Price for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Canada - 2023

Contents:

1. Price for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Canada (CIF) - 2023
2. Price for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Canada (FOB) - 2023
3. Imports of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Canada
4. Exports of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Canada

Price for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Canada (CIF) - 2023

The average import price for liquid margarine and edible mixtures of animal or vegetable fats stood at $2,714 per ton in October 2023, jumping by 16% against the previous month. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in April 2023 when the average import price increased by 22% against the previous month. As a result, import price reached the peak level of $3,505 per ton. From May 2023 to October 2023, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In October 2023, the country with the highest price was New Zealand ($4,696 per ton), while the price for Indonesia ($2,110 per ton) was amongst the lowest.

From December 2022 to October 2023, the most notable rate of growth in terms of prices was attained by Indonesia (+3.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Canada (FOB) - 2023

In October 2023, the average export price for liquid margarine and edible mixtures of animal or vegetable fats amounted to $1,942 per ton, increasing by 3.6% against the previous month. Over the period under review, the export price, however, showed a slight shrinkage. Over the period under review, the average export prices hit record highs at $2,193 per ton in December 2022; however, from January 2023 to October 2023, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for the United States.

From December 2022 to October 2023, the rate of growth in terms of prices for the United States amounted to -1.3% per month.

Imports of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Canada

After three years of growth, supplies from abroad of liquid margarine and edible mixtures of animal or vegetable fats decreased by -19.5% to 70K tons in 2022. In general, imports continue to indicate a noticeable decrease. The pace of growth was the most pronounced in 2021 with an increase of 13%. As a result, imports reached the peak of 87K tons, and then dropped sharply in the following year.

In value terms, imports of liquid margarine and edible mixtures of animal or vegetable fats reached $190M in 2022. Overall, total imports indicated resilient growth from 2019 to 2022: its value increased at an average annual rate of +16.1% 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 +56.4% against 2019 indices. The pace of growth was the most pronounced in 2021 when imports increased by 39% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Top Suppliers of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats to Canada in 2022:

1. United States (42.5K tons)
2. Indonesia (12.6K tons)
3. Malaysia (10.3K tons)
4. Netherlands (1.6K tons)

Exports of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Canada

Exports of liquid margarine and edible mixtures of animal or vegetable fats from Canada shrank to 78K tons in 2022, declining by -3.5% against 2021. The total export volume increased at an average annual rate of +7.3% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 29%. As a result, the exports attained the peak of 81K tons, and then shrank modestly in the following year.

In value terms, exports of liquid margarine and edible mixtures of animal or vegetable fats surged to $173M in 2022. Overall, exports, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 80% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Top Export Markets for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats from Canada in 2022:

1. United States (77.8K tons)

Source: IndexBox Market Intelligence Platform