Price for Food Preparations Not Elsewhere Specified or Included in Pakistan - 2023
Contents:
- Price for Food Preparations Not Elsewhere Specified or Included in Pakistan (FOB) - 2023
- Price for Food Preparations Not Elsewhere Specified or Included in Pakistan (CIF) - 2023
- Exports of Food Preparations Not Elsewhere Specified or Included in Pakistan
- Imports of Food Preparations Not Elsewhere Specified or Included in Pakistan
Price for Food Preparations Not Elsewhere Specified or Included in Pakistan (FOB) - 2023
In July 2023, the average export price for food preparations not elsewhere specified or included amounted to $2,940 per ton, remaining constant against the previous month. Over the period from July 2022 to July 2023, it increased at an average monthly rate of +1.9%. The pace of growth was the most pronounced in April 2023 an increase of 28% against the previous month. Over the period under review, the average export prices attained the peak figure at $3,031 per ton in October 2022; however, from November 2022 to July 2023, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major foreign markets. In July 2023, the country with the highest price was Saudi Arabia ($5,161 per ton), while the average price for exports to the United Arab Emirates ($1,885 per ton) was amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (+6.9%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Food Preparations Not Elsewhere Specified or Included in Pakistan (CIF) - 2023
The average import price for food preparations not elsewhere specified or included stood at $3,862 per ton in July 2023, falling by -37.7% against the previous month. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in June 2023 an increase of 54% month-to-month. As a result, import price reached the peak level of $6,200 per ton, and then fell significantly in the following month.
There were significant differences in the average prices amongst the major supplying countries. In July 2023, the country with the highest price was the United States ($7,855 per ton), while the price for Argentina ($1,202 per ton) was amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by the United States (+5.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Food Preparations Not Elsewhere Specified or Included in Pakistan
For the fourth consecutive year, Pakistan recorded growth in overseas shipments of food preparations not elsewhere specified or included, which increased by 37% to 55K tons in 2022. Overall, exports continue to indicate a significant expansion. The growth pace was the most rapid in 2021 with an increase of 55% against the previous year. Over the period under review, the exports of reached the peak figure in 2022 and are expected to retain growth in years to come.
In value terms, exports of food preparations not elsewhere specified or included surged to $133M in 2022. In general, exports saw a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Food Preparations Not Elsewhere Specified or Included in Pakistan (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Afghanistan | 16.4 | 21.2 | 34.6 | 76.0 | 66.7% |
| Canada | 0.5 | 1.4 | 1.6 | 21.2 | 248.7% |
| United States | 1.6 | 4.3 | 5.9 | 4.7 | 43.2% |
| Syrian Arab Republic | 1.7 | 3.9 | 1.8 | 3.7 | 29.6% |
| United Arab Emirates | 1.8 | 1.1 | 2.5 | 3.4 | 23.6% |
| Lebanon | 0.5 | N/A | 1.6 | 2.7 | 75.4% |
| United Kingdom | 1.3 | 1.7 | 2.4 | 2.6 | 26.0% |
| Turkey | 0.1 | 0.7 | 0.7 | 2.5 | 192.4% |
| Qatar | 2.2 | 1.7 | 1.7 | 1.6 | -10.1% |
| Saudi Arabia | 1.7 | 8.3 | 2.5 | 1.5 | -4.1% |
| Others | 3.8 | 7.2 | 22.9 | 13.2 | 51.4% |
| Total | 31.5 | 51.5 | 78.2 | 133 | 61.6% |
Top Export Markets for Food Preparations Not Elsewhere Specified or Included from Pakistan in 2022:
- Afghanistan (29.4K tons)
- Canada (8.4K tons)
- United Arab Emirates (2.7K tons)
- United States (1.7K tons)
- United Kingdom (1.5K tons)
- Syrian Arab Republic (1.3K tons)
- Saudi Arabia (1.2K tons)
- Turkey (1.1K tons)
- Qatar (1.1K tons)
- Lebanon (0.9K tons)
Imports of Food Preparations Not Elsewhere Specified or Included in Pakistan
In 2022, imports of food preparations not elsewhere specified or included into Pakistan expanded significantly to 20K tons, increasing by 11% on the previous year. Over the period under review, imports, however, recorded a abrupt setback. The pace of growth was the most pronounced in 2021 when imports increased by 24%.
In value terms, imports of food preparations not elsewhere specified or included reduced to $75M in 2022. The total import value increased at an average annual rate of +4.1% from 2019 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth was the most pronounced in 2021 with an increase of 24% against the previous year. As a result, imports reached the peak of $76M, and then declined modestly in the following year.
| Import of Food Preparations Not Elsewhere Specified or Included in Pakistan (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 13.6 | 12.1 | 16.9 | 15.4 | 4.2% |
| Malaysia | 3.3 | 4.0 | 6.8 | 12.1 | 54.2% |
| Egypt | 4.9 | 5.9 | 7.0 | 9.5 | 24.7% |
| Thailand | 3.3 | 3.6 | 3.8 | 6.1 | 22.7% |
| Turkey | 4.6 | 4.8 | 4.8 | 4.7 | 0.7% |
| China | 2.9 | 2.1 | 4.9 | 4.3 | 14.0% |
| United Kingdom | 2.4 | 2.0 | 2.8 | 3.1 | 8.9% |
| Ireland | 1.5 | 1.7 | 1.5 | 2.5 | 18.6% |
| South Africa | 2.1 | 2.1 | 2.2 | 2.0 | -1.6% |
| United States | 4.1 | 2.6 | 2.9 | 1.9 | -22.6% |
| Germany | 0.8 | 0.8 | 1.1 | 1.7 | 28.6% |
| Denmark | 2.5 | 3.5 | 4.3 | 1.4 | -17.6% |
| Singapore | 3.5 | 3.7 | 2.7 | 1.2 | -30.0% |
| Others | 17.1 | 12.4 | 14.2 | 9.3 | -18.4% |
| Total | 66.6 | 61.2 | 76.0 | 75.0 | 4.0% |
Top Suppliers of Food Preparations Not Elsewhere Specified or Included to Pakistan in 2022:
- Netherlands (3.2K tons)
- Malaysia (3.2K tons)
- Egypt (2.9K tons)
- Thailand (1.8K tons)
- Turkey (1.5K tons)
- China (1.2K tons)
- Ireland (0.8K tons)
- South Africa (0.6K tons)
- United Kingdom (0.6K tons)
- United States (0.5K tons)
- Germany (0.4K tons)
- Denmark (0.3K tons)
- Singapore (0.3K tons)
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