Price for Crustacean Preparations; Lobster, Prepared or Preserved in Canada - 2023
Contents:
- Price for Crustacean Preparations; Lobster, Prepared or Preserved in Canada (FOB) - 2023
- Price for Crustacean Preparations; Lobster, Prepared or Preserved in Canada (CIF) - 2023
- Exports of Crustacean Preparations; Lobster, Prepared or Preserved in Canada
- Imports of Crustacean Preparations; Lobster, Prepared or Preserved in Canada
Price for Crustacean Preparations; Lobster, Prepared or Preserved in Canada (FOB) - 2023
The average export price for crustacean preparations; lobster, prepared or preserveds stood at $28,563 per ton in December 2023, with a decrease of -14.8% against the previous month. Overall, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in May 2023 an increase of 48% against the previous month. As a result, the export price reached the peak level of $38,496 per ton. From June 2023 to December 2023, the the average export prices failed to regain momentum.
There were significant differences in the average prices for the major external markets. In December 2023, the country with the highest price was Belgium ($40,047 per ton), while the average price for exports to Italy ($3,988 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 France (+11.2%), while the prices for the other major destinations experienced mixed trend patterns.
Price for Crustacean Preparations; Lobster, Prepared or Preserved in Canada (CIF) - 2023
In December 2023, the average import price for crustacean preparations; lobster, prepared or preserveds amounted to $13,760 per ton, rising by 8.2% against the previous month. Over the period under review, the import price, however, recorded a mild reduction. The most prominent rate of growth was recorded in October 2023 an increase of 27% against the previous month. Over the period under review, average import prices attained the maximum at $19,047 per ton in March 2023; however, from April 2023 to December 2023, import prices remained at a lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Chile ($40,876 per ton), while the price for Malaysia ($4,553 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 the United States (+2.0%), while the prices for the other major suppliers experienced a decline.
Exports of Crustacean Preparations; Lobster, Prepared or Preserved in Canada
In 2022, the amount of crustacean preparations; lobster, prepared or preserveds exported from Canada fell sharply to 8.9K tons, waning by -27.6% compared with 2021. In general, exports continue to indicate a mild downturn. The most prominent rate of growth was recorded in 2021 with an increase of 63%. As a result, the exports reached the peak of 12K tons, and then dropped significantly in the following year.
In value terms, exports of crustacean preparations; lobster, prepared or preserveds contracted notably to $348M in 2022. Over the period under review, exports, however, recorded resilient growth. The most prominent rate of growth was recorded in 2021 with an increase of 129% against the previous year. As a result, the exports reached the peak of $533M, and then shrank markedly in the following year.
| Export of Crustacean Preparations; Lobster, Prepared or Preserved in Canada (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 257 | 224 | 520 | 333 | 9.0% |
| United Kingdom | 4.6 | 0.8 | 2.9 | 4.2 | -3.0% |
| China | 2.5 | 2.3 | 0.6 | 4.0 | 17.0% |
| Others | 5.8 | 5.5 | 9.1 | 7.1 | 7.0% |
| Total | 270 | 233 | 533 | 348 | 8.8% |
Top Export Markets for Crustacean Preparations; Lobster, Prepared or Preserved from Canada in 2022:
- United States (8.1K tons)
- United Kingdom (0.2K tons)
- China (0.2K tons)
Imports of Crustacean Preparations; Lobster, Prepared or Preserved in Canada
For the fourth year in a row, Canada recorded growth in supplies from abroad of crustacean preparations; lobster, prepared or preserveds, which increased by 23% to 272 tons in 2022. The total import volume increased at an average annual rate of +11.6% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, imports of crustacean preparations; lobster, prepared or preserveds soared to $5.1M in 2022. In general, total imports indicated a significant increase from 2019 to 2022: its value increased at an average annual rate of +20.4% 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 +74.7% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Crustacean Preparations; Lobster, Prepared or Preserved in Canada (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 2.3 | 2.7 | 3.2 | 4.5 | 25.1% |
| Chile | 0.5 | 0.3 | 0.1 | 0.4 | -7.2% |
| Malaysia | 0.1 | 0.2 | 0.2 | 0.2 | 26.0% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 2.9 | 3.1 | 3.5 | 5.1 | 20.7% |
Top Suppliers of Crustacean Preparations; Lobster, Prepared or Preserved to Canada in 2022:
- United States (248.4 tons)
- Malaysia (11.8 tons)
- Chile (10.7 tons)
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