Price for Cutlery; Other than Plated with Precious Metal in China - 2023
Contents:
- Price for Cutlery; Other than Plated with Precious Metal in China (FOB) - 2023
- Price for Cutlery; Other than Plated with Precious Metal in China (CIF) - 2022
- Exports of Cutlery; Other than Plated with Precious Metal in China
- Imports of Cutlery; Other than Plated with Precious Metal in China
Price for Cutlery; Other than Plated with Precious Metal in China (FOB) - 2023
The average export price for cutlery; other than plated with precious metals stood at $7,711 per ton in December 2023, increasing by 10% against the previous month. Overall, the export price, however, saw a slight setback. The most prominent rate of growth was recorded in February 2023 when the average export price increased by 12% month-to-month. The export price peaked at $8,984 per ton in March 2023; however, from April 2023 to December 2023, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major foreign markets. In December 2023, the country with the highest price was Vietnam ($9,627 per ton), while the average price for exports to Brazil ($6,155 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 Kazakhstan (+1.4%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Cutlery; Other than Plated with Precious Metal in China (CIF) - 2022
In 2022, the average import price for cutlery; other than plated with precious metals amounted to $26,024 per ton, jumping by 24% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.4%. The pace of growth was the most pronounced in 2017 an increase of 30%. The import price peaked in 2022 and is expected to retain growth in the near future.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($111,362 per ton), while the price for Thailand ($5,588 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+16.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Cutlery; Other than Plated with Precious Metal in China
In 2022, the amount of cutlery; other than plated with precious metals exported from China totaled 199K tons, rising by 12% on the year before. The total export volume increased at an average annual rate of +2.3% over the period from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The growth pace was the most rapid in 2021 with an increase of 15% 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.
In value terms, exports of cutlery; other than plated with precious metals soared to $1.6B in 2022. Overall, total exports indicated a resilient increase from 2019 to 2022: its value increased at an average annual rate of +13.3% 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 +54.3% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 29% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.
| Export of Cutlery; Other than Plated with Precious Metal in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 169 | 169 | 273 | 282 | 18.6% |
| Indonesia | 50.3 | 55.1 | 81.1 | 116 | 32.1% |
| Philippines | 30.3 | 28.6 | 36.1 | 75.9 | 35.8% |
| United Arab Emirates | 32.3 | 26.3 | 35.7 | 61.2 | 23.7% |
| Malaysia | 30.7 | 30.6 | 31.5 | 56.0 | 22.2% |
| Germany | 38.8 | 32.2 | 43.1 | 44.6 | 4.8% |
| United Kingdom | 35.4 | 22.6 | 33.4 | 41.0 | 5.0% |
| Thailand | 17.3 | 20.7 | 30.2 | 40.3 | 32.6% |
| India | 20.4 | 24.6 | 28.2 | 40.0 | 25.2% |
| Mexico | 17.9 | 22.4 | 32.1 | 39.0 | 29.6% |
| Netherlands | 28.3 | 22.3 | 30.8 | 35.7 | 8.1% |
| Saudi Arabia | 35.7 | 32.7 | 35.0 | 33.5 | -2.1% |
| Iraq | 30.3 | 29.8 | 26.8 | 26.3 | -4.6% |
| Others | 581 | 538 | 646 | 736 | 8.2% |
| Total | 1,118 | 1,055 | 1,363 | 1,628 | 13.3% |
Top Export Markets for Cutlery; Other than Plated with Precious Metal from China in 2022:
- United States (32.4K tons)
- Indonesia (12.6K tons)
- United Arab Emirates (9.0K tons)
- Philippines (7.8K tons)
- Malaysia (5.8K tons)
- Mexico (5.5K tons)
- United Kingdom (4.8K tons)
- India (4.6K tons)
- Germany (4.6K tons)
- Netherlands (4.4K tons)
- Thailand (4.4K tons)
- Saudi Arabia (4.2K tons)
- Iraq (4.1K tons)
Imports of Cutlery; Other than Plated with Precious Metal in China
After three years of growth, overseas purchases of cutlery; other than plated with precious metals decreased by -30.9% to 224 tons in 2022. Over the period under review, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 21% against the previous year. As a result, imports attained the peak of 325 tons, and then dropped notably in the following year.
In value terms, imports of cutlery; other than plated with precious metals reduced to $5.8M in 2022. The total import value increased at an average annual rate of +8.5% over the period 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 27% against the previous year.
| Import of Cutlery; Other than Plated with Precious Metal in China (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Vietnam | 1,744 | 1,524 | 2,596 | 2,126 | 6.8% |
| Japan | 629 | 1,345 | 1,590 | 1,552 | 35.1% |
| France | 114 | 149 | 274 | 544 | 68.4% |
| Italy | 522 | 348 | 430 | 530 | 0.5% |
| South Korea | 494 | 1,170 | 624 | 357 | -10.3% |
| Taiwan (Chinese) | 229 | 312 | 531 | 276 | 6.4% |
| United States | 152 | 133 | 142 | 100 | -13.0% |
| Thailand | 65.6 | 135 | 230 | 2.9 | -64.6% |
| Others | 620 | 686 | 394 | 353 | -17.1% |
| Total | 4,569 | 5,802 | 6,810 | 5,841 | 8.5% |
Top Suppliers of Cutlery; Other than Plated with Precious Metal to China in 2022:
- Vietnam (127.4 tons)
- Japan (44.6 tons)
- South Korea (17.6 tons)
- Taiwan (Chinese) (10.6 tons)
- Italy (6.8 tons)
- France (4.9 tons)
- United States (2.4 tons)
- Thailand (0.5 tons)
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