Frozen Pork Cut Price in China - 2023

Contents:

1. Frozen Pork Cut Price in China (CIF) - 2023
2. Frozen Pork Cut Price in China (FOB) - 2022
3. Frozen Pork Cut Imports in China
4. Frozen Pork Cut Exports in China

Frozen Pork Cut Price in China (CIF) - 2023

In June 2023, the average frozen pork cut import price amounted to $2,088 per ton, remaining constant against the previous month. Over the period from June 2022 to June 2023, it increased at an average monthly rate of +1.0%. The most prominent rate of growth was recorded in September 2022 an increase of 5.9% against the previous month. Over the period under review, average import prices hit record highs at $2,380 per ton in January 2023; however, from February 2023 to June 2023, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In June 2023, the countries with the highest prices were Spain ($2,185 per ton) and France ($2,161 per ton), while the price for Ireland ($2,000 per ton) and the UK ($2,063 per ton) were amongst the lowest.

From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by Denmark (+3.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Frozen Pork Cut Price in China (FOB) - 2022

The average frozen pork cut export price stood at $3,170 per ton in 2022, leveling off at the previous year. In general, the export price saw moderate growth. The growth pace was the most rapid in 2020 when the average export price increased by 26% against the previous year. The export price peaked in 2022 and is expected to retain growth in years to come.

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 Turkey ($4,294 per ton), while the average price for exports to Denmark ($1,139 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 Malaysia (+1.8%), while the prices for the other major destinations experienced mixed trend patterns.

Frozen Pork Cut Imports in China

In 2022, after three years of growth, there was significant decline in supplies from abroad of frozen hams, shoulders and cuts of pig meat, when their volume decreased by -54.7% to 480K tons. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 121% against the previous year.

In value terms, frozen pork cut imports dropped remarkably to $974M in 2022. In general, imports, however, posted a noticeable expansion. The most prominent rate of growth was recorded in 2020 with an increase of 180% against the previous year.

Top Suppliers of Frozen Pork Cut to China in 2022:

1. Spain (126.9K tons)
2. Denmark (73.0K tons)
3. United States (65.2K tons)
4. Canada (62.9K tons)
5. Netherlands (40.0K tons)
6. Chile (30.3K tons)
7. United Kingdom (25.2K tons)
8. Brazil (15.1K tons)

Frozen Pork Cut Exports in China

For the third year in a row, China recorded decline in overseas shipments of frozen hams, shoulders and cuts of pig meat, which decreased by 0% to 8.1 tons in 2022. Overall, exports faced a sharp decline. The smallest decline of -78.6% was in 2020.

In value terms, frozen pork cut exports stood at $26K in 2022. Over the period under review, exports continue to indicate a dramatic decline. The smallest decline of -73.1% was in 2020.

Top Export Markets for Frozen Pork Cut from China in 2022:

1. Turkey (undefined tons)
2. Denmark (0.7 tons)
3. Netherlands (0.3 tons)

Source: IndexBox Market Intelligence Platform