U.S. Sausage Exports
In June 2023, overseas shipments of sausage, canned meat, and meat by-product decreased by -1.2% to 120K tons, falling for the second month in a row after two months of growth. Over the period under review, exports saw a noticeable decline. The pace of growth was the most pronounced in December 2022 with an increase of 21% against the previous month. As a result, the exports attained the peak of 172K tons. From January 2023 to June 2023, the growth of the exports remained at a lower figure.
In value terms, sausage exports reduced modestly to $108M (IndexBox estimates) in June 2023. Overall, exports recorded a noticeable decrease. The pace of growth appeared the most rapid in December 2022 with an increase of 44% month-to-month. As a result, the exports attained the peak of $187M. From January 2023 to June 2023, the growth of the exports remained at a somewhat lower figure.
Exports by Country
Indonesia (23K tons), China (21K tons) and Mexico (20K tons) were the main destinations of sausage exports from the United States, together comprising 54% of total exports.
From June 2022 to June 2023, the biggest increases were in China (with a CAGR of +6.0%), while shipments for the other leaders experienced mixed trend patterns.
In value terms, the largest markets for sausage exported from the United States were China ($24M), Mexico ($17M) and Canada ($17M), together accounting for 54% of total exports.
In terms of the main countries of destination, China, with a CAGR of +6.4%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.
Export Prices by Country
In June 2023, the sausage price amounted to $901 per ton (FOB, US), which is down by -3.6% against the previous month. In general, the export price continues to indicate a slight setback. The pace of growth was the most pronounced in December 2022 an increase of 19% month-to-month. Over the period under review, the average export prices attained the peak figure at $1,092 per ton in April 2023; however, from May 2023 to June 2023, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major overseas markets. In June 2023, the country with the highest price was Singapore ($4,250 per ton), while the average price for exports to Vietnam ($520 per ton) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+9.5%), while the prices for the other major destinations experienced mixed trend patterns.
Source: IndexBox Market Intelligence Platform
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