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

Contents:

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

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

The average export price for fresh or chilled bone-in cuts (excluding carcasses and half-carcasses) of bovine meat stood at $6,234 per ton in October 2023, leveling off at the previous month. Over the last twelve months, it increased at an average monthly rate of +1.1%. The most prominent rate of growth was recorded in November 2022 when the average export price increased by 8.8% month-to-month. The export price peaked at $6,937 per ton in April 2023; however, from May 2023 to October 2023, the export prices remained at a lower figure.

Average prices varied somewhat for the major overseas markets. In October 2023, the countries with the highest prices were Italy ($6,924 per ton) and France ($6,424 per ton), while the average price for exports to the Netherlands ($4,673 per ton) and Greece ($5,048 per ton) were amongst the lowest.

From October 2022 to October 2023, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+1.5%), 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 Spain (CIF) - 2023

In October 2023, the average import price for fresh or chilled bone-in cuts (excluding carcasses and half-carcasses) of bovine meat amounted to $7,947 per ton, falling by -4.9% against the previous month. In general, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in June 2023 an increase of 12% month-to-month. As a result, import price reached the peak level of $8,703 per ton. From July 2023 to October 2023, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In October 2023, the country with the highest price was the Netherlands ($11,722 per ton), while the price for Italy ($4,655 per ton) was amongst the lowest.

From October 2022 to October 2023, the most notable rate of growth in terms of prices was attained by Portugal (+3.2%), while the prices for the other major suppliers experienced more modest paces of growth.

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

For the fourth consecutive year, Spain recorded growth in overseas shipments of fresh or chilled bone-in cuts (excluding carcasses and half-carcasses) of bovine meat, which increased by 14% to 63K tons in 2022. The total export volume increased at an average annual rate of +5.8% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, exports of fresh or chilled bone-in cuts (excluding carcasses and half-carcasses) of bovine meat surged to $370M in 2022. In general, total exports indicated buoyant growth from 2019 to 2022: its value increased at an average annual rate of +16.7% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +59.1% against 2019 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

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

1. Italy (24.5K tons)
2. Portugal (9.9K tons)
3. France (9.7K tons)
4. Netherlands (7.6K tons)
5. Greece (6.4K tons)
6. Belgium (1.7K tons)

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

Imports of fresh or chilled bone-in cuts (excluding carcasses and half-carcasses) of bovine meat into Spain contracted to 32K tons in 2022, therefore, remained relatively stable against 2021 figures. In general, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by 16%. As a result, imports reached the peak of 33K tons, leveling off in the following year.

In value terms, imports of fresh or chilled bone-in cuts (excluding carcasses and half-carcasses) of bovine meat expanded notably to $267M in 2022. Overall, total imports indicated prominent growth from 2019 to 2022: its value increased at an average annual rate of +12.1% 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 +56.0% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 38% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in years to come.

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

1. Poland (7.1K tons)
2. Germany (7.0K tons)
3. Netherlands (6.8K tons)
4. Denmark (2.2K tons)
5. Italy (2.0K tons)
6. Ireland (2.0K tons)
7. Portugal (1.9K tons)
8. Austria (1.4K tons)

Source: IndexBox Market Intelligence Platform