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Ukrainian Sunflower Oilcake Suppliers Enjoy Surging Demand in China

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Ukrainian Sunflower Oilcake Suppliers Enjoy Surging Demand in China

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

Over the last year, China increased its sunflower oilcake imports from 1.4M tonnes to 2.2M tonnes. In value terms, the imports skyrocketed by +51.3% y-o-y to $588M. Ukraine dominates Chinese sunflower oilcake imports, with a 97%-share of the total volume. The supplies from Ukraine gained $170M last year. The average sunflower oilcake import price in China fell by -3.5% y-o-y to $269 per tonne in 2020.

Chinese Sunflower Oilcake Imports by Country

In 2020, approx. 2.2M tonnes of sunflower oilcake were imported into China, picking up by +51% against 2019. In value terms, sunflower oilcake imports surged by +51.3% y-o-y to $588M (IndexBox estimates) in 2020.

In 2020, Ukraine (2.1M tonnes) was China’s main sunflower oilcake supplier, accounting for a 97% share of total imports. It was followed by Bulgaria (50K tonnes), with a 2.3% share of total imports.

In value terms, Ukraine ($571M) constituted the largest supplier of sunflower oilcake to China, comprising 97% of total imports. The second position in the ranking was occupied by Bulgaria ($13M), with a 2.2% share of total imports. In 2020, the average annual rate of growth in terms of value from Ukraine totalled +42.2%.

In 2020, the average sunflower oilcake import price amounted to $269 per tonne, reducing by -3.5% against the previous year. Average prices varied noticeably amongst the major supplying countries. In 2020, the country with the highest price was Ukraine ($270 per tonne), while the price for Bulgaria amounted to $262 per tonne. In 2020, the most notable rate of growth in terms of prices was attained by Bulgaria.

Source: IndexBox Platform

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The UK Ramps Up Imports of Stuffed Pasta and Couscous

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IndexBox has just published a new report: ‘United Kingdom – Stuffed Pasta And Couscous – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

UK imports of stuffed pasta and couscous grew by +15.8% y-o-y to $525M last year. Italy, China and France provide approximately 77% of the total volume imported into the UK. All these countries have significantly expanded their exports of stuffed pasta and couscous to the UK. Germany emerged as the fastest-growing supplier in terms of import value in 2020.

UK Imports of Stuffed Pasta and Couscous

In 2020, approx. 316K tonnes of stuffed pasta and couscous were imported into the UK, growing by +16% on the previous year. In value terms, pasta and couscous imports soared by +15.8% y-o-y to $525M (IndexBox estimates) in 2020.

In 2020, Italy (209K tonnes) constituted the largest supplier of pasta and couscous to the UK, with a 66% share of total imports. Moreover, pasta and couscous imports from Italy exceeded the figures recorded by the second-largest supplier, China (22K tonnes), tenfold. France (14K tonnes) ranked third in terms of total imports with a 4.3% share.

In value terms, Italy ($266M) constituted the largest supplier of pasta and couscous to the UK, comprising 51% of total imports. The second position in the ranking was occupied by China ($42M), with an 8% share of total imports, and it was followed by Germany, with a 7.7% share.

In 2020, the average annual growth rate of value from Italy totalled +18.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+7.0% per year) and Germany (+23.0% per year). Germany emerged as the fastest-growing exporter of stuffed pasta and couscous to the UK.

In 2020, the average pasta and couscous import price amounted to $1,664 per tonne, therefore, remained relatively stable against the previous year. Prices varied noticeably by the country of origin; the country with the highest price was South Korea ($3,819 per tonne), while the price for Italy ($1,271 per tonne) was amongst the lowest. In 2020, the most notable rate of growth in terms of prices was attained by Germany, while the prices for the other significant suppliers experienced more modest paces of growth.

Source: IndexBox Platform

rug imports
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Turkey, India and Vietnam Benefit from Rising American Carpet and Rug Imports

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IndexBox has just published a new report: ‘U.S. Carpet And Rug Market. Analysis And Forecast to 2025’. Here is a summary of the report’s key findings.

Last year, the U.S. ramped up imports of carpets and rugs by +11% to 796K tonnes. In value terms, imports reached $2.9B. Turkish, Indian and Chinese supplies comprise approximately 79% of American carpet and rug imports. In 2020, most of the import increment was provided by boosting purchases from Turkey, India, Egypt and Vietnam. Vietnam became the fastest-growing exporter of carpets and rugs to the U.S.

American Carpet and Rug Imports by Country

In 2020, carpet and rug imports into the U.S. expanded rapidly to 796K tonnes, surging by +11% compared with 2019 figures. In value terms, carpet and rug imports rose by +1.9% y-o-y to $2.9B (IndexBox estimates) in 2020.

Turkey (275K tonnes), India (224K tonnes) and China (127K tonnes) were the main suppliers of carpets and rugs to the U.S., together accounting for 79% of total imports. Egypt, Vietnam, Canada and Mexico lagged somewhat behind, together comprising a further 14%.

In 2020, supplies from Turkey (+71K tonnes), India (+15K tonnes), Egypt (+10K tonnes) and Vietnam (+20K tonnes) increased significantly. Vietnam recorded the highest growth rate of the volume of imports, expanding supplies to the U.S. from 12K tonnes to 32K tonnes last year.

In value terms, India ($904M), Turkey ($899M) and China ($377M) were the largest carpet and rug suppliers to the U.S., with a combined 75% share of total imports. These countries were followed by Egypt, Vietnam, Mexico and Canada, which together accounted for a further 12%.

Source: IndexBox Platform

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China’s Polystyrene Production Expansion to Be Delayed Amid Energy Crisis

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

In 2021-2022, China plans to add a new production capacity for styrene and polystyrenes. This could turn China from the world’s largest importer of those products into an exporter. Completion may be delayed due to electricity disruptions caused by increasing energy prices and regulations to reduce CO2 emissions. Despite the ban on single-use packaging, consumption of polystyrene in China will steadfastly grow, driven by a high demand for plastics in the construction, automotive and other industries.

Key Trends and Insights

China is the largest consumer and importer of polystyrene in the world. In 2020, the country imported 1,36M tonnes of primary polystyrene (nearly 20% of overall global imports) worth $1,43B.

According to industry publications, in 2021-2022 new factories for polystyrene and ABS plastics are expected to launch with a combined capacity of over 3.5M tonnes, including new facilities for the companies Sinopec Gulei, Zhejiang Petrochemical и Shandong Lihuaya. If these projects are completed, China may turn from a styrene importer into an exporter as the new capacity would surpass 2.8M tonnes or the current level imports (IndexBox estimates).

The energy crisis in China could delay the completion of these projects. Beijing’s environmental protection policies have led the provinces to limit energy consumption to stay within yearly quotas. They are also diminishing manufacturing operations, including at chemical factories that use coal for power generation. To decrease greenhouse gas emissions, China must limit coal usage, but this will cause costs to increase for energy-intensive production methods.

Despite the ban on single-use polystyrene tableware and packaging in China, demand for this polymer will consistently rise. The majority of the product is used for producing Styrene-butadiene, ABS and other forms of plastics for the construction, electronics and automobile industries. Rapid developments in these sectors will drive demand for polystyrene.

China’s Imports of Polystyrene in Primary Forms

In 2020, imports of polystyrene in primary forms into China expanded to 1.4M tonnes, increasing by +3.8% on the previous year’s figure. In value terms, polystyrene imports dropped from $1.6B in 2019 to $1.4B (IndexBox estimates) in 2020.

Taiwan (Chinese) (311K tonnes), Malaysia (204K tonnes) and Hong Kong SAR (177K tonnes) were the leading suppliers of polystyrene imports to China, together accounting for 51% of total imports. South Korea, Singapore, Japan, Iran and Thailand lagged somewhat behind, together accounting for a further 36%.

In 2020, the most notable rate of growth in terms of purchases amongst the leading suppliers was attained by Iran (+71.3% per year), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest polystyrene suppliers to China were Taiwan (Chinese) ($369M), Hong Kong SAR ($209M) and Malaysia ($175M), together accounting for 52% of total imports. These countries were followed by South Korea, Japan, Singapore, Thailand and Iran, which together accounted for a further 35%.

The average polystyrene import price stood at $1,055 per tonne in 2020, waning by -13.1% against the previous year. Average prices varied somewhat amongst the major supplying countries. In 2020, the highest prices were recorded for prices from Taiwan ($1,186 per tonne) and Japan ($1,180 per tonne), while the price for Malaysia ($856 per tonne) and Iran ($863 per tonne) were amongst the lowest. In 2020, the most notable rate of growth in terms of prices was attained by Hong Kong SAR, while the prices for the other significant suppliers experienced a decline.

Source: IndexBox Platform

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Belgium Sharply Increases Imports of Additives for Lubricating Oils

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

In 2020, Belgium’s imports of additives for lubricating oils rose substantially from 88K tonnes in 2019 to 145K tonnes in 2020. In value terms, imports grew to $436M. France, Italy and the U.S. dominate the Belgium’s imports, with a combined 80%-share of the total volume. All these countries ramped up their exports to Belgium significantly last year. The average import price of additives for lubricating oils dropped by -17.1% y-o-y to $3,018 per tonne.

Belgium’s Imports of Additives for Lubricating Oils

In 2020, approx. 145K tonnes of additives for lubricating oils were imported into Belgium, growing by +64% on 2019 figures. In value terms, additives for lubricating oils imports increased by +64.0% y-o-y to $436M (IndexBox estimates) in 2020.

In 2020, France (68K tonnes) constituted Belgium’s largest supplier of additives for lubricating oils, with a 47% share of total imports. Moreover, imports from France exceeded the figures recorded by the second-largest supplier, Italy (31K tonnes), twofold. The U.S. (17K tonnes) ranked third in total imports with a 12% share.

In 2020, imports from France rose by +37% y-o-y. Italy ramped its exports to Belgium by +81% y-o-y, while the U.S. increased the supplies fivefold.

In value terms, France ($195M), Italy ($109M) and the U.S. ($58M) were the largest suppliers to Belgium, with a combined 83% share of total imports. These countries were followed by the Netherlands, Germany, the UK and Mexico, which together accounted for a further 15%.

In 2020, the average import price for additives for lubricating oils amounted to $3,018 per tonne, declining by -17.1% against the previous year. Prices varied noticeably by the country of origin; the country with the highest price was Italy ($3,490 per tonne), while the price for the UK ($1,904 per tonne) was amongst the lowest. In 2020, the Netherlands attained the most notable price growth rate, while the prices for the other significant suppliers experienced a decline.

Source: IndexBox Platform

acetic acid
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India’s Acetic Acid Imports Doubled in the Past Decade

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

In the past decade, India doubled acetic acid imports in physical terms. In 2020, they grew by +7.7% y-o-y to 953K tonnes. Malaysia, Singapore and China constitute the most significant suppliers, accounting for 70% of India’s acetic acid imports. Taiwan featured the highest growth rate of exports to India in 2020. Last year, the average acetic acid import price dropped by -22.9% y-o-y to $349 per tonne.

India’s Acetic Acid Imports by Country

India’s acetic acid imports increased twofold, from 457K tonnes in 2010 to 953K tonnes in 2020. In 2020, imports grew by +7.7% on the previous year’s figure. In 2020, imports grew by +7.7% on the previous year’s figure. In value terms, acetic acid imports dropped notably from $401M in 2019 to $333M (IndexBox estimates) in 2020.

Malaysia (294K tonnes), Singapore (220K tonnes) and China (153K tonnes) were the leading suppliers of acetic acid imports to India, with a combined 70% share of total imports. These countries were followed by Taiwan (Chinese), Saudi Arabia, Iran and South Korea, which together accounted for a further 28%.

Taiwan saw the highest growth rate of export volume among the key exporters. Indian imports from Taiwan rose from $50M in 2019 to $136M in 2020.

In value terms, the largest acetic acid suppliers to India were Malaysia ($104M), Singapore ($79M) and China ($53M), together comprising 71% of total imports. These countries were followed by Taiwan (Chinese), Saudi Arabia, Iran and South Korea, which together accounted for a further 27%.

The average acetic acid import price stood at $349 per tonne in 2020, waning by -22.9% against the previous year. Average prices varied noticeably amongst the major supplying countries. In 2020, the highest prices were recorded for prices from Singapore ($358 per tonne) and South Korea ($355 per tonne), while the price for Iran ($326 per tonne) and Saudi Arabia ($337 per tonne) were amongst the lowest. In 2020, the most notable rate of growth in terms of prices was attained by China, while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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China Dislodges Malaysia from American Microwave Oven Supply Chains

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

Despite global logistical tensions amid the sharp container shortage, the U.S. continues to boosts microwave oven imports. Last year, American purchases spiked by +16.3% to $1.6B, reaching the highest level ever. In the first seven months of 2021, American imports reached 12.9M units, exceeding last year’s 12.1M units over the same period. China dominates American imports, supplying 95% of the total volume. In 2020, Chinese shipments to the U.S. jumped by +29% y-o-y to 22M units, while Malaysia saw a 19%-decline in supplies. Chinese microwave ovens thus drive out Malaysian products from the American market. 

American Microwave Oven Imports

In 2020, microwave oven imports into the U.S. surged to 23M units, increasing by +25% against the previous year’s figure. In value terms, microwave oven imports rose by +16.3% y-o-y to $1.6B (IndexBox estimates) in 2020. In the first seven months of 2021, American purchases reached 12.9M units against 12.1M units imported over the same period of 2020.

In 2020, China (22M units) was the main microwave oven supplier to the U.S., with a 95% share of total imports. Moreover, microwave oven imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (1.2M units), more than tenfold.

In physical terms, Chinese supplies rose by +29% y-o-y in 2020. This year, imports from China continue to grow: over the first seven months of 2021, Chinese import volume reached 12.2M units, exceeding by +6.7% the figures of the same period of 2020.

Imports from Malaysia fell by -18% y-o-y last year. In the first half of 2021, Malaysian supplies tended to decline.

In value terms, China ($1.5B) constituted the largest supplier of microwave ovens to the U.S., comprising 89% of total imports. The second position in the ranking was occupied by Malaysia ($156M), with a 9.5% share of total imports.

In 2020, the average microwave oven import price amounted to $70 per unit, shrinking by -6.9% against the previous year. There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was Malaysia ($132 per unit), while the price for China stood at $66 per unit. In 2020, the most notable rate of growth in terms of prices was attained by Malaysia.

Source: IndexBox Platform

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India Emerges as Third-Largest Aluminum Supplier to China

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

Last year, China’s aluminum imports skyrocketed from $511M to $3.8B. Malaysia, Russia and India became the largest aluminum suppliers, with a combined 52%-share of China’s imports. Over the last year, the imports from Russia rose thirteen times, while the purchases from Malaysia increased nearly fivefold. India emerged as the third top supplier, moving from the seventh place it held in the previous year. In 2020, the average aluminum import price dropped by -6.2% y-o-y to $1,659 per tonne.

China’s Aluminum Imports by Country 

In 2020, the amount of aluminum imported into China jumped from 0.3M tonnes in 2019 to 2.3M tonnes. In value terms, aluminum imports surged from $511M to $3.8B (IndexBox estimates) in 2020.

Malaysia (422K tonnes), Russia (413K tonnes) and India (362K tonnes) were the main suppliers of aluminum imports to China, together accounting for 52% of total imports. South Korea, the United Arab Emirates, Indonesia, Viet Nam, Italy, Thailand and Australia lagged somewhat behind, together comprising a further 32%.

In value terms, Russia ($737M), Malaysia ($657M) and India ($638M) were the largest aluminum suppliers to China, together accounting for 53% of total imports. South Korea, the United Arab Emirates, Indonesia, Viet Nam, Thailand, Italy and Australia lagged somewhat behind, together accounting for a further 30%.

Over the last year, the supplies from Russia increased thirteen times, from $56M to $737M. Imports from Malaysia grew nearly fivefold. India boosted its aluminum exports from $25M to $638M, moving from the seventh place in the largest supplier ranking to the top-three.

In 2020, the average aluminum import price amounted to $1,659 per tonne, which is down by -6.2% against the previous year. Average prices varied somewhat amongst the major supplying countries. In 2020, the highest prices were recorded for prices from Australia ($1,800 per tonne) and Russia ($1,785 per tonne), while the price for Italy ($1,400 per tonne) and Thailand ($1,486 per tonne) were amongst the lowest. In 2020, the most notable rate of growth in terms of prices was attained by Thailand, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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Germany’s Candle and Taper Imports to Hit Record High this Year

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

Germany is rapidly increasing its imports of candles and tapers. In the first seven months of 2021, Germany imported 84K tonnes of candles worth $230M. These figures exceed the last year’s 67K tonnes worth $163M imported over the same period. Poland remains the prime trade partner, supplying 58% of candle and taper volume imported to Germany in 2020. In physical terms, German purchases from Poland grew by +7.0% y-o-y last year.

Germany’s Candle and Taper Imports

In the first seven months of 2021, Germany purchased abroad 84K tonnes of candles, exceeding by 25% the last year volume of the same period. In value terms, Germany’s imports grew by +41%, reaching $230M.

As of 2020, candle and taper imports into Germany rose modestly to 171K tonnes in 2020, increasing by +4.3% against the previous year’s figure. In value terms, they grew by +5.2% y-o-y to $429M (IndexBox estimates) in 2020.

Poland (100K tonnes) constituted the largest candles and tapers supplier Germany’slast year, with a 58% share of total imports. Moreover, candles and tapers imports from Poland exceeded the figures recorded by the second-largest supplier, the Netherlands (23K tonnes), fourfold. China (16K tonnes) ranked third in terms of total imports with a 9.4% share.

In 2020, the average annual growth rate in volume from Poland stood at +7.0%. The remaining supplying countries recorded the following average annual imports growth rates: the Netherlands (+3.0% per year) and China (+1.2% per year).

In value terms, Poland ($199M) constituted the largest supplier of candles and tapers to Germany, comprising 46% of total imports. The second position in the ranking was occupied by China ($47M), with an 11% share of total imports, and it was followed by the Netherlands, with an 11% share.

The average candle and taper import price stood at $2,504 per tonne in 2020, approximately equating to the previous year. Average prices varied somewhat amongst the major supplying countries. In 2020, the countries with the highest prices were China ($2,875 per tonne) and Belgium ($2,450 per tonne), while the price for Poland ($1,990 per tonne) and the Netherlands ($2,008 per tonne) were amongst the lowest. In 2020, the most notable rate of growth in terms of prices was attained by Portugal, while the prices for the other significant suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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U.S. Diamond Prices Jump Up Amid Acute Demand and Lack of Supply 

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

U.S. diamond prices continue to rise due to the demand remains solid while product supply is limited. Jewelry sales in the U.S. keep robust, but global diamond mining and cutting remain low compared to pre-pandemic levels, primarily due to the problematic epidemiological situation in India. The return of work at Indian processing plants should help increase supply in the global diamond market and limit the rise in product prices. The recovery in American tourism activity could lead to a decline in demand for jewelry and constrain the price growth.

Key Trends and Insights

According to Fairfield County Diamonds, diamond prices continue to rise. In September 2021, they grew by an average of 0.9% from August 2021. The average price per carat for all diamonds was $11,139.53, up from $11,039.49 a month prior.

The increase in diamond prices was driven by strong demand for jewelry in the U.S. and China set against limited supply as diamond mining and cutting remain low. In the first quarter, global production of rough diamonds fell by 22% to 24 million carats due to mine suspension at the Canadian Ekati diamond mine, the closure of Australia’s Argyle mine, and the decrease in activity at other large mining companies.

American demand for jewelry remains strong this year. According to a report from Mastercard’s ‘Spending Pulse’, US jewelry sales in July 2021 were +82.6% higher than the same period in 2020 and +54.2% higher than those of July 2019.

The positive financial gains for global gem producers confirm the high demand for diamonds. Rough diamond sales from the world’s leading supplier in the jewelry industry, De Beers Group, amounted to $3.5B in 2021 and exceeded sales from 2020 ($2.8B). Sales of rough diamonds from the Russian diamond producer Alrosa, in the first half of 2021 amounted to 15.5 million carats, which is 65% higher than last year and 47% higher than Q1 of 2019.

Along with the jump in the incidence of Covid-19, India introduced quarantine restrictions, which led to a drop in factory utilization down to 50-70%, an outflow of migrant workers, and a decrease in the volume of diamond cutting and polishing operations. As the incidence rate has declined since mid-2021, there has been a return to operations and an increase in diamond exports from India. According to the Gem & Jewelry Export Promotion Council (GJEPC), the total gross diamond export in July 2021 was $2.26B, which is up 146% compared to the previous year.

The recovery of large supplies of cut diamonds from India should help limit the rise in prices for the product. An additional factor for prices lowering in the medium term is the gradual recovery of tourist activity, which will contribute to the shift of the population’s spending away from the jewelry sector and toward tourism and the entertainment industry.

Non-Industrial Diamond Production

In 2020, approx. 74M carats of non-industrial diamonds were produced worldwide, reducing by -10.6% against the previous year’s figure.

The countries with the highest volumes of non-industrial diamond production in 2020 were Russia (24M carats), Canada (17M carats) and Botswana (13M carats), with a combined 65% share of global production. Angola, South Africa, Congo and Namibia lagged somewhat behind, together accounting for a further 35%.

In 2020, the most notable rate of growth in terms of non-industrial diamond production amongst the significant producing countries was attained by Congo, while non-industrial diamond production for the other global leaders experienced a decline in the production figures.

World’s Largest Non-Industrial Diamond Importers

In value terms, non-industrial diamond imports reduced from $108.2B in 2019 to $67.9B (IndexBox estimates) in 2020.

China ($5.9B) constitutes the largest market for imported non-industrial diamonds worldwide, comprising 8.8% of global imports. The second position in the ranking was occupied by Thailand ($1.3B), with a 1.9% share of global imports.

In 2020, the value of Chinses imports dropped by -24.3% y-o-y.

World’s Largest Non-Industrial Diamond Exporters

In value terms, Belgium ($8.2B) remains the largest non-industrial diamond supplier worldwide, comprising 13% of global exports. The second position in the ranking was occupied by China ($1.1B), with a 1.8% share of global exports.

In 2020, the average annual rate of growth in terms of value in Belgium totaled -29.5%. In the other countries, the average annual rates were as follows: China (-34.3% per year) and Thailand (-33.6% per year).

Source: IndexBox Platform