Price for Meat of Bovine Animals; Frozen in Azerbaijan - 2023

Price for Meat of Bovine Animals; Frozen in Azerbaijan (CIF) - 2023

In July 2023, the average import price for meat of bovine animals; frozen amounted to $4,271 per ton, shrinking by -12% against the previous month. Over the period under review, the import price showed a pronounced reduction. The pace of growth was the most pronounced in February 2023 an increase of 27% m-o-m. Over the period under review, average import prices reached the peak figure at $5,798 per ton in July 2022; however, from August 2022 to July 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In July 2023, the country with the highest price was Jordan ($7,394 per ton), while the price for India ($2,291 per ton) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Jordan (+0.8%), while the prices for the other major suppliers experienced a decline.

Price for Meat of Bovine Animals; Frozen in Azerbaijan (FOB) - 2022

In 2021, the average export price for meat of bovine animals; frozen amounted to $9,000 per ton, remaining relatively unchanged against the previous year. Over the period under review, the export price showed a prominent increase. The most prominent rate of growth was recorded in 2019 an increase of 45%. Over the period under review, the average export prices attained the peak figure in 2021 and is likely to continue growth in years to come.

As there is only one major export destination, the average price level is determined by prices for the United Arab Emirates.

From 2015 to 2021, the rate of growth in terms of prices for the United Arab Emirates amounted to +24.2% per year.

Imports of Meat of Bovine Animals; Frozen in Azerbaijan

In 2022, overseas purchases of meat of bovine animals; frozen decreased by -47.2% to 2.4K tons, falling for the second year in a row after two years of growth. Overall, imports saw a significant contraction. The growth pace was the most rapid in 2020 when imports increased by 14% against the previous year. As a result, imports reached the peak of 8.4K tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, meat of bovine animals; frozen imports reduced remarkably to $11M in 2022. Over the period under review, imports faced a precipitous descent. The most prominent rate of growth was recorded in 2020 when imports increased by 39% against the previous year. As a result, imports attained the peak of $32M. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Import of Meat of Bovine Animals; Frozen in Azerbaijan (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Ukraine	15.0	20.1	10.1	7.7	-19.9%
Georgia	1.7	7.8	5.2	1.4	-6.3%
India	1.4	1.5	1.2	0.7	-20.6%
Pakistan	2.5	0.5	0.2	0.5	-41.5%
Brazil	1.8	1.5	0.7	0.1	-61.8%
Paraguay	0.1	0.1	N/A	0.1	0.0%
Others	1.0	1.0	0.8	0.4	-26.3%
Total	23.4	32.5	18.2	11.0	-22.2%

Top Suppliers of Meat of Bovine Animals; Frozen to Azerbaijan in 2022:

Ukraine (1653.6 tons)
Georgia (249.9 tons)
India (192.0 tons)
Pakistan (128.6 tons)
Paraguay (54.7 tons)
Brazil (12.8 tons)

Exports of Meat of Bovine Animals; Frozen in Azerbaijan

In 2021, exports of meat of bovine animals; frozen from Azerbaijan stood at 515 kg, leveling off at the year before. In general, exports continue to indicate a precipitous setback. The smallest decline of 99.9% was in 2020.

In value terms, meat of bovine animals; frozen exports totaled $4.6K in 2021. Overall, exports showed a significant contraction. The smallest decline of 99.9% was in 2020.