Price for Flours and Meals; of Soya Beans in the United States - 2023

Contents:

1. Price for Flours and Meals; of Soya Beans in the United States (FOB) - 2023
2. Price for Flours and Meals; of Soya Beans in the United States (CIF) - 2023
3. Exports of Flours and Meals; of Soya Beans in the United States
4. Imports of Flours and Meals; of Soya Beans in the United States

Price for Flours and Meals; of Soya Beans in the United States (FOB) - 2023

In September 2023, the average export price for flours and meals; of soya beanses amounted to $504 per ton, leveling off at the previous month. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in January 2023 when the average export price increased by 21% m-o-m. The export price peaked at $585 per ton in March 2023; however, from April 2023 to September 2023, the export prices remained at a lower figure.

Average prices varied somewhat for the major overseas markets. In September 2023, the highest price was recorded for prices to Japan ($646 per ton) and Vietnam ($569 per ton), while the average price for exports to Canada ($468 per ton) and the Philippines ($501 per ton) were amongst the lowest.

From December 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+1.8%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Flours and Meals; of Soya Beans in the United States (CIF) - 2023

The average import price for flours and meals; of soya beanses stood at $1,134 per ton in September 2023, surging by 26% against the previous month. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in August 2023 an increase of 35% m-o-m. Over the period under review, average import prices attained the peak figure at $1,407 per ton in February 2023; however, from March 2023 to September 2023, import prices remained at a lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was Mexico ($1,396 per ton), while the price for Canada ($779 per ton) was amongst the lowest.

From December 2022 to September 2023, the most notable rate of growth in terms of prices was attained by the Netherlands (+23.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports of Flours and Meals; of Soya Beans in the United States

In 2022, overseas shipments of flours and meals; of soya beanses decreased by -16.7% to 2.1M tons, falling for the second year in a row after two years of growth. Overall, exports saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of 12%. As a result, the exports reached the peak of 2.9M tons. From 2021 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of flours and meals; of soya beanses shrank to $1.1B in 2022. The total export value increased at an average annual rate of +3.8% over the period from 2019 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when exports increased by 11%.

Top Export Markets for Flours and Meals; of Soya Beans from the United States in 2022:

1. Philippines (1363.3K tons)
2. Vietnam (240.2K tons)
3. Japan (117.6K tons)
4. Canada (64.1K tons)
5. Thailand (57.6K tons)
6. Chile (48.0K tons)
7. Colombia (22.2K tons)

Imports of Flours and Meals; of Soya Beans in the United States

In 2022, after three years of growth, there was significant decline in supplies from abroad of flours and meals; of soya beanses, when their volume decreased by -31.8% to 7K tons. Over the period under review, total imports indicated resilient growth from 2019 to 2022: its volume increased at an average annual rate of +6.1% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +19.6% against 2019 indices. The pace of growth was the most pronounced in 2021 when imports increased by 54% against the previous year. As a result, imports attained the peak of 10K tons, and then shrank significantly in the following year.

In value terms, imports of flours and meals; of soya beanses surged to $7.7M in 2022. In general, total imports indicated a significant expansion from 2019 to 2022: its value increased at an average annual rate of +21.7% 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 +80.2% against 2019 indices. The pace of growth was the most pronounced in 2021 with an increase of 32% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

Top Suppliers of Flours and Meals; of Soya Beans to the United States in 2022:

1. Canada (5026.1 tons)
2. Denmark (914.5 tons)
3. Netherlands (362.8 tons)
4. Mexico (238.1 tons)
5. Belgium (171.8 tons)
6. South Korea (142.0 tons)
7. China (120.8 tons)
8. India (21.4 tons)

Source: IndexBox Market Intelligence Platform