Chicken Meat Price per Ton June 2022

U.S. Chicken Meat Export Price per Ton June 2022

In June 2022, the chicken meat price per ton amounted to $1,507 (FOB, US), picking up by 18% against the previous month. Over the period from January 2022 to June 2022, it increased at an average monthly rate of +3.4%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by the country of destination: the country with the highest price was Canada ($3,751 per ton), while the average price for exports to Georgia ($878 per ton) was amongst the lowest.

From January 2022 to June 2022, the most notable rate of growth in terms of prices was recorded for supplies to Angola (+25.9%), while the prices for the other major destinations experienced more modest paces of growth.

U.S. Chicken Meat Export Prices by Type

The average chicken meat export price stood at $1,507 per ton in June 2022, rising by 18% against the previous month. Over the last five-month period, it increased at an average monthly rate of +3.4%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major types of exported product. In June 2022, the highest price was recorded for prices to fresh or chilled cuts of chicken ($1,756 per ton) and frozen whole chickens ($1,712 per ton), while the average price for exports of fresh or chilled whole chickens ($1,253 per ton) and frozen cuts of chicken ($1,460 per ton) were amongst the lowest.

From January 2022 to June 2022, the most notable rate of growth in terms of prices was recorded for the following types: frozen whole chicken (+13.2%), while the prices for the other products experienced more modest paces of growth.

U.S. Chicken Meat Exports

Chicken meat exports from the United States reduced to 316K tons in June 2022, shrinking by -6.3% against May 2022. The total export volume increased at an average monthly rate of +2.3% from January 2022 to June 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in February 2022 when exports increased by 13% against the previous month. The exports peaked at 338K tons in May 2022, and then dropped in the following month.

In value terms, chicken meat exports expanded sharply to $477M (IndexBox estimates) in June 2022. The total export value increased at an average monthly rate of +5.8% from January 2022 to June 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain months. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

U.S. Chicken Meat Exports by Type

Frozen cuts of chicken (264K tons) was the largest type of chicken meat exported from the United States, accounting for a 83% share of total exports. Moreover, frozen cuts of chicken exceeded the volume of the second product type, fresh or chilled cuts of chicken (50K tons), fivefold. Frozen whole chickens (1.8K tons) ranked third in terms of total exports with a 0.6% share.

From January 2022 to June 2022, the average monthly rate of growth in terms of the volume of export of frozen cuts of chicken amounted to +2.9%. With regard to the other exported products, the following average monthly rates of growth were recorded: fresh or chilled cuts of chicken (+1.2% per month) and frozen whole chickens (-21.7% per month).

In value terms, frozen cuts of chicken ($386M) remains the largest type of chicken meat exported from the United States, comprising 81% of total exports. The second position in the ranking was held by fresh or chilled cuts of chicken ($87M), with an 18% share of total exports. It was followed by frozen whole chickens, with a 0.6% share.

From January 2022 to June 2022, the average monthly growth rate of the export volume of frozen cuts of chicken stood at +5.9%. With regard to the other exported products, the following average monthly rates of growth were recorded: fresh or chilled cuts of chicken (+6.3% per month) and frozen whole chickens (-11.4% per month).

U.S. Chicken Meat Exports by Country

China (59K tons), Mexico (53K tons) and Taiwan (Chinese) (28K tons) were the main destinations of chicken meat exports from the United States, with a combined 44% share of total exports. These countries were followed by Cuba, the Philippines, Angola, Canada, Vietnam, Guatemala, Ghana, Haiti, Georgia and Congo, which together accounted for a further 34%.

From January 2022 to June 2022, the biggest increases were in Vietnam (with a CAGR of +22.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($104M), Mexico ($70M) and Canada ($41M) constituted the largest markets for chicken meat exported from the United States worldwide, together accounting for 45% of total exports. Taiwan (Chinese), Angola, Cuba, the Philippines, Guatemala, Vietnam, Haiti, Ghana, Congo and Georgia lagged somewhat behind, together accounting for a further 35%.

In terms of the main countries of destination, Vietnam, with a CAGR of +25.2%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform