Price for Food Preparations Not Elsewhere Specified or Included in Australia - 2024
Contents:
- Price for Food Preparations Not Elsewhere Specified or Included in Australia (CIF) - 2024
- Price for Food Preparations Not Elsewhere Specified or Included in Australia (FOB) - 2024
- Imports of Food Preparations Not Elsewhere Specified or Included in Australia
- Exports of Food Preparations Not Elsewhere Specified or Included in Australia
Price for Food Preparations Not Elsewhere Specified or Included in Australia (CIF) - 2024
In January 2024, the average import price for food preparations not elsewhere specified or included amounted to $6,630 per ton, waning by -8.2% against the previous month. Overall, the import price saw a mild decline. The growth pace was the most rapid in April 2023 an increase of 39% m-o-m. As a result, import price attained the peak level of $9,599 per ton. From May 2023 to January 2024, the average import prices remained at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In January 2024, the country with the highest price was Singapore ($31,784 per ton), while the price for Japan ($1,392 per ton) was amongst the lowest.
From January 2023 to January 2024, the most notable rate of growth in terms of prices was attained by New Zealand (+3.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Food Preparations Not Elsewhere Specified or Included in Australia (FOB) - 2024
The average export price for food preparations not elsewhere specified or included stood at $8,177 per ton in January 2024, with an increase of 3.5% against the previous month. In general, the export price, however, continues to indicate a perceptible decrease. The most prominent rate of growth was recorded in March 2023 an increase of 28% month-to-month. Over the period under review, the average export prices reached the peak figure at $13,172 per ton in May 2023; however, from June 2023 to January 2024, the export prices stood at a somewhat lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was Hong Kong SAR ($36,473 per ton), while the average price for exports to Japan ($2,303 per ton) was amongst the lowest.
From January 2023 to January 2024, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (+5.0%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Food Preparations Not Elsewhere Specified or Included in Australia
For the third consecutive year, Australia recorded decline in purchases abroad of food preparations not elsewhere specified or included, which decreased by -1.8% to 240K tons in 2022. In general, imports saw a abrupt curtailment. The smallest decline of less than 0.1% was in 2020.
In value terms, imports of food preparations not elsewhere specified or included amounted to $1.7B in 2022. The total import value increased at an average annual rate of +3.9% over the period from 2019 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 14% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the immediate term.
| Import of Food Preparations Not Elsewhere Specified or Included in Australia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Singapore | 402 | 379 | 461 | 434 | 2.6% |
| New Zealand | 375 | 296 | 274 | 250 | -12.6% |
| United States | 181 | 176 | 206 | 202 | 3.7% |
| China | 72.2 | 78.7 | 97.7 | 133 | 22.6% |
| Denmark | 38.1 | 39.8 | 51.2 | 71.6 | 23.4% |
| Thailand | 51.1 | 58.6 | 56.0 | 70.6 | 11.4% |
| Netherlands | 85.4 | 94.5 | 72.0 | 56.4 | -12.9% |
| Malaysia | 30.5 | 32.0 | 42.8 | 54.8 | 21.6% |
| Indonesia | 12.4 | 12.8 | 43.0 | 48.8 | 57.9% |
| Japan | 40.4 | 37.9 | 21.7 | 41.1 | 0.6% |
| Taiwan (Chinese) | 22.0 | 22.0 | 33.7 | 37.6 | 19.6% |
| India | 13.9 | 18.4 | 23.5 | 33.7 | 34.3% |
| South Korea | 7.8 | 13.2 | 14.3 | 17.1 | 29.9% |
| Others | 211 | 232 | 296 | 282 | 10.2% |
| Total | 1,543 | 1,491 | 1,693 | 1,732 | 3.9% |
Top Suppliers of Food Preparations Not Elsewhere Specified or Included to Australia in 2022:
- Thailand (31.5K tons)
- Japan (26.7K tons)
- New Zealand (22.9K tons)
- Malaysia (19.1K tons)
- United States (16.7K tons)
- China (16.0K tons)
- Netherlands (11.3K tons)
- Taiwan (Chinese) (10.0K tons)
- South Korea (9.7K tons)
- Singapore (8.7K tons)
- Indonesia (8.3K tons)
- India (8.1K tons)
- Denmark (8.0K tons)
Exports of Food Preparations Not Elsewhere Specified or Included in Australia
For the third consecutive year, Australia recorded decline in shipments abroad of food preparations not elsewhere specified or included, which decreased by -8% to 77K tons in 2022. In general, exports recorded a abrupt decrease. The smallest decline of -1.1% was in 2021.
In value terms, exports of food preparations not elsewhere specified or included reduced to $692M in 2022. Overall, exports showed a abrupt shrinkage.
| Export of Food Preparations Not Elsewhere Specified or Included in Australia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 403 | 362 | 311 | 306 | -8.8% |
| New Zealand | 109 | 106 | 114 | 136 | 7.7% |
| United States | 38.0 | 30.1 | 34.6 | 35.1 | -2.6% |
| Thailand | 8.4 | 17.9 | 33.6 | 26.9 | 47.4% |
| Vietnam | 14.2 | 24.0 | 21.2 | 26.3 | 22.8% |
| Hong Kong SAR | 116 | 97.0 | 34.9 | 23.2 | -41.5% |
| Japan | 20.6 | 26.9 | 23.5 | 18.1 | -4.2% |
| Papua New Guinea | 5.1 | 5.2 | 5.1 | 16.1 | 46.7% |
| Malaysia | 12.0 | 12.9 | 31.3 | 13.8 | 4.8% |
| Singapore | 11.5 | 13.9 | 16.2 | 11.8 | 0.9% |
| Philippines | 3.8 | 2.7 | 4.7 | 11.8 | 45.9% |
| South Korea | 27.9 | 23.3 | 15.1 | 10.4 | -28.0% |
| Indonesia | 4.9 | 6.8 | 19.3 | 6.1 | 7.6% |
| Others | 56.1 | 51.6 | 47.6 | 50.2 | -3.6% |
| Total | 831 | 780 | 712 | 692 | -5.9% |
Top Export Markets for Food Preparations Not Elsewhere Specified or Included from Australia in 2022:
- New Zealand (33.0K tons)
- China (12.3K tons)
- Japan (6.6K tons)
- Philippines (3.0K tons)
- Papua New Guinea (2.4K tons)
- United States (1.9K tons)
- Singapore (1.8K tons)
- Thailand (1.8K tons)
- Malaysia (1.7K tons)
- Vietnam (1.7K tons)
- Hong Kong SAR (1.7K tons)
- Indonesia (1.3K tons)
- South Korea (0.8K tons)
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