In 2020, the average turkey meat export price amounted to $1,945 per tonne, with a decrease of -2.4% against the previous year.
Exports to the other major destinations recorded the following average annual rates of exports growth: China (-3.0% per year) and the Dominican Republic (+0.2% per year). In value terms, Mexico ($262M) remains the key foreign market for turkey meat exports from the U.S., followed by China ($27M), with a 6.6% share, and the Dominican Republic, with a 2.6% share.įrom 2010 to 2020, the average annual growth rate of value to Mexico (+0.2% per year) was relatively modest. The third position in this ranking was taken by Guatemala (4.8K tonnes), with a 2.2% share. Moreover, turkey meat exports to Mexico exceeded the volume sent to the second major destination, China (17K tonnes), eightfold. Mexico (135K tonnes) was the main destination for turkey meat exports from the U.S., accounting for a 63% share of total exports. In value terms, turkey meat exports shrank from $483M to $416M, IndexBox estimates. contracted to 214K tonnes, with a decrease of -11.8% compared with 2019.
Canada makes up 80% of American imports, together with Chile being the only suppliers of turkeys to the U.S. In monetary terms, imports totalled $19.6M, having grown by 7% in comparison with the same period in 2020. In 2021, imports remained at comparable levels to the previous year and from January through September consisted of 7K tonnes, accounting for about 0.4% of U.S. It is unlikely that imports will offset the short supply of turkeys. Bureau of Labor Statistics, October prices for meats, poultry, fish and eggs grew by 11.9% in comparison with October 2020, which is the fastest rate of price increases in the past 30 years. Turkey prices are soaring in the broader context of unprecedented inflation for food products. The turkey market size in 2020 totalled 2.4M tonnes, while this year, it is expected to decrease to about 2.3M tonnes.
The increase in turkey prices is caused by solid demand running into a 6% y-o-y drop in butchered turkeys to 4.6M tonnes, due in part to a deficit of workers. On average antibiotic-free fresh whole body turkeys cost $2.37 per pound, a decrease of 7%, at the same time, frozen whole body turkeys are going for $3.30 per pound - twice the gains compared to November 2020. The average cost of organic fresh whole body turkeys totalled $3.24 per pound, +4.8% compared to November 2020, while organic frozen whole body turkeys were $3.30 per pound (+23%). The price for frozen whole body turkeys came to $1.36 per pound, a 20% increase in comparison to 2020. According to the USDA data, the average price for fresh whole body turkeys in November 2021 was $1.46 per pound, which is 9% more than the previous year. 23, 2021 (GLOBE NEWSWIRE) - Due to accelerating turkey meat price, Thanksgiving dinner this year will cost Americans significantly more than the previous one, a report published by market research firm IndexBox states.
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