U.S. Frozen Vegetable Import Price per Ton August 2022
In August 2022, the frozen vegetable price per ton amounted to $1,289, rising by 3.7% against the previous month. Over the last seven months, it increased at an average monthly rate of +1.2%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.
There were significant differences in the average prices amongst the major supplying countries. In August 2022, the country with the highest price was Mexico ($1,625 per ton), while the price for China ($931 per ton) was amongst the lowest.
From January 2022 to August 2022, the most notable rate of growth in terms of prices was attained by Belgium (+2.4%), while the prices for the other major suppliers experienced more modest paces of growth.
U.S. Frozen Vegetable Import Prices by Type
Average prices varied noticeably amongst the major supplied products. In August 2022, the product with the highest price was frozen vegetables other than potato and corn ($1,411 per ton), while the price for frozen sweet corn ($1,212 per ton) was amongst the lowest.
From January 2022 to August 2022, the most notable rate of growth in terms of prices was attained by frozen sweet corn (+2.1%), while the prices for the other products experienced more modest paces of growth.
U.S. Frozen Vegetable Imports
Frozen vegetable imports into the United States contracted modestly to 164K tons in August 2022, with a decrease of -4% against the previous month. Overall, imports showed a perceptible decline. The most prominent rate of growth was recorded in March 2022 with an increase of 26% m-o-m. As a result, imports reached the peak of 245K tons. From April 2022 to August 2022, the growth of imports remained at a somewhat lower figure.
In value terms, frozen vegetable imports dropped to $211M (IndexBox estimates) in August 2022. In general, imports showed a pronounced contraction. The growth pace was the most rapid in March 2022 when imports increased by 25% against the previous month. As a result, imports attained the peak of $297M. From April 2022 to August 2022, the growth of imports remained at a lower figure.
U.S. Frozen Vegetable Imports by Type
Frozen potatoes (102K tons), frozen vegetables other than potato and corn (60K tons) and frozen sweet corn (2.1K tons) were the main products of frozen vegetable imports to the United States.
From January 2022 to August 2022, the biggest increases were in frozen potato (with a CAGR of -1.5%), while purchases for the other products experienced a decline.
In value terms, the most traded types of frozen vegetables in the United States were frozen potatoes ($124M), frozen vegetables other than potato and corn ($84M) and frozen sweet corn ($2.5M).
U.S. Frozen Vegetable Imports by Country
In August 2022, Canada (93K tons) constituted the largest frozen vegetable supplier to the United States, accounting for a 57% share of total imports. Moreover, frozen vegetable imports from Canada exceeded the figures recorded by the second-largest supplier, Mexico (24K tons), fourfold. The third position in this ranking was taken by Belgium (13K tons), with an 8.2% share.
From January 2022 to August 2022, the average monthly growth rate of volume from Canada totaled -2.6%. The remaining supplying countries recorded the following average monthly rates of imports growth: Mexico (-6.5% per month) and Belgium (-3.0% per month).
In value terms, Canada ($114M) constituted the largest supplier of frozen vegetable to the United States, comprising 54% of total imports. The second position in the ranking was taken by Mexico ($39M), with a 19% share of total imports. It was followed by Belgium, with a 7% share.
From January 2022 to August 2022, the average monthly rate of growth in terms of value from Canada was relatively modest. The remaining supplying countries recorded the following average monthly rates of imports growth: Mexico (-5.3% per month) and Belgium (-0.7% per month).
Source: https://www.indexbox.io/blog/frozen-vegetable-price-per-ton-august-2022/
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