United Kingdom Wood Barrel Imports

In November 2023, the amount of casks, barrels, vats, tubs, and coopers products of wood imported into the UK soared to 423K units, rising by 16% against the month before. In general, imports, however, showed a mild decrease. The most prominent rate of growth was recorded in August 2023 when imports increased by 56% month-to-month. Over the period under review, imports reached the maximum at 484K units in November 2022; however, from December 2022 to November 2023, imports remained at a lower figure.

In value terms, wood barrel imports skyrocketed to $29M (IndexBox estimates) in November 2023. Over the period under review, total imports indicated a pronounced increase from November 2022 to November 2023: its value increased at an average monthly rate of +3.3% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on November 2023 figures, imports increased by +65.6% against September 2023 indices. The most prominent rate of growth was recorded in March 2023 with an increase of 56% month-to-month. Over the period under review, imports attained the peak figure in November 2023.




Imports by Country

In November 2023, the United States (327K units) constituted the largest wood barrel supplier to the UK, accounting for a 77% share of total imports. Moreover, wood barrel imports from the United States exceeded the figures recorded by the second-largest supplier, Spain (59K units), fivefold.

From November 2022 to November 2023, the average monthly growth rate of volume from the United States stood at -1.9%. The remaining supplying countries recorded the following average monthly rates of imports growth: Spain (+0.8% per month) and France (+4.0% per month).

In value terms, the United States ($18M) constituted the largest supplier of wood barrel to the UK, comprising 61% of total imports. The second position in the ranking was held by Spain ($8.6M), with a 30% share of total imports.

From November 2022 to November 2023, the average monthly rate of growth in terms of value from the United States totaled +4.3%. The remaining supplying countries recorded the following average monthly rates of imports growth: Spain (+1.6% per month) and France (+7.5% per month).

Import Prices by Country

In November 2023, the wood barrel price amounted to $68.9 per unit (CIF, United Kingdom), rising by 2% against the previous month. Over the period from November 2022 to November 2023, it increased at an average monthly rate of +4.5%. The most prominent rate of growth was recorded in June 2023 when the average import price increased by 24% m-o-m. As a result, import price reached the peak level of $70,608 per thousand units. From July 2023 to November 2023, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In November 2023, the country with the highest price was Spain ($145 per unit), while the price for Ireland ($25.4 per unit) was amongst the lowest.

From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by the United States (+6.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: indexbox.io