Turkey Prices in the U.S. Keep Soaring Due to Strong Demand and Labor Shortages

December 22nd, 2021 IndexBox Leave a comment

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

This November, the price for fresh whole body turkeys surpassed November 2020 figures by 9%, while frozen whole body turkeys jumped 20% y-o-y. A short supply of workers led to lower turkey output and higher prices on the backdrop of consistently strong consumer demand. Turkey imports to the U.S. maintained the previous year’s levels. Canada and Chile remain the only turkey suppliers to America. Unprecedented inflation rates have struck the entire food sector; in October 2021, price increases for meats, poultry, fish and eggs became the highest recorded in the past 30 years.

Key Trends and Insights

Due to accelerating food inflation, Thanksgiving dinner this year will cost Americans significantly more than the previous one. According to the latest report from the USDA, the average price for fresh whole body turkeys in November 2021 was $1.46 per pound, which is 9% more than the previous year. The price for frozen whole body turkeys came to $1.36 per pound, a 20% increase in comparison to 2020.

The average cost of organic fresh whole body turkeys totaled $3.24 per pound (+4.8% compared to November 2020), while organic frozen whole body turkeys were $3.30 per pound (+23%). On average antibiotic-free fresh whole body turkeys cost $2.37 per pound (a decrease of 7%), at the same time, frozen whole body turkeys are going for $3.30 per pound (twice the gains compared to November 2020).

The increase in turkey prices is caused by solid demand running into a 6% y-o-y drop in butchered turkeys to 4.6M tonnes, due in part to a deficit of workers. The turkey market size in 2020 totaled 2.4M tonnes, while this year, it is expected to decrease to about 2.3M tonnes.

Higher turkey prices are occurring in the broader context of unprecedented inflation for food products. According to the U.S. Bureau of Labor Statistics, October prices for meats, poultry, fish and eggs grew by 11.9% in comparison with October 2020. That is the fastest rate of price increases in the past 30 years.

It is unlikely that imports will offset the short supply of turkeys in the US. In 2021, imports remained at comparable levels to the previous year and from January through September consisted of 7K tonnes, accounting for about 0.4% of US consumption. In monetary terms, imports totaled $19.6M, having grown by 7% in comparison with the same period in 2020. Canada makes up 80% of American imports, together with Chile being the only suppliers of turkeys to the U.S.

Turkey Exports from the U.S.

In 2020, exports of turkey meat from the U.S. contracted to 214K tonnes, with a decrease of -11.8% compared with 2019. In value terms, turkey meat exports shrank from $483M to $416M (IndexBox estimates).

Mexico (135K tonnes) was the main destination for turkey meat exports from the U.S., accounting for a 63% share of total exports. Moreover, turkey meat exports to Mexico exceeded the volume sent to the second major destination, China (17K tonnes), eightfold. The third position in this ranking was occupied by Guatemala (4.8K tonnes), with a 2.2% share.

In value terms, Mexico ($262M) remains the key foreign market for turkey meat exports from the U.S., comprising 63% of total exports. The second position in the ranking was occupied by China ($27M), with a 6.6% share of total exports. It was followed by the Dominican Republic, with a 2.6% share.

From 2010 to 2020, the average annual growth rate of value to Mexico (+0.2% per year) was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-3.0% per year) and the Dominican Republic (+0.2% per year).

In 2020, the average turkey meat export price amounted to $1,945 per tonne, with a decrease of -2.4% against the previous year. There were significant differences in the average prices for the major export markets. In 2020, the country with the highest price was the Dominican Republic ($2,434 per tonne), while the average price for exports to Jamaica ($1,195 per tonne) was amongst the lowest. Over the past decade, the most notable rate of growth in terms of prices was recorded for supplies to China, while the prices for the other major destinations experienced more modest paces of growth.

Source: IndexBox Platform

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Palm Kernel Oil Prices Soar by 27% in October

December 21st, 2021 IndexBox Leave a comment

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

Prices for palm kernel oil spiked by 27% over the month, reaching $1,807 in October 2021. Compared to this year’s January figures, the prices soared by +32%. In 2020, palm kernel exports dropped by -3.1% y-o-y in physical terms but grew by +8.9% y-o-y in value terms, reaching $2.5B. Indonesia remains the largest supplier, accounting for 56% of global exports of palm kernel oil. China, the U.S. and Germany constitute the most prominent importers of the product.

Palm Kernel Oil Prices

According to World Bank’s data, the global price for palm kernel oil spiked by 27% over a month, increasing from $1,427 per tonne in September to $1,807 in October 2021.

Since the beginning of this year, the global price grew by +32%, rising from $1,368 per tonne in January to $1,807 per tonne in October 2021. In 2020, the average price was estimated at $824 per tonne.

Global Palm Kernel Oil Exports

In 2020, approx. 3.1M tonnes of palm kernel and babassu oil were exported worldwide, declining by -3.1% compared with 2019 figures. In value terms, palm kernel oil exports expanded by +8.9% y-o-y to $2.5B (IndexBox estimates) in 2020.

Indonesia was the largest exporter of palm kernel and babassu oil globally, with the volume of exports resulting at 1.7M tonnes, which was near 56% of total exports in 2020. It was distantly followed by Malaysia (864K tonnes), achieving a 28% share of total exports. The following exporters – Guatemala (74K tonnes), Papua New Guinea (69K tonnes), Thailand (66K tonnes) and Colombia (65K tonnes) – each reached 9% shares of total exports.

In 2020, the exports from Guatemala rose twofold, while shipments from the other global leaders experienced more modest paces of growth.

In value terms, Indonesia ($1.3B), Malaysia ($708M) and Papua New Guinea ($57M) appeared to be the top exporting countries in 2020, together accounting for 86% of global exports. These countries were followed by Colombia, Guatemala and Thailand, which accounted for a further 5.8%.

In 2020, the average palm kernel oil export price amounted to $800 per tonne, increasing by +12% against the previous year. Prices varied somewhat amongst the major exporting countries. In 2020, the highest average prices were recorded in Papua New Guinea ($825 per tonne) and Malaysia ($819 per tonne), while Guatemala ($607 per tonne) and Thailand ($667 per tonne) featured the lowest prices. In 2020, the most notable rate of growth in terms of prices was attained by Indonesia, while the other global leaders experienced more modest paces of growth.

World’s Major Importers of Palm Kernel Oil

In 2020, China (845K tonnes), distantly followed by the U.S. (381K tonnes), Germany (358K tonnes), Malaysia (292K tonnes), the Netherlands (229K tonnes), and Brazil (216K tonnes) were the major importers of palm kernel and babassu oil, together with mixing up 72% of total imports. India (124K tonnes), Turkey (76K tonnes), Japan (73K tonnes), Russia (70K tonnes), the Philippines (54K tonnes), Spain (51K tonnes) and Italy (51K tonnes) took a relatively small share of total imports.

In value terms, China ($570M), the U.S. ($335M) and Germany ($303M) were the countries with the highest levels of imports in 2020, with a combined 46% share of the total figure. Malaysia, the Netherlands, Brazil, India, Russia, Japan, Turkey, Italy, Spain and the Philippines lagged somewhat behind, comprising a further 39%.

Source: IndexBox Platform

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U.S. and China Expand Caustic Soda Exports to Brazil

December 20th, 2021 IndexBox Leave a comment

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

In 2020, Brazil’s caustic soda imports jumped by +17% y-o-y to 2.7M tonnes, or by +11% y-o-y to $507M in value terms. The U.S., followed by Peru and China, remains the key supplier of caustic soda to Brazil, accounting for 91% of the import volume. Last year, purchases from the U.S. and China soared in physical terms, while imports from Peru declined by -12% y-o-y. The average caustic soda import price dropped by -5.3% y-o-y to $185 per tonne in 2020.

Brazil’s Caustic Soda Imports

In 2020, approx. 2.7M tonnes of caustic soda were imported into Brazil, increasing by +17% against the previous year’s figure. In value terms, caustic soda imports expanded by +10.6% y-o-y to $507M (IndexBox estimates) in 2020.

In 2020, the U.S. (2.5M tonnes) was the leading supplier of caustic soda to Brazil, with a 91% share of total imports. It was followed by Peru (65K tonnes), with a 2.4% share of total imports. China (63K tonnes) ranked third in terms of total imports with a 2.3% share.

In 2020, the volume of supplies from the U.S. totalled grew by +13.7% y-o-y. Imports from Peru dropped by -12.3% y-o-y, while purchases from China rose nearly twofold.

In value terms, the U.S. ($451M) constituted the largest supplier of to Brazil, comprising 89% of total imports. The second position in the ranking was occupied by China ($15M), with a 3% share of total imports, and it was followed by Peru, with a 2.6% share.

The average caustic soda import price stood at $185 per tonne in 2020, dropping by -5.3% against the previous year. Average prices varied somewhat amongst the major supplying countries. In 2020, the highest prices were recorded for prices from China ($244 per tonne) and Peru ($204 per tonne), while the price for Saudi Arabia ($165 per tonne) and the U.S. ($182 per tonne) were amongst the lowest. In 2020, the most notable rate of growth in terms of prices was attained by Saudi Arabia, while the prices for the other significant suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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Cotton Prices Jump After U.S. Cut Exports Twofold

December 19th, 2021 IndexBox Leave a comment

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

Cotton prices jumped by +13% to $2.59 per kg in October 2021, according to World Bank’s data. Global supply shows a sign of reduction, as American cotton exports dropped twofold from September to October. Droughts have wiped out a significant part of cotton crops across the U.S., especially in Texas. The U.S. remains the world’s leading supplier, accounting for 41% of global cotton lint exports. China, Viet Nam, and Pakistan represent key importers of cotton lint from America.

Cotton Price Trend

According to World Bank’s data, the cotton price (middling 1-3/32 inch, traded at the Far East) jumped from $2.29 per kg in September 2021 to $2.59 per kg in October. The reducing yields in the U.S. due to unfavourable weather forced American suppliers to slump exports, decreasing global market supply. The U.S. is the leading supplier, accounting for 41% of global cotton lint exports.

Since the beginning of this year, the global price increased from $1.92 per kg in January to $2.59 per kg in October. In 2020, the average cotton price estimated at $1.59 per kg.

American Cotton Exports by Country

Since the second half of 2021, American cotton exports have started to decline steadily. The most prominent drop was recorded in October when the supplies abroad fell from 209K tonnes to 122K tonnes over a month.

In 2020, the amount of cotton lint exported from the U.S. rose significantly to 3.8M tonnes, picking up by +7.3% compared with 2019 figures. In value terms, cotton lint exports fell slightly from $6.1B in 2019 to $6B (IndexBox estimates) in 2020.

China (1.2M tonnes), Viet Nam (782K tonnes), and Pakistan (507K tonnes) were the main destinations of cotton lint exports from the U.S., with a combined 65% share of total exports. In 2020, the supplies to China grew threefold, while shipments for the other leaders experienced mixed trend patterns.

In value terms, China ($1.8B), Viet Nam ($1.2B) and Pakistan ($788M) appeared to be the largest markets for cotton lint exported from the U.S. worldwide, together comprising 63% of total exports.

The average export price for cotton lint from the U.S. stood at $1,56 per kg in 2020, shrinking by -9.5% against the previous year. Average prices varied somewhat for the major overseas markets. In 2020, the highest prices were recorded for prices to India ($2,12 per kg) and Indonesia ($1,62 per kg), while the average prices for exports to Viet Nam ($1,5 per kg) and China ($1,54 per kg) were amongst the lowest. In 2020, the most notable growth rate in terms of prices was recorded for supplies to India, while the prices for the other significant destinations experienced a decline.

Source: IndexBox Platform

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Americans Are Paying More for Christmas Decorations This Year. Here’s Why.

December 18th, 2021 IndexBox Leave a comment

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

This year, Americans have to pay more for Christmas lights, as the average import price for lighting sets soared by 7% compared to the figures of 2020, reaching $3.08 per unit. The reduction in global production of lighting decorations and skyrocketed freight rates, combined with the increased cost of raw materials and energy resources, led to this spike in prices. Throughout January-October 2021, U.S.Christmas lighting set imports totaled $511M, 10% more than in the same period a year earlier. In physical terms, the volume of supplies remained nearly unchanged against 2020’s figures, while shipment from China reduced significantly.

U.S. Christmas Lighting Set Imports in 2021

The average import price for Christmas lighting sets in the U.S. soared by 7% y-o-y to $3.08 per unit. Over the ten months of 2021, the average prices of products purchased from major suppliers were the following: Cambodia ($3.10 per unit; increase of +5.0% y-o-y,), Philippines ($3.17 per unit; +25% y-o-y), China ($3.75 per unit; +5.0% y-o-y).

From January to October 2021, the U.S. imported 150M units of lighting sets worth $511M. In value terms, imports rose by +10% compared to the same period last year, while the purchases in physical terms remained nearly unchanged.

China’s supplies fell by -20% to 15.5M units or by -23% to $66.7M in monetary terms. This decrease was offset by rising imports from Cambodia, Viet Nam, Mexico, the Philippines, Malaysia, Australia, the Netherlands and Hong Kong. Compared to the same period in 2020, this year’s growths of shipments from major suppliers were the following: Cambodia (+1.4%, to 91.3М units), Philippines (+3.3%, to 24.7M units), Mexico (+2.9% to 12.7M units).

Imports from Viet Nam soared from 930K units to 3.2M units. Moreover, Malaysia, Australia, the Netherlands and Hong Kong have also significantly expanded their lighting set exports to the U.S.

U.S. Christmas Lighting Set Imports in 2020

Last year, imports of lighting sets for Christmas trees into the U.S. amounted to 149M units. In value terms, purchases shrank modestly to $479M (IndexBox estimates). The U.S. remained the largest importer, accounting for 22% of global import volume.

Cambodia ($288M) constituted the largest supplier of lighting set for Christmas trees to the U.S., comprising 60% of total imports. The second position in the ranking was occupied by China ($90M), with a 19% share of total imports. It was followed by the Philippines, with a 14% share.

The growth rate of value from Cambodia amounted to +21.5% y-o-y. The remaining supplying countries recorded the following average annual rates of imports growth: China (-36.4% y-o-y) and the Philippines (-20.1% y-o-y).

Source: IndexBox Platform

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France’s Wine Exports Strongly Rebound After Last Year’s Drop

December 17th, 2021 IndexBox Leave a comment

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

Wine exports from France are returning to pre-pandemic levels this year. Throughout January-September 2021, France’s supplies abroad reached $9.56B, increasing by +43% compared to the same period of 2020. Last year, the Covid-crisis hit the French wine trade, reducing exports by -9% y-o-y (based on USD values). Germany, the UK and the U.S. remain the major foreign buyers, accounting for 42% of total wine exports from France. The average wine export price dropped by -5.5% y-o-y to $7,026 per tonne in 2020.

France’s Wine Exports by Country

From January to September 2021, France’s wine exports totaled $9.56B, exceeding by +43% the value of the same period in 2020. Last year, wine exports contracted to $10B (IndexBox estimates), dropping by -9% y-o-y. In physical terms, wine exports from France fell slightly to 1.4M tonnes, declining by -3.8% on the previous year’s figure.

Germany (232K tonnes), the UK (204K tonnes) and the U.S. (161K tonnes) were the main destinations of wine exports from France, with a combined 42% share of total exports. Belgium, the Netherlands, China, Canada, Japan, Sweden, Switzerland and Poland lagged somewhat behind, accounting for a further 40%. Switzerland (+63.7% y-o-y) recorded the highest increase in purchases as compared to other countries.

In value terms, the largest markets for wine exported from France were the U.S. ($1.6B), the UK ($1.3B) and Germany ($832M), with a combined 38% share of total exports. These countries were followed by Belgium, Japan, China, Switzerland, Canada, the Netherlands, Sweden and Poland, which accounted for a further 33%.

In 2020, the average wine export price amounted to $7,026 per tonne, dropping by -5.5% against the previous year. Prices varied noticeably by the country of destination; the country with the highest price was Switzerland ($10,788 per tonne), while the average price for exports to Poland ($3,149 per tonne) was amongst the lowest. Last year, the most notable growth rate in terms of prices was recorded for supplies to China, while the prices for the other major destinations experienced more modest paces of growth.

Source: IndexBox Platform

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Emerging Demand from Solar Battery Industry to Drive Global Cadmium Market

December 16th, 2021 IndexBox Leave a comment

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

The global cadmium market is estimated at $122M for 2020. While the battery industry is currently the primary application for cadmium, the expanding demand from the cadmium telluride battery industry could provide a powerful boost to the market for the metal. Technological improvements and the introduction of new capacities for recycling solar cells will become an urgent need for the next decade and an attractive area for investment.

Key Trends and Insights

The global market for untreated cadmium, according to estimates by IndexBox, amounted to $122M in 2020. China (39%), India (22%) and Australia (4%) lead global cadmium consumption.

Most of the cadmium consumption in the world is used for producing batteries. The rapidly growing battery industry will remain the main driver of expansion for the cadmium market. The innovative nickel-cadmium battery is superior to its lead-acid counterpart in terms of service life. It is also lighter and can be recharged with the same systems commonly used for lead-acid car batteries. Intense competition from lithium-ion batteries remains the primary limiting factor to the rapid growth of the nickel-cadmium battery market.

The use of cadmium as a component of semiconductors for solar cells is likely to become a powerful stimulus for market development. In 2020, telluride-cadmium batteries quickly gained popularity and became the most frequently used among other kinds of solar cells. This modification of flexible batteries is characterized by low cost and high efficiency of 20-22% and a low temperature coefficient, which makes them suitable for mass use in countries with hot climates. In 2020, two new large-scale production facilities of telluride-cadmium batteries with a total capacity of 1.9 GW per year was launched in the U.S. in the state of Ohio.

The expansion of the cadmium-based solar cell industry could lead to increased investment in creating recycling and disposal facilities. If today 99% of cadmium is extracted from nickel-cadmium batteries for subsequent use, then the technology for processing solar batteries has not yet received sufficient development. According to a report jointly prepared by the International Renewable Energy Agency (IRENA) and the International Energy Agency Photovoltaic Power Systems Program (IEA-PVPS), global PV panel waste will reach 8M tons by 2030 and will increase to 78M tons by 2050.

Сadmium use in paint pigments, alloys, anti-corrosion coatings and PVC stabilizers stand out among other dynamically developing application areas. The latest development that could expand cadmium consumption is the production of ultra-precise clocks with a cadmium-based optical lattice, capable of operating at room temperature, in contrast to the currently widely used clocks that could expand cadmium consumption use cryogenic cooling.

Global Cadmium Production

In 2020, global cadmium production declined slightly to 34K tonnes, remaining constant against the previous year. The total output volume increased at an average annual rate of +1.8% from 2010 to 2020. In value terms, cadmium production fell to $92M in 2020, estimated at export prices.

The countries with the highest volumes of cadmium production in 2020 were China (10K tonnes), South Korea (5.2K tonnes) and Canada (2.4K tonnes), together accounting for 53% of global production. These countries were followed by Russia, Japan, the Netherlands, Australia, Kazakhstan, Mexico, France, Peru, Poland and the U.S., which together accounted for a further 37%.

Global Cadmium Exports

In 2020, after three years of decline, there was significant growth in shipments abroad of cadmium, when their volume increased by +9% to 16K tonnes. In value terms, cadmium exports fell to $35M (IndexBox estimates) in 2020.

In 2020, South Korea (4.1K tonnes), distantly followed by China (2.2K tonnes), Canada (1.6K tonnes), Japan (1.5K tonnes), France (0.9K tonnes) and Russia (0.7K tonnes) were the largest exporters of cadmium, together constituting 70% of total exports. Mexico (618 tonnes), Germany (526 tonnes), Poland (519 tonnes), the Netherlands (510 tonnes), Kazakhstan (477 tonnes), Uzbekistan (466 tonnes) and Peru (360 tonnes) held a relatively small share of total exports.

In value terms, South Korea ($9M), China ($5.9M) and Canada ($4.1M) appeared to be the countries with the highest levels of exports in 2020, with a combined 54% share of global exports.

China recorded the highest rates of growth with regard to the value of exports over the past decade. From 2010 to 2020, China’s exports rose from $1.2M to $5.9M.

In 2020, the average cadmium export price amounted to $2,219 per tonne, falling by -14.9% 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 China ($2,711 per tonne), while Kazakhstan ($1,605 per tonne) was amongst the lowest. From 2010 to 2020, the most notable rate of growth in terms of prices was attained by Uzbekistan, while the other global leaders experienced a decline in the export price figures.

Source: IndexBox Platform

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U.S. Athletic Footwear Imports Grew Sixfold to $3.2B in the Past Decade

December 15th, 2021 IndexBox Leave a comment

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

In the past decade, athletic footwear imports into the U.S. increased sixfold, from $531M to $3.2B. Viet Nam, China and Indonesia constitute the key athletic footwear exporters to the U.S., supplying 94% of the American imports. In value terms, Indonesia recorded the highest growth rate of exports to the U.S. among the largest suppliers. The average athletic footwear import price rose at an average annual rate of +1.6% over the last decade.

American Athletic Footwear Imports by Country

In the past decade, the U.S. ramped up its athletic footwear imports from 39M pairs in 2010 to 201M pairs in 2020. In value terms, imports recorded a sixfold increase, rising from $531M to $3.2B.

However, overseas athletic footwear purchases decreased by -28.2% y-o-y to 201M pairs in 2020, falling for the second consecutive year after four years of growth. In value terms, athletic footwear imports declined remarkably from $4.3B in 2019 to $3.2B (IndexBox estimates) last year.

Viet Nam (106M pairs), China (57M pairs) and Indonesia (26M pairs) were the main suppliers of athletic footwear imports to the U.S., together accounting for 94% of total imports. These countries were followed by Cambodia, which accounted for a further 4.4%.

In value terms, Viet Nam ($1.9B) constituted the largest supplier of athletic footwear to the U.S., comprising 58% of total imports. The second position in the ranking was occupied by China ($804M), with a 25% share of the total imports, and it was followed by Indonesia, with a 13% share.

From 2010 to 2020, the average annual growth rate of value from Viet Nam stood at +28.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+8.9% per year) and Indonesia (+32.7% per year).

In 2020, the average athletic footwear import price amounted to $16 per pair, growing by +5.1% against the previous year. Import price indicated a modest expansion from 2010 to 2020: it increased at an average annual rate of +1.6% over the last decade. There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was Viet Nam ($18 per pair), while the price for Cambodia ($6.8 per pair) was amongst the lowest. In 2020, the most notable rate of growth in terms of prices was attained by Indonesia, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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China Strengthens Leadership in Global Ketone and Quinone Trade

December 14th, 2021 IndexBox Leave a comment

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

China leads in global ketone and quinone exports, with a 12%-share of the total volume. In 2020, China supplied abroad 317K tonnes of ketones and quinones worth $1.4B. South Korea, India and Indonesia consume 44% of China’s ketone and quinone exports. In 2020, the average price for ketones and quinones exported from China reduced by -6.9% y-o-y to $4,371 per tonne.

China’s Ketone and Quinone Exports by Country

China leads in global ketone and quinone exports, accounting for 12% of the total volume in 2020. In value terms, the Chinese share in global exports keeps on growing steadily. From 2010 to 2020, the Chinese share in global export value increased from 12% to 26%.

In 2020, ketone and quinone exports from China expanded rapidly to 317K tonnes, with an increase of +10% in 2019. Overall, total exports indicated a strong increase from 2010 to 2020: its volume increased at an average annual rate of +8.0% over the last decade.

In value terms, ketone and quinone exports rose slightly to $1.4B (IndexBox estimates) in 2020. Over the period under review, total exports indicated a resilient increase from 2010 to 2020: its value increased at an average annual rate of +8.0% over the last decade.

South Korea (70K tonnes), India (36K tonnes) and Indonesia (34K tonnes) were the main destinations of ketone and quinone exports from China, with a combined 44% share of total exports. These countries were followed by Viet Nam, Taiwan (Chinese), the U.S., the Netherlands, Japan, Thailand, Singapore, Germany, Brazil and the Philippines, which together accounted for a further 36%.

In value terms, the largest markets for ketone and quinone exported from China were the U.S. ($278M), India ($217M) and South Korea ($105M), with a combined 43% share of total exports. Japan, Germany, the Netherlands, Indonesia, Taiwan (Chinese), Brazil, Singapore, Viet Nam, Thailand and the Philippines lagged somewhat behind, together accounting for a further 33%. In 2020, Viet Nam (+31% per year) saw the highest rates of growth with regard to the value of exports.

In 2020, the average ketone and quinone export price amounted to $4,371 per tonne, dropping by -6.9% against the previous year. Prices varied noticeably by the country of destination; the country with the highest price was the U.S., while the average price for exports to Viet Nam was amongst the lowest. In 2020, the most notable rate of growth in terms of prices was recorded for supplies to the U.S., while the prices for the other major destinations experienced more modest paces of growth.

Source: IndexBox Platform

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Indonesia Sharply Expands Ferroalloy Exports to China

December 13th, 2021 IndexBox Leave a comment

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

Indonesia sharply increased ferroalloy exports due to booming demand from its major trade partner, China. The supplies to China grew nearly twofold, while the total exports from Indonesia spiked from 1.6M tonnes in 2019 to 2.9M tonnes in 2020. In value terms, China’s purchases comprise 96% of total ferroalloy exports from Indonesia.

Ferroalloy Exports from Indonesia

Ferroalloy exports from Indonesia surged from 1.6M tonnes in 2019 to 2.9M tonnes in 2020. In value terms, ferroalloy exports jumped from $2.6B to $4.7B (IndexBox estimates) last year.

China (2.8M tonnes) was the main destination for ferroalloy exports from Indonesia, with a 97% share of total exports. In 2020, the supplies to China grew by +97.3% y-o-y. India (56K tonnes) followed China, accounting for 1.9% of Indonesian exports.

In value terms, China ($4.5B) remains the key foreign market for ferroalloy exports from Indonesia, comprising 96% of total exports. The second position in the ranking was occupied by India ($129M), with a 2.7% share of total exports.

The average ferroalloy export price stood at $1,648 per tonne in 2020, remaining relatively unchanged against the previous year. Average prices varied somewhat for the major external markets. In 2020, the country with the highest price was India ($2,292 per tonne), while the average price for exports to China totaled $1,635 per tonne. In 2020, the most notable rate of growth in terms of prices was recorded for supplies to India.

Source: IndexBox Platform

Turkey Prices in the U.S. Keep Soaring Due to Strong Demand and Labor Shortages

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