U.S. Lemon Prices to Increase on Rising Fertilizer Costs, Global Production to Gain 4% y/y in 2022

February 20th, 2022 IndexBox Leave a comment

IndexBox has just published a new report: ‘World – Lemons And Limes – Market Analysis, Forecast, Size, Trends and Insights‘. Here is a summary of the report’s key findings.

Driven by growing logistics and fertilizer costs, lemon prices in the U.S. will rise despite expected increases in domestic and global production. In 2022, worldwide lemon and lime output is forecast to grow by 4% y/y to a record 22M tonnes due to increased acreages and favourable weather in Mexico, Turkey, South Africa and the U.S.

Lemon prices in the U.S. are projected to grow, despite expected increases in domestic and global production. Rising logistics and fertilizer costs are to push up fruit prices. In December 2021, the monthly average retail price for a pound of lemons in the U.S. was estimated at approximately $2.014, rising by 6% compared to December 2020. In 2022, it is forecast to pick up 3% to $2.074 per pound.

This year, global lemon and lime production is projected to increase by 4% y/y to 22M tonnes on the higher harvested areas and favourable weather in Mexico, Turkey and the U.S. Output in Mexico is to grow by 7% y/y to 3.2M tonnes, while Turkey production is set to soar by 27% y/y to a record 1.4M tonnes. Lemon production in South Africa is to rise by 4% y/y to 650K tonnes.

In 2022, U.S. output is expected to pick up 10% y/y to 885K tonnes with a larger crop in California. Imports into the U.S. are forecast to decrease by 2.3% y/y to 840K tonnes on rising domestic production.

Global Lemon and Lime Imports by Country

In 2020, approx. 3.7M tonnes of lemons and limes were imported worldwide, surging by 10% on the year before. In value terms, lemon and lime imports skyrocketed to $4.2B (IndexBox estimates).

In 2020, the U.S. (853K tonnes), distantly followed by the Netherlands (306K tonnes), Germany (260K tonnes), Russia (239K tonnes), France (174K tonnes) and the UK (168K tonnes) were the key importers of lemons and limes, together constituting 55% of total supplies. The following importers – Saudi Arabia (146K tonnes), Poland (141K tonnes), the United Arab Emirates (136K tonnes), Italy (119K tonnes), Canada (66K tonnes), Ukraine (65K tonnes) and Romania (62K tonnes) – together made up 20% of total purchases.

In value terms, the largest lemon and lime importing markets worldwide were the U.S. ($659M), Germany ($455M) and the Netherlands ($346M), together comprising 35% of global imports.

In 2020, the average lemon and lime import price amounted to $1,137 per tonne, surging by 4.8% against the previous year. Prices varied noticeably by the country of destination; the country with the highest price was Canada ($1,925 per tonne), while the United Arab Emirates ($714 per tonne) was amongst the lowest. In 2020, the most notable rate of growth in terms of prices was attained by Poland, while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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Global Mandarin Market: Turkey and China Strengthen Positions in Global Exports

February 20th, 2022 IndexBox Leave a comment

IndexBox has just published a new report: ‘World – Mandarin and Clementine – Market Analysis, Forecast, Size, Trends and Insights‘. Here is a summary of the report’s key findings.

Turkey and China, the leading exporters in the global mandarin market, are to sharply ramp up supplies abroad with rapidly expanding production in 2022. This year, outputs in Turkey and China are forecast to grow by 9% y/y to 1.8M tonnes and by 12% y/y to 28M tonnes, respectively, due to favourable weather and larger harvested areas.

Global mandarin and clementine production is forecast to rise by 2.8% y/y to 39M tonnes, thanks primarily to expected favourable weather and higher area and yields in China, Turkey, Morocco. Exports from these countries are projected to accelerate, driven by sharping demand from the EU and the U.S., where production is set to drop with unfavourable weather.

Turkey, one of the leading mandarin exporters worldwide, is to expand its supplies abroad by 11% y/y to 1M tonnes this year, while China’s exports are to increase by 5% y/y to over 900K tonnes. In 2022, mandarin production in Turkey and China is forecast to grow by 9% y/y to 1.8M tonnes and by 12% y/y to 28M tonnes, respectively. Exports from Morocco are to pick up 8% y/y to 500K tonnes, with Russia comprising over 30% of the total shipments and thus remaining the leading buyer for Moroccan mandarins.

Global Mandarin Exports by Country

In 2020, the volume of tangerines, mandarins, clementines, satsumas exported worldwide amounted to 5.5M tonnes, increasing by 4.8% against 2019. In value terms, mandarin and clementine exports soared to $5.8B (IndexBox estimates).

Spain (1.3M tonnes), distantly followed by Turkey (872K tonnes), China (714K tonnes), Pakistan (463K tonnes), Morocco (450K tonnes) and South Africa (389K tonnes) were the largest exporters of tangerines, mandarins, clementines, satsumas, together making up 77% of total supplies. Peru (215K tonnes), Chile (182K tonnes), Israel (124K tonnes), Greece (117K tonnes) and the Netherlands (103K tonnes) took a relatively small share of total exports.

In value terms, Spain ($1.6B), China ($1.2B) and Turkey ($444M) comprised 56% of global supplies. Morocco, South Africa, Peru, Chile, Pakistan, the Netherlands, Israel and Greece lagged somewhat behind, together accounting for a further 32%.

Source: IndexBox Platform

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U.S. Non-Electric Air Heater Imports Surpass Record $805M

February 19th, 2022 IndexBox Leave a comment

IndexBox has just published a new report: ‘U.S. – Air Heaters Or Hot Air Distributors – Market Analysis, Forecast, Size, Trends And Insights’. Here is a summary of the report’s key findings.

In 2021, the U.S., the largest buyer in the global non-electric air heater market, imported goods worth over $805B, a 33% increase compared to the figures of 2020. American purchases from Mexico and Canada sharply increased, while supplies from China dropped by 21% y-o-y.

The U.S. keeps holding the position of leading non-electric air heater importer worldwide, a new report published by IndexBox reveals. In 2021, the value of air heaters supplied to the U.S. exceeded $805M, soaring by 33% compared to the year earlier.

Mexico, China and Canada remain the largest air heater suppliers to the U.S. Over Q1-Q3 2021, imports from Mexico amounted to $368M, rising by 49% y-o-y. Canada expanded exports to America by 53% y-o-y to $68M during that time, while China’s supplies to the U.S. dropped by 21% y-o-y to $42M.

U.S. Non-Electric Air Heater Imports by Country

In 2020, imports of non-electric air heater and air distributors totalled $607M (IndexBox estimates). Mexico ($381M) constituted the largest supplier of air heaters to the U.S., comprising 63% of total purchases. The second position in the ranking was occupied by China ($78M), with a 13% share of total imports. It was followed by Canada, with a 12% share.

Top Largest Non-Electric Air Heater Importers Worldwide

Global imports of non-electric air heaters and air distributors amounted to $1.6B in 2020. The U.S. ($607M), Canada ($361M) and Russia ($60M) were the largest air heater importers, accounting for 65% of global supplies. These countries were followed by Germany, the Netherlands, Poland, France and the U.K., which accounted for a further 12%. In 2020, Germany recorded the highest growth rates of the import value (+4.3% y-o-y), while purchases for the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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Electric Cooker Trade in the EU Soars 33% to Over $5.2B

February 18th, 2022 IndexBox Leave a comment

IndexBox has just published a new report: ‘EU – Electric Ovens, Cookers, Cooking Plates, Boiling Rings, Grillers And Roasters – Market Analysis, Forecast, Size, Trends and Insights‘. Here is a summary of the report’s key findings.

In Q1-Q3 2021, the trade value on the EU electric cooker market reached $5.2B, surging by 33% against the same period of the previous year. The leading European suppliers, Germany, Poland and Italy, increased electric cooker exports by more than 28% compared to 2020’s figures.

EU electric cooker trade is forecast to hit a record $30B in 2021. During Q1-Q3 2021, electric cooker exports in the EU reached $5.2B, rising by 33% against the same period in 2020. This figure includes the total value of ovens, plates, boiling rings, grillers, rollers and other electric cookers and their accessories.

The largest European electric cooker exporter, Germany, ramped up supplies by 30% to $1.6B. Poland’s foreign sales rose by 28% to $772M, while Italy expanded electric cooker exports by 46% to $766M over the period under review.

EU Electric Cooker Exports by Country

In 2020, electric oven and cooker exports stood at $5.6B (IndexBox estimates), rising by 8.1% from 2019’s figures. The largest electric oven and cooker supplying countries in the EU were Germany ($1.7B), Poland ($884M) and Italy ($778M), together accounting for 62% of total supplies. Spain, Slovenia, the Netherlands and the Czech Republic lagged somewhat behind, accounting for a further 20%.

The electric oven and cooker export price in the EU stood at $126 per unit in 2020, picking up by 5.6% against the previous year. The most notable rate of growth in terms of prices was attained by Slovenia, while the other leaders experienced more modest paces of growth during 2020.

Source: IndexBox Platform

Archives, Global Trade Daily, Imports/Exports

Lower Supply in South America to Raise Soybean Price Forecast in 2022

February 16th, 2022 IndexBox Leave a comment

IndexBox has just published a new report: ‘World – Soya Beans – Market Analysis, Forecast, Size, Trends and Insights‘. Here is a summary of the report’s key findings.

In 2021, the average annual soybean price soared by 43% y/y to $583 per tonne. This year, soybean prices were expected to remain relatively stable, but shortages in supply are likely to spur their growth.

Soybean prices are challenged with supply risks. According to World Bank and USDA data, the average annual soybean price (U.S Gulf Yellow Soybean #2, CIF Rotterdam) amounted to $583 per tonne in 2021, increasing by 43% compared to the previous year’s figure. Despite World Bank predicts the price to pick up 1% y/y to $588 per tonne this year, lower stocks due to poor weather in Brazil, Argentina and other countries may drive price growth.

Global soybean production is expected to reduce slightly by 0.6% y/y to 364M tonnes in 2022 due to expected lower outputs in Brazil, Argentina, Paraguay, China, Canada, Indonesia, Viet Nam and South Africa. Anticipated production increases in the U.S., the EU, Uruguay, India, Russia, Ukraine, and Mexico will not fully offset the drops in other countries.

Despite the harvested area in Brazil, the leading soybean producing country, expanded by 4% over the last year, drought reduced yields sharply. Brazil’s soybean production is expected to fall by 3% y/y to 134M tonnes.

Global Soybean Exports

In 2020, global soya bean exports rose significantly to 173M tonnes, picking up by 11% against 2019. In value terms, supplies soared to $64.1B (IndexBox estimates).

Brazil (83M tonnes) and the U.S. (65M tonnes) dominates the soya bean exports structure, together making up 85% of total exports. Paraguay (6.6M tonnes), Argentina (6.4M tonnes), and Canada (4.4M tonnes) followed a long way behind the leaders.

In value terms, the largest soya bean supplying countries worldwide were Brazil ($28.6B), the U.S. ($25.9B) and Argentina ($2.2B), with a combined 88% share of global exports.

In terms of the main exporting countries, the U.S. (+38% y/y) recorded the highest growth rate concerning the value of exports in 2020, while shipments for the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

Archives, Global Trade Daily, Imports/Exports

Artificial Corundum Exports from China Surge Twofold, Recovering from Previous Year’s Slump

February 15th, 2022 IndexBox Leave a comment

IndexBox has just published a new report: ‘China – Artificial Corundum – Market Analysis, Forecast, Size, Trends And Insights‘. Here is a summary of the report’s key findings.

China strengthens its leading position in the global artificial corundum market as a major supplier. In January-August 2021, its exports spiked by 41% compared to the same period of the previous year, totaling 581K tonnes. In monetary terms, supplies grew nearly twofold to $679M. The key China’s artificial corundum buyers, Japan, India and South Korea, increased their purchases more than twofold, while shipments to the Netherlands rose threefold in value. In January-August 2021, the average export price of artificial corundum from China was 39% higher than in the same period of 2020.

China’s Artificial Corundum Exports

From January to August 2021, China boosted artificial corundum exports to 581K tonnes, a 41%-increase against the same period in 2020. In value terms, supplies rose twofold, reaching $679M. Exports to Japan and South Korea grew twofold to $130M and $80M, respectively. The Netherlands boosted corundum purchases from China threefold to $52M, while shipments to India doubled to $57M. In January-August 2021, the average export price of China’s corundum jumped by 39% compared to those of the same period of 2020.

In 2020, approx. 623K tonnes of artificial corundum were exported from China, declining by -20% compared with the year before. In value terms, artificial corundum exports shrank to $584M (IndexBox estimates).

Japan (96K tonnes), the U.S. (77K tonnes), and India (57K tonnes) were the main destinations of artificial corundum exports from China, together comprising 37% of total volume. These countries were followed by South Korea, Taiwan (Chinese), Turkey, Thailand, Belgium, the Netherlands, Germany, Italy, Iran and Poland, which accounted for a further 42%.

In value terms, the largest markets for artificial corundum exported from China were Japan ($90M), South Korea ($58M) and the U.S. ($55M), together accounting for 35% of total supplies. Taiwan (Chinese), India, Belgium, Thailand, Turkey, Germany, the Netherlands, Italy, Poland and Iran lagged somewhat behind, comprising a further 41%.

Source: IndexBox Platform

Archives, Global Trade Daily, Imports/Exports

EU Olive Oil Production to Gain 13% Through 2030 on High Export Demand

February 15th, 2022 IndexBox Leave a comment

IndexBox has just published a new report: ‘EU – Olive Oil (Virgin) – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

High prices and growing demand in the olive oil market have spurred investments to expand and mechanize plantations that will automate the production process. This will enable increased production in the EU from a projected 2.2M tonnes in 2021 to 2.3M tonnes by 2025. Thanks to rising demand from Asia, top European exporters – Spain, Italy and Portugal – will be able to boost shipments.

Key Trends and Insights

High prices for olive oil in 2020-2021 have prompted an influx of investments to expand plantation sizes in Spain, Italy and Portugal. Olive oil production is becoming completely mechanized from planting trees to harvesting the product. This facilitates minimizing waste and achieving high quality and that improves profitability. Based on projections from the EU Agricultural Outlook 2021-31, IndexBox calculates that in 2021 EU olive oil production will total 2.2M tonnes, then by 2025 increase to 2.3M tonnes and in the following years, it will steadfastly grow to reach 2.5M tonnes by 2031. In Greece, land allocated for plantations will be reduced, however, the country will retain its status as one of the leading exporters.

Climate change, drought and water scarcity will be the key negative factors hindering production growth. To mitigate that, new olive tree varieties that are more resistant to extreme weather conditions will be introduced for new plantations and to replace current ones.

Consumption per capita of olive oil in EU countries, excluding Italy, Spain, Portugal and Greece, will rise about 4% annually, but remain relatively low (1.3 kg/person by 2025). At the same time, the arithmetic mean of per capita consumption in Italy, Spain, Portugal and Greece will decline from 9.3 kg/person in 2021 to 8.9 kg/person in 2025.

Demand from non-European countries is growing and thus driving a projected increase in the total EU olive oil shipments to outside the union from an estimated 860K tonnes in 2021 to 949K tonnes in 2025. The main gains in exports come from those countries without domestic production. In these cases, the main focus is on shipments of high-quality bottled and organic olive oil.

Portugal and Spain should significantly solidify their leadership positions in global exports thanks to heightened demand in Asia-Pacific as well as potentially increased shipments to Brazil. Spain is the largest olive oil supplier with a market share of 43% of global exports. Growing competition from producers in the southern hemisphere is forecast to not significantly influence the EU’s position on the international market.

Virgin Olive Oil Exports in the EU

In 2020, the amount of virgin olive oil exported in the EU expanded to 1.5M tonnes, growing by 11% against 2019 figures. In value terms, supplies reached $5.2B (IndexBox estimates).

Spain represented the major exporting country with an export of about 852K tonnes, which accounted for 56% of total exports. It was distantly followed by Italy (311K tonnes), Portugal (177K tonnes) and Greece (165K tonnes), together creating a 43% share of total supplies.

In value terms, Spain ($2.5B), Italy ($1.4B) and Portugal ($569M) appeared to be the countries with the highest levels of exports in 2020, together comprising 87% of total exports. Greece lagged somewhat behind, accounting for a further 10%.

In 2020, the virgin olive oil export price in the EU amounted to $3,371 per tonne, falling by -6.2% against the previous year. There were significant differences in the average prices amongst the major exporting countries. In 2020, the country with the highest price was Italy ($4,481 per tonne), while Spain ($2,960 per tonne) was amongst the lowest.

Source: IndexBox Platform

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U.S. Injection-Moulding Machine Imports to Hit Record $1B

February 14th, 2022 IndexBox Leave a comment

IndexBox has just published a new report: ‘U.S. – Injection-Moulding Machines For Working Rubber Or Plastics – Market Analysis, Forecast, Size, Trends And Insights‘. Here is a summary of the report’s key findings.

The U.S. sharply boosted injection-moulding machine imports. From January to October 2021, American purchases amounted to $822M, a 43%-increase compared to the same period a year earlier. Over the 12 months of 2021, the total imports are estimated at $1B. Japan, Germany, Austria, China and Italy saw the most prominent growth of export value to the U.S.

From January through October 2021, the U.S. imported injection-moulding machines worth $822M, which was 43% more than in the same period a year earlier. Over the 12 months of 2021, the total imports are estimated to surpass a record $1B.

Japan, Germany, Austria, China and the Republic of Korea remain the leading providers injection-moulding machines to America. Except for the Netherlands, the U.K. and Hong Kong, almost all suppliers increased export values to the U.S. Compared to the same period of the previous year, purchases from Japan rose by 45% to $231M in January-October 2021. Imports from Germany grew by 21% to $164M. Austria and China expanded their supplies by 49% to $143M and 84% to $57M, respectively. Purchases from the Republic of Korea soared by 72% to $56M.

Italy and Switzerland recorded the highest spikes in exports. Supplies from Italy to the U.S. rose threefold, from $5M to $18M. Switzerland’s exports grew twofold, from $14M to $30M.

U.S. Injection-Moulding Machine Imports in 2020

Injection-moulding machine imports dropped to $717M (IndexBox estimates) in 2020. Japan ($192M), Germany ($167M) and Austria ($116M) were the largest suppliers, together comprising 66% of American purchases. Canada, South Korea, China and Thailand lagged somewhat behind, together comprising a further 27%. Among the main suppliers, South Korea (+79% y-o-y) saw the highest growth of the import value in 2020.

World’s Largest Injection-Moulding Machine Suppliers

In 2020, global injection-moulding machine exports were estimated at $5B. The largest supplying countries worldwide were China ($1.3B), Japan ($930M) and Germany ($775M), with a combined 59% share of global supplies. These countries were followed by Austria, Canada, South Korea, Italy, Hong Kong SAR, Thailand, India and Malaysia, which together accounted for a further 29%.

Source: IndexBox Platform

Archives, EU Trade, Global Trade Daily, Imports/Exports

EU Dairy Market Forecast: Cheese Prices to Rise Sharply, Butter and Fluid Milk to Keep Calm

February 12th, 2022 IndexBox Leave a comment

IndexBox has just published a new report: ‘EU – Dairy Produce – Market Analysis, Forecast, Size, Trends and Insights‘. Here is a summary of the report’s key findings.

EU cheese prices are expected to rise with the boosting export demand, while fluid milk and butter prices will keep relatively stable. The EU dairy market is forecast to grow only moderately, having raw milk availability restrained by sustainability objectives. Despite that, the EU is to remain the largest dairy exporter worldwide.

Key Trends and Insights

This year, EU dairy prices are forecast to increase, driven by high demand against limited supply. The average cheese price will post the most noticeable gains, rising to $3.23 (+5.1% compared to the three-year average 2019-2021), while milk will be up to $0.346 per kg (only a +0.6% increase). By 2025, cheese could reach $3.30 per kg, and milk will cost $0.361 per kg. Butter price will remain stable near $2.2 per kg throughout the next five years.

According to the EU Agricultural Outlook 2021-31, in the next decade, the growth of EU milk production will slow down to +0.5% per year due to a decline in herds driven by sustainability objectives. In 2022, dairy cow milk production should increase by 1.4% compared to the three-year average 2019-2021 and total 156M tonnes; then, it should reach 158M tonnes by 2025. The number of dairy cows is expected to decrease from 20.0M heads in 2022 to 19.6M in 2025.

This year, cream production is projected to rise to 2.5M tonnes (+1.4% compared to the three-year average 2019-2021), while by 2025, it will reach 2.6M tonnes. Yoghurt and butter production will not see significant changes, remaining at 7.8M tonnes and 2.4M tonnes, respectively.

In 2022, cheese production will expand to 10.9M tonnes (+1.8%) and reach 11.1M tonnes by 2025. Thanks to the rising demand in Asia, foreign trade in cheese will see gains, while the domestic market will expand only moderately since cheese is a long-known product with established consumption patterns. The EU is expected to keep its position as the largest exporter of dairy products, outstepping New Zealand and the U.S. in shipment volumes. Currently, the largest European suppliers of dairy products are Germany (23%), the Netherlands (12%) and France (11%).

Dairy Produce Exports in the EU

In 2020, the amount of dairy produce exported in the EU declined to 19M tonnes, stabilizing from the previous year. In value terms, dairy exports amounted to $43.4B.

In 2020, Germany (4.6M tonnes), distantly followed by the Netherlands (2.3M tonnes), France (2.1M tonnes), Belgium (1.5M tonnes), Poland (1.3M tonnes), the Czech Republic (1.1M tonnes), Ireland (1M tonnes) and Austria (0.9M tonnes) were the largest exporters of dairy produce, together constituting 76% of total exports. Denmark (765K tonnes), Italy (540K tonnes), Latvia (407K tonnes), Spain (379K tonnes), and Luxembourg (366K tonnes) occupied a relatively small share of total volume.

In value terms, Germany ($8.7B), the Netherlands ($7.5B) and France ($5.7B) constituted the countries with the highest levels of exports in 2020, with a combined 50% share of total supplies. Italy, Ireland, Belgium, Denmark, Poland, Austria, Spain, the Czech Republic, Luxembourg and Latvia lagged somewhat behind, together accounting for a further 41%.

In 2020, the average dairy produce export price in the EU amounted to $2,238 per tonne, rising by 2.1% against the previous year. Prices varied noticeably by the country of origin; the country with the highest price was Italy, while Latvia was amongst the lowest. In 2020, the most notable rate of growth in terms of prices was attained by the Netherlands, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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Corn Prices to Lose 10% in 2022, U.S. Exports Double to $16.5B

February 12th, 2022 IndexBox Leave a comment

IndexBox has just published a new report: ‘U.S. – Maize – Market Analysis, Forecast, Size, Trends and Insights. Here is a summary of the report’s key findings.

In 2022, the average annual maize price is forecast to drop by 10% y-o-y due to higher global production and lower demand from Asia, after growing by 57% y-o-y to $260 per tonne last year. Thanks to rising corn prices and increased demand for feed grains in Canada, U.S. maize export sales reached $16.5B in January-October 2021, doubling compared to the same period a year earlier.

According to World Bank’s data, the average annual corn price grew by 57% y-o-y to $260 per tonne in 2021. This year, it is expected to decrease by 10% y-o-y with higher output and lower demand for feed use in Asia. At the same time, this forecast is subject to several risks, including explosive energy and fertilizer prices, high freight rates, biofuel policies and weather conditions.

Rising corn prices and high demand for feed grains in Canada stimulated the growth of export value from the U.S. Throughout January-October 2021, total U.S. maize supplies reached 60M tonnes, expanding by 30% compared to the same previous year. In value terms, American corn exports grew twofold, reaching a record $16.5B. USDA predicts that U.S. maize sales to Canada will rise ninefold, surpassing 3M tonnes in 2022. High prices for feed barley in Canada are set to propel the growth of demand for substitutes, including corn.

World’s Largest Corn Suppliers

In 2020, the volume of maize exported worldwide rose notably to 169M tonnes, picking up by 6.4% compared with the previous year’s figure. In value terms, supplies stood at $36.4B.

The shipments of the four significant maize exporters, namely the U.S., Brazil, Argentina and Ukraine, represented more than two-thirds of global volume. Romania (5.7M tonnes), France (4.5M tonnes), Hungary (4M tonnes) and Bulgaria (2.6M tonnes) held a minor share of total exports.

In value terms, the U.S. ($9.6B), Argentina ($6.4B) and Brazil ($5.9B) constituted the countries with the highest levels of supplies in 2020, with a combined 60% share of global exports. These countries were followed by Ukraine, France, Romania, Hungary and Bulgaria, which accounted for 24%.

U.S. Corn Exports in 2020

Maize exports from the U.S. soared to 52M tonnes in 2020, increasing 25% against 2019 figures. In value terms, supplies skyrocketed to $9.6B (IndexBox estimates).

Mexico (15M tonnes), Japan (10M tonnes) and China (6.9M tonnes) were the main destinations of maize exports from the U.S., with a combined 62% share of total volume.

In value terms, the largest markets for maize supplied from the U.S. were Mexico ($2.7B), Japan ($1.9B) and China ($1.2B), together accounting for 61% of total exports.

Source: IndexBox Platform

U.S. Lemon Prices to Increase on Rising Fertilizer Costs, Global Production to Gain 4% y/y in 2022

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