Decline in U.S. Dairy Spread Imports to $2M in May 2023

Decline in U.S. Dairy Spread Imports to $2M in May 2023

U.S. Dairy Spread Imports

In May 2023, the United States imported a total of 233 tons of dairy spreads, similar to the previous month. Overall, imports experienced significant growth, with the highest rate recorded in September 2022 at 235% month-on-month (m-o-m) increase.

In terms of value, dairy spread imports decreased to $2M (IndexBox estimates) in May 2023. Despite this decline, overall imports showed a resilient increase, especially in September 2022 with a 183% month-on-month growth rate.

Imports by Country

Ireland was the largest supplier of dairy spread to the United States in May 2023, contributing 177 tons and holding a 76% share of total imports. This was five times more than the second-largest supplier, India, which provided 37 tons. Brazil ranked third with 11 tons and a 4.7% share.

Between May 2022 and May 2023, Ireland's monthly volume growth rate averaged at +9.0%. India and Brazil, on the other hand, experienced negative growth rates at -0.5% and -2.5% per month, respectively.

In terms of value, Ireland dominated by providing $1.6M worth of dairy spread imports, accounting for 78% of the total. India followed with $282K (14% share) and Germany with a 4.8% share.

During the same period, Ireland's monthly value growth rate was at +10.8%, while India and Germany had more modest growth rates at +0.1% and +38.3% per month, respectively.

Import Prices by Country

In May 2023, the import price of dairy spread was $8,623 per ton (CIF, US), experiencing a decrease of -3.7% compared to the previous month. Over twelve months, the average monthly growth rate was +2.3%, with the highest increase observed in August 2022 at 34% month-on-month. The peak price of $10,177 per ton was achieved during this time. From September 2022 to May 2023, import prices failed to regain momentum.

Import prices varied across countries, with Germany having the highest price at $11,934 per ton, while Brazil had one of the lowest prices at $5,159 per ton.

Between May 2022 and May 2023, Germany exhibited the most notable price growth at +9.1%, while the other major suppliers saw more modest growth rates.



Source: IndexBox Market Intelligence Platform

Comments

Post a Comment

Popular posts from this blog

China's Import of Diethanolamine Decreases Slightly to $4.8 Million in June 2023

Image
China Diethanolamine Imports In June 2023, China imported approximately 5.5K tons of diethanolamine and its salts, marking a 14.3% decline compared to the previous month. Overall, imports showed a relatively steady trend. The highest growth rate occurred in May 2023, with a 475% month-to-month increase. In terms of value, diethanolamine imports in June 2023 reached $4.8M according to IndexBox estimates. Imports continued to contract during the review period. The most rapid growth rate occurred in May 2023, with a 486% increase compared to the previous month. Imports by Country In June 2023, Saudi Arabia was the largest supplier of diethanolamine to China, accounting for 72% of total imports with 4K tons. Malaysia, the second-largest supplier, only provided 552 tons, a sevenfold difference compared to Saudi Arabia. Between June 2022 and June 2023, the average monthly growth rate of volume from Saudi Arabia was relatively modest. In terms of value, Saudi Arabia constituted 72% of total i
Read more

Maleic Anhydride Imports in Turkey Experience a Significant 36% Decrease in July 2023, Totaling $4M

Image
In July 2023, the volume of maleic anhydride imports in Turkey declined by 32.1% to 3.9K tons, marking the second consecutive month of decline after three months of growth. However, overall imports showed a noticeable expansion, with the most rapid growth recorded in August 2022 at a 140% increase compared to the previous month. In terms of value, maleic anhydride imports saw a significant drop to $4M in July 2023, according to estimates from IndexBox. Imports experienced a pronounced shrinkage during the review period, with the most pronounced growth occurring in August 2022, reaching a peak of $12M. From September 2022 to July 2023, import growth remained at a slightly lower figure. Russia, China, and South Korea were the main suppliers of maleic anhydride imports to Turkey, accounting for a combined 91% share of total imports. During the period from July 2022 to July 2023, Russia experienced the highest growth rate in terms of volume, with a CAGR of +24.0%, while other leading sup
Read more

Top Countries for Importing Chocolate and Confectionery Products Worldwide

Image
Chocolate and confectionery products have always been beloved treats across the globe due to their delicious flavors and indulgent qualities. As a result, the chocolate and confectionery industry has become a thriving sector, with many countries involved in the import and export of these delightful treats. In this article, we will discuss the leading import markets for chocolate and confectionery products worldwide, supported by data and statistics from the IndexBox market report. 1. United States The United States holds the top spot as the largest import market for chocolate and confectionery products with an impressive import value of $10.366 billion in 2022. The American population's deep love for sweets makes it a highly sought-after destination for confectionery imports. With a wide range of options available, from artisanal chocolates to iconic candy brands, the U.S. market caters to the diverse preferences of chocolate and confectionery enthusiasts. The country's large c
Read more