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EU’s Belt and Bandolier Imports Bounced Back to $817M in 2018

belt

EU’s Belt and Bandolier Imports Bounced Back to $817M in 2018

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

The belt and bandolier market size in the EU is estimated at $711M in 2018, an increase of 1.5% 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).

Overall, belt and bandolier consumption continues to indicate a moderate shrinkage. The pace of growth was the most pronounced in 2014 when the market value increased by 6.2% y-o-y. The level of belt and bandolier consumption peaked at $858M in 2009; however, from 2010 to 2018, consumption remained at a lower figure.

Consumption by Country

Germany ($123M), France ($109M) and the UK ($95M) were the largest markets for belts and bandoliers, together accounting for 46% of the EU market. These countries were followed by Italy, Spain, Portugal, Austria, Romania, the Netherlands, Sweden, Belgium and the Czech Republic, which together accounted for a further 46%.

Imports in the EU

In 2018, EU’s belt and bandolier imports stood at $817M (IndexBox estimates). The total import value increased at an average annual rate of +1.7% over the last decade; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2011 when imports increased by 14% against the previous year. Over the period under review, belt and bandolier imports reached their peak figure at $829M in 2014; however, from 2015 to 2018, imports stood at a somewhat lower figure.

Imports by Country

In value terms, the largest belt and bandolier importing markets in the European Union were Germany ($173M), France ($161M) and the UK ($122M), with a combined 56% share of total imports.

The UK experienced the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while imports for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2018, the belt and bandolier import price in the European Union amounted to $47,531 per tonne, jumping by 3.8% against the previous year. There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was the UK ($59,224 per tonne), while Belgium ($28,562 per tonne) was amongst the lowest.

Source: IndexBox AI Platform

soap

Africa’s Liquid Soap and Washing Preparation Market to Expand Robustly, Driven by Growing Demand Due to the COVID-19 Pandemic

IndexBox has just published a new report: ‘Africa – Organic Surface-Active Products For Washing The Skin – Market Analysis, Forecast, Size, Trends And Insights’. Here is a summary of the report’s key findings.

According to the IndexBox study, consumption of organic surface-active products and preparations for washing the skin has nearly doubled over the past decade, due to population growth and rising middle-class incomes. In addition, urbanization had a positive effect. In 2018, the revenue of the skin organic surface-active products market in Africa was estimated at $1.2B, an increase of 2.5% y-o-y. Experts expect that the demand for liquid soap and other detergents will increase significantly in the near future due to the coronavirus pandemic.

Consumption by Country in Africa

The countries with the highest volumes of skin organic surface-active products consumption in 2018 were Nigeria (148K tonnes), Egypt (104K tonnes) and South Africa (73K tonnes), with a combined 80% share of total consumption. Somalia, Mali, Sierra Leone and Algeria lagged somewhat behind, together accounting for a further 15%.

From 2007 to 2018, the most notable rate of growth in terms of skin organic surface-active products consumption, amongst the main consuming countries, was attained by Algeria, while consumption for the other leaders experienced more modest paces of growth.

Exports in Africa

In 2018, the exports of organic surface-active products for washing the skin in Africa totaled 7.7K tonnes, picking up by 13% against the previous year. Overall, skin organic surface-active products exports continue to indicate a strong expansion.

In value terms, skin organic surface-active products exports stood at $18M (IndexBox estimates) in 2018.

Exports by Country

South Africa ($14M) remains the largest skin organic surface-active products supplier in Africa, comprising 77% of total skin organic surface-active products exports. The second position in the ranking was occupied by Egypt ($1.8M), with a 9.9% share of total exports.

In South Africa, skin organic surface-active products exports increased at an average annual rate of +16.7% over the period from 2007-2018. In the other countries, the average annual rates were as follows: Egypt (+5.0% per year) and Nigeria (+82.4% per year).

Export Prices by Country

In 2018, the skin organic surface-active products export price in Africa amounted to $2,366 per tonne, leveling off at the previous year. Over the period under review, the skin organic surface-active products export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2012 an increase of 19% y-o-y. The level of export price peaked at $3,395 per tonne in 2009; however, from 2010 to 2018, export prices failed to regain their momentum.

Prices varied noticeably by the country of origin; the country with the highest price was Egypt ($4,116 per tonne), while South Africa ($2,177 per tonne) was amongst the lowest.

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

Imports in Africa

In 2018, the skin organic surface-active products imports in Africa totaled 37K tonnes, picking up by 21% against the previous year. In general, skin organic surface-active products imports continue to indicate a buoyant increase.

In value terms, skin organic surface-active products imports amounted to $101M (IndexBox estimates) in 2018.

Imports by Country

Algeria ($24M), South Africa ($21M) and Morocco ($9.3M) appeared to be the countries with the highest levels of imports in 2018, with a combined 54% share of total imports. Botswana, Libya, Angola, Namibia, Tunisia, Egypt, Mauritius, Ghana and Zimbabwe lagged somewhat behind, together comprising a further 30%.

In terms of the main importing countries, Zimbabwe experienced the highest growth rate of the value of imports, over the period under review, while imports for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2018, the skin organic surface-active products import price in Africa amounted to $2,686 per tonne, approximately mirroring the previous year. There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was Algeria ($3,545 per tonne), while Zimbabwe ($1,468 per tonne) was amongst the lowest.

Source: IndexBox AI Platform

nitrogenous fertilizer

Nitrogenous Fertilizer Market in Asia-Pacific – China Remains the Largest Supplier in the Region, with 62% of Total Exports

IndexBox has just published a new report: ‘Asia-Pacific – Nitrogenous Fertilizers (Mineral Or Chemical) – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

The revenue of the nitrogenous fertilizer market in Asia-Pacific amounted to $30B in 2018, growing by 6.1% 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).

Exports in Asia-Pacific

In 2018, the amount of nitrogenous fertilizers (mineral or chemical) exported in Asia-Pacific amounted to 15M tonnes, an increase of 8% against the previous year. Over the period under review, nitrogenous fertilizer exports, however, continue to indicate a slight deduction. The pace of growth was the most pronounced in 2014 when exports increased by 35% against the previous year. The volume of exports peaked at 24M tonnes in 2015; however, from 2016 to 2018, exports stood at a somewhat lower figure.

In value terms, nitrogenous fertilizer exports stood at $3.4B (IndexBox estimates) in 2018.

Exports by Country

China represented the major exporter of nitrogenous fertilizers (mineral or chemical) in Asia-Pacific, with the volume of exports accounting for 10M tonnes, which was near 66% of total exports in 2018. Malaysia (1.8M tonnes) held the second position in the ranking, followed by Indonesia (1.2M tonnes) and South Korea (0.9M tonnes). All these countries together took approx. 25% share of total exports. Taiwan, Chinese (471K tonnes) and Japan (303K tonnes) held a little share of total exports.

Exports from China decreased at an average annual rate of -3.0% from 2013 to 2018. At the same time, Taiwan, Chinese (+15.2%), Malaysia (+11.6%) and South Korea (+1.6%) displayed positive paces of growth. Moreover, Taiwan emerged as the fastest-growing exporter in Asia-Pacific, with a CAGR of +15.2% from 2013-2018. By contrast, Indonesia (-5.2%) and Japan (-12.2%) illustrated a downward trend over the same period. Malaysia (+4.9 p.p.) and Taiwan, Chinese (+1.6 p.p.) significantly strengthened its position in terms of the total exports, while Japan, Indonesia and China saw its share reduced by -1.8%, -2.3% and -11% from 2013 to 2018, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($2.1B) remains the largest nitrogenous fertilizer supplier in Asia-Pacific, comprising 62% of total nitrogenous fertilizer exports. The second position in the ranking was occupied by Malaysia ($493M), with a 15% share of total exports. It was followed by Indonesia, with a 9.8% share.

Export Prices by Country

The nitrogenous fertilizer export price in Asia-Pacific stood at $218 per tonne in 2018, increasing by 2.7% against the previous year.

Prices varied noticeably by the country of origin; the country with the highest price was Indonesia ($283 per tonne), while Taiwan ($110 per tonne) was amongst the lowest.

From 2013 to 2018, the most notable rate of growth in terms of prices was attained by Indonesia, while the other leaders experienced a decline in the export price figures.

Imports in Asia-Pacific

The imports totaled 23M tonnes in 2018, jumping by 10% against the previous year. Over the period under review, nitrogenous fertilizer imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2015 when imports increased by 11% against the previous year. In that year, nitrogenous fertilizer imports reached their peak of 26M tonnes. From 2016 to 2018, the growth of nitrogenous fertilizer imports failed to regain its momentum.

In value terms, nitrogenous fertilizer imports amounted to $5.7B (IndexBox estimates) in 2018.

Imports by Country

India represented the key importer of nitrogenous fertilizers (mineral or chemical) in Asia-Pacific, with the volume of imports resulting at 6.2M tonnes, which was near 27% of total imports in 2018. Australia (2.8M tonnes) ranks second in terms of the total imports with a 12% share, followed by Thailand (11%), the Philippines (7.7%), Viet Nam (7.2%), Indonesia (6.6%) and Malaysia (5.7%). South Korea (868K tonnes), New Zealand (804K tonnes), Bangladesh (764K tonnes), Myanmar (693K tonnes) and Japan (536K tonnes) followed a long way behind the leaders.

From 2013 to 2018, average annual rates of growth with regard to nitrogenous fertilizer imports into India stood at -6.9%. At the same time, Myanmar (+24.8%), the Philippines (+12.7%), Japan (+8.7%), Indonesia (+6.8%), Australia (+4.3%), New Zealand (+1.3%) and Bangladesh (+1.1%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing importer in Asia-Pacific, with a CAGR of +24.8% from 2013-2018. South Korea and Thailand experienced a relatively flat trend pattern. By contrast, Malaysia (-1.8%) and Viet Nam (-4.2%) illustrated a downward trend over the same period. While the share of the Philippines (+3.5 p.p.), Australia (+2.3 p.p.), Myanmar (+2 p.p.) and Indonesia (+1.8 p.p.) increased significantly in terms of the total imports from 2013-2018, the share of Viet Nam (-1.7 p.p.) and India (-11.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($1.7B) constitutes the largest market for imported nitrogenous fertilizers (mineral or chemical) in Asia-Pacific, comprising 30% of total nitrogenous fertilizer imports. The second position in the ranking was occupied by Thailand ($744M), with a 13% share of total imports. It was followed by Australia, with a 11% share.

Import Prices by Country

In 2018, the nitrogenous fertilizer import price in Asia-Pacific amounted to $247 per tonne, picking up by 11% against the previous year. There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was South Korea ($318 per tonne), while Indonesia ($162 per tonne) was amongst the lowest.

From 2013 to 2018, the most notable rate of growth in terms of prices was attained by India, while the other leaders experienced a decline in the import price figures.

Source: IndexBox AI Platform

acetone

Turkey Constitutes the Biggest Market for Imported Acetone in the Middle East

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

Exports in the Middle East

In 2018, acetone exports stood at $125M (IndexBox estimates). Overall, acetone exports continue to indicate a prominent expansion. The growth pace was the most rapid in 2017 when exports more than doubled against the previous year. The level of exports peaked in 2018 and are likely to continue its growth in the near future.

Exports by Country

Saudi Arabia ($124M) represented roughly 99% of total exports of acetone in 2018.

Saudi Arabia was also the fastest-growing in terms of the acetone exports, with a CAGR of +16.6%% from 2013 to 2018. This country significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

Imports in the Middle East

In value terms, acetone imports stood at $37M (IndexBox estimates) in 2018. In general, acetone imports, however, continue to indicate a deep decrease. The pace of growth appeared the most rapid in 2017 with an increase of 39% against the previous year. The level of imports peaked at $66M in 2014; however, from 2015 to 2018, imports remained at a lower figure.

Imports by Country

Turkey ($22M) constitutes the largest market for imported acetone in the Middle East, comprising 58% of total acetone imports. The second position in the ranking was occupied by Iran ($4.3M), with a 12% share of total imports. It was followed by Israel, with a 11% share.

Import Prices by Country

The acetone import price in the Middle East stood at $737 per tonne in 2018.

There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was Iran ($972 per tonne), while the United Arab Emirates ($561 per tonne) was amongst the lowest.

From 2013 to 2018, the most notable rate of growth in terms of prices was attained by Iran, while the other leaders experienced a decline in the import price figures.

Source: IndexBox AI Platform

optical fiber cable

EU’s Optical Fiber Cable Market – Germany Dominates the European Trade

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

The revenue of the optical fiber cable market in the European Union amounted to $2.8B in 2018, rising by 8% 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 size increased at an average annual rate of +3.3% over the past five years.

Exports in the EU

In 2018, the optical fiber cable exports in the EU totaled $2.7B (IndexBox estimates). The total exports indicated a prominent increase from 2013 to 2018: its value increased at an average annual rate of +10.6% over the last five years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, optical fiber cable exports increased by +30.0% against 2014 indices.

Exports by Country

The largest optical fiber cable supplying countries in the European Union were Germany ($515M), France ($409M) and the Netherlands ($343M), together comprising 47% of total exports. Poland, the UK, Romania, Spain and the Czech Republic lagged somewhat behind, together comprising a further 32%.

Romania experienced the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while exports for the other leaders experienced more modest paces of growth.

Imports in the EU

In 2018, optical fiber cable imports totaled $2.7B (IndexBox estimates). The total imports indicated a remarkable increase from 2013 to 2018: its value increased at an average annual rate of +12.8% over the last five years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, optical fiber cable imports increased by +41.2% against 2016 indices. The most prominent rate of growth was recorded in 2017 with an increase of 21% y-o-y. Over the period under review, optical fiber cable imports reached their peak figure in 2018 and are likely to see steady growth in the immediate term.

Imports by Country

Germany ($427M), France ($413M) and the Netherlands ($288M) constituted the countries with the highest levels of imports in 2018, together accounting for 42% of total imports. The UK, Italy, Poland, Spain, Sweden, Romania, the Czech Republic, Ireland and Austria lagged somewhat behind, together accounting for a further 43%.

Ireland experienced the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while imports for the other leaders experienced more modest paces of growth.

Source: IndexBox AI Platform

pears

Global Pears and Quinces Market Rose 2.9% to Reach $26.1B in 2018

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

The global pears and quinces market revenue amounted to $26.1B in 2018, increasing by 2.9% 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).

Pear and Quince Consumption by Country

China (16M tonnes) remains the largest pears and quinces consuming country worldwide, accounting for 65% of total volume. Moreover, pears and quinces consumption in China exceeded the figures recorded by the second-largest consumer, the U.S. (677K tonnes), more than tenfold. Turkey (631K tonnes) ranked third in terms of total consumption with a 2.6% share.

In China, pears and quinces consumption increased at an average annual rate of +1.2% over the period from 2009-2018. The remaining consuming countries recorded the following average annual rates of consumption growth: the U.S. (-1.4% per year) and Turkey (+3.6% per year).

In value terms, China ($16.8B) led the market, alone. The second position in the ranking was occupied by the U.S. ($819M). It was followed by Italy.

The countries with the highest levels of pears and quinces per capita consumption in 2018 were China (11 kg per person), Italy (10 kg per person) and Turkey (7.73 kg per person).

From 2009 to 2018, the most notable rate of growth in terms of pears and quinces per capita consumption, amongst the main consuming countries, was attained by Turkey, while pears and quinces per capita consumption for the other global leaders experienced mixed trends in the per capita consumption figures.

Market Forecast to 2030

Driven by increasing demand for pears and quinces worldwide, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +1.9% for the period from 2018 to 2030, which is projected to bring the market volume to 30M tonnes by the end of 2030.

Pear and Quince Production 2009-2018

In 2018, the amount of pears and quinces produced worldwide amounted to 24M tonnes, approximately equating the previous year. Overall, pears and quinces production, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2011 when production volume increased by 6.7% year-to-year. The global pears and quinces production peaked at 27M tonnes in 2014; however, from 2015 to 2018, production failed to regain its momentum. The general positive trend in terms of pears and quinces output was largely conditioned by a relatively flat trend pattern of the harvested area and a slight expansion in yield figures.

In 2018, approx. 1.5M ha of pears and quinces were harvested worldwide; stabilizing at the previous year. Global average pears and quinces yield totaled 17 tonne per ha in 2018, approximately equating the previous year.

Pear and Quince Exports 2009-2018

In 2018, the amount of pears and quinces exported worldwide amounted to 2.8M tonnes, leveling off at the previous year. The total export volume increased at an average annual rate of +1.6% from 2009 to 2018. In value terms, pears and quinces exports amounted to $2.8B (IndexBox estimates).

Exports by Country

In 2018, China (539K tonnes), followed by the Netherlands (349K tonnes), Argentina (317K tonnes), Belgium (290K tonnes), South Africa (222K tonnes), Italy (158K tonnes), the U.S. (132K tonnes) and Chile (129K tonnes) were the main exporters of pears and quinces, together generating 77% of total exports. Portugal (111K tonnes), Spain (102K tonnes), Turkey (65K tonnes) and Belarus (51K tonnes) occupied a minor share of total exports.

From 2009 to 2018, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by Belarus, while exports for the other global leaders experienced more modest paces of growth.

In value terms, the largest pears and quinces supplying countries worldwide were China ($594M), the Netherlands ($395M) and Argentina ($294M), together accounting for 46% of global exports. These countries were followed by Belgium, Italy, South Africa, the U.S., Chile, Portugal, Spain, Turkey and Belarus, which together accounted for a further 43%.

Among the main exporting countries, Turkey recorded the highest growth rate of the value of exports, over the period under review, while exports for the other global leaders experienced more modest paces of growth.

Export Prices by Country

The average pears and quinces export price stood at $1,003 per tonne in 2018, picking up by 3.9% against the previous year. Over the period under review, the pears and quinces export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of 16% y-o-y. In that year, the average export prices for pears and quinces attained their peak level of $1,146 per tonne. From 2014 to 2018, the growth in terms of the average export prices for pears and quinces failed to regain its momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2018, the country with the highest price was Italy ($1,298 per tonne), while Belarus ($291 per tonne) was amongst the lowest.

From 2009 to 2018, the most notable rate of growth in terms of prices was attained by China, while the other global leaders experienced more modest paces of growth.

Source: IndexBox AI Platform

bear

The Bear is Back: A Global Pandemic

The U.S. stock market fell into a bear market on March 12, 2020, ending the bull market that began in 2009. The bull market had begun on March 9, 2009, and peaked on February 19, 2020. The S&P 500 rose 400% between 2009 and 2020, the Dow Jones Industrials rose 351% between 2009 and 2020 and the NASDAQ Composite rose 674% between 2009 and 2020. However, since February 19, 2020, we have seen dramatic declines in all three.

Figure 1. S&P 500, 2009 to 2020

The GFD US-100 Index provides coverage beginning in 1792. By our calculation, there have been twenty-four bull and bear markets since 1792 with four occurring in the 1800s, seventeen in the 1900s, and three in the 2000s. The worst bear market was in 1929-1932, led by an 89% decline in the Dow Jones Industrials. Two prior bear markets in this century both had declines of 50% in 2000-2002 and 2007-2009. By comparison, previous bear markets, such as those occurring in 1987 and 1990, only lasted a few months before a bounce-back.

What is interesting about this current bear is how quickly and how sharply it hit markets throughout the world in response to the spread of the Coronavirus. This was a quick, simultaneous financial pandemic in every nation of the world. In many countries, the 2020 bear market is simply a continuation of the bear market that began in 2018.

The extent of the bear market in 22 countries and for global indices is provided in Table 1 which uses data from the GFDatabase. The table shows the date of the market top, the value the index hit on that date, the change from the previous market low, the current value of the market, and how much each market has fallen since the top in 2018 or 2020. The only major market in the world which has not fallen into a bear market this year is the Chinese market, the country where the coronavirus originated. However, the Chinese market had already been in a state of decline since 2015.

Figure 2. Shanghai Stock Exchange “A” Shares Index, 2010 to 2020

So far, global markets have fallen by around 30-40%. The question is, how much more are the markets likely to fall?  Will this be a short-lived bear market as occurred in 1987 and 1990 or a more extended bear market as occurred in 2000-2002 and 2007-2009?

Figure 3. United States 10-year Bond Yield, 2010 to 2020

It should be noted that fixed-income markets have already hit their bottom in the United States. This occurred on March 9 when the 10-year bond fell below 0.5% as we had previously predicted in the blog “230 Years of Data Show Rates Will Soon Hit 0.50%.” Yields have slightly risen since then. Moreover, the Shanghai Index bottomed out on February 3, 2020, when the stock market reopened after the Chinese New Year and has not participated in the worldwide sell-off. Both of these indicate that this bear market will not continue for an extended period of time. We will update Table 1 on a regular basis so our readers can follow the changes in this COVID bear market.

Table 1.  COVID Bear Market Statistics for 22 Countries and 4 Regions

 

Country

Index

Market Top

Value

Change

Market  Low

Value

Change

Asia
Australia All-Ordinaries 2/20/2020 7255.2 133.16 3/23/2020 4564.1 -37.09
China Shanghai A Shares 6/12/2015 5410.86 165.15 12/27/2018 2600.05 -51.95
Hong Kong Hang Seng 1/26/2018 33154.12 80.98 3/23/2020 21696.13 -32.76
India BSE Sensex 1/14/2020 41952.63 82.79 3/23/2020 25981.24 -38.07
Japan TOPIX 1/23/2018 1911.31 59.77 3/16/2020 1236.34 -35.31
Singapore FTSE ST All-Share 1/24/2018 877.87 40.38 3/23/2020 540.6 -38.42
South Korea Korea SE Price Index 1/29/2018 2598.19 57.21 3/19/2020 1457.64 -43.90
Taiwan Taiwan Weighted 1/14/2020 12179.81 56.41 3/19/2020 8681.34 -28.72
Europe and Africa
Belgium All-Share 4/13/2015 13859.94 104.31 3/18/2020 7202.21 -48.04
France CAC All-Tradable 2/12/2020 4732.14 56.27 3/18/2020 2888.89 -38.95
Germany CDAX Composite 1/23/2018 625.19 50.07 3/18/2020 363.83 -41.80
Italy FTSE Italia All-Share 2/19/2020 27675.06 39.43 3/12/2020 16286.37 -41.15
Netherlands All-Share Index 2/12/2020 904.31 54.15 3/18/2020 574.88 -36.43
Norway OBX Price 9/25/2018 523.06 70.44 3/16/2020 329.67 -36.92
South Africa FTSE All-Share 1/25/2018 61684.8 246.26 3/19/2020 37963 -38.46
Spain Madrid General 4/13/2015 1203.82 99.78 3/16/2020 608.26 -49.47
Sweden OMX All-Share Price 2/19/2020 732.67 68.35 3/23/2020 478.95 -34.63
Switzerland SPI Price Index 2/19/2020 731.04 140.71 3/16/2020 548.52 -24.97
United Kingdom FTSE-100 5/22/2018 7534.4 99.27 3/23/2020 4993.89 -33.72
Americas
Brazil Bovespa 1/23/2020 119528 217.51 3/23/2020 63451.55 -46.91
Canada TSE-300 2/20/2020 17944.1 51.52 3/23/2020 11228.49 -37.43
Mexico Mexico IPC 7/25/2017 51713.38 206.16 3/23/2020 32936.6 -36.31
United States DJIA 2/12/2020 29551.42 351.37 3/23/2020 18576.04 -37.14
United States S&P 500 2/19/2020 3386.15 400.52 3/23/2020 2236.7 -33.95
United States NASDAQ 2/19/2020 9817.18 58.52 3/23/2020 6860.67 -30.12
Global
Emerging Markets MSCI Emerging Free 1/29/2018 1278.53 85.69 3/23/2020 758.204 -40.7
Europe MSCI Europe 1/25/2018 1926.57 47.52 3/23/2020 1152.698 -40.16
World MSCI World 2/12/2020 2434.95 35.63 3/23/2020 1602.105 -34.2
World MSCI EAFE 1/25/2018 2186.65 46.52 3/23/2020 1354.3 -38.07

 

___________________________________________________________

Dr. Bryan Taylor is President and Chief Economist for Global Financial Data. He received his Ph.D. from Claremont Graduate University in Economics writing about the economics of the arts. He has taught both economics and finance at numerous universities in southern California and in Switzerland. He began putting together the Global Financial Database in 1990, collecting and transcribing financial and economic data from historical archives around the world. Dr. Taylor has published numerous articles and blogs based upon the Global Financial Database, the US Stocks and the GFD Indices. Dr. Taylor’s research has uncovered previously unknown aspects of financial history. He has written two books on financial history.

wildlife

WET MARKETS EXPOSE GLOBAL WILDLIFE TRADE

A Watershed Moment for Preserving Lives – Theirs and Ours

Wildlife trade where exotic animals are sold for parts, food or medicine – even as pets – is multibillion dollar business. One in every five wildlife species is at risk of being ensnared in wildlife trade, driving an estimated 8,775 species to the edge of extinction.

Human consumption of wild animals has long been a public health concern, linked to the origin of outbreaks such as Severe Acute Respiratory Syndrome (SARS), Middle East Respiratory Syndrome (MERS) and Ebola Virus Disease. Nonetheless, China is reopening wet markets where COVID-19 may have originated, albeit with purportedly improved regulations on hygienic conditions.

On February 24, China announced a ban on the sale and consumption of wild animals in China. But China’s Ministry of Finance announced on March 17 it would increase the tax rebate on an array of exported products, including edible snakes and turtles, primate meat, beaver and civet musk and rhino horns.

Wet markets featuring exotic species are not uncommon throughout Asia. Wildlife farms (an oxymoron) also raise animals for traditional medicines. And in an unrelated problem — as uncovered in the recent Netflix hit Tiger King — purveyors of tigers, leopards and other big cats continue to fuel the fantasies of Americans who want selfies with a baby cub. Spoiler alert: at the end of the series, it’s revealed there could be 5,000-10,000 tigers living in captivity in the United States compared with 4,000 in the wild.

Has the strange confluence of Joe Exotic and COVID-19’s potential origins from a bat in a wet market finally brought the world to a watershed moment in wildlife trade?

China Rebates Exports of Wild Exotic Animals

No Trade Without Demand

Attempts to prevent or limit wildlife trade often focus on the supply side. But trade is driven by consumer demand. It’s the demand for wild animals and plants that signals there’s money to be made both illegally and legally.

Wildlife harvested for food encompasses a broad range of practices, from illegally importing ultra-rare exotic animal meat such as African gorillas and elephants, to the sustainable and legal Australian kangaroo meat trade. According to the UN Food and Agriculture Organization, wild meat is often the only available source of animal protein in poverty-stricken areas, where it’s unlikely to be internationally traded.

However, there is evidence that urbanization is driving increased demand in commercial trade of wild meat because of the relatively higher prices paid by urban dwellers. Increasing affluence (particularly in Southeast Asia) has increased demand for wildlife products, which have taken on luxury status. For example, in some Asian countries, consuming certain species is believed to help the eater absorb the animal’s strength and resilience. Nonetheless, consuming wild animals carries significant danger of transmitting zoonotic diseases that can occur through any contact with the animal or meat, via the hunters, middle market distributors, sellers in the market or consumers.

Many wild animals are hunted for the purported medicinal properties of their organs, bones and skin. The endangered pangolin is believed to be the most-trafficked animal in the world. Their scales are ground into various medicines to treat anything from malarial fever and deafness to “demon-possession” in women. Despite the illegality of killing them, huge quantities are still seized by customs officials while being smuggled from their native habitats in India and Myanmar. African wildlife, including crocodiles, elephants and rhinos have long been poached for use in traditional medicine, exported mostly illegally, though some hunting for trade is managed and legal.

Endangered and non-endangered wild animals are also traded and transported live to be sold as exotic pets. According to U.S. pet ownership statistics from 2017-2018, over 18 million U.S. households owned some form of exotic or specialty pet, totaling just shy of 90 million individual animals. This number includes hundreds of species of fish, wild birds, reptiles and mammals like macaws, iguanas and monkeys.

Shifting Trade Routes for US CITES imports

Explanation of Visual Tool and Data

Regulating Legal Wildlife Trade

When picturing international trade in wildlife it’s easy to jump to images from the news of monkeys being smuggled in underwear or elephant poaching in Tanzania. However, a huge amount of wildlife trade occurs legally for breeding, biomedical research, exhibitions, conservation and even law enforcement and forensic work.

The Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) is an international agreement ratified in 1975 to which 183 countries are now a party. It was negotiated to ensure that international trade in specimens of wild animals and plants does not threaten their survival. More than 37,000 species are categorized by the degree of protection they need. Trade in species threatened by extinction is permitted only in exceptional circumstances. Trade must be controlled for species where their utilization is incompatible with their survival. A third category includes species that are protected in at least one country that has asked other CITES parties for assistance in controlling the trade. All forms of trade in animals covered by the agreement must be authorized through export quota and licensing systems.

According to CITES data, over a million legal transactions involving live animals or their by-products such as fur, skins and dried herbs occur each year, and this does not include the millions of transactions involving species not on the CITES protected list. The CITES Trade Database may represent the largest data collection currently available on the sustainable use of wildlife. Each “record” in the database provides details of one permitted shipment (import, export or re-export) of live or dead animals and plants and their parts and derivatives. Below is an example of data extracted from the database on the number of “big cats” covered in the panthera genus that were traded live in a given year.

Number of Big Cats Traded Live Per Year

Participation in CITES aids governments in regulating and monitoring legal trade in animals, supports conservation efforts by making species easier to track, and arguably provides communities with an incentive to keep native populations healthy and thriving, for the subsistence of local communities and as a resource to cultivate for their livelihoods. For example, CITES has supported the growth of community-managed vicuña populations in Bolivia and Peru, which are shorn for valuable fiber.

However, despite the best efforts of agreements such as CITES, the legal trade in animals is still a grey area. Ethical concerns exist over whether there is any acceptable way to transport live animals, and introducing non-native species to new habitats can sometimes wreak unexpected ecological and economic havoc, even with good intentions. The United States imported over 800,000 plants and live animals covered by CITES in 2018, including wolves from Sudan, bears from Canada, and flying foxes from Indonesia.

Illegal Wildlife Trade On Par with Illegal Drugs and Weapons

Illegal international trade in wild animals is worth billions, comparable in size and scope to the illegal drug and weapons trades, making it one of the largest black markets in the world.

Civil conflict and wildlife trafficking often go hand in hand. In countries mired in conflict and suffering from weak governance, criminal organizations and militia groups are reaping huge sums of money from wildlife trafficking with terrible knock-on effects for society along with the animal population. In the Democratic Republic of Congo, for example, armed groups sustain conflict from the money made from poaching and illegal wildlife trafficking. Youth are being torn from their families, conscripted into poaching, while the community suffers violence and economic setbacks.

A Pivotal Moment in Wildlife Trade

What more can be done to protect wildlife? One solution is to reduce consumer demand. China has increased public health and safety warnings about the consumption of wild animals and has conducted raids and arrests for those found catching or selling wild animals. The U.S. Agency for International Development created targeted campaigns using celebrities to try and reduce ivory demand. An organization called Change Wildlife Consumers is attempting to use behavioral science to influence consumer behavior.

With renewed scrutiny on wildlife trade due to its impacts on human health and the health of native species and habitats, the stage may be set for governments to impose stricter prohibitions on wildlife trade. But if demand persists, wildlife markets and similar activities may be driven underground, making it riskier but more lucrative for unscrupulous traffickers to deal in wildlife trade.

Joe Exotic landed in jail for other crimes. Meanwhile, wet markets and trade in wild animals remains both a threat to animal survival as well as to the health of humans and our economies on a global scale.

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Alice Calder received her MA in Applied Economics at GMU. Originally from the UK, where she received her BA in Philosophy and Political Economy from the University of Exeter, living and working internationally sparked her interest in trade issues as well as the intersection of economics and culture.

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

onion

Overview of the Onion And Shallot Market in Asia-Pacific

IndexBox has just published a new report: ‘Asia-Pacific – Onion And Shallots – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

The revenue of the onion and shallot market in Asia-Pacific amounted to $24.6B in 2018, increasing by 3.9% against the previous year. Driven by increasing demand for onion and shallot in Asia-Pacific, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +2.3% for the period from 2018 to 2030, which is projected to bring the market volume to 77M tonnes by the end of 2030.

Consumption by Country

The countries with the highest volumes of onion and shallot consumption in 2018 were China (25M tonnes), India (20M tonnes) and Pakistan (2.1M tonnes), together comprising 80% of total consumption. South Korea, Bangladesh, Japan, Indonesia and Myanmar lagged somewhat behind, together comprising a further 15%.

From 2013 to 2018, the most notable rate of growth in terms of onion and shallot consumption, amongst the main consuming countries, was attained by Bangladesh, while onion and shallot consumption for the other leaders experienced more modest paces of growth.

In value terms, China ($13.7B) led the market, alone. The second position in the ranking was occupied by India ($5.4B). It was followed by Indonesia.

In 2018, the highest levels of onion and shallot per capita consumption was registered in South Korea (40 kg per person), followed by Myanmar (18 kg per person), China (17 kg per person) and Japan (15 kg per person), while the world average per capita consumption of onion and shallot was estimated at 14 kg per person.

Production in Asia-Pacific

In 2018, the amount of onions and shallots produced in Asia-Pacific totaled 60M tonnes, approximately mirroring the previous year. The total output volume increased at an average annual rate of +2.5% from 2013 to 2018; the trend pattern remained relatively stable, with only minor fluctuations being observed over the period under review. The general positive trend in terms of onion and shallot output was largely conditioned by a moderate expansion of the harvested area and a relatively flat trend pattern in yield figures.

In 2018, the onion and shallot harvested area amounted to 3.3M ha, while the average yield stood at 18 tonne per ha.

Production by Country

The countries with the highest volumes of onion and shallot production in 2018 were China (26M tonnes), India (22M tonnes) and Pakistan (2.1M tonnes), with a combined 84% share of total production. These countries were followed by South Korea, Bangladesh, Japan and Indonesia, which together accounted for a further 12%.

From 2013 to 2018, the most notable rate of growth in terms of onion and shallot production, amongst the main producing countries, was attained by Bangladesh, while onion and shallot production for the other leaders experienced more modest paces of growth.

Exports in Asia-Pacific

In 2018, the exports of onions and shallots in Asia-Pacific amounted to 3M tonnes, approximately equating the previous year.

In value terms, onion and shallot exports totaled $1.1B (IndexBox estimates).

Exports by Country

India represented the largest exporter of onions and shallots in Asia-Pacific, with the volume of exports resulting at 1.7M tonnes, which was near 55% of total exports in 2018. It was distantly followed by China (968K tonnes), creating a 32% share of total exports. New Zealand (134K tonnes), Pakistan (64K tonnes) and Afghanistan (62K tonnes) occupied a minor share of total exports.

From 2013 to 2018, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by China, while exports for the other leaders experienced mixed trends in the exports figures.

In value terms, China ($564M), India ($420M) and New Zealand ($62M) were the countries with the highest levels of exports in 2018, together comprising 93% of total exports.

Export Prices by Country

In 2018, the onion and shallot export price in Asia-Pacific amounted to $371 per tonne, going down by -1.5% against the previous year. Overall, the onion and shallot export price continues to indicate a measured deduction. The growth pace was the most rapid in 2015 an increase of 41% against the previous year. In that year, the export prices for onions and shallots attained their peak level of $450 per tonne. From 2016 to 2018, the growth in terms of the export prices for onions and shallots failed to regain its momentum.

Prices varied noticeably by the country of origin; the country with the highest price was China ($583 per tonne), while Afghanistan ($167 per tonne) was amongst the lowest.

From 2013 to 2018, the most notable rate of growth in terms of prices was attained by China, while the other leaders experienced mixed trends in the export price figures.

Source: IndexBox AI Platform

masks

Global Imports of Breathing Appliances and Gas Masks Recorded the Highest Growth Before the COVID-19 Pandemic

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

Global Trade of Breathing Appliances and Gas Masks  2013-2018

In 2018, the amount of breathing appliances and gas masks exported worldwide totaled $1.7B (IndexBox estimates). The total export value increased at an average annual rate of +5.5% over the period from 2013 to 2018; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when exports increased by 15% year-to-year. In that year, global breathing appliances exports reached their peak.

Exports by Country

The U.S. ($375M), Germany ($332M) and the UK ($279M) were the countries with the highest levels of exports in 2018, together accounting for 57% of global exports. These countries were followed by France, China, Poland, Australia, Taiwan, Chinese, Canada, Russia, South Korea and Mexico, which together accounted for a further 27%.

Poland experienced the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while exports for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2018, the average breathing appliances export price amounted to $64,941 per tonne, going up by 6% against the previous year. Over the period from 2013 to 2018, it increased at an average annual rate of +5.1%. The growth pace was the most rapid in 2017 when the average export price increased by 14% year-to-year. Over the period under review, the average export prices for breathing appliances and gas masks reached their maximum in 2018 and is expected to retain 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 France ($109,043 per tonne), while Mexico ($12,629 per tonne) was amongst the lowest.

From 2013 to 2018, the most notable rate of growth in terms of prices was attained by Russia, while the other global leaders experienced more modest paces of growth.

Imports by Country

In value terms, the U.S. ($232M), Germany ($187M) and Canada ($96M) appeared to be the countries with the highest levels of imports in 2018, with a combined 30% share of global imports. The UK, France, Australia, China, Denmark, the Netherlands, South Korea, Chile and Indonesia lagged somewhat behind, together accounting for a further 27%.

Denmark recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while imports for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average breathing appliances import price stood at $61,064 per tonne in 2018, growing by 2.7% against the previous year. Over the last five-year period, it increased at an average annual rate of +2.7%. The most prominent rate of growth was recorded in 2014 when the average import price increased by 8.7% year-to-year.

There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was Australia ($85,291 per tonne), while Indonesia ($26,559 per tonne) was amongst the lowest.

From 2013 to 2018, the most notable rate of growth in terms of prices was attained by Australia, while the other global leaders experienced more modest paces of growth.

Source: IndexBox AI Platform