Price for Food Preparations Not Elsewhere Specified or Included in Belgium - 2023

Contents:

1. Price for Food Preparations Not Elsewhere Specified or Included in Belgium (FOB) - 2023
2. Price for Food Preparations Not Elsewhere Specified or Included in Belgium (CIF) - 2023
3. Exports of Food Preparations Not Elsewhere Specified or Included in Belgium
4. Imports of Food Preparations Not Elsewhere Specified or Included in Belgium

Price for Food Preparations Not Elsewhere Specified or Included in Belgium (FOB) - 2023

In November 2023, the average export price for food preparations not elsewhere specified or included amounted to $3,250 per ton, shrinking by -23.7% against the previous month. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in July 2023 when the average export price increased by 30% month-to-month. The export price peaked at $4,258 per ton in October 2023, and then reduced sharply in the following month.

Prices varied noticeably by the country of destination: the country with the highest price was Poland ($7,304 per ton), while the average price for exports to Latvia ($315 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 Spain (+3.3%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Food Preparations Not Elsewhere Specified or Included in Belgium (CIF) - 2023

In November 2023, the average import price for food preparations not elsewhere specified or included amounted to $4,146 per ton, dropping by -20.1% against the previous month. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in October 2023 when the average import price increased by 33% m-o-m. As a result, import price reached the peak level of $5,190 per ton, and then contracted markedly in the following month.

Prices varied noticeably by the country of origin: the country with the highest price was Brazil ($7,044 per ton), while the price for Ireland ($1,481 per ton) was amongst the lowest.

From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by Germany (+5.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports of Food Preparations Not Elsewhere Specified or Included in Belgium

In 2022, the amount of food preparations not elsewhere specified or included exported from Belgium surged to 392K tons, jumping by 16% against the year before. The total export volume increased at an average annual rate of +13.1% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 when exports increased by 20%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, exports of food preparations not elsewhere specified or included reached $1.2B in 2022. Overall, total exports indicated a prominent expansion from 2019 to 2022: its value increased at an average annual rate of +14.3% 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 +49.4% against 2019 indices. The pace of growth was the most pronounced in 2020 with an increase of 26% against the previous year. Over the period under review, the exports of hit record highs in 2022 and are likely to see gradual growth in the immediate term.

Top Export Markets for Food Preparations Not Elsewhere Specified or Included from Belgium in 2022:

1. Netherlands (71.4K tons)
2. Germany (67.0K tons)
3. France (44.1K tons)
4. United Kingdom (39.1K tons)
5. Spain (22.3K tons)
6. Sweden (14.6K tons)
7. Italy (14.4K tons)
8. United States (9.7K tons)
9. Poland (7.5K tons)
10. Saudi Arabia (6.5K tons)

Imports of Food Preparations Not Elsewhere Specified or Included in Belgium

For the fourth year in a row, Belgium recorded growth in purchases abroad of food preparations not elsewhere specified or included, which increased by 9.7% to 264K tons in 2022. The total import volume increased at an average annual rate of +5.7% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations 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 food preparations not elsewhere specified or included shrank to $899M in 2022. The total import value increased at an average annual rate of +12.3% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by 20%. As a result, imports reached the peak of $903M, leveling off in the following year.

Top Suppliers of Food Preparations Not Elsewhere Specified or Included to Belgium in 2022:

1. Netherlands (111.4K tons)
2. France (71.7K tons)
3. Germany (37.3K tons)
4. Brazil (6.3K tons)
5. Ireland (4.3K tons)
6. Italy (4.2K tons)
7. Spain (4.2K tons)

Source: IndexBox Market Intelligence Platform