Price for Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Hong Kong SAR - 2023
Contents:
- Price for Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Hong Kong SAR (CIF) - 2023
- Price for Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Hong Kong SAR (FOB) - 2023
- Imports of Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Hong Kong SAR
- Exports of Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Hong Kong SAR
Price for Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Hong Kong SAR (CIF) - 2023
In November 2023, the average import price for fresh or chilled bone-in cuts (excluding carcasses and half-carcasses) of bovine meat amounted to $22,208 per ton, waning by -18.4% against the previous month. Overall, the import price saw a mild contraction. The pace of growth appeared the most rapid in June 2023 when the average import price increased by 26% month-to-month. As a result, import price reached the peak level of $32,793 per ton. From July 2023 to November 2023, the average import prices failed to regain momentum.
Average prices varied somewhat amongst the major supplying countries. In November 2023, the countries with the highest prices were the United States ($27,989 per ton) and Canada ($25,195 per ton), while the price for New Zealand ($18,929 per ton) and Australia ($19,549 per ton) were amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by New Zealand (+1.7%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Hong Kong SAR (FOB) - 2023
In November 2023, the average export price for fresh or chilled bone-in cuts (excluding carcasses and half-carcasses) of bovine meat amounted to $34,849 per ton, picking up by 16% against the previous month. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in July 2023 an increase of 35% against the previous month. The export price peaked in November 2023.
As there is only one major export destination, the average price level is determined by prices for Macao SAR.
From November 2022 to November 2023, the rate of growth in terms of prices for Macao SAR amounted to +0.4% per month.
Imports of Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Hong Kong SAR
In 2022, overseas purchases of fresh or chilled bone-in cuts (excluding carcasses and half-carcasses) of bovine meat were finally on the rise to reach 380 tons after two years of decline. In general, imports, however, saw a abrupt decline.
In value terms, imports of fresh or chilled bone-in cuts (excluding carcasses and half-carcasses) of bovine meat surged to $10M in 2022. Over the period under review, imports showed a relatively flat trend pattern.
| Import of Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Australia | 5.1 | 7.2 | 3.4 | 5.0 | -0.7% |
| United States | 3.5 | 2.5 | 2.9 | 3.0 | -5.0% |
| Japan | 0.1 | 0.6 | 1.4 | 1.5 | 146.6% |
| Canada | 0.5 | 0.1 | 0.2 | 0.2 | -26.3% |
| Argentina | 0.1 | 0.1 | 0.1 | 0.2 | 26.0% |
| Others | 1.0 | 0.7 | 0.6 | 0.6 | -15.7% |
| Total | 10.3 | 11.3 | 8.5 | 10.4 | 0.3% |
Top Suppliers of Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat to Hong Kong SAR in 2022:
- Australia (205.5 tons)
- United States (108.4 tons)
- Japan (29.4 tons)
- Argentina (10.2 tons)
- Canada (8.7 tons)
Exports of Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Hong Kong SAR
In 2022, approx. 19 tons of fresh or chilled bone-in cuts (excluding carcasses and half-carcasses) of bovine meat were exported from Hong Kong SAR; declining by -9.5% against 2021. In general, exports recorded a precipitous decrease. The smallest decline of -5.9% was in 2021.
In value terms, exports of fresh or chilled bone-in cuts (excluding carcasses and half-carcasses) of bovine meat shrank slightly to $612K in 2022. Overall, exports faced a deep reduction. The smallest decline of -0.1% was in 2021.
| Export of Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Hong Kong SAR (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Macao SAR | 1,030 | 627 | 622 | 612 | -15.9% |
| Others | 1.7 | N/A | 4.0 | N/A | 53.4% |
| Total | 1,032 | 627 | 626 | 612 | -16.0% |
Top Export Markets for Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat from Hong Kong SAR in 2022:
- Macao SAR (19.3 tons)
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