Price for Food Preparations Not Elsewhere Specified or Included in India - 2023
Contents:
- Price for Food Preparations Not Elsewhere Specified or Included in India (FOB) - 2023
- Price for Food Preparations Not Elsewhere Specified or Included in India (CIF) - 2023
- Exports of Food Preparations Not Elsewhere Specified or Included in India
- Imports of Food Preparations Not Elsewhere Specified or Included in India
Price for Food Preparations Not Elsewhere Specified or Included in India (FOB) - 2023
In November 2023, the average export price for food preparations not elsewhere specified or included amounted to $3,066 per ton, with an increase of 3% against the previous month. Over the period under review, the export price, however, recorded a mild setback. The pace of growth was the most pronounced in April 2023 when the average export price increased by 14% month-to-month. As a result, the export price reached the peak level of $3,546 per ton. From May 2023 to November 2023, the the average export prices failed to regain momentum.
Prices varied noticeably by the country of destination: the country with the highest price was the UK ($4,050 per ton), while the average price for exports to Iraq ($1,103 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 Australia (+1.3%), while the prices for the other major destinations experienced mixed trend patterns.
Price for Food Preparations Not Elsewhere Specified or Included in India (CIF) - 2023
The average import price for food preparations not elsewhere specified or included stood at $9,863 per ton in November 2023, rising by 41% against the previous month. Over the period under review, import price indicated a tangible increase from November 2022 to November 2023: its price increased at an average monthly rate of +4.0% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on November 2023 figures, import price for food preparations not elsewhere specified or included increased by +41.4% against October 2023 indices. The pace of growth appeared the most rapid in March 2023 an increase of 53% against the previous month. Over the period under review, average import prices reached the maximum in November 2023.
Prices varied noticeably by the country of origin: the country with the highest price was Ireland ($23,171 per ton), while the price for the Netherlands ($3,377 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 Indonesia (+22.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Food Preparations Not Elsewhere Specified or Included in India
In 2022, the amount of food preparations not elsewhere specified or included exported from India rose significantly to 196K tons, surging by 14% compared with the year before. Overall, total exports indicated a prominent expansion from 2019 to 2022: its volume increased at an average annual rate of +18.2% 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 +65.2% against 2019 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 29% 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.
In value terms, exports of food preparations not elsewhere specified or included rose markedly to $623M in 2022. Over the period under review, total exports indicated a buoyant increase from 2019 to 2022: its value increased at an average annual rate of +17.2% 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 +61.1% against 2019 indices. The pace of growth was the most pronounced in 2021 when exports increased by 26% against the previous year. Over the period under review, the exports of attained the peak figure in 2022 and are likely to continue growth in years to come.
| Export of Food Preparations Not Elsewhere Specified or Included in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 92.8 | 104 | 117 | 146 | 16.3% |
| United Arab Emirates | 33.0 | 46.3 | 71.5 | 91.4 | 40.4% |
| Australia | 25.0 | 27.2 | 35.1 | 39.1 | 16.1% |
| Canada | 18.9 | 24.8 | 29.1 | 33.6 | 21.1% |
| United Kingdom | 14.3 | 22.6 | 27.9 | 33.0 | 32.1% |
| Nepal | 24.2 | 22.3 | 28.5 | 24.9 | 1.0% |
| Singapore | 14.8 | 16.2 | 15.7 | 15.0 | 0.4% |
| Saudi Arabia | 8.1 | 8.2 | 7.2 | 11.4 | 12.1% |
| Philippines | 4.4 | 5.0 | 7.9 | 8.2 | 23.1% |
| Ghana | 2.2 | 4.4 | 6.7 | 7.2 | 48.5% |
| South Korea | 5.7 | 6.1 | 6.0 | 7.0 | 7.1% |
| Iraq | 1.0 | 3.2 | 2.1 | 6.3 | 84.7% |
| Others | 142 | 163 | 217 | 200 | 12.1% |
| Total | 387 | 454 | 572 | 623 | 17.2% |
Top Export Markets for Food Preparations Not Elsewhere Specified or Included from India in 2022:
- United Arab Emirates (41.9K tons)
- United States (40.7K tons)
- Canada (12.1K tons)
- Australia (11.9K tons)
- Nepal (10.3K tons)
- Saudi Arabia (8.0K tons)
- United Kingdom (6.9K tons)
- Iraq (4.4K tons)
- Philippines (3.5K tons)
- South Korea (3.4K tons)
- Ghana (3.2K tons)
- Singapore (3.1K tons)
Imports of Food Preparations Not Elsewhere Specified or Included in India
In 2022, after three years of growth, there was decline in purchases abroad of food preparations not elsewhere specified or included, when their volume decreased by -0.8% to 37K tons. Over the period under review, imports, however, continue to indicate significant growth. The pace of growth appeared the most rapid in 2021 when imports increased by 87% against the previous year. As a result, imports reached the peak of 37K tons, leveling off in the following year.
In value terms, imports of food preparations not elsewhere specified or included fell to $143M in 2022. In general, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 41% against the previous year. As a result, imports attained the peak of $159M, and then fell in the following year.
| Import of Food Preparations Not Elsewhere Specified or Included in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 74.3 | 29.9 | 46.5 | 32.5 | -24.1% |
| Ireland | 16.1 | 21.0 | 17.8 | 16.7 | 1.2% |
| Myanmar | N/A | 1.9 | 19.0 | 15.0 | 181.0% |
| Indonesia | 1.4 | 3.3 | 5.5 | 11.6 | 102.4% |
| Netherlands | 11.3 | 11.7 | 11.4 | 10.6 | -2.1% |
| United Kingdom | 5.1 | 8.5 | 14.1 | 8.4 | 18.1% |
| China | 6.1 | 6.7 | 6.3 | 8.4 | 11.3% |
| Malaysia | 4.0 | 2.4 | 4.1 | 6.6 | 18.2% |
| Sri Lanka | 0.1 | N/A | N/A | 5.7 | 284.9% |
| Thailand | 0.3 | 0.8 | 1.3 | 2.8 | 110.5% |
| Cambodia | 0.4 | 0.5 | 1.4 | 2.0 | 71.0% |
| United Arab Emirates | 7.8 | 6.0 | 9.6 | 0.9 | -51.3% |
| Others | 20.2 | 19.7 | 21.8 | 22.3 | 3.4% |
| Total | 147 | 113 | 159 | 143 | -0.9% |
Top Suppliers of Food Preparations Not Elsewhere Specified or Included to India in 2022:
- Myanmar (10.5K tons)
- Indonesia (8.3K tons)
- United States (2.5K tons)
- Malaysia (2.5K tons)
- Thailand (2.0K tons)
- Ireland (1.7K tons)
- Netherlands (1.6K tons)
- Sri Lanka (1.3K tons)
- China (1.2K tons)
- Cambodia (1.1K tons)
- United Kingdom (0.6K tons)
- United Arab Emirates (0.4K tons)
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