Price for Offal, Edible; of Bovine Animals, Tongues, Frozen in the United States - 2023

Contents:

1. Price for Offal, Edible; of Bovine Animals, Tongues, Frozen in the United States (FOB) - 2023
2. Price for Offal, Edible; of Bovine Animals, Tongues, Frozen in the United States (CIF) - 2023
3. Exports of Offal, Edible; of Bovine Animals, Tongues, Frozen in the United States
4. Imports of Offal, Edible; of Bovine Animals, Tongues, Frozen in the United States

Price for Offal, Edible; of Bovine Animals, Tongues, Frozen in the United States (FOB) - 2023

In December 2023, the average export price for offal, edible; of bovine animals, tongues, frozens amounted to $11,242 per ton, with an increase of 5.2% against the previous month. In general, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in June 2023 an increase of 23% month-to-month. Over the period under review, the average export prices hit record highs at $13,210 per ton in August 2023; however, from September 2023 to December 2023, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In December 2023, the country with the highest price was China ($13,670 per ton), while the average price for exports to Mexico ($6,000 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 (+3.8%), while the prices for the other major destinations experienced mixed trend patterns.

Price for Offal, Edible; of Bovine Animals, Tongues, Frozen in the United States (CIF) - 2023

In December 2023, the average import price for offal, edible; of bovine animals, tongues, frozens amounted to $10,114 per ton, surging by 2.4% against the previous month. Over the last twelve-month period, it increased at an average monthly rate of +1.1%. The pace of growth was the most pronounced in March 2023 an increase of 11% month-to-month. Over the period under review, average import prices reached the maximum in December 2023.

Average prices varied noticeably amongst the major supplying countries. In December 2023, the countries with the highest prices were Canada ($10,660 per ton) and Mexico ($10,296 per ton), while the price for New Zealand ($9,389 per ton) and Ireland ($9,811 per ton) were amongst the lowest.

From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by the UK (+3.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports of Offal, Edible; of Bovine Animals, Tongues, Frozen in the United States

For the fourth year in a row, the United States recorded growth in shipments abroad of offal, edible; of bovine animals, tongues, frozens, which increased by 14% to 33K tons in 2022. Over the period under review, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 80%. The exports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, exports of offal, edible; of bovine animals, tongues, frozens skyrocketed to $195M in 2022. Overall, exports saw significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 71%. The exports peaked in 2022 and are expected to retain growth in years to come.

Top Export Markets for Offal, Edible; of Bovine Animals, Tongues, Frozen from the United States in 2022:

1. Japan (30.8K tons)
2. China (0.7K tons)
3. Egypt (0.5K tons)
4. Mexico (0.5K tons)

Imports of Offal, Edible; of Bovine Animals, Tongues, Frozen in the United States

In 2022, supplies from abroad of offal, edible; of bovine animals, tongues, frozens decreased by -30.5% to 1.1K tons, falling for the second year in a row after two years of growth. Over the period under review, imports saw a deep downturn. The pace of growth was the most pronounced in 2020 with an increase of 11% against the previous year. As a result, imports reached the peak of 1.8K tons. From 2021 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of offal, edible; of bovine animals, tongues, frozens dropped notably to $12M in 2022. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by 29%.

Top Suppliers of Offal, Edible; of Bovine Animals, Tongues, Frozen to the United States in 2022:

1. Canada (868.5 tons)
2. Ireland (107.3 tons)
3. New Zealand (90.3 tons)
4. Nicaragua (56.6 tons)

Source: IndexBox Market Intelligence Platform