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Peeling Away Trade Protections for Bananas

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Peeling Away Trade Protections for Bananas

Simple in appearance, pleasantly sweet, nutritious, and nearly universal in appeal, that Cavendish bunch of bananas on your counter comes off as pretty unassuming. In reality, it has been through jungle wars and trade wars and now sits on the precipice of extinction. More than half of the bananas traded globally are the Cavendish variety. But with two diseases threatening the world’s largest Cavendish plantations, growing to love more varieties could help save trade in bananas.

Still an Important Cash Crop

Grown in more than 150 countries, bananas are the eighth most important food crop in the world – fourth most important in developing countries. Bananas are among the most traded fruit in the world, generating revenues of more than $8 billion a year for the top banana exporters including Ecuador, the Philippines, Costa Rica, Colombia and Guatemala. However, most are produced for local or national consumption.

For example, the Food and Agriculture Organization estimates that between 70 and 80 percent of bananas in Africa are produced by smallholder farmers. Around 114 million tons are produced globally beyond what isn’t too small to be counted, yet only 19 million tons were shipped globally. That said, for the top five exporters, bananas are a major contributor to the total value of their agricultural exports. India and China are among the biggest producers but their output mainly serves the large domestic markets.

global bananas trade

Peeling Away Trade Protections

The Banana Wars, centered on the European Union’s (EU) banana trade regime, spanned 20 years as the longest running series of disputes in the multilateral trading system to date (although the Boeing-Airbus dispute may be on track to take that title). As one of the most significant episodes in trade law, the Banana Wars are deserving of more attention, but here are some abridged highlights.

Europe’s banana regime began as an umbrella for complex arrangements at the individual EU Member State level that were designed to offer exclusive or preferential access to former colonies in Africa, Caribbean and the Pacific (ACP), and at the same time shield EU producers from competition.

Under the EU’s original regime, ACP countries received a zero-tariff rate while imports from other countries were taxed at 20 percent. However, each Member State was allowed to “derogate” and maintain special protective provisions for imports from their overseas departments. For example, France set aside two-thirds of its market for Guadeloupe and Martinique and the remaining third for the ACP Franc Zone states of Cameroon and Cote d’Ivoire. The Spanish market was reserved for shipments from the Canary Islands. Greece banned imports to protect its own production in Crete. Only Germany opened to free trade.

The Single European Act of 1986 mandated an integrated EU market by January 1993, which required that Member States consolidate their programs into a common regime for bananas. As devised, this version still enabled members to discriminate among imports by source, offering better terms to their overseas departments and to imports from ACP countries. Colombia, Costa Rica, Guatemala, Nicaragua and Venezuela (supported by the United States) challenged the regime as inconsistent with the EU’s obligations under the GATT.

The EU’s ability to offer tariff preferences was upheld because it had a waiver in the GATT for its general tariff preference program; but the GATT Panel found the EU’s discrimination through tariff quotas to be inconsistent with its obligations. However, prior to the WTO, a GATT member could simply veto the outcome of a panel decision, enabling the EU effectively to ignore the GATT Panel ruling.
EU banana imports

Second Banana

The EU revised its banana regime in 1993 to include new special distribution licenses under a general quota. Licenses were divvied up among primary importers and importers performing secondary activities such as customs clearance, warehousing and storage; licenses were dependent on historical performance, subject to country allocations, market share and other criteria. After yet another challenge by the five Latin American countries, a GATT Panel found in 1994 that the EU’s licensing system was excessively restrictive and not covered by its waiver.

After 1995, with the WTO’s enforceable dispute settlement system in place and additional obligations to avoid discrimination in trade in services, the EU recognized it would face more challenges to its regime. The large multinational producers involved in shipping, warehousing, ripening, marketing and distribution had an even stronger case to make. The EU negotiated with all of the disgruntled Latin American producers but Guatemala to head off the legal challenge. Having offered additional or expanded quotas, they temporarily pleased some countries but further worsened the discriminatory effect for those countries not a part of the negotiation.

A third complaint against the EU’s banana regime was reviewed in the WTO in 1996, this time with the United States as the lead plaintiff in response to complaints from Chiquita and the Hawaiian Banana Association. A WTO decision in 1997 again concluded that, although the EU’s discriminatory tariffs were covered under its historical waiver, its tariff quota allocations and convoluted import licensing administration violated its WTO obligations. The EU’s next version of its banana regime did little to remedy the discriminatory elements, which led to the imposition of tariffs by the United States and Ecuador in response to the EU’s failure to comply with the WTO ruling. By 2001, the EU made another attempt to transition its system, but not until 2006 would the EU decide to phase in a tariff-only system, dispensing with quotas.

Banana Splits

At the end of 2009, after negotiations with non-ACP producers, the EU agreed to reduce the tariff rate it applies to all WTO members. Tariffs would come down from 176 euros per ton to 114 euros per ton by January 2017 (stipulating it could revert to higher rates if exporting countries exceed a “trigger” amount of imports). It wouldn’t be until 2012, that the EU and 10 Latin American countries finalized signed an agreement in the WTO to codify the revised EU banana tariff schedule (“The Geneva Banana Agreement”), officially closing the longstanding legal disputes.

As a prologue, the EU signed trade agreements with Andean and Central American countries in 2013 and Ecuador in 2017. Ecuador has seen a large bump in global export volume as its agreement with the EU is implemented. By next year, the tariff on bananas from Ecuador to the EU will go down to 75 euros per ton with no quota on the amount eligible for this rate. As the EU continues to edge toward “freer” trade in bananas, the ACP producers will face considerable adjustment.

2009 Geneva Banana Agreement

Going Bananas

Having survived the banana trade wars, the popular Cavendish banana faces a new challenge, one that could actually wipe them out.

“Panama disease TR4” has ravaged thousands of acres of Cavendish plantations throughout Southeast Asia and Australia and is spreading to Africa and the Middle East. It can lie dormant in soil for decades and has proven resistant to fungicides and fumigants. It is only a matter of time before TR4 takes hold in Latin America, which supplies nearly the entire U.S. market. Banana plantations in the Caribbean are threatened by another disease called Black Sigatoka, which has been reducing banana yields by 40 percent every year in affected areas.

Before Cavendish was top banana, a banana called the Gros Michel (Big Mike) dominated the banana trade in the early 1900s until the fungus TR1 took it to the brink of extinction in the mid-1950s. At that time, the Cavendish variety from China was discovered to be resistant to TR1 so it replaced Mike. But bananas don’t have seeds. They breed asexually so they cannot recombine their genes to ward off threats. In other words, the Cavendish is ripe for attack because it cannot evolve – every generation is a clone of the previous.

Try Hanging with a New Bunch

If scientists don’t make a breakthrough, TR4 and TR1 could spell the end for the beloved Cavendish. With over 1,000 different varieties of bananas growing around the world, why not get to know some others that might grow more popular through trade – here are a few to get you started.

For your next dessert, try using Niño, Manzano (“apple bananas”) that have a hint of apple and strawberry flavor, or Goldfinger, a newer variety from Honduras. Intriguingly, there’s also Blue Java, named for its blue skin, which has a creamy, ice cream-like texture and purportedly offers a subtle vanilla flavor.

Cooking bananas include the Macho plantain and other fun-sounding varieties like the Burro which has squared sides and a lemon flavor when ripe, and the Rhino Horn from Africa, which can grow up to two feet long. If consumers demand it, perhaps global trade in bananas will finally branch out.

_________________________________________________________________________

Andrea Durkin is the Editor-in-Chief of TradeVistas and Founder of Sparkplug, LLC. Ms. Durkin previously served as a U.S. Government trade negotiator and has proudly taught international trade policy and negotiations for the last fourteen years as an Adjunct Professor at Georgetown University’s Master of Science in Foreign Service program.

This article originally appeared on TradeVistas.org. Republished with permission.

 

dog and cat food

EU Dog And Cat Food Market Is Set to Reach 9.6M Tonnes by 2025

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

The revenue of the dog and cat food market in the European Union amounted to $12.1B in 2018, surging by 3.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price). The market value increased at an average annual rate of +1.1% over the period from 2008 to 2018; the trend pattern remained relatively stable, with only minor fluctuations being observed over the period under review. The pace of growth appeared the most rapid in 2013 when the market value increased by 8.1% year-to-year. In that year, the dog and cat food market attained its peak level of $12.6B. From 2014 to 2018, the growth of the dog and cat food market remained at a somewhat lower figure.

Consumption By Country in the EU

The countries with the highest volumes of dog and cat food consumption in 2018 were the UK (1.5M tonnes), France (1.3M tonnes) and Germany (1.3M tonnes), together accounting for 45% of total consumption. Spain, Italy, Poland, the Netherlands, Portugal, Sweden, Belgium, Romania and Hungary lagged somewhat behind, together comprising a further 42%.

From 2008 to 2018, the most notable rate of growth in terms of dog and cat food consumption, amongst the main consuming countries, was attained by Romania, while the other leaders experienced more modest paces of growth.

In value terms, the largest dog and cat food markets in the European Union were the UK ($2.7B), France ($2.3B) and Germany ($2B), together accounting for 57% of the total market. These countries were followed by Italy, Spain, Sweden, the Netherlands, Poland, Belgium, Hungary, Portugal and Romania, which together accounted for a further 32%.

The countries with the highest levels of dog and cat food per capita consumption in 2018 were Sweden (32 kg per person), Portugal (31 kg per person) and Hungary (25 kg per person).

From 2008 to 2018, the most notable rate of growth in terms of dog and cat food per capita consumption, amongst the main consuming countries, was attained by Romania, while the other leaders experienced more modest paces of growth.

Market Forecast 2019-2025 in the EU

Driven by increasing demand for dog and cat food in the European Union, the market is expected to continue an upward consumption trend over the next seven-year period. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +1.1% for the seven-year period from 2018 to 2025, which is projected to bring the market volume to 9.6M tonnes by the end of 2025.

Production in the EU

In 2018, the production of dog and cat food in the European Union stood at 9.8M tonnes, flattening at the previous year. The total output volume increased at an average annual rate of +1.8% from 2008 to 2018; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2010 with an increase of 4.1% against the previous year. Over the period under review, dog and cat food production attained its peak figure volume at 9.8M tonnes in 2017, leveling off in the following year.

In value terms, dog and cat food production amounted to $13.1B in 2018 estimated in export prices. The total output value increased at an average annual rate of +1.4% from 2008 to 2018; the trend pattern remained relatively stable, with only minor fluctuations being recorded over the period under review. The most prominent rate of growth was recorded in 2013 when production volume increased by 13% against the previous year. In that year, dog and cat food production attained its peak level of $13.6B. From 2014 to 2018, dog and cat food production growth remained at a somewhat lower figure.

Production By Country in the EU

The countries with the highest volumes of dog and cat food production in 2018 were France (1.8M tonnes), Germany (1.4M tonnes) and the UK (1.2M tonnes), with a combined 45% share of total production. Spain, Hungary, the Netherlands, Italy and Poland lagged somewhat behind, together accounting for a further 37%.

From 2008 to 2018, the most notable rate of growth in terms of dog and cat food production, amongst the main producing countries, was attained by Poland, while the other leaders experienced more modest paces of growth.

Exports in the EU

In 2018, the amount of dog and cat food exported in the European Union amounted to 5.5M tonnes, increasing by 2.9% against the previous year. The total export volume increased at an average annual rate of +4.0% over the period from 2008 to 2018; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when exports increased by 9% against the previous year. The volume of exports peaked in 2018 and are expected to retain its growth in the near future.

In value terms, dog and cat food exports stood at $9.2B (IndexBox estimates) in 2018. The total exports indicated a strong expansion from 2008 to 2018: its value increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, dog and cat food exports increased by +29.5% against 2015 indices. The growth pace was the most rapid in 2013 with an increase of 16% year-to-year. Over the period under review, dog and cat food exports reached their maximum in 2018 and are likely to see steady growth in the immediate term.

Exports by Country

In 2018, Germany (829K tonnes), France (807K tonnes), the Netherlands (572K tonnes), Poland (527K tonnes) and Hungary (517K tonnes) were the main exporters of dog and cat food in the European Union, comprising 59% of total export. It was distantly followed by Spain (323K tonnes), Ireland (309K tonnes), the UK (272K tonnes), the Czech Republic (266K tonnes), Belgium (260K tonnes) and Italy (252K tonnes), together comprising a 31% share of total exports.

From 2008 to 2018, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by Poland, while the other leaders experienced more modest paces of growth.

In value terms, the largest dog and cat food markets in the European Union were Germany ($1.8B), France ($1.5B) and the Netherlands ($1.1B), together comprising 48% of total exports. Poland, Belgium, Hungary, the UK, the Czech Republic, Italy, Ireland and Spain lagged somewhat behind, together accounting for a further 41%.

Poland recorded the highest rates of growth with regard to exports, in terms of the main exporting countries over the last decade, while the other leaders experienced more modest paces of growth.

Export Prices by Country

The dog and cat food export price in the European Union stood at $1,668 per tonne in 2018, going up by 7.5% against the previous year. Overall, the dog and cat food export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2011 an increase of 11% against the previous year. The level of export price peaked at $1,730 per tonne in 2014; however, from 2015 to 2018, export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2018, the country with the highest price was Germany ($2,124 per tonne), while Spain ($885 per tonne) was amongst the lowest.

From 2008 to 2018, the most notable rate of growth in terms of prices was attained by the Czech Republic, while the other leaders experienced more modest paces of growth.

Imports in the EU

The imports totaled 4.6M tonnes in 2018, surging by 2.7% against the previous year. The total import volume increased at an average annual rate of +2.9% over the period from 2008 to 2018; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2012 with an increase of 8.1% y-o-y. Over the period under review, dog and cat food imports attained their peak figure in 2018 and are expected to retain its growth in the near future.

In value terms, dog and cat food imports totaled $7.7B (IndexBox estimates) in 2018. The total import value increased at an average annual rate of +3.6% from 2008 to 2018; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 when imports increased by 14% against the previous year. Over the period under review, dog and cat food imports reached their peak figure in 2018 and are likely to see steady growth in the near future.

Imports by Country

The countries with the highest levels of dog and cat food imports in 2018 were Germany (646K tonnes), the UK (528K tonnes), Belgium (392K tonnes), France (374K tonnes), Italy (342K tonnes), Poland (290K tonnes), the Netherlands (288K tonnes), Austria (251K tonnes), Spain (196K tonnes), Romania (186K tonnes) and Portugal (179K tonnes), together resulting at 79% of total import. Greece (109K tonnes) held a little share of total imports.

From 2008 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by Romania, while the other leaders experienced more modest paces of growth.

In value terms, Germany ($1.3B), the UK ($878M) and France ($638M) were the countries with the highest levels of imports in 2018, with a combined 36% share of total imports. Italy, Poland, Belgium, the Netherlands, Austria, Spain, Portugal, Romania and Greece lagged somewhat behind, together comprising a further 45%.

Among the main importing countries, Poland experienced the highest rates of growth with regard to imports, over the last decade, while the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2018, the dog and cat food import price in the European Union amounted to $1,654 per tonne, rising by 2.5% against the previous year. Overall, the dog and cat food import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2011 when the import price increased by 11% y-o-y. The level of import price peaked at $1,718 per tonne in 2014; however, from 2015 to 2018, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was Germany ($1,976 per tonne), while Romania ($874 per tonne) was amongst the lowest.

From 2008 to 2018, the most notable rate of growth in terms of prices was attained by Poland, while the other leaders experienced more modest paces of growth.

Source: IndexBox AI Platform

Goods

Is Your Supply Chain Prepared for Potential U.S. Tariffs on EU Goods?

Transatlantic tariffs came closer to reality in recent months after the United States Trade Representative (USTR) proposed tariffs on a list of products from the European Union (EU). 

Unfortunately, even if you’ve already gone through something similar with goods imported from China, the same strategy may not be effective for the tariffs on EU goods. This is due in large part to the types of proposed commodities from the EU.

The good news is there are things you can do today to adjust your import strategy to maintain compliance while insulating your company from the proposed tariffs.

Up to $25 billion worth of EU goods at stake

The USTR announcements in April and July proposed tariffs targeting up to $25 billion worth of goods. This includes items such as new aircraft and aircraft parts, foods ranging from seafood and meat to cheese and pasta, wine and whiskey, and even ceramics and cleaning chemicals. 

To date, the USTR has only provided a preliminary commodity list for the proposed U.S. tariffs on EU goods. No percentages have been announced, leaving many to wonder if the tariffs will be manageable—in the 5-10% range—or more substantial, like the 25% tariffs applied to China imports. 

On top of the tariffs, when the French Senate announced a 3% tax on revenue from digital services earned in France, President Trump threatened a counter-tax on French wine. But it’s unclear if this tax will come to fruition or fizzle out—especially since the USTR’s tariff list already includes many types of wine. 

5 key questions to insulate your supply chain

Looking for the best way to prepare your business from the potential tariff increases? Answering these key questions may help you adapt and insulate your company. 

-Do you have a plan to cover the costs? 

You may not be able to avoid paying the tariffs, but there are various strategies you may consider to help cover their costs. 

While not ideal, you could increase prices to end consumers. It may not be feasible to recover the entire cost of an added tariff, but you can at least offset a small portion of the tariff this way.

You can also adjust the cost of the goods with suppliers and manufacturers to cover a portion of the tariff. Just remember: pricing changes still need to meet the valuation regulations with U.S. Customs and Border Protection (CBP). 

-Will you need to increase your customs bond? 

The smallest customs bond an importer can hold is $50,000. That used to be enough for many importers to cover generally 10% of the duties and taxes you expect to pay CBP. 

Unfortunately, as many importers from China are learning, a 25% tariff on products can quickly exceed your bond amount. And bond insufficiency can shut down all your imports while resulting in delays and added expenses. 

To help avoid bond insufficiency, consider any increased duty amounts in advance of your next bond renewal period. And don’t wait to do this until the last minute, because raising your customs bond with your surety company can take up to four weeks. 

-Do you re-export goods brought into the U.S.? 

Duty drawback programs can’t be used by every importer. But if you can take advantage of them, they can result in big savings for your company.

In fact, you can get back 99% of certain import duties, taxes, and fees on imported goods that you re-export out of the U.S. Just be aware that you still need to pay the duties up front. And you might need to wait up to two years to get your refund. 

-Are your product classifications current and accurate?

With potential tariffs looming, consider reviewing your product classifications and make sure they’re accurate. If you find an issue, discuss it with your broker or customs counsel to discuss how you can properly rectify the issue, and avoid penalties from doing it incorrectly.

And while we’re on the topic of product classifications, never change them to evade tariffs. CBP will be on the lookout for this kind of activity, and the penalties for noncompliance can be steep.

-Do you have the support you need?

Changing your customs brokers may not sound appealing, but ensuring they provide all the services you need to stay compliant should be your top priority when working with them.

Your provider should help make sure you pay the appropriate duty rates for your products. And they should have people and services available globally to support your freight wherever it is located throughout the world. 

Also, consider simplifying your support by working with one provider that offers not only customs brokerage and trade compliance services but also global ocean and air freight logistics services. 

If you only employ one strategy…

Discuss your import strategy with your customs attorney or customs compliance expert. Bringing in specialized expertise is the most effective way to analyze how these tariffs could affect your products, your supply chain, and your business. 

If you don’t yet have a customs broker who can meet all your needs in today’s changing environment, consider C.H. Robinson’s customs compliance services. With over 100 licensed customs brokers in North America, and a Trusted Advisor® approach, our experts are ready to help.

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Ben Bidwell serves as the Director of U.S. Customs at  C.H. Robinson

fresh chicken market

European Fresh Chicken Cut Market – Output Doubled over the Last Decade

IndexBox has just published a new report: ‘EU – Fresh Or Chilled Cuts Of Chicken – Market Analysis, Forecast, Size, Trends And Insights’. Here is a summary of the report’s key findings.

The revenue of the fresh chicken cut market in the European Union is estimated at $18B in 2018. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price). The total market indicated a buoyant increase from 2007 to 2018: its value increased at an average annual rate of +7.1% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period.

Based on 2018 figures, fresh chicken cut consumption increased by +15.2% against 2015 indices. The growth pace was the most rapid in 2011 with an increase of 14% year-to-year. The level of fresh chicken cut consumption peaked in 2018 and is expected to retain its growth in the near future.

Consumption By Country in the EU

The countries with the highest volumes of fresh chicken cut consumption in 2018 were the Netherlands (1.1M tonnes), Poland (947K tonnes) and the UK (911K tonnes), with a combined 45% share of total consumption.

From 2007 to 2018, the most notable rate of growth in terms of fresh chicken cut consumption, amongst the main consuming countries, was attained by the Netherlands, while the other leaders experienced more modest paces of growth.

In value terms, the UK ($3.7B), the Netherlands ($2.6B) and France ($2.2B) constituted the countries with the highest levels of market value in 2018, together accounting for 47% of the total market.

In 2018, the highest levels of fresh chicken cut per capita consumption was registered in the Netherlands (64 kg per person), followed by Poland (25 kg per person), the UK (14 kg per person) and Spain (11 kg per person), while the world average per capita consumption of fresh chicken cut was estimated at 13 kg per person.

From 2007 to 2018, the average annual rate of growth in terms of the fresh chicken cut per capita consumption in the Netherlands stood at +13.8%. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Poland (+10.1% per year) and the UK (+2.4% per year).

Production in the EU

The fresh chicken cut production totaled 6.8M tonnes in 2018, growing by 7.8% against the previous year. The total output indicated a prominent expansion from 2007 to 2018: its volume increased at an average annual rate of +7.0% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, fresh chicken cut production increased by +110.1% against 2007 indices. The pace of growth appeared the most rapid in 2016 with an increase of 13% y-o-y. The volume of fresh chicken cut production peaked in 2018 and is likely to continue its growth in the near future.

In value terms, fresh chicken cut production amounted to $17.2B in 2018 estimated in export prices. The total output value increased at an average annual rate of +4.1% from 2007 to 2018; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2011 with an increase of 18% against the previous year. Over the period under review, fresh chicken cut production reached its maximum level in 2018 and is likely to continue its growth in the near future.

Production By Country in the EU

The countries with the highest volumes of fresh chicken cut production in 2018 were Poland (1.4M tonnes), the Netherlands (1.3M tonnes) and the UK (835K tonnes), together comprising 51% of total production.

From 2007 to 2018, the most notable rate of growth in terms of fresh chicken cut production, amongst the main producing countries, was attained by Poland, while the other leaders experienced more modest paces of growth.

Exports in the EU

In 2018, approx. 1.9M tonnes of fresh or chilled cuts of chicken were exported in the European Union; rising by 4% against the previous year. Over the period under review, fresh chicken cut exports continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2011 with an increase of 25% against the previous year. Over the period under review, fresh chicken cut exports reached their maximum in 2018 and are likely to continue its growth in the near future.

In value terms, fresh chicken cut exports totaled $4.6B (IndexBox estimates) in 2018. The total exports indicated prominent growth from 2007 to 2018: its value increased at an average annual rate of +8.2% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, fresh chicken cut exports increased by +20.5% against 2014 indices. The pace of growth was the most pronounced in 2011 when exports increased by 25% against the previous year. Over the period under review, fresh chicken cut exports reached their maximum in 2018 and are expected to retain its growth in the immediate term.

Exports by Country

The Netherlands (542K tonnes), Poland (430K tonnes) and Belgium (292K tonnes) represented roughly 67% of total exports of fresh or chilled cuts of chicken in 2018. Germany (167K tonnes) held an 8.9% share (based on tonnes) of total exports, which put it in second place, followed by the UK (7%). The following exporters – France (53K tonnes) and Spain (40K tonnes) – together made up 4.9% of total exports.

From 2007 to 2018, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by Poland, while the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($1.4B), Poland ($1.2B) and Belgium ($637M) constituted the countries with the highest levels of exports in 2018, with a combined 69% share of total exports.

Among the main exporting countries, Poland experienced the highest growth rate of exports, over the last eleven-year period, while the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2018, the fresh chicken cut export price in the European Union amounted to $2,466 per tonne, surging by 11% against the previous year. In general, the fresh chicken cut export price, however, continues to indicate a mild downturn. The most prominent rate of growth was recorded in 2018 an increase of 11% against the previous year. The level of export price peaked at $3,023 per tonne in 2008; however, from 2009 to 2018, export prices remained at a lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was France ($2,819 per tonne), while the UK ($780 per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Spain, while the other leaders experienced a decline in the export price figures.

Imports in the EU

In 2018, approx. 1.6M tonnes of fresh or chilled cuts of chicken were imported in the European Union; jumping by 4.9% against the previous year. Over the period under review, fresh chicken cut imports continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2009 with an increase of 23% year-to-year. Over the period under review, fresh chicken cut imports reached their maximum in 2018 and are likely to continue its growth in the immediate term.

In value terms, fresh chicken cut imports amounted to $4.1B (IndexBox estimates) in 2018. The total imports indicated buoyant growth from 2007 to 2018: its value increased at an average annual rate of +9.2% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, fresh chicken cut imports increased by +29.5% against 2015 indices. The most prominent rate of growth was recorded in 2011 when imports increased by 31% year-to-year. Over the period under review, fresh chicken cut imports reached their maximum in 2018 and are likely to see steady growth in the near future.

Imports by Country

In 2018, Germany (319K tonnes) and the Netherlands (316K tonnes) were the largest importers of fresh or chilled cuts of chicken in the European Union, together accounting for approx. 39% of total imports. It was followed by France (210K tonnes), the UK (207K tonnes) and Belgium (143K tonnes), together comprising a 34% share of total imports. Ireland (46K tonnes), the Czech Republic (45K tonnes), Hungary (43K tonnes), Slovakia (30K tonnes), Bulgaria (28K tonnes), Austria (26K tonnes) and Greece (25K tonnes) followed a long way behind the leaders.

From 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by Bulgaria, while the other leaders experienced more modest paces of growth.

In value terms, the largest fresh chicken cut importing markets in the European Union were Germany ($762M), the UK ($743M) and France ($641M), together comprising 53% of total imports. The Netherlands, Belgium, Ireland, the Czech Republic, Hungary, Austria, Slovakia, Greece and Bulgaria lagged somewhat behind, together comprising a further 36%.

Among the main importing countries, Bulgaria experienced the highest rates of growth with regard to imports, over the last eleven-year period, while the other leaders experienced more modest paces of growth.

Import Prices by Country

The fresh chicken cut import price in the European Union stood at $2,498 per tonne in 2018, jumping by 10% against the previous year. In general, the fresh chicken cut import price, however, continues to indicate a slight setback. The growth pace was the most rapid in 2010 an increase of 11% y-o-y. The level of import price peaked at $3,092 per tonne in 2007; however, from 2008 to 2018, import prices failed to regain their momentum.

There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was Ireland ($4,079 per tonne), while Bulgaria ($1,517 per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Hungary, while the other leaders experienced more modest paces of growth.

Source: IndexBox AI Platform

Wood Kitchenware And Tableware Market in the EU – A Ban on Single-Use Plastics Drives Demand for Wooden Products

IndexBox has just published a new report: ‘EU – Tableware And Kitchenware Of Wood – Market Analysis, Forecast, Size, Trends And Insights’. Here is a summary of the report’s key findings.

The European parliament has voted to ban single-use plastic cutlery, cotton buds, straws and stirrers as part of a sweeping law against plastic waste that despoils beaches and pollutes oceans. The vote by MEPs paves the way for a ban on single-use plastics to come into force by 2021 in all EU member states.

Against this background, there is an increase in the consumption of wooden cutlery and tableware instead of disposable plastic ones. Growing demand is supported by both expanding domestic production and accelerated growth in imports.

Imports in the EU

In 2018, the wood kitchenware and tableware imports in the European Union amounted to 117K tonnes, surging by 3.3% against the previous year. The total import volume increased at an average annual rate of +1.2% from 2007 to 2018; however, the trend pattern indicated some noticeable fluctuations being recorded over the period under review. The pace of growth was the most pronounced in 2014 with an increase of 14% against the previous year. Over the period under review, wood kitchenware and tableware imports attained their peak figure in 2018 and are expected to retain its growth in the immediate term.

In value terms, wood kitchenware and tableware imports totaled $528M (IndexBox estimates) in 2018. The total imports indicated a resilient expansion from 2007 to 2018: its value increased at an average annual rate of +1.2% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, wood kitchenware and tableware imports increased by +18.6% against 2014 indices. The pace of growth appeared the most rapid in 2014 when imports increased by 24% y-o-y. The level of imports peaked in 2018 and are likely to continue their growth in the near future.

Imports by Country

In 2018, Germany (26K tonnes), distantly followed by the UK (17K tonnes), France (15K tonnes), the Netherlands (14K tonnes), Italy (8.5K tonnes) and Belgium (6.8K tonnes) were the major importers of tableware and kitchenware of wood, together making up 75% of total imports. The following importers – Poland (4,740 tonnes), Sweden (3,802 tonnes), the Czech Republic (3,462 tonnes), Denmark (2,749 tonnes), Spain (2,325 tonnes) and Portugal (2,265 tonnes) – together made up 17% of total imports.

From 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by the Czech Republic, while the other leaders experienced more modest paces of growth.

In value terms, the largest wood kitchenware and tableware importing markets in the European Union were Germany ($112M), the UK ($78M) and France ($72M), together accounting for 50% of total imports. These countries were followed by the Netherlands, Italy, Belgium, Sweden, Denmark, Poland, Spain, Portugal and the Czech Republic, which together accounted for a further 41%.

The Netherlands recorded the highest rates of growth with regard to imports, among the main importing countries over the last eleven years, while the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2018, the wood kitchenware and tableware import price in the European Union amounted to $4,518 per tonne, picking up by 8.2% against the previous year. Over the last eleven years, it increased at an average annual rate of +2.7%. The most prominent rate of growth was recorded in 2011 an increase of 10% y-o-y. The level of import price peaked in 2018 and is expected to retain its growth in the immediate term.

Prices varied noticeably by the country of destination; the country with the highest price was Denmark ($6,814 per tonne), while the Czech Republic ($2,322 per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Spain, while the other leaders experienced more modest paces of growth.

Exports in the EU

In 2018, approx. 42K tonnes of tableware and kitchenware of wood were exported in the European Union; lowering by -5.4% against the previous year. In general, wood kitchenware and tableware exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by 21% against the previous year. Over the period under review, wood kitchenware and tableware exports reached their peak figure at 49K tonnes in 2014; however, from 2015 to 2018, exports remained at a lower figure.

In value terms, wood kitchenware and tableware exports totaled $223M (IndexBox estimates) in 2018. The total exports indicated a tangible expansion from 2007 to 2018: its value increased at an average annual rate of +0.8% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, wood kitchenware and tableware exports decreased by -6.0% against 2016 indices. The growth pace was the most rapid in 2014 with an increase of 23% year-to-year. Over the period under review, wood kitchenware and tableware exports reached their peak figure at $238M in 2016; however, from 2017 to 2018, exports stood at a somewhat lower figure.

Exports by Country

In 2018, Germany (8,014 tonnes), the Netherlands (6,656 tonnes) and Romania (5,687 tonnes) were the major exporters of tableware and kitchenware of wood in the European Union, generating 48% of total export. Poland (3,622 tonnes) held an 8.6% share (based on tonnes) of total exports, which put it in second place, followed by Italy (6.2%) and Belgium (5%). Spain (1,844 tonnes), Slovenia (1,652 tonnes), France (1,602 tonnes), Portugal (1,491 tonnes), the Czech Republic (1,276 tonnes) and Sweden (1,206 tonnes) held a little share of total exports.

From 2007 to 2018, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by Slovenia, while the other leaders experienced more modest paces of growth.

In value terms, Germany ($39M), the Netherlands ($34M) and Italy ($22M) appeared to be the countries with the highest levels of exports in 2018, together comprising 42% of total exports.

Among the main exporting countries, the Netherlands experienced the highest growth rate of exports, over the last eleven years, while the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2018, the wood kitchenware and tableware export price in the European Union amounted to $5,306 per tonne, therefore, remained relatively stable against the previous year. Over the period from 2007 to 2018, it increased at an average annual rate of +2.2%. The growth pace was the most rapid in 2011 an increase of 12% against the previous year. Over the period under review, the export prices for tableware and kitchenware of wood attained their peak figure in 2018 and is likely to continue its growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2018, the country with the highest price was Italy ($8,408 per tonne), while Romania ($2,803 per tonne) was amongst the lowest.

From 2007 to 2018, 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 AI Platform

imports

U.S. Imports of Fats And Oils Refining and Blending Doubled over the Last Five Years

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

In 2018, the revenue of the fat and oil market in the U.S. amounted to $10.6B. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price). Over the period under review, fat and oil consumption continues to indicate a decrease. The pace of growth was the most pronounced in 2016 when the market value decreased by -4% year-to-year. Fat and oil consumption peaked at $18.6B in 2013; however, from 2014 to 2018, consumption stood at a somewhat lower figure.

U.S. Fat And Oil Production

In value terms, fat and oil production totaled $10.5B in 2018. In general, fat and oil production continues to indicate a decline. The most prominent rate of growth was recorded in 2016 with a decrease of -4% year-to-year. Over the period under review, fat and oil production reached its peak figure level at $18.6B in 2013; however, from 2014 to 2018, production stood at a somewhat lower figure.

In value terms, shortening and cooking oils ($9.1B) constituted the leading product category. The second position in the ranking was occupied by margarine, butter blends, and butter substitutes ($1.3B).

From 2013 to 2018, the average annual rate of growth in terms of the production volume of shortening and cooking oils stood at -11.4%. With regard to the other produced products, the following average annual rates of growth were recorded: margarine, butter blends, and butter substitutes (-6.6% per year) and other fats and oils refining and blending (+20.4% per year).

Exports from the U.S.

In 2018, the amount of fats and oils exported from the U.S. stood at 22K tonnes, surging by 47% against the previous year. Over the period under review, the total exports indicated a strong expansion from 2013 to 2018: its volume increased at an average annual rate of +6.8% over the last five-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, fat and oil exports increased by +126.1% against 2015 indices. The pace of growth was the most pronounced in 2018 when exports increased by 47% year-to-year. In that year, fat and oil exports attained their peak and are likely to continue its growth in the immediate term.

In value terms, fat and oil exports stood at $26M (IndexBox estimates) in 2018. Over the period under review, the total exports indicated strong growth from 2013 to 2018: its value increased at an average annual rate of +6.8% over the last five years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, fat and oil exports increased by +115.0% against 2015 indices. The most prominent rate of growth was recorded in 2018 when exports increased by 39% against the previous year. In that year, fat and oil exports reached their peak and are likely to continue its growth in the immediate term.

Exports by Country

Libya (5.9K tonnes), Egypt (3.1K tonnes) and India (3K tonnes) were the main destinations of fat and oil exports from the U.S., with a combined 55% share of total exports.

From 2013 to 2018, the most notable rate of growth in terms of exports, amongst the main countries of destination, was attained by India (+270.1% per year), while the other leaders experienced more modest paces of growth.

In value terms, Libya ($5.1M) emerged as the key foreign market for fat and oil exports from the U.S., comprising 19% of total fat and oil exports. The second position in the ranking was occupied by India ($2.3M), with a 8.6% share of total exports. It was followed by Egypt, with a 8.2% share.

From 2013 to 2018, the average annual growth rate of value to Libya was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+201.4% per year) and Egypt (0.0% per year).

Export Prices by Country

The average fat and oil export price stood at $1,210 per tonne in 2018, going down by -5.7% against the previous year. Over the last five-year period, it increased at an average annual rate of +3.1%. The growth pace was the most rapid in 2015 an increase of 23% year-to-year. The export price peaked at $1,283 per tonne in 2017, and then declined slightly in the following year.

Prices varied noticeably by the country of destination; the country with the highest price was South Korea ($4,008 per tonne), while the average price for exports to Egypt ($690 per tonne) was amongst the lowest.

From 2013 to 2018, the most notable rate of growth in terms of prices was recorded for supplies to South Korea, while the prices for the other major destinations experienced more modest paces of growth.

Imports into the U.S.

In 2018, the fat and oil imports into the U.S. stood at 55K tonnes, increasing by 18% against the previous year. In general, fat and oil imports continue to indicate a skyrocketing expansion. The pace of growth was the most pronounced in 2014 with an increase of 42% y-o-y. Imports peaked in 2018 and are likely to continue its growth in the immediate term.

In value terms, fat and oil imports totaled $154M (IndexBox estimates) in 2018. Over the period under review, the total imports indicated remarkable growth from 2013 to 2018: its value increased at an average annual rate of +20.1% over the last five-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, fat and oil imports increased by +80.1% against 2013 indices. The pace of growth was the most pronounced in 2018 when imports increased by 18% y-o-y. In that year, fat and oil imports reached their peak and are likely to continue its growth in the immediate term.

Imports by Country

In 2018, Indonesia (16K tonnes) constituted the largest supplier of fat and oil to the U.S., with a 29% share of total imports. Moreover, fat and oil imports from Indonesia exceeded the figures recorded by the second-largest supplier, Spain (6.1K tonnes), threefold. India (5.9K tonnes) ranked third in terms of total imports with a 11% share.

From 2013 to 2018, the average annual rate of growth in terms of volume from Indonesia stood at +105.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+81.4% per year) and India (+8.4% per year).

In value terms, Indonesia ($49M) constituted the largest supplier of fat and oil to the U.S., comprising 32% of total fat and oil imports. The second position in the ranking was occupied by Malaysia ($15M), with a 10% share of total imports. It was followed by India, with a 7.6% share.

From 2013 to 2018, the average annual rate of growth in terms of value from Indonesia stood at +113.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+52.6% per year) and India (+9.8% per year).

Import Prices by Country

In 2018, the average fat and oil import price amounted to $2,774 per tonne, flattening at the previous year. Over the period under review, the fat and oil import price continues to indicate an abrupt decline. The most prominent rate of growth was recorded in 2016 an increase of 26% year-to-year. The import price peaked at $3,840 per tonne in 2013; however, from 2014 to 2018, import prices stood at a somewhat lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was Germany ($7,513 per tonne), while the price for Ecuador ($1,043 per tonne) was amongst the lowest.

From 2013 to 2018, the most notable rate of growth in terms of prices was attained by Malaysia, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform

jersey

EU Jersey Market – Consumption Posted Solid Gains, Reaching $26B

IndexBox has just published a new report: ‘EU – Jerseys, Pullovers, Cardigans And Similar Articles – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

The revenue of the jersey market in the European Union amounted to $26.1B in 2018, growing by 9.2% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price). Over the period under review, jersey consumption continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2008 when the market value increased by 18% y-o-y. In that year, the jersey market attained its peak level of $28.9B. From 2009 to 2018, the growth of the jersey market remained at a lower figure.

Production in the EU

In 2018, approx. 229M units of jerseys, pullovers, cardigans and similar articles were produced in the European Union; lowering by -3.2% against the previous year. Over the period under review, jersey production continues to indicate a deep curtailment. The growth pace was the most rapid in 2017 with an increase of 10% year-to-year. The volume of jersey production peaked at 398M units in 2007; however, from 2008 to 2018, production remained at a lower figure.

In value terms, jersey production amounted to $4.3B in 2018 estimated in export prices. In general, jersey production continues to indicate a drastic contraction. The pace of growth appeared the most rapid in 2017 with an increase of 17% y-o-y. Over the period under review, jersey production reached its maximum level at $7.8B in 2007; however, from 2008 to 2018, production remained at a lower figure.

Exports in the EU

In 2018, approx. 1B units of jerseys, pullovers, cardigans and similar articles were exported in the European Union; picking up by 2.9% against the previous year. The total export volume increased at an average annual rate of +2.8% over the period from 2007 to 2018; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2016 when Exports increased by 23% year-to-year. The volume of exports peaked in 2018 and are likely to see steady growth in the immediate term.

In value terms, jersey exports totaled $13.3B in 2018. The total export value increased at an average annual rate of +2.0% from 2007 to 2018; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed over the period under review. The most prominent rate of growth was recorded in 2017 when Exports increased by 15% year-to-year. In that year, jersey exports reached their peak of $13.5B, and then declined slightly in the following year.

Exports by Country

In 2018, Germany (215M units), distantly followed by Belgium (120M units), Italy (119M units), Spain (102M units), France (85M units), the Netherlands (70M units), Poland (68M units) and Denmark (64M units) were the main exporters of jerseys, pullovers, cardigans and similar articles, together generating 81% of total exports.

From 2007 to 2018, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by Poland, while the other leaders experienced more modest paces of growth.

In value terms, Italy ($3.2B), Germany ($2.7B) and France ($1.4B) appeared to be the countries with the highest levels of exports in 2018, with a combined 55% share of total exports. Belgium, Spain, Poland, Denmark and the Netherlands lagged somewhat behind, together comprising a further 29%.

Poland experienced the highest rates of growth with regard to exports, among the main exporting countries over the last eleven years, while the other leaders experienced more modest paces of growth.

Export Prices by Country

The jersey export price in the European Union stood at $13 per unit in 2018, lowering by -4.4% against the previous year. Over the period under review, the jersey export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the export price increased by 17% against the previous year. The level of export price peaked at $15 per unit in 2008; however, from 2009 to 2018, export prices failed to regain their momentum.

Prices varied noticeably by the country of origin; the country with the highest price was Italy ($27 per unit), while Spain ($6.9 per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Poland, while the other leaders experienced more modest paces of growth.

Imports in the EU

In 2018, approx. 2.7B units of jerseys, pullovers, cardigans and similar articles were imported in the European Union; growing by 7.3% against the previous year. The total import volume increased at an average annual rate of +2.9% over the period from 2007 to 2018; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2008 when Imports increased by 16% year-to-year. The volume of imports peaked in 2018 and are expected to retain its growth in the immediate term.

In value terms, jersey imports stood at $22.6B in 2018. The total import value increased at an average annual rate of +1.9% from 2007 to 2018; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2008 when Imports increased by 19% y-o-y. The level of imports peaked in 2018 and are likely to see steady growth in the near future.

Imports by Country

Germany (598M units) and the UK (473M units) represented roughly 40% of total imports of jerseys, pullovers, cardigans and similar articles in 2018. France (305M units) ranks next in terms of the total imports with a 11% share, followed by Italy (9.6%), the Netherlands (6.6%), Spain (4.8%), Belgium (4.6%) and Poland (4.6%).

From 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by Poland, while the other leaders experienced more modest paces of growth.

In value terms, Germany ($5B), France ($3.2B) and the UK ($3.2B) constituted the countries with the highest levels of imports in 2018, with a combined 50% share of total imports. Italy, the Netherlands, Spain, Belgium and Poland lagged somewhat behind, together accounting for a further 32%.

Among the main importing countries, Poland experienced the highest rates of growth with regard to imports, over the last eleven year period, while the other leaders experienced more modest paces of growth.

Import Prices by Country

The jersey import price in the European Union stood at $8,501 per thousand units in 2018, coming down by -1.7% against the previous year. Overall, the jersey import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2011 an increase of 12% y-o-y. In that year, the import prices for jerseys, pullovers, cardigans and similar articles reached their peak level of $10,568 per thousand units. From 2012 to 2018, the growth in terms of the import prices for jerseys, pullovers, cardigans and similar articles failed to regain its momentum.

Prices varied noticeably by the country of destination; the country with the highest price was France ($10,555 per thousand units), while the UK ($6,731 per thousand units) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Poland, while the other leaders experienced more modest paces of growth.

Source: IndexBox AI Platform

technical textiles

Technical Textiles Market in the EU – Poland Emerges as the Fastest-growing Exporter

IndexBox has just published a new report: ‘EU – Textile Products And Articles For Technical Uses – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

The revenue of the technical textiles market in the European Union amounted to $1.6B in 2018, stabilizing at the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price).

Overall, technical textiles consumption continues to indicate a slight descent. The pace of growth was the most pronounced in 2016 when the market value increased by 6.6% year-to-year. Over the period under review, the technical textiles market attained its maximum level at $1.9B in 2007; however, from 2008 to 2018, consumption stood at a somewhat lower figure.

Consumption By Country in the EU

The countries with the highest volumes of technical textiles consumption in 2018 were the UK (19K tonnes), Germany (12K tonnes) and France (12K tonnes), together accounting for 36% of total consumption. These countries were followed by Italy, the Netherlands, Spain, the Czech Republic, Romania, Poland, Sweden, Belgium and Portugal, which together accounted for a further 47%.

From 2007 to 2018, the most notable rate of growth in terms of technical textiles consumption, amongst the main consuming countries, was attained by the Netherlands, while the other leaders experienced more modest paces of growth.

In value terms, the largest technical textiles markets in the European Union were Germany ($311M), France ($248M) and the UK ($170M), with a combined 47% share of the total market. Sweden, Italy, the Czech Republic, Romania, the Netherlands, Belgium, Poland, Spain and Portugal lagged somewhat behind, together comprising a further 27%.

The countries with the highest levels of technical textiles per capita consumption in 2018 were the Netherlands (582 kg per 1000 persons), the Czech Republic (536 kg per 1000 persons) and Sweden (415 kg per 1000 persons).

From 2007 to 2018, the most notable rate of growth in terms of technical textiles per capita consumption, amongst the main consuming countries, was attained by the Netherlands, while the other leaders experienced more modest paces of growth.

Market Forecast 2019-2025 in the EU

Driven by increasing demand for technical textiles in the European Union, the market is expected to continue an upward consumption trend over the next seven years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +0.2% for the seven-year period from 2018 to 2025, which is projected to bring the market volume to 121K tonnes by the end of 2025.

Production in the EU

In 2018, technical textiles production in the European Union stood at 140K tonnes, reducing by -3.2% against the previous year. The total output volume increased at an average annual rate of +1.9% over the period from 2007 to 2018; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2009 with an increase of 15% against the previous year. The volume of technical textiles production peaked at 161K tonnes in 2011; however, from 2012 to 2018, production remained at a lower figure.

In value terms, technical textiles production totaled $1.9B in 2018 estimated in export prices. Overall, technical textiles production, however, continues to indicate a mild deduction. The most prominent rate of growth was recorded in 2016 with an increase of 3.8% y-o-y. The level of technical textiles production peaked at $2.3B in 2007; however, from 2008 to 2018, production failed to regain its momentum.

Production By Country in the EU

The countries with the highest volumes of technical textiles production in 2018 were Germany (32K tonnes), Italy (18K tonnes) and the UK (15K tonnes), with a combined 47% share of total production. These countries were followed by the Netherlands, Spain, Belgium, France, the Czech Republic, Sweden, Poland, Hungary and Romania, which together accounted for a further 43%.

From 2007 to 2018, the most notable rate of growth in terms of technical textiles production, amongst the main producing countries, was attained by Romania, while the other leaders experienced more modest paces of growth.

Exports in the EU

In 2018, the amount of textile products and articles for technical uses exported in the European Union stood at 138K tonnes, declining by -5.6% against the previous year. The total export volume increased at an average annual rate of +1.5% over the period from 2007 to 2018; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2010 when exports increased by 30% year-to-year. The volume of exports peaked at 152K tonnes in 2011; however, from 2012 to 2018, exports remained at a lower figure.

In value terms, technical textiles exports amounted to $2.8B (IndexBox estimates) in 2018. In general, technical textiles exports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2011 with an increase of 14% year-to-year. Over the period under review, technical textiles exports reached their peak figure at $2.9B in 2008; however, from 2009 to 2018, exports remained at a lower figure.

Exports by Country

Germany represented the major exporting country with an export of about 41K tonnes, which amounted to 30% of total exports. It was distantly followed by Italy (18K tonnes), the Netherlands (9.6K tonnes), Belgium (9.6K tonnes), Poland (8.4K tonnes), the Czech Republic (7K tonnes), Spain (6.9K tonnes) and France (6.5K tonnes), together mixing up a 48% share of total exports. The following exporters – the UK (5.8K tonnes), Sweden (4.2K tonnes), Austria (3.8K tonnes) and Slovakia (3K tonnes) – together made up 12% of total exports.

Exports from Germany increased at an average annual rate of +2.4% from 2007 to 2018. At the same time, Poland (+11.3%), the Czech Republic (+7.9%), Slovakia (+6.6%), the Netherlands (+5.5%) and Italy (+2.5%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing exporter in the European Union, with a CAGR of +11.3% from 2007-2018. Sweden, France and Austria experienced a relatively flat trend pattern. By contrast, Belgium (-1.8%), Spain (-4.7%) and the UK (-5.7%) illustrated a downward trend over the same period. From 2007 to 2018, the share of Germany, Poland, Italy, the Netherlands and the Czech Republic increased by +6.7%, +4.2%, +3.1%, +3.1% and +2.9% percentage points, while Belgium (-1.6 p.p.), Spain (-3.5 p.p.) and the UK (-3.9 p.p.) saw their share reduced. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($1B) remains the largest technical textiles supplier in the European Union, comprising 37% of total technical textiles exports. The second position in the ranking was occupied by Italy ($297M), with a 10% share of total exports. It was followed by France, with a 5.9% share.

In Germany, technical textiles exports expanded at an average annual rate of +1.2% over the period from 2007-2018. The remaining exporting countries recorded the following average annual rates of exports growth: Italy (+1.1% per year) and France (-1.6% per year).

Export Prices by Country

The technical textiles export price in the European Union stood at $21 per kg in 2018, jumping by 12% against the previous year. Overall, the technical textiles export price, however, continues to indicate a slight downturn. The growth pace was the most rapid in 2018 when the export price increased by 12% year-to-year. Over the period under review, the export prices for textile products and articles for technical uses attained their peak figure at $23 per kg in 2008; however, from 2009 to 2018, export prices failed to regain their momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2018, the country with the highest price was Austria ($36 per kg), while Spain ($13 per kg) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by the Czech Republic, while the other leaders experienced more modest paces of growth.

Imports in the EU

In 2018, technical textiles imports in the European Union amounted to 116K tonnes, dropping by -2.9% against the previous year. The total import volume increased at an average annual rate of +1.0% from 2007 to 2018; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The growth pace was the most rapid in 2010 when imports increased by 19% y-o-y. The volume of imports peaked at 120K tonnes in 2016; however, from 2017 to 2018, imports stood at a somewhat lower figure.

In value terms, technical textiles imports totaled $2.1B (IndexBox estimates) in 2018. The total import value increased at an average annual rate of +1.2% over the period from 2007 to 2018; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth was the most pronounced in 2011 with an increase of 16% y-o-y. Over the period under review, technical textiles imports reached their maximum in 2018 and are expected to retain its growth in the near future.

Imports by Country

In 2018, Germany (21K tonnes), distantly followed by Italy (12K tonnes), France (11K tonnes), the Netherlands (10K tonnes), the UK (9.1K tonnes), Poland (7.5K tonnes), the Czech Republic (5.7K tonnes) and Spain (5.4K tonnes) represented the major importers of textile products and articles for technical uses, together creating 70% of total imports. The following importers – Belgium (4.5K tonnes), Romania (3.9K tonnes), Austria (3.1K tonnes) and Sweden (3K tonnes) – together made up 12% of total imports.

From 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by the Netherlands, while the other leaders experienced more modest paces of growth.

In value terms, Germany ($497M) constitutes the largest market for imported textile products and articles for technical uses in the European Union, comprising 24% of total technical textiles imports. The second position in the ranking was occupied by France ($223M), with a 11% share of total imports. It was followed by the Netherlands, with a 8.9% share.

In Germany, technical textiles imports increased at an average annual rate of +1.3% over the period from 2007-2018. In the other countries, the average annual rates were as follows: France (+1.5% per year) and the Netherlands (+7.6% per year).

Import Prices by Country

The technical textiles import price in the European Union stood at $18 per kg in 2018, jumping by 9.9% against the previous year. Overall, the technical textiles import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2011 an increase of 15% year-to-year. The level of import price peaked in 2018 and is expected to retain its growth in the near future.

Prices varied noticeably by the country of destination; the country with the highest price was Germany ($24 per kg), while Romania ($11 per kg) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Romania, while the other leaders experienced more modest paces of growth.

Source: IndexBox AI Platform

couscous

EU Couscous Market 2019 – France is the Undisputed Leader in Consumption, Production, and Imports

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

The revenue of the couscous market in the European Union amounted to $538M in 2018, approximately equating the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price). The market value increased at an average annual rate of +2.2% from 2007 to 2018; however, the trend pattern indicated some noticeable fluctuations being recorded over the period under review. The pace of growth was the most pronounced in 2011 with an increase of 13% y-o-y. The level of couscous consumption peaked in 2018 and is likely to see steady growth in the near future.

Consumption By Country in the EU

France (143K tonnes) remains the largest couscous consuming country in the European Union, comprising approx. 43% of total consumption. Moreover, couscous consumption in France exceeded the figures recorded by the region’s second-largest consumer, Germany (53K tonnes), threefold. The third position in this ranking was occupied by Italy (25K tonnes), with a 7.5% share.

In France, couscous consumption remained relatively stable over the period from 2007-2018. In the other countries, the average annual rates were as follows: Germany (+7.7% per year) and Italy (+4.1% per year).

In value terms, France ($238M) led the market, alone. The second position in the ranking was occupied by the UK ($79M). It was followed by Germany.

In 2018, the highest levels of couscous per capita consumption was registered in France (2,198 kg per 1000 persons), followed by the Netherlands (690 kg per 1000 persons), Belgium (669 kg per 1000 persons) and Germany (640 kg per 1000 persons), while the world average per capita consumption of couscous was estimated at 654 kg per 1000 persons.

In France, couscous per capita consumption remained relatively stable over the period from 2007-2018. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: the Netherlands (+5.7% per year) and Belgium (+5.3% per year).

Market Forecast 2019-2025 in the EU

Driven by increasing demand for couscous in the European Union, the market is expected to continue an upward consumption trend over the next seven years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +1.1% for the seven-year period from 2018 to 2025, which is projected to bring the market volume to 361K tonnes by the end of 2025.

Production in the EU

In 2018, the amount of couscous produced in the European Union stood at 333K tonnes, growing by 3.6% against the previous year. The total output volume increased at an average annual rate of +2.8% from 2007 to 2018; however, the trend pattern indicated some noticeable fluctuations being recorded over the period under review. The pace of growth was the most pronounced in 2016 with an increase of 8.3% against the previous year. Over the period under review, couscous production attained its peak figure volume in 2018 and is expected to retain its growth in the near future.

In value terms, couscous production stood at $509M in 2018 estimated in export prices. The total output value increased at an average annual rate of +1.5% from 2007 to 2018; however, the trend pattern remained consistent, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2011 with an increase of 9% against the previous year. The level of couscous production peaked in 2018 and is likely to continue its growth in the near future.

Production By Country in the EU

France (140K tonnes) remains the largest couscous producing country in the European Union, accounting for 42% of total production. Moreover, couscous production in France exceeded the figures recorded by the region’s second-largest producer, Italy (67K tonnes), twofold. The third position in this ranking was occupied by Germany (46K tonnes), with a 14% share.

In France, couscous production remained relatively stable over the period from 2007-2018. The remaining producing countries recorded the following average annual rates of production growth: Italy (+6.4% per year) and Germany (+6.8% per year).

Exports in the EU

The exports stood at 77K tonnes in 2018, lowering by -8.1% against the previous year. The total exports indicated a remarkable expansion from 2007 to 2018: its volume increased at an average annual rate of +4.0% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2010 with an increase of 18% against the previous year. The volume of exports peaked at 84K tonnes in 2017, and then declined slightly in the following year.

In value terms, couscous exports totaled $107M in 2018. The total export value increased at an average annual rate of +3.7% over the period from 2007 to 2018; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2008 with an increase of 29% y-o-y. The level of exports peaked in 2018 and are expected to retain its growth in the near future.

Exports by Country

Italy represented the largest exporter of couscous in the European Union, with the volume of exports resulting at 44K tonnes, which was approx. 57% of total exports in 2018. It was distantly followed by France (23K tonnes), making up a 30% share of total exports. The following exporters – Belgium (2.8K tonnes), the UK (1.8K tonnes), the Netherlands (1.5K tonnes) and Germany (1.2K tonnes) – together made up 9.5% of total exports.

From 2007 to 2018, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by the Netherlands, while the other leaders experienced more modest paces of growth.

In value terms, the largest couscous markets in the European Union were Italy ($47M), France ($39M) and Belgium ($6.1M), together accounting for 86% of total exports. These countries were followed by the UK, the Netherlands and Germany, which together accounted for a further 9.2%.

In terms of the main exporting countries, the Netherlands experienced the highest growth rate of exports, over the last eleven-year period, while the other leaders experienced more modest paces of growth.

Export Prices by Country

The couscous export price in the European Union stood at $1,381 per tonne in 2018, surging by 12% against the previous year. Over the period under review, the couscous export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2008 an increase of 28% against the previous year. In that year, the export prices for couscous reached their peak level of $1,825 per tonne. From 2009 to 2018, the growth in terms of the export prices for couscous failed to regain its momentum.

Prices varied noticeably by the country of origin; the country with the highest price was Germany ($2,524 per tonne), while Italy ($1,058 per tonne) was amongst the lowest.

From 2007 to 2018, 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.

Imports in the EU

In 2018, couscous imports in the European Union amounted to 77K tonnes, reducing by -12.7% against the previous year. Overall, couscous imports, however, continue to indicate resilient growth. The most prominent rate of growth was recorded in 2013 with an increase of 19% against the previous year. Over the period under review, couscous imports attained their maximum at 89K tonnes in 2017, and then declined slightly in the following year.

In value terms, couscous imports stood at $106M in 2018. The total imports indicated a buoyant increase from 2007 to 2018: its value increased at an average annual rate of +5.9% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, couscous imports increased by +84.0% against 2010 indices. The pace of growth was the most pronounced in 2011 with an increase of 27% year-to-year. Over the period under review, couscous imports attained their peak figure at $108M in 2017, and then declined slightly in the following year.

Imports by Country

France was the key importer of couscous in the European Union, with the volume of imports reaching 26K tonnes, which was near 34% of total imports in 2018. It was distantly followed by the UK (11K tonnes), Belgium (8.7K tonnes), Germany (7.8K tonnes), Spain (5.1K tonnes) and the Netherlands (3.5K tonnes), together comprising a 47% share of total imports. The Czech Republic (2.8K tonnes) followed a long way behind the leaders.

From 2007 to 2018, average annual rates of growth with regard to couscous imports into France stood at +2.8%. At the same time, the Czech Republic (+17.9%), Germany (+14.8%), the UK (+8.9%), Spain (+6.6%), Belgium (+5.5%) and the Netherlands (+4.7%) displayed positive paces of growth. Moreover, the Czech Republic emerged as the fastest-growing importer in the European Union, with a CAGR of +17.9% from 2007-2018. While the share of the UK (+8.7 p.p.), France (+8.7 p.p.), Germany (+7.9 p.p.), Belgium (+5 p.p.), Spain (+3.3 p.p.), the Czech Republic (+3 p.p.) and the Netherlands (+1.8 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, France ($35M) constitutes the largest market for imported couscous in the European Union, comprising 33% of total couscous imports. The second position in the ranking was occupied by Belgium ($15M), with a 14% share of total imports. It was followed by the UK, with a 12% share.

In France, couscous imports increased at an average annual rate of +5.3% over the period from 2007-2018. The remaining importing countries recorded the following average annual rates of imports growth: Belgium (+6.0% per year) and the UK (+8.7% per year).

Import Prices by Country

In 2018, the couscous import price in the European Union amounted to $1,369 per tonne, rising by 13% against the previous year. Over the last eleven years, it increased at an average annual rate of +1.2%. The pace of growth was the most pronounced in 2008 when the import price increased by 30% y-o-y. In that year, the import prices for couscous reached their peak level of $1,572 per tonne. From 2009 to 2018, the growth in terms of the import prices for couscous remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was the Netherlands ($1,837 per tonne), while the Czech Republic ($1,109 per tonne) was amongst the lowest.

From 2007 to 2018, 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 AI Platform

dairy

Dairy Spread Market in the EU – Key Insights

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

The revenue of the dairy spread market in the European Union amounted to $827M in 2017, surging by 18% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price). The market value increased at an average annual rate of +1.9% from 2007 to 2017; the trend pattern remained relatively stable, with only minor fluctuations being recorded over the period under review. The pace of growth was the most pronounced in 2017, when it surged by 18% y-o-y. In that year, the dairy spread market attained its peak level, and is likely to continue its growth in the immediate term.

Production in the EU

In 2017, approx. 200K tonnes of dairy spreads were produced in the European Union; increasing by 9.1% against the previous year. The dairy spread production continues to indicate a relatively flat trend pattern.

Dairy Spread Exports

Exports in the EU

In 2017, exports of dairy spreads in the European Union stood at 31K tonnes, flattening at the previous year. The dairy spread exports continue to indicate a perceptible curtailment.

In value terms, dairy spread exports stood at $138M (IndexBox estimates) in 2017. The dairy spread exports continue to indicate a relatively flat trend pattern. In that year, dairy spread exports reached their peak of $204M. From 2009 to 2017, the growth of dairy spread exports remained at a somewhat lower figure.

Exports by Country

Belgium was the main exporting countries with an export of about 9.5K tonnes, which amounted to 31% of total exports. Poland (4.5K tonnes) ranks second in terms of the global exports with a 15% share, followed by the UK (9.2%), Germany (8.4%), France (8.2%), Ireland (8%), Croatia (6.7%) and the Netherlands (4.8%).

Exports from Belgium decreased at an average annual rate of -2.0% from 2007 to 2017. At the same time, Poland (+31.2%), Croatia (+13.1%), the Netherlands (+5.5%) and France (+5.1%) displayed positive paces of growth. Moreover, Poland emerged as the fastest growing exporter in the European Union, with a CAGR of +31.2% from 2007-2017. Germany experienced a relatively flat trend pattern. By contrast, Ireland (-4.7%) and the UK (-17.2%) illustrated a downward trend over the same period. From 2007 to 2017, the share of the UK, Belgium and Ireland increased by 52%, 7.1% and 5% percentage points, while the Netherlands (-2%), France (-3.2%), Croatia (-4.8%) and Poland (-13.7%) saw their share reduced. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Belgium ($47M) remains the largest dairy spread supplier in the European Union, comprising 34% of global exports. The second position in the ranking was occupied by Germany ($17M), with a 12% share of global exports. It was followed by Poland, with a 9.3% share.

Export Prices by Country

The dairy spread export price in the European Union stood at $4.5 per kg in 2017, going up by 26% against the previous year. Over the period from 2007 to 2017, it increased at an average annual rate of +3.7%.

There were significant differences in the average export prices amongst the major exporting countries. In 2017, the country with the highest export price was Germany ($6.5 per kg), while the UK ($2.6 per kg) was amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of export prices was attained by the Netherlands (+4.9% per year), while the other leaders experienced more modest paces of growth.

Dairy Spread Imports

Imports in the EU

The imports totaled 31K tonnes in 2017, waning by -30.2% against the previous year. The dairy spread imports continue to indicate an abrupt decrease. The growth pace was the most rapid in 2015, when the imports increased by 18% against the previous year. In that year, dairy spread imports reached their peak of 54K tonnes. From 2016 to 2017, the growth of dairy spread imports failed to regain its momentum.

In value terms, dairy spread imports amounted to $120M (IndexBox estimates) in 2017. The dairy spread imports continue to indicate a slight contraction. Over the period under review, dairy spread imports attained their maximum at $167M in 2014; however, from 2015 to 2017, imports remained at a lower figure.

Imports by Country

In 2017, the UK (7.1K tonnes), distantly followed by Germany (4.6K tonnes), France (2.6K tonnes), Portugal (2.6K tonnes), Slovakia (2.1K tonnes), the Netherlands (1.7K tonnes), Spain (1.5K tonnes) and the Czech Republic (1.4K tonnes) represented the main importers of dairy spreads, together mixed up 77% of total imports. The following importers – Greece (1.3K tonnes), Belgium (1.1K tonnes), Austria (726 tonnes) and Romania (651 tonnes) together made up 12% of total imports.

From 2007 to 2017, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by the Netherlands (+43.7% per year), while the other leaders experienced more modest paces of growth.

In value terms, the UK ($28M), Germany ($17M) and France ($13M) constituted the countries with the highest levels of imports in 2017, with a combined 48% share of total imports. These countries were followed by Portugal, Spain, Belgium, Austria, Slovakia, Greece, the Czech Republic, the Netherlands and Romania, which together accounted for a further 41%.

Import Prices by Country

In 2017, the dairy spread import price in the European Union amounted to $3.9 per kg, picking up by 15% against the previous year. Over the last decade, it increased at an average annual rate of +3.6%.

Import prices varied noticeably by the country of destination; the country with the highest import price was Austria ($7.3 per kg), while the Netherlands ($2.2 per kg) was amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of import prices was attained by France (+9.2% per year), while the other leaders experienced more modest paces of growth.

Source: IndexBox AI Platform