Price for Offal, Edible; of Bovine Animals, (Other than Tongues and Livers), Frozen in the United States - 2023
Contents:
- Price for Offal, Edible; of Bovine Animals, (Other than Tongues and Livers), Frozen in the United States (FOB) - 2023
- Price for Offal, Edible; of Bovine Animals, (Other than Tongues and Livers), Frozen in the United States (CIF) - 2023
- Exports of Offal, Edible; of Bovine Animals, (Other than Tongues and Livers), Frozen in the United States
- Imports of Offal, Edible; of Bovine Animals, (Other than Tongues and Livers), Frozen in the United States
Price for Offal, Edible; of Bovine Animals, (Other than Tongues and Livers), Frozen in the United States (FOB) - 2023
In December 2023, the average export price for offal, edible; of bovine animals, (other than tongues and livers), frozens amounted to $2,853 per ton, with a decrease of -1.7% against the previous month. In general, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in February 2023 an increase of 10% m-o-m. The export price peaked at $3,120 per ton in April 2023; however, from May 2023 to December 2023, the export prices failed to regain momentum.
There were significant differences in the average prices for the major overseas markets. In December 2023, the country with the highest price was South Korea ($6,101 per ton), while the average price for exports to South Africa ($929 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 China (+2.9%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Offal, Edible; of Bovine Animals, (Other than Tongues and Livers), Frozen in the United States (CIF) - 2023
In December 2023, the average import price for offal, edible; of bovine animals, (other than tongues and livers), frozens amounted to $5,461 per ton, with a decrease of -4.9% against the previous month. Over the period under review, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in June 2023 an increase of 7.2% against the previous month. Over the period under review, average import prices attained the peak figure at $5,821 per ton in September 2023; however, from October 2023 to December 2023, import prices stood at a somewhat 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 New Zealand ($7,573 per ton), while the price for Nicaragua ($4,568 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 Australia (+0.6%), while the prices for the other major suppliers experienced mixed trend patterns.
Exports of Offal, Edible; of Bovine Animals, (Other than Tongues and Livers), Frozen in the United States
In 2022, approx. 133K tons of offal, edible; of bovine animals, (other than tongues and livers), frozens were exported from the United States; rising by 16% compared with 2021. The total export volume increased at an average annual rate of +2.4% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, exports of offal, edible; of bovine animals, (other than tongues and livers), frozens surged to $400M in 2022. The total export value increased at an average annual rate of +7.9% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Offal, Edible; of Bovine Animals, (Other than Tongues and Livers), Frozen in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Mexico | 138 | 125 | 154 | 152 | 3.3% |
| Japan | 41.3 | 30.5 | 30.8 | 61.2 | 14.0% |
| China | 0.3 | 4.5 | 15.2 | 40.1 | 411.3% |
| South Korea | 38.7 | 42.7 | 22.5 | 34.4 | -3.9% |
| Hong Kong SAR | 25.6 | 33.7 | 27.8 | 29.6 | 5.0% |
| Canada | 11.7 | 16.0 | 12.2 | 19.8 | 19.2% |
| Indonesia | 25.1 | 16.8 | 28.8 | 19.6 | -7.9% |
| Philippines | 6.0 | 1.7 | 1.3 | 11.0 | 22.4% |
| South Africa | 3.5 | 1.3 | 4.5 | 5.9 | 19.0% |
| Jamaica | 4.8 | 2.2 | 3.4 | 4.8 | 0.0% |
| Egypt | 5.7 | 1.7 | 1.3 | 1.9 | -30.7% |
| Others | 17.4 | 17.9 | 23.4 | 19.5 | 3.9% |
| Total | 318 | 294 | 325 | 400 | 7.9% |
Top Export Markets for Offal, Edible; of Bovine Animals, (Other than Tongues and Livers), Frozen from the United States in 2022:
- Mexico (58.0K tons)
- Japan (14.1K tons)
- China (14.0K tons)
- Canada (6.6K tons)
- Indonesia (6.6K tons)
- South Korea (6.6K tons)
- Hong Kong SAR (5.6K tons)
- South Africa (5.2K tons)
- Philippines (3.4K tons)
- Jamaica (2.4K tons)
- Egypt (1.7K tons)
Imports of Offal, Edible; of Bovine Animals, (Other than Tongues and Livers), Frozen in the United States
Imports of offal, edible; of bovine animals, (other than tongues and livers), frozens into the United States declined modestly to 46K tons in 2022, waning by -4.1% on 2021 figures. The total import volume increased at an average annual rate of +5.0% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 23%. As a result, imports reached the peak of 48K tons, and then contracted modestly in the following year.
In value terms, imports of offal, edible; of bovine animals, (other than tongues and livers), frozens dropped to $284M in 2022. Over the period under review, total imports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +10.7% 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 +38.0% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 46% against the previous year. As a result, imports attained the peak of $300M, and then dropped in the following year.
| Import of Offal, Edible; of Bovine Animals, (Other than Tongues and Livers), Frozen in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 62.7 | 70.3 | 101 | 85.4 | 10.8% |
| Australia | 58.9 | 51.6 | 70.5 | 68.3 | 5.1% |
| Mexico | 26.2 | 27.3 | 48.0 | 45.0 | 19.8% |
| Uruguay | 23.6 | 18.2 | 22.3 | 32.7 | 11.5% |
| New Zealand | 14.8 | 15.2 | 25.6 | 18.0 | 6.7% |
| Ireland | 13.2 | 12.3 | 14.8 | 16.2 | 7.1% |
| Nicaragua | 8.0 | 8.5 | 13.6 | 11.8 | 13.8% |
| Others | 2.1 | 2.4 | 4.1 | 6.6 | 46.5% |
| Total | 209 | 206 | 300 | 284 | 10.8% |
Top Suppliers of Offal, Edible; of Bovine Animals, (Other than Tongues and Livers), Frozen to the United States in 2022:
- Canada (16.5K tons)
- Mexico (10.7K tons)
- Australia (8.2K tons)
- Uruguay (3.5K tons)
- New Zealand (2.4K tons)
- Nicaragua (2.3K tons)
- Ireland (1.8K tons)
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