Price for Cutlery; Other than Plated with Precious Metal in India - 2023
Contents:
- Price for Cutlery; Other than Plated with Precious Metal in India (FOB) - 2023
- Price for Cutlery; Other than Plated with Precious Metal in India (CIF) - 2023
- Exports of Cutlery; Other than Plated with Precious Metal in India
- Imports of Cutlery; Other than Plated with Precious Metal in India
Price for Cutlery; Other than Plated with Precious Metal in India (FOB) - 2023
The average export price for cutlery; other than plated with precious metals stood at $5,894 per ton in November 2023, picking up by 7.4% against the previous month. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in March 2023 when the average export price increased by 18% month-to-month. As a result, the export price attained the peak level of $6,274 per ton. From April 2023 to November 2023, the the average export prices remained at a somewhat lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was Germany ($7,146 per ton), while the average price for exports to Sudan ($2,992 per ton) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was recorded for supplies to Panama (+3.2%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Cutlery; Other than Plated with Precious Metal in India (CIF) - 2023
The average import price for cutlery; other than plated with precious metals stood at $2,111 per ton in November 2023, with an increase of 15% against the previous month. Over the period under review, import price indicated a tangible expansion from November 2022 to November 2023: its price increased at an average monthly rate of +2.5% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on November 2023 figures, import price for cutlery; other than plated with precious metals increased by +58.0% against April 2023 indices. The pace of growth appeared the most rapid in March 2023 when the average import price increased by 37% month-to-month. Over the period under review, average import prices hit record highs in November 2023.
As there is only one major supplying country, the average price level is determined by prices for China.
From November 2022 to November 2023, the rate of growth in terms of prices for China amounted to +1.9% per month.
Exports of Cutlery; Other than Plated with Precious Metal in India
In 2022, the amount of cutlery; other than plated with precious metals exported from India dropped to 9.5K tons, reducing by -3.1% against the year before. Over the period under review, exports saw a drastic downturn. The most prominent rate of growth was recorded in 2021 when exports increased by 20%.
In value terms, exports of cutlery; other than plated with precious metals expanded significantly to $61M in 2022. In general, total exports indicated a prominent expansion from 2019 to 2022: its value increased at an average annual rate of +7.3% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +65.9% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 49% against the previous year. Over the period under review, the exports of hit record highs in 2022 and are expected to retain growth in the near future.
| Export of Cutlery; Other than Plated with Precious Metal in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 11.1 | 8.6 | 13.7 | 14.1 | 8.3% |
| United Arab Emirates | 2.7 | 1.9 | 3.3 | 5.4 | 26.0% |
| Australia | 3.4 | 3.3 | 4.5 | 4.8 | 12.2% |
| United Kingdom | 3.1 | 2.3 | 3.3 | 4.3 | 11.5% |
| France | 1.8 | 1.9 | 3.1 | 3.0 | 18.6% |
| Netherlands | 1.9 | 0.8 | 1.5 | 1.9 | 0.0% |
| Saudi Arabia | 1.0 | 1.0 | 1.7 | 1.8 | 21.6% |
| Greece | 0.9 | 0.7 | 1.3 | 1.8 | 26.0% |
| Russia | 1.3 | 0.9 | 1.4 | 1.6 | 7.2% |
| Spain | 1.1 | 0.8 | 1.2 | 1.6 | 13.3% |
| Canada | 0.6 | 0.6 | 0.9 | 1.3 | 29.4% |
| Nigeria | 1.5 | 1.2 | 1.7 | 1.3 | -4.7% |
| Nepal | 0.8 | 0.5 | 0.8 | 0.8 | 0.0% |
| Others | 17.8 | 12.2 | 16.0 | 17.3 | -0.9% |
| Total | 49.1 | 36.6 | 54.4 | 60.7 | 7.3% |
Top Export Markets for Cutlery; Other than Plated with Precious Metal from India in 2022:
- United States (1752.1 tons)
- United Arab Emirates (893.1 tons)
- Australia (723.1 tons)
- United Kingdom (695.6 tons)
- France (476.6 tons)
- Nigeria (356.7 tons)
- Saudi Arabia (321.5 tons)
- Nepal (255.2 tons)
- Netherlands (248.2 tons)
- Greece (214.9 tons)
- Russia (213.7 tons)
- Canada (199.9 tons)
- Spain (191.7 tons)
Imports of Cutlery; Other than Plated with Precious Metal in India
For the fourth consecutive year, India recorded growth in overseas purchases of cutlery; other than plated with precious metals, which increased by 14% to 4.4K tons in 2022. Overall, imports recorded a significant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 142%. Over the period under review, imports of attained the peak figure in 2022 and are expected to retain growth in the near future.
In value terms, imports of cutlery; other than plated with precious metals soared to $7.1M in 2022. Over the period under review, imports recorded significant growth. The most prominent rate of growth was recorded in 2021 when imports increased by 57%. Over the period under review, imports of attained the peak figure in 2022 and are likely to continue growth in the near future.
| Import of Cutlery; Other than Plated with Precious Metal in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 2.9 | 2.7 | 4.5 | 5.3 | 22.3% |
| Others | 1.0 | 1.0 | 1.3 | 1.8 | 21.6% |
| Total | 3.9 | 3.7 | 5.8 | 7.1 | 22.1% |
Top Suppliers of Cutlery; Other than Plated with Precious Metal to India in 2022:
- China (4.3K tons)
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