Price for Offal, Edible; of Bovine Animals, Fresh or Chilled in the United States - 2023

Contents:

1. Price for Offal, Edible; of Bovine Animals, Fresh or Chilled in the United States (FOB) - 2023
2. Price for Offal, Edible; of Bovine Animals, Fresh or Chilled in the United States (CIF) - 2023
3. Exports of Offal, Edible; of Bovine Animals, Fresh or Chilled in the United States
4. Imports of Offal, Edible; of Bovine Animals, Fresh or Chilled in the United States

Price for Offal, Edible; of Bovine Animals, Fresh or Chilled in the United States (FOB) - 2023

In December 2023, the average export price for offal, edible; of bovine animals, fresh or chilleds amounted to $16,498 per ton, approximately equating the previous month. In general, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in June 2023 an increase of 6.1% m-o-m. Over the period under review, the average export prices hit record highs at $17,050 per ton in July 2023; however, from August 2023 to December 2023, the export prices failed to regain momentum.

Average prices varied somewhat for the major overseas markets. In December 2023, the country with the highest price was Japan ($16,925 per ton), while the average price for exports to South Korea ($12,459 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 Mexico (+2.9%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Offal, Edible; of Bovine Animals, Fresh or Chilled in the United States (CIF) - 2023

In December 2023, the average import price for offal, edible; of bovine animals, fresh or chilleds amounted to $7,300 per ton, therefore, remained relatively stable against the previous month. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in March 2023 when the average import price increased by 6.4% month-to-month. The import price peaked at $7,419 per ton in August 2023; however, from September 2023 to December 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In December 2023, the country with the highest price was Argentina ($9,619 per ton), while the price for Mexico ($6,101 per ton) was amongst the lowest.

From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by Canada (+1.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports of Offal, Edible; of Bovine Animals, Fresh or Chilled in the United States

For the third year in a row, the United States recorded decline in overseas shipments of offal, edible; of bovine animals, fresh or chilleds, which decreased by -8% to 19K tons in 2022. Overall, exports saw a sharp decline.

In value terms, exports of offal, edible; of bovine animals, fresh or chilleds fell to $298M in 2022. Over the period under review, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 23%. As a result, the exports reached the peak of $312M, and then shrank modestly in the following year.

Top Export Markets for Offal, Edible; of Bovine Animals, Fresh or Chilled from the United States in 2022:

1. Japan (17.3K tons)
2. South Korea (0.9K tons)
3. Mexico (0.6K tons)

Imports of Offal, Edible; of Bovine Animals, Fresh or Chilled in the United States

In 2022, overseas purchases of offal, edible; of bovine animals, fresh or chilleds decreased by -18.4% to 17K tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, imports showed a slight reduction. The most prominent rate of growth was recorded in 2021 with an increase of 15%. As a result, imports attained the peak of 21K tons, and then declined sharply in the following year.

In value terms, imports of offal, edible; of bovine animals, fresh or chilleds shrank markedly to $120M in 2022. In general, total imports indicated resilient growth from 2019 to 2022: its value increased at an average annual rate of +5.2% 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 +16.4% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 44% against the previous year. As a result, imports attained the peak of $148M, and then dropped sharply in the following year.

Top Suppliers of Offal, Edible; of Bovine Animals, Fresh or Chilled to the United States in 2022:

1. Mexico (10.2K tons)
2. Canada (4.0K tons)
3. Australia (2.0K tons)
4. Argentina (0.3K tons)

Source: IndexBox Market Intelligence Platform