Price for Fresh or Chilled Boneless Cuts of Bovine Meat in Hong Kong SAR - 2023
Contents:
- Price for Fresh or Chilled Boneless Cuts of Bovine Meat in Hong Kong SAR (CIF) - 2023
- Price for Fresh or Chilled Boneless Cuts of Bovine Meat in Hong Kong SAR (FOB) - 2022
- Imports of Fresh or Chilled Boneless Cuts of Bovine Meat in Hong Kong SAR
- Exports of Fresh or Chilled Boneless Cuts of Bovine Meat in Hong Kong SAR
Price for Fresh or Chilled Boneless Cuts of Bovine Meat in Hong Kong SAR (CIF) - 2023
In November 2023, the average import price for fresh or chilled boneless cuts of bovine meat amounted to $22,985 per ton, with an increase of 3.4% against the previous month. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in June 2023 an increase of 12% month-to-month. As a result, import price attained the peak level of $25,083 per ton. From July 2023 to November 2023, the average import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In November 2023, the country with the highest price was Japan ($47,889 per ton), while the price for New Zealand ($14,730 per ton) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by Argentina (+2.8%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Fresh or Chilled Boneless Cuts of Bovine Meat in Hong Kong SAR (FOB) - 2022
The average export price for fresh or chilled boneless cuts of bovine meat stood at $32,948 per ton in 2022, increasing by 13% against the previous year. Overall, export price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for fresh or chilled boneless cuts of bovine meat increased by +41.5% against 2019 indices. The pace of growth appeared the most rapid in 2015 when the average export price increased by 73% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in the immediate term.
As there is only one major export destination, the average price level is determined by prices for Macao SAR.
From 2012 to 2022, the rate of growth in terms of prices for China amounted to +19.2% per year.
Imports of Fresh or Chilled Boneless Cuts of Bovine Meat in Hong Kong SAR
In 2022, approx. 6.7K tons of fresh or chilled boneless cuts of bovine meat were imported into Hong Kong SAR; reducing by -18.6% on 2021. Overall, imports showed a dramatic setback. The smallest decline of -12.4% was in 2020.
In value terms, imports of fresh or chilled boneless cuts of bovine meat reduced to $158M in 2022. In general, imports recorded a slight downturn. The growth pace was the most rapid in 2021 when imports increased by 13% against the previous year. As a result, imports reached the peak of $179M, and then declined in the following year.
| Import of Fresh or Chilled Boneless Cuts of Bovine Meat in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Australia | 54.0 | 57.2 | 64.3 | 59.3 | 3.2% |
| United States | 53.2 | 44.7 | 61.3 | 48.5 | -3.0% |
| Japan | 27.2 | 30.1 | 36.1 | 31.6 | 5.1% |
| New Zealand | 6.0 | 6.1 | 7.4 | 9.3 | 15.7% |
| Canada | 2.1 | 2.6 | 3.6 | 2.8 | 10.1% |
| Argentina | 0.9 | 1.1 | 1.0 | 1.8 | 26.0% |
| Brazil | 15.4 | 11.9 | N/A | N/A | -22.7% |
| Others | 5.1 | 5.0 | 5.2 | 4.6 | -3.4% |
| Total | 164 | 159 | 179 | 158 | -1.2% |
Top Suppliers of Fresh or Chilled Boneless Cuts of Bovine Meat to Hong Kong SAR in 2022:
- Australia (3029.4 tons)
- United States (2064.6 tons)
- Japan (668.7 tons)
- New Zealand (571.9 tons)
- Canada (126.6 tons)
- Argentina (117.0 tons)
Exports of Fresh or Chilled Boneless Cuts of Bovine Meat in Hong Kong SAR
For the third consecutive year, Hong Kong SAR recorded decline in shipments abroad of fresh or chilled boneless cuts of bovine meat, which decreased by -25.2% to 186 tons in 2022. Over the period under review, exports showed a significant decline. The smallest decline of -10.8% was in 2021.
In value terms, exports of fresh or chilled boneless cuts of bovine meat contracted remarkably to $6.1M in 2022. In general, exports faced a abrupt contraction. The pace of growth appeared the most rapid in 2021 when exports increased by 5.3%.
| Export of Fresh or Chilled Boneless Cuts of Bovine Meat in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Macao SAR | 11.2 | 6.8 | 7.2 | 6.1 | -18.3% |
| Others | 0.1 | N/A | N/A | N/A | 0% |
| Total | 11.2 | 6.9 | 7.2 | 6.1 | -18.3% |
Top Export Markets for Fresh or Chilled Boneless Cuts of Bovine Meat from Hong Kong SAR in 2022:
- Macao SAR (186.5 tons)
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