Price for Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in New Zealand - 2023

Contents:

1. Price for Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in New Zealand (FOB) - 2023
2. Price for Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in New Zealand (CIF) - 2022
3. Exports of Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in New Zealand
4. Imports of Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in New Zealand

Price for Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in New Zealand (FOB) - 2023

The average export price for fresh or chilled bone-in cuts (excluding carcasses and half-carcasses) of bovine meat stood at $11,546 per ton in December 2023, which is down by -2.4% against the previous month. Overall, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in October 2023 an increase of 18% month-to-month. The export price peaked at $12,369 per ton in December 2022; however, from January 2023 to December 2023, the export prices remained at a lower figure.

Prices varied noticeably by the country of destination: the country with the highest price was Singapore ($16,173 per ton), while the average price for exports to Australia ($5,611 per ton) was amongst the lowest.

From December 2022 to December 2023, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+1.3%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in New Zealand (CIF) - 2022

The average import price for fresh or chilled bone-in cuts (excluding carcasses and half-carcasses) of bovine meat stood at $9,347 per ton in 2022, dropping by -18.8% against the previous year. Overall, the import price, however, saw a mild increase. The pace of growth appeared the most rapid in 2020 when the average import price increased by 85% against the previous year. The import price peaked at $20,624 per ton in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for Australia.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to +8.5% per year.

Exports of Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in New Zealand

In 2022, the amount of fresh or chilled bone-in cuts (excluding carcasses and half-carcasses) of bovine meat exported from New Zealand reached 844 tons, growing by 4.9% compared with 2021. Overall, exports, however, saw a deep reduction. The pace of growth was the most pronounced in 2021 with an increase of 8.2%.

In value terms, exports of fresh or chilled bone-in cuts (excluding carcasses and half-carcasses) of bovine meat rose significantly to $9.5M in 2022. In general, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 19% against the previous year.

Top Export Markets for Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat from New Zealand in 2022:

1. United Arab Emirates (173.1 tons)
2. French Polynesia (136.7 tons)
3. South Korea (113.1 tons)
4. United States (75.2 tons)
5. Bahrain (41.9 tons)
6. Saudi Arabia (40.5 tons)
7. China (38.4 tons)
8. New Caledonia (34.7 tons)
9. Oman (29.1 tons)
10. Australia (29.0 tons)
11. Singapore (27.7 tons)
12. Canada (27.1 tons)
13. Kuwait (17.4 tons)

Imports of Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in New Zealand

In 2022, the amount of fresh or chilled bone-in cuts (excluding carcasses and half-carcasses) of bovine meat imported into New Zealand fell dramatically to 64 tons, with a decrease of -22.9% on the year before. In general, imports, however, recorded a noticeable expansion. The pace of growth was the most pronounced in 2021 when imports increased by 1,270% against the previous year. As a result, imports reached the peak of 84 tons, and then reduced dramatically in the following year.

In value terms, imports of fresh or chilled bone-in cuts (excluding carcasses and half-carcasses) of bovine meat reduced notably to $603K in 2022. Over the period under review, imports, however, enjoyed a prominent increase. The growth pace was the most rapid in 2021 with an increase of 1,042%. As a result, imports reached the peak of $963K, and then contracted markedly in the following year.

Top Suppliers of Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat to New Zealand in 2022:

1. Australia (64.5 tons)

Source: IndexBox Market Intelligence Platform