Members’ Trade Data Analysis: The US March 2020 SummaryMay 7, 2020
March was a significant turning point in the US as it saw the foodservice industry start to close its doors. Still, March 2020 reached 51,907 tonnes, a 6.09% increase in imports, compared to figures from March 2019, according to the latest data from the National Oceanic and Atmospheric Administration. This is 343 tonnes more than the imports in February 2020. If we look at the average price per kg paid, however, we see a drop over February and March, compared to prices in January. As the demand from China declined due to the pandemic, several sourcing countries targeted the US, lowering prices for the US market.
The impact of COVID-19 can also be seen in American consumption patterns. Shell-on frozen products, mostly sourced from Ecuador, has shown a YOY increase of 40% in January and 35% in February. Growth, for this group, dropped to only 12%, from 15,785 tonnes in March 2019 to 17,698 tonnes in March 2020. Peeled and value-added products, on the other hand, have been less affected as Americans move towards products that are easy to cook at home.
This summary offers you a sneak peek at the US Trade Data Analysis for March 2020. Members, find the full report in your library, which includes the breakdown of US imports by country and volume, and price developments over the first quarter of the year.
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