First quarter petfood results
The petfood industry has fared well compared to other industries in the first quarter of 2009, showing an 18.8% increase in the total value of imports and a slight 2.7% decrease for exports. This outpaced the overall US trade economy, which saw sharp declines for both imports and exports of 22.3% and 29.9%, respectively.
The top sources for imports of petfood products have not changed significantly in the last year, as the March data shows no difference in the top five sources from 2008 (China, Canada, Thailand, Australia and Brazil). Exports destinations for March saw big increases over the previous March for both Japan and Belgium ( Figure 2 ).
Pricing analysis of vessel imports and exports saw an increase in the cost of imports from China year to date in 2009 compared with 2008. Costs under HTS code 2309100010 (cat and dog food in airtight containers) rose 1.7%, from US$6.42 per kilogram to US$6.53 per kilogram. Costs for HTS code 2309100090 increased 15.9%, from US$5.03 per kilogram to US$5.83 per kilogram.
The prices per kilogram of US exports to the rest of the world have increased 9.2% during the same period. These numbers show the strength of the petfood industry. While not recession proof, it does appear recession resistant.