Price for Fresh or Chilled Boneless Cuts of Bovine Meat in New Zealand - 2023
Contents:
- Price for Fresh or Chilled Boneless Cuts of Bovine Meat in New Zealand (FOB) - 2023
- Price for Fresh or Chilled Boneless Cuts of Bovine Meat in New Zealand (CIF) - 2023
- Exports of Fresh or Chilled Boneless Cuts of Bovine Meat in New Zealand
- Imports of Fresh or Chilled Boneless Cuts of Bovine Meat in New Zealand
Price for Fresh or Chilled Boneless Cuts of Bovine Meat in New Zealand (FOB) - 2023
The average export price for fresh or chilled boneless cuts of bovine meat stood at $9,405 per ton in December 2023, declining by -3.6% against the previous month. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in June 2023 an increase of 6.8% month-to-month. Over the period under review, the average export prices hit record highs at $10,289 per ton in December 2022; however, from January 2023 to December 2023, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major export markets. In December 2023, the country with the highest price was the United States ($12,480 per ton), while the average price for exports to China ($6,065 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 the United States (+0.1%), while the prices for the other major destinations experienced a decline.
Price for Fresh or Chilled Boneless Cuts of Bovine Meat in New Zealand (CIF) - 2023
In December 2023, the average import price for fresh or chilled boneless cuts of bovine meat amounted to $10,973 per ton, with an increase of 9% against the previous month. Over the last twelve-month period, it increased at an average monthly rate of +1.0%. The growth pace was the most rapid in January 2023 an increase of 16% against the previous month. As a result, import price reached the peak level of $11,313 per ton. From February 2023 to December 2023, the average 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 December 2022 to December 2023, the rate of growth in terms of prices for Australia amounted to +0.9% per month.
Exports of Fresh or Chilled Boneless Cuts of Bovine Meat in New Zealand
In 2022, shipments abroad of fresh or chilled boneless cuts of bovine meat decreased by -8.6% to 35K tons for the first time since 2018, thus ending a three-year rising trend. In general, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 9.4%. As a result, the exports reached the peak of 38K tons, and then declined in the following year.
In value terms, exports of fresh or chilled boneless cuts of bovine meat shrank modestly to $365M in 2022. The total export value increased at an average annual rate of +7.2% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when exports increased by 27%. As a result, the exports reached the peak of $369M, and then fell slightly in the following year.
| Export of Fresh or Chilled Boneless Cuts of Bovine Meat in New Zealand (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 34.0 | 44.0 | 87.2 | 75.1 | 30.2% |
| China | 60.7 | 60.0 | 74.4 | 73.9 | 6.8% |
| Japan | 64.1 | 56.8 | 64.9 | 66.8 | 1.4% |
| United Arab Emirates | 21.2 | 19.4 | 21.4 | 18.6 | -4.3% |
| Singapore | 11.7 | 11.7 | 13.6 | 17.7 | 14.8% |
| French Polynesia | 14.9 | 14.3 | 15.1 | 15.2 | 0.7% |
| Australia | 3.4 | 6.9 | 10.1 | 11.3 | 49.2% |
| Canada | 3.9 | 6.1 | 9.3 | 10.7 | 40.0% |
| Hong Kong SAR | 5.9 | 5.5 | 7.7 | 8.6 | 13.4% |
| Taiwan (Chinese) | 10.9 | 10.6 | 8.6 | 7.2 | -12.9% |
| New Caledonia | 6.8 | 7.4 | 7.4 | 6.3 | -2.5% |
| Oman | 5.9 | 6.7 | 4.8 | 5.5 | -2.3% |
| Kuwait | 4.1 | 4.8 | 5.2 | 5.2 | 8.2% |
| Others | 48.2 | 34.7 | 38.8 | 42.8 | -3.9% |
| Total | 296 | 289 | 369 | 365 | 7.2% |
Top Export Markets for Fresh or Chilled Boneless Cuts of Bovine Meat from New Zealand in 2022:
- China (9.5K tons)
- Japan (6.7K tons)
- United States (5.7K tons)
- United Arab Emirates (1.8K tons)
- French Polynesia (1.5K tons)
- Singapore (1.3K tons)
- Australia (1.1K tons)
- Canada (1.0K tons)
- Taiwan (Chinese) (0.6K tons)
- Oman (0.6K tons)
- New Caledonia (0.6K tons)
- Kuwait (0.6K tons)
- Hong Kong SAR (0.6K tons)
Imports of Fresh or Chilled Boneless Cuts of Bovine Meat in New Zealand
After two years of decline, purchases abroad of fresh or chilled boneless cuts of bovine meat increased by 94% to 1.2K tons in 2022. Overall, imports, however, continue to indicate a abrupt downturn.
In value terms, imports of fresh or chilled boneless cuts of bovine meat surged to $11M in 2022. In general, imports, however, recorded a deep slump.
| Import of Fresh or Chilled Boneless Cuts of Bovine Meat in New Zealand (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Australia | 14.1 | 6.9 | 5.5 | 10.6 | -9.1% |
| United States | N/A | 1.2 | N/A | 0.2 | -59.2% |
| Others | 0.5 | 0.8 | 0.2 | N/A | -36.8% |
| Total | 14.6 | 8.9 | 5.7 | 10.8 | -9.6% |
Top Suppliers of Fresh or Chilled Boneless Cuts of Bovine Meat to New Zealand in 2022:
- Australia (1220.4 tons)
- United States (18.6 tons)
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