Price for Food Preparations Not Elsewhere Specified or Included in Canada - 2024
Contents:
- Price for Food Preparations Not Elsewhere Specified or Included in Canada (CIF) - 2024
- Price for Food Preparations Not Elsewhere Specified or Included in Canada (FOB) - 2024
- Imports of Food Preparations Not Elsewhere Specified or Included in Canada
- Exports of Food Preparations Not Elsewhere Specified or Included in Canada
Price for Food Preparations Not Elsewhere Specified or Included in Canada (CIF) - 2024
In January 2024, the average import price for food preparations not elsewhere specified or included amounted to $6,607 per ton, remaining stable against the previous month. Over the period from January 2023 to January 2024, it increased at an average monthly rate of +1.1%. The most prominent rate of growth was recorded in November 2023 an increase of 13% month-to-month. As a result, import price attained the peak level of $6,915 per ton. From December 2023 to January 2024, the average import prices remained at a lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was China ($8,117 per ton), while the price for Thailand ($1,983 per ton) was amongst the lowest.
From January 2023 to January 2024, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+1.8%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Food Preparations Not Elsewhere Specified or Included in Canada (FOB) - 2024
In January 2024, the average export price for food preparations not elsewhere specified or included amounted to $4,466 per ton, reducing by -6.5% against the previous month. Overall, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in July 2023 an increase of 17% against the previous month. As a result, the export price reached the peak level of $5,339 per ton. From August 2023 to January 2024, the the average export prices failed to regain momentum.
As there is only one major export destination, the average price level is determined by prices for the United States.
From January 2023 to January 2024, the rate of growth in terms of prices for the United States amounted to +0.2% per month.
Imports of Food Preparations Not Elsewhere Specified or Included in Canada
In 2022, the amount of food preparations not elsewhere specified or included imported into Canada expanded markedly to 335K tons, increasing by 6.7% on the previous year's figure. The total import volume increased at an average annual rate of +7.3% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 14%. Over the period under review, imports of hit record highs in 2022 and are likely to see steady growth in years to come.
In value terms, imports of food preparations not elsewhere specified or included expanded remarkably to $2B in 2022. The total import value increased at an average annual rate of +7.4% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 11% against the previous year. Over the period under review, imports of reached the maximum in 2022 and are expected to retain growth in the immediate term.
| Import of Food Preparations Not Elsewhere Specified or Included in Canada (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 1,353 | 1,384 | 1,479 | 1,626 | 6.3% |
| China | 31.4 | 43.8 | 52.1 | 61.7 | 25.3% |
| Taiwan (Chinese) | 14.4 | 13.4 | 31.0 | 33.9 | 33.0% |
| Mexico | 11.9 | 22.0 | 20.0 | 31.5 | 38.3% |
| Others | 197 | 200 | 259 | 238 | 6.5% |
| Total | 1,608 | 1,664 | 1,841 | 1,991 | 7.4% |
Top Suppliers of Food Preparations Not Elsewhere Specified or Included to Canada in 2022:
- United States (273.7K tons)
- Mexico (9.7K tons)
- China (9.2K tons)
- Taiwan (Chinese) (6.6K tons)
Exports of Food Preparations Not Elsewhere Specified or Included in Canada
In 2022, approx. 315K tons of food preparations not elsewhere specified or included were exported from Canada; surging by 13% on 2021. Over the period under review, total exports indicated a resilient increase from 2019 to 2022: its volume increased at an average annual rate of +18.0% 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 +64.3% against 2019 indices. The pace of growth was the most pronounced in 2021 with an increase of 33%. The exports peaked in 2022 and are expected to retain growth in the immediate term.
In value terms, exports of food preparations not elsewhere specified or included expanded rapidly to $1.6B in 2022. The total export value increased at an average annual rate of +10.8% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when exports increased by 18% against the previous year. Over the period under review, the exports of reached the maximum in 2022 and are likely to see gradual growth in years to come.
| Export of Food Preparations Not Elsewhere Specified or Included in Canada (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 862 | 924 | 1,090 | 1,177 | 10.9% |
| South Korea | 66.9 | 91.5 | 96.3 | 84.8 | 8.2% |
| Others | 224 | 242 | 293 | 306 | 11.0% |
| Total | 1,153 | 1,258 | 1,479 | 1,567 | 10.8% |
Top Export Markets for Food Preparations Not Elsewhere Specified or Included from Canada in 2022:
- United States (286.7K tons)
- South Korea (4.7K tons)
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