Price for Fresh or Chilled Carcasses and Half-Carcasses of Bovine Meat in Hungary - 2023

Contents:

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

Price for Fresh or Chilled Carcasses and Half-Carcasses of Bovine Meat in Hungary (FOB) - 2023

In August 2023, the average export price for fresh or chilled carcasses and half-carcasses of bovine meat amounted to $3,895 per ton, with a decrease of -2.6% against the previous month. In general, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in January 2023 an increase of 19% m-o-m. As a result, the export price attained the peak level of $4,624 per ton. From February 2023 to August 2023, the the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major export markets. In August 2023, the country with the highest price was Austria ($4,026 per ton), while the average price for exports to the Netherlands stood at $3,885 per ton.

From August 2022 to August 2023, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (-0.1%).

Price for Fresh or Chilled Carcasses and Half-Carcasses of Bovine Meat in Hungary (CIF) - 2023

In August 2023, the average import price for fresh or chilled carcasses and half-carcasses of bovine meat amounted to $6,116 per ton, increasing by 2.6% against the previous month. Over the period from August 2022 to August 2023, it increased at an average monthly rate of +1.4%. The pace of growth was the most pronounced in July 2023 an increase of 16% month-to-month. Over the period under review, average import prices attained the peak figure in August 2023.

Average prices varied somewhat amongst the major supplying countries. In August 2023, the country with the highest price was the Netherlands ($6,434 per ton), while the price for Austria ($4,650 per ton) was amongst the lowest.

From August 2022 to August 2023, the most notable rate of growth in terms of prices was attained by the Netherlands (+1.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Exports of Fresh or Chilled Carcasses and Half-Carcasses of Bovine Meat in Hungary

In 2022, approx. 3.2K tons of fresh or chilled carcasses and half-carcasses of bovine meat were exported from Hungary; declining by -5.3% against the year before. The total export volume increased at an average annual rate of +1.6% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when exports increased by 12%. As a result, the exports reached the peak of 3.4K tons, and then reduced in the following year.

In value terms, exports of fresh or chilled carcasses and half-carcasses of bovine meat expanded rapidly to $13M in 2022. In general, total exports indicated prominent growth from 2019 to 2022: its value increased at an average annual rate of +15.9% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +59.7% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 39% against the previous year. Over the period under review, the exports of reached the peak figure in 2022 and are likely to continue growth in the near future.

Top Export Markets for Fresh or Chilled Carcasses and Half-Carcasses of Bovine Meat from Hungary in 2022:

1. Netherlands (2.4K tons)
2. Austria (0.8K tons)

Imports of Fresh or Chilled Carcasses and Half-Carcasses of Bovine Meat in Hungary

In 2022, the amount of fresh or chilled carcasses and half-carcasses of bovine meat imported into Hungary amounted to 763 tons, surging by 12% on the previous year. The total import volume increased at an average annual rate of +1.9% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 18%. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, imports of fresh or chilled carcasses and half-carcasses of bovine meat soared to $4.1M in 2022. Over the period under review, total imports indicated resilient growth from 2019 to 2022: its value increased at an average annual rate of +5.9% 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 +61.2% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Top Suppliers of Fresh or Chilled Carcasses and Half-Carcasses of Bovine Meat to Hungary in 2022:

1. Netherlands (559.5 tons)
2. Austria (159.1 tons)
3. Poland (23.4 tons)
4. Germany (11.8 tons)

Source: IndexBox Market Intelligence Platform