Italy's Table Flatware Price Dives 22%, Hitting $29.0 per kg

Italy Table Flatware Export Price in June 2023

In June 2023, the table flatware price amounted to $28,983 per ton (FOB, Italy), dropping by -21.6% against the previous month. In general, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in November 2022 when the average export price increased by 15% month-to-month. Over the period under review, the average export prices attained the peak figure at $36,958 per ton in May 2023, and then dropped markedly in the following month.

There were significant differences in the average prices for the major external markets. In June 2023, the country with the highest price was the United States ($104K per ton), while the average price for exports to Israel ($10,231 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 France (+2.1%), while the prices for the other major destinations experienced more modest paces of growth.

Italy Table Flatware Export Prices by Type

There were significant differences in the average prices for the major types of exported product. In June 2023, the product with the highest price was cutlery; (eg spoons, forks, ladles, skimmers, cake-servers, fish-knives, butter-knives, sugar tongs and similar), plated with precious metal, not in sets ($221K per ton), while the average price for exports of cutlery; sets of assorted articles (eg spoons, forks, ladles, skimmers, cake-servers, fish-knives, butter-knives, sugar tongs and similar), with at least one article plated with precious metal ($13,563 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 the following types: cutlery; (eg spoons, forks, ladles, skimmers, cake-servers, fish-knives, butter-knives, sugar tongs and similar), plated with precious metal, not in sets (+4.3%), while the prices for the other products experienced more modest paces of growth.

Italy Table Flatware Exports

In June 2023, approximately 260 tons of table flatware were exported from Italy; with a decrease of -8.8% on May 2023 figures. Overall, exports saw a slight descent. The most prominent rate of growth was recorded in February 2023 when exports increased by 40% m-o-m.

In value terms, table flatware exports reduced rapidly to $7.5M (IndexBox estimates) in June 2023. In general, exports showed a mild setback. The growth pace was the most rapid in May 2023 when exports increased by 45% month-to-month. As a result, the exports attained the peak of $11M, and then reduced notably in the following month.

Italy Table Flatware Exports by Type

Cutlery; other than plated with precious metal (100 tons), cutlery; sets of assorted articles (eg spoons, forks, ladles, skimmers, cake-servers, fish-knives, butter knives, sugar tongs and similar), not plated with precious metal (97 tons) and cutlery; sets of assorted articles (eg spoons, forks, ladles, skimmers, cake-servers, fish-knives, butter-knives, sugar tongs and similar), with at least one article plated with precious metal (62 tons) were the main products of table flatware exports from Italy, with a combined 99% share of total exports.

From June 2022 to June 2023, the most notable rate of growth in terms of shipments, amongst the major product types, was attained by cutlery; sets of assorted articles (eg spoons, forks, ladles, skimmers, cake-servers, fish-knives, butter-knives, sugar tongs and similar), with at least one article plated with precious metal (with a CAGR of +2.5%), while the other products experienced mixed trend patterns.

In value terms, the most traded types of table flatware in Italy were cutlery; sets of assorted articles (eg spoons, forks, ladles, skimmers, cake-servers, fish-knives, butter knives, sugar tongs and similar), not plated with precious metal ($3.3M), cutlery; other than plated with precious metal ($3M) and cutlery; sets of assorted articles (eg spoons, forks, ladles, skimmers, cake-servers, fish-knives, butter-knives, sugar tongs and similar), with at least one article plated with precious metal ($836K), together accounting for 95% of total exports.

Cutlery; other than plated with precious metal, with a CAGR of +0.6%, saw the highest rates of growth with regard to the value of exports, among the main product categories over the period under review, while shipments for the other products experienced a decline.

Italy Table Flatware Exports by Country

Germany (48 tons), France (41 tons) and Spain (21 tons) were the main destinations of table flatware exports from Italy, together accounting for 42% of total exports. Romania, Croatia, the United States, Turkey, Greece, Serbia, Latvia, Israel and the Netherlands lagged somewhat behind, together comprising a further 27%.

From June 2022 to June 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Turkey (with a CAGR of +14.7%), while the other leaders experienced more modest paces of growth.

In value terms, France ($1.1M), the United States ($918K) and Germany ($567K) were the largest markets for table flatware exported from Italy worldwide, together comprising 34% of total exports. Spain, Croatia, Greece, Romania, the Netherlands, Turkey, Serbia, Latvia and Israel lagged somewhat behind, together accounting for a further 23%.

Among the main countries of destination, Turkey, with a CAGR of +6.9%, 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