Price for Fresh or Chilled Boneless Cuts of Bovine Meat in the United Arab Emirates - 2022

Contents:

1. Price for Fresh or Chilled Boneless Cuts of Bovine Meat in the United Arab Emirates (CIF) - 2022
2. Price for Fresh or Chilled Boneless Cuts of Bovine Meat in the United Arab Emirates (FOB) - 2022
3. Imports of Fresh or Chilled Boneless Cuts of Bovine Meat in the United Arab Emirates
4. Exports of Fresh or Chilled Boneless Cuts of Bovine Meat in the United Arab Emirates

Price for Fresh or Chilled Boneless Cuts of Bovine Meat in the United Arab Emirates (CIF) - 2022

In 2022, the average import price for fresh or chilled boneless cuts of bovine meat amounted to $8,862 per ton, surging by 7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.7%. The most prominent rate of growth was recorded in 2021 an increase of 23% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Australia ($17,956 per ton), while the price for India ($4,371 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+6.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Fresh or Chilled Boneless Cuts of Bovine Meat in the United Arab Emirates (FOB) - 2022

In 2022, the average export price for fresh or chilled boneless cuts of bovine meat amounted to $8,237 per ton, dropping by -8.3% against the previous year. In general, the export price recorded a mild contraction. The pace of growth was the most pronounced in 2021 an increase of 50% against the previous year. Over the period under review, the average export prices hit record highs at $10,061 per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was India ($23,627 per ton), while the average price for exports to China ($745 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (+16.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Fresh or Chilled Boneless Cuts of Bovine Meat in the United Arab Emirates

Imports of fresh or chilled boneless cuts of bovine meat into the United Arab Emirates expanded markedly to 31K tons in 2022, increasing by 12% on the previous year. The total import volume increased at an average annual rate of +6.8% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 16%. Over the period under review, imports of attained the maximum in 2022 and are likely to see steady growth in years to come.

In value terms, imports of fresh or chilled boneless cuts of bovine meat soared to $275M in 2022. Over the period under review, total imports indicated a strong expansion from 2019 to 2022: its value increased at an average annual rate of +17.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +69.8% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 42% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Top Suppliers of Fresh or Chilled Boneless Cuts of Bovine Meat to the United Arab Emirates in 2022:

1. Brazil (12.2K tons)
2. India (6.2K tons)
3. Australia (5.3K tons)
4. South Africa (2.0K tons)
5. New Zealand (1.9K tons)
6. United States (1.5K tons)
7. Colombia (0.6K tons)

Exports of Fresh or Chilled Boneless Cuts of Bovine Meat in the United Arab Emirates

In 2022, exports of fresh or chilled boneless cuts of bovine meat from the United Arab Emirates contracted notably to 321 tons, with a decrease of -61.3% against the year before. In general, exports saw a sharp curtailment. The most prominent rate of growth was recorded in 2021 with an increase of 64%. As a result, the exports attained the peak of 830 tons, and then fell markedly in the following year.

In value terms, exports of fresh or chilled boneless cuts of bovine meat contracted sharply to $2.6M in 2022. Over the period under review, exports showed a precipitous shrinkage. The most prominent rate of growth was recorded in 2021 when exports increased by 146% against the previous year. As a result, the exports reached the peak of $7.4M, and then fell markedly in the following year.

Top Export Markets for Fresh or Chilled Boneless Cuts of Bovine Meat from the United Arab Emirates in 2022:

1. Oman (148.3 tons)
2. China (56.7 tons)
3. Bahrain (38.3 tons)
4. Brazil (25.2 tons)
5. India (10.8 tons)
6. Saudi Arabia (10.4 tons)
7. South Sudan (6.1 tons)
8. Pakistan (6.0 tons)
9. Maldives (0.8 tons)

Source: IndexBox Market Intelligence Platform