Price for Food Preparations Not Elsewhere Specified or Included in China - 2023
Contents:
- Price for Food Preparations Not Elsewhere Specified or Included in China (CIF) - 2022
- Price for Food Preparations Not Elsewhere Specified or Included in China (FOB) - 2023
- Imports of Food Preparations Not Elsewhere Specified or Included in China
- Exports of Food Preparations Not Elsewhere Specified or Included in China
Price for Food Preparations Not Elsewhere Specified or Included in China (CIF) - 2022
The average import price for food preparations not elsewhere specified or included stood at $13,004 per ton in 2022, growing by 13% against the previous year. Over the period under review, import price indicated a resilient increase from 2012 to 2022: its price increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for food preparations not elsewhere specified or included increased by +74.4% against 2014 indices. The pace of growth was the most pronounced in 2018 an increase of 16% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in years to come.
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 Australia ($63,039 per ton), while the price for Vietnam ($1,319 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+18.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Food Preparations Not Elsewhere Specified or Included in China (FOB) - 2023
In December 2023, the average export price for food preparations not elsewhere specified or included amounted to $4,349 per ton, jumping by 22% against the previous month. In general, the export price, however, showed a relatively flat trend pattern. The export price peaked at $5,081 per ton in July 2023; however, from August 2023 to December 2023, the export prices remained at a lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was Hong Kong SAR ($24,536 per ton), while the average price for exports to the United Arab Emirates ($1,239 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 the Netherlands (+4.0%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Food Preparations Not Elsewhere Specified or Included in China
For the fourth year in a row, China recorded growth in overseas purchases of food preparations not elsewhere specified or included, which increased by 2.2% to 362K tons in 2022. The total import volume increased at an average annual rate of +6.7% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of 12%. Imports peaked in 2022 and are likely to continue growth in the near future.
In value terms, imports of food preparations not elsewhere specified or included skyrocketed to $4.7B in 2022. The total import value increased at an average annual rate of +14.5% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 23%. Imports peaked in 2022 and are likely to continue growth in years to come.
| Import of Food Preparations Not Elsewhere Specified or Included in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 733 | 857 | 959 | 1,161 | 16.6% |
| Australia | 695 | 881 | 687 | 769 | 3.4% |
| Germany | 193 | 251 | 309 | 455 | 33.1% |
| Japan | 216 | 258 | 300 | 289 | 10.2% |
| Netherlands | 93.6 | 123 | 168 | 230 | 34.9% |
| Thailand | 236 | 264 | 226 | 223 | -1.9% |
| Hong Kong SAR | 65.1 | 114 | 128 | 160 | 35.0% |
| South Korea | 57.8 | 96.3 | 135 | 157 | 39.5% |
| Indonesia | 37.2 | 63.0 | 92.7 | 104 | 40.9% |
| Vietnam | 38.5 | 51.4 | 92.8 | 98.8 | 36.9% |
| Singapore | 61.2 | 66.1 | 64.5 | 96.7 | 16.5% |
| Taiwan (Chinese) | 134 | 137 | 131 | 92.2 | -11.7% |
| Malaysia | 56.9 | 60.3 | 55.4 | 37.4 | -13.1% |
| Others | 519 | 633 | 744 | 838 | 17.3% |
| Total | 3,136 | 3,856 | 4,091 | 4,710 | 14.5% |
Top Suppliers of Food Preparations Not Elsewhere Specified or Included to China in 2022:
- Thailand (80.9K tons)
- Vietnam (74.9K tons)
- Indonesia (46.7K tons)
- Germany (19.8K tons)
- United States (19.7K tons)
- Singapore (17.2K tons)
- Taiwan (Chinese) (13.7K tons)
- Malaysia (12.5K tons)
- Australia (12.2K tons)
- South Korea (9.7K tons)
- Netherlands (9.5K tons)
- Hong Kong SAR (5.8K tons)
- Japan (5.4K tons)
Exports of Food Preparations Not Elsewhere Specified or Included in China
In 2022, approx. 792K tons of food preparations not elsewhere specified or included were exported from China; increasing by 4.2% against the previous year's figure. The total export volume increased at an average annual rate of +9.1% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2020 when exports increased by 16%. Over the period under review, the exports of reached the maximum in 2022 and are likely to continue growth in the near future.
In value terms, exports of food preparations not elsewhere specified or included soared to $3.3B in 2022. Overall, total exports indicated a remarkable increase from 2019 to 2022: its value increased at an average annual rate of +16.7% 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 +59.0% against 2019 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Food Preparations Not Elsewhere Specified or Included in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 376 | 441 | 523 | 551 | 13.6% |
| Hong Kong SAR | 298 | 377 | 350 | 398 | 10.1% |
| Malaysia | 58.0 | 71.3 | 74.8 | 143 | 35.1% |
| Vietnam | 44.8 | 48.9 | 74.9 | 143 | 47.2% |
| Japan | 124 | 117 | 120 | 135 | 2.9% |
| Indonesia | 71.2 | 63.7 | 78.0 | 132 | 22.8% |
| Philippines | 76.4 | 84.1 | 97.6 | 121 | 16.6% |
| Thailand | 85.0 | 76.7 | 116 | 120 | 12.2% |
| Netherlands | 65.6 | 92.3 | 108 | 111 | 19.2% |
| Myanmar | 63.8 | 91.5 | 95.4 | 82.6 | 9.0% |
| United Arab Emirates | 8.0 | 25.9 | 24.2 | 60.2 | 96.0% |
| Nigeria | 18.5 | 26.9 | 39.6 | 41.5 | 30.9% |
| Ghana | 30.7 | 28.8 | 42.2 | 40.7 | 9.9% |
| Others | 737 | 781 | 987 | 1,191 | 17.3% |
| Total | 2,056 | 2,326 | 2,731 | 3,269 | 16.7% |
Top Export Markets for Food Preparations Not Elsewhere Specified or Included from China in 2022:
- United States (68.4K tons)
- Philippines (57.0K tons)
- Indonesia (49.4K tons)
- Myanmar (47.5K tons)
- Japan (40.9K tons)
- Malaysia (40.8K tons)
- United Arab Emirates (38.8K tons)
- Thailand (37.6K tons)
- Vietnam (33.1K tons)
- Hong Kong SAR (32.2K tons)
- Netherlands (29.7K tons)
- Nigeria (24.7K tons)
- Ghana (22.8K tons)
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