HS Code:
Methionine (HS Code: 293040) is an essential amino acid used primarily as a feed additive in the livestock industry, particularly for poultry and swine. It plays a critical role in protein synthesis and metabolism, enhancing animal growth and productivity. Methionine is produced synthetically and is a key component in animal nutrition formulations. The global trade of Methionine is driven by the demand for high-quality animal feed, influenced by the growth of the meat and dairy industries, particularly in developing economies.
Total Trade Volume
USD 3.5 billion
Data from 2022
Source
United Nations Comtrade Database, International Trade Centre (ITC)
USD 1.2 billion
34.3% of total trade of total trade
Increasing
USD 650 million
18.6% of total trade of total trade
Stable
USD 500 million
14.3% of total trade of total trade
Increasing
USD 400 million
11.4% of total trade of total trade
Stable
USD 300 million
8.6% of total trade of total trade
Decreasing
Average Rate
5.2%
Highest Rate
12% (applied by certain developing countries to protect local industries)
Lowest Rate
0% (under free trade agreements such as EU-Japan EPA)
Rising demand for animal protein
Increased consumption of Methionine in feed additives due to growing meat and dairy production, especially in Asia-Pacific and Latin America.
2021-2023
Shift towards sustainable production
Growing interest in bio-based Methionine production to reduce environmental impact, though synthetic Methionine still dominates the market.
2022
Price volatility due to supply chain disruptions
Fluctuations in raw material costs and geopolitical tensions have led to inconsistent pricing, affecting trade flows.
2020-2022
The European Union imposed anti-dumping duties on Methionine imports from China to protect domestic producers from unfairly priced imports.
March 2023
Trade diversion to other exporters like Japan and the US, with a potential increase in prices for European buyers.
Major Chinese manufacturers announced plans to expand Methionine production capacity to meet growing global demand.
July 2022
Likely to reinforce China's dominance in the market, though it may face increased scrutiny and trade barriers.
Several companies in Europe and the US are investing in research for sustainable, bio-based Methionine production as an alternative to synthetic methods.
January 2023
Could shift market dynamics in the long term, appealing to environmentally conscious markets, though cost competitiveness remains a challenge.