Preserved Peas Prices in China
China Preserved Peas Export Price in September 2022
In September 2022, the preserved peas price stood at $1,072 per ton (FOB, China), increasing by 24% against the previous month. Overall, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in May 2022 when the average export price increased by 45% against the previous month. The export price peaked at $1,406 per ton in February 2022; however, from March 2022 to September 2022, the export prices failed to regain momentum.
There were significant differences in the average prices for the major export markets. In September 2022, the country with the highest price was the United States ($1,948 per ton), while the average price for exports to Yemen ($574 per ton) was amongst the lowest.
From January 2022 to September 2022, the most notable rate of growth in terms of prices was recorded for supplies to Turkmenistan (+163.8%), while the prices for the other major destinations experienced more modest paces of growth.
China Preserved Peas Exports
In September 2022, after two months of growth, there was decline in shipments abroad of preserved peas, when their volume decreased by -2.5% to 1.6K tons. Over the period under review, total exports indicated a prominent expansion from January 2022 to September 2022: its volume increased at an average monthly rate of +5.2% over the last eight months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on September 2022 figures, exports increased by +63.2% against June 2022 indices. The pace of growth was the most pronounced in March 2022 when exports increased by 34% month-to-month. The exports peaked at 1.7K tons in August 2022, and then dropped in the following month.
In value terms, preserved peas exports skyrocketed to $1.8M (IndexBox estimates) in September 2022. Overall, total exports indicated a notable expansion from January 2022 to September 2022: its value increased at an average monthly rate of +4.6% over the last eight months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on September 2022 figures, exports decreased by -3.6% against July 2022 indices. The most prominent rate of growth was recorded in July 2022 with an increase of 64% month-to-month. As a result, the exports reached the peak of $1.8M; afterwards, it flattened through to September 2022.
China Preserved Peas Exports by Country
Nigeria (319 tons), the Philippines (276 tons) and Turkmenistan (224 tons) were the main destinations of preserved peas exports from China, with a combined 50% share of total exports. Russia, the United States, Yemen, Mongolia and Chile lagged somewhat behind, together accounting for a further 33%.
From January 2022 to September 2022, the biggest increases were in Russia (with a CAGR of +23.4%), while shipments for the other leaders experienced more modest paces of growth.
In value terms, the largest markets for preserved peas exported from China were Turkmenistan ($393K), the Philippines ($242K) and Nigeria ($239K), with a combined 50% share of total exports.
Turkmenistan, with a CAGR of +182.3%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.
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