Price for Protein; Concentrates and Textured Protein Substances in the United States - 2024
Contents:
- Price for Protein; Concentrates and Textured Protein Substances in the United States (FOB) - 2024
- Price for Protein; Concentrates and Textured Protein Substances in the United States (CIF) - 2022
- Exports of Protein; Concentrates and Textured Protein Substances in the United States
- Imports of Protein; Concentrates and Textured Protein Substances in the United States
Price for Protein; Concentrates and Textured Protein Substances in the United States (FOB) - 2024
In May 2024, the average export price for protein; concentrates and textured protein substanceses amounted to $7,940 per ton, increasing by 6.2% against the previous month. Over the period from May 2023 to May 2024, it increased at an average monthly rate of +1.8%. The most prominent rate of growth was recorded in April 2024 an increase of 9.5% m-o-m. Over the period under review, the average export prices attained the maximum in May 2024.
Prices varied noticeably by the country of destination: the country with the highest price was Thailand ($20,512 per ton), while the average price for exports to Poland ($2,313 per ton) was amongst the lowest.
From May 2023 to May 2024, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+7.5%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Protein; Concentrates and Textured Protein Substances in the United States (CIF) - 2022
In 2022, the average import price for protein; concentrates and textured protein substanceses amounted to $5,147 per ton, jumping by 19% against the previous year. In general, import price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of +4.9% 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 protein; concentrates and textured protein substanceses increased by +52.7% against 2019 indices. The most prominent rate of growth was recorded in 2013 when the average import price increased by 41%. Over the period under review, average import prices attained the maximum at $6,456 per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.
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 Mexico ($9,691 per ton), while the price for Brazil ($2,026 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+16.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Protein; Concentrates and Textured Protein Substances in the United States
Exports of protein; concentrates and textured protein substanceses from the United States fell sharply to 117K tons in 2022, which is down by -17.6% on the year before. In general, exports showed a deep reduction. The pace of growth was the most pronounced in 2021 with an increase of 8.2%.
In value terms, exports of protein; concentrates and textured protein substanceses contracted to $813M in 2022. Overall, exports saw a perceptible descent. The most prominent rate of growth was recorded in 2021 when exports increased by 5.6%. As a result, the exports attained the peak of $921M, and then declined in the following year.
| Export of Protein; Concentrates and Textured Protein Substances in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 146 | 142 | 169 | 183 | 7.8% |
| Netherlands | 71.3 | 73.9 | 78.0 | 59.5 | -5.9% |
| Mexico | 60.0 | 68.4 | 62.3 | 58.3 | -1.0% |
| United Arab Emirates | 35.1 | 25.4 | 37.4 | 48.8 | 11.6% |
| Japan | 32.3 | 31.7 | 30.6 | 31.0 | -1.4% |
| South Korea | 58.4 | 102 | 74.2 | 29.9 | -20.0% |
| United Kingdom | 23.1 | 31.5 | 26.9 | 27.7 | 6.2% |
| Australia | 31.1 | 35.3 | 31.7 | 20.6 | -12.8% |
| Colombia | 17.4 | 11.1 | 10.3 | 11.5 | -12.9% |
| Philippines | 9.4 | 3.4 | 4.8 | 9.2 | -0.7% |
| Dominican Republic | 5.9 | 5.3 | 6.9 | 9.2 | 16.0% |
| Egypt | 1.3 | 3.1 | 3.8 | 7.6 | 80.1% |
| Spain | 7.1 | 4.7 | 4.6 | 7.1 | 0.0% |
| Others | 372 | 335 | 381 | 310 | -5.9% |
| Total | 871 | 872 | 921 | 813 | -2.3% |
Top Export Markets for Protein; Concentrates and Textured Protein Substances from the United States in 2022:
- Canada (20.1K tons)
- Mexico (15.7K tons)
- Netherlands (7.4K tons)
- United Kingdom (5.9K tons)
- South Korea (4.4K tons)
- Japan (4.0K tons)
- Egypt (3.3K tons)
- United Arab Emirates (3.2K tons)
- Dominican Republic (2.9K tons)
- Australia (2.8K tons)
- Spain (2.7K tons)
- Colombia (2.5K tons)
- Philippines (2.3K tons)
Imports of Protein; Concentrates and Textured Protein Substances in the United States
For the fourth year in a row, the United States recorded growth in supplies from abroad of protein; concentrates and textured protein substanceses, which increased by 30% to 71K tons in 2022. Overall, imports posted significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 145% against the previous year. 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 protein; concentrates and textured protein substanceses surged to $363M in 2022. Over the period under review, imports enjoyed significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 152% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the immediate term.
| Import of Protein; Concentrates and Textured Protein Substances in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 20.1 | 79.7 | 122 | 132 | 87.3% |
| Czech Republic | N/A | N/A | 1.6 | 38.0 | 2275.0% |
| Netherlands | 5.1 | 9.8 | 9.7 | 27.6 | 75.6% |
| United Kingdom | 1.2 | 1.7 | 2.2 | 23.6 | 169.9% |
| China | 19.1 | 19.0 | 16.8 | 23.6 | 7.3% |
| Mexico | 4.0 | 11.6 | 14.0 | 13.2 | 48.9% |
| Brazil | 4.0 | 20.5 | 8.8 | 11.8 | 43.4% |
| Serbia | 0.1 | 3.7 | 2.8 | 6.1 | 293.6% |
| Others | 13.2 | 21.7 | 57.9 | 87.3 | 87.7% |
| Total | 66.6 | 168 | 235 | 363 | 76.0% |
Top Suppliers of Protein; Concentrates and Textured Protein Substances to the United States in 2022:
- Canada (35.2K tons)
- China (6.3K tons)
- Brazil (5.8K tons)
- Netherlands (5.7K tons)
- Czech Republic (4.4K tons)
- United Kingdom (3.0K tons)
- Serbia (2.8K tons)
- Mexico (1.4K tons)
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