022. Over the period under review, total exports indicated a prominent increase from 2019 to 2022: its value increased at an average annual rate of +16.2% 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 +57.0% against 2019 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 27%. Over the period under review, the exports of attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Top Export Markets for Offal, Edible; of Swine, (Other than Livers), Frozen from the United States in 2022:

1. China (307.2K tons)
2. Mexico (29.2K tons)
3. Philippines (15.9K tons)
4. Japan (9.7K tons)
5. Canada (8.9K tons)
6. Chile (0.4K tons)
7. Hong Kong SAR (0.3K tons)

Imports of Offal, Edible; of Swine, (Other than Livers), Frozen in the United States

In 2022, approx. 20K tons of offal, edible; of swine, (other than livers), frozen were imported into the United States; rising by 19% compared with 2021 figures. In general, total imports indicated a strong increase from 2019 to 2022: its volume increased at an average annual rate of +5.8% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +64.8% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 38%. Over the period under review, imports of hit record highs in 2022 and are likely to see gradual growth in years to come.

In value terms, imports of offal, edible; of swine, (other than livers), frozen soared to $46M in 2022. Over the period under review, total imports indicated a buoyant increase from 2019 to 2022: its value increased at an average annual rate of +12.3% 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 +102.0% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 58% against the previous year. Over the period under review, imports of reached the peak figure in 2022 and are expected to retain growth in years to come.

Top Suppliers of Offal, Edible; of Swine, (Other than Livers), Frozen to the United States in 2022:

1. Canada (12.4K tons)
2. Mexico (4.1K tons)
3. Denmark (3.2K tons)

Source: IndexBox Market Intelligence Platform