Price for Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Australia - 2023
Contents:
- Price for Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Australia (FOB) - 2023
- Price for Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Australia (CIF) - 2022
- Exports of Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Australia
- Imports of Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Australia
Price for Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Australia (FOB) - 2023
The average export price for frozen bone-in cuts (excluding carcasses and half-carcasses) of bovine meat stood at $3,303 per ton in December 2023, almost unchanged from the previous month. In general, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in March 2023 an increase of 6.8% m-o-m. Over the period under review, the average export prices attained the maximum at $3,532 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 South Korea ($4,780 per ton), while the average price for exports to Vietnam ($1,619 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 Vietnam (+4.5%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Australia (CIF) - 2022
In 2022, the average import price for frozen bone-in cuts (excluding carcasses and half-carcasses) of bovine meat amounted to $1,956 per ton, remaining relatively unchanged against the previous year. Over the period under review, the import price recorded a measured increase. The pace of growth was the most pronounced in 2020 an increase of 69% against the previous year. As a result, import price reached the peak level of $2,519 per ton. From 2021 to 2022, the average import prices failed to regain momentum.
As there is only one major supplying country, the average price level is determined by prices for New Zealand.
From 2012 to 2022, the rate of growth in terms of prices for New Zealand amounted to +3.1% per year.
Exports of Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Australia
For the third consecutive year, Australia recorded decline in shipments abroad of frozen bone-in cuts (excluding carcasses and half-carcasses) of bovine meat, which decreased by -10.7% to 106K tons in 2022. In general, exports showed a deep setback. The smallest decline of -1.2% was in 2021.
In value terms, exports of frozen bone-in cuts (excluding carcasses and half-carcasses) of bovine meat stood at $413M in 2022. Over the period under review, exports recorded a slight shrinkage. The most prominent rate of growth was recorded in 2021 when exports increased by 15% against the previous year.
| Export of Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Australia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| South Korea | 143 | 155 | 168 | 187 | 9.4% |
| China | 199 | 107 | 117 | 106 | -18.9% |
| Indonesia | 32.2 | 31.0 | 56.2 | 50.6 | 16.3% |
| Vietnam | 4.8 | 7.4 | 13.2 | 12.9 | 39.0% |
| Saudi Arabia | 13.1 | 13.2 | 15.3 | 12.8 | -0.8% |
| Malaysia | 6.8 | 6.6 | 9.5 | 12.6 | 22.8% |
| Others | 30.9 | 25.4 | 19.2 | 31.0 | 0.1% |
| Total | 430 | 346 | 399 | 413 | -1.3% |
Top Export Markets for Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat from Australia in 2022:
- China (31.1K tons)
- South Korea (27.6K tons)
- Indonesia (24.9K tons)
- Vietnam (9.8K tons)
- Malaysia (4.0K tons)
- Saudi Arabia (2.2K tons)
Imports of Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Australia
In 2022, the amount of frozen bone-in cuts (excluding carcasses and half-carcasses) of bovine meat imported into Australia surged to 1.1K tons, picking up by 47% against the previous year's figure. In general, imports recorded a significant increase. The pace of growth was the most pronounced in 2020 when imports increased by 209%. Over the period under review, imports of hit record highs in 2022 and are likely to see gradual growth in the immediate term.
In value terms, imports of frozen bone-in cuts (excluding carcasses and half-carcasses) of bovine meat skyrocketed to $2.1M in 2022. Over the period under review, imports continue to indicate significant growth. The growth pace was the most rapid in 2020 when imports increased by 422% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.
| Import of Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Australia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| New Zealand | 0.3 | 0.3 | 1.4 | 2.1 | 91.3% |
| Others | N/A | 1.1 | N/A | N/A | 0% |
| Total | 0.3 | 1.4 | 1.4 | 2.1 | 91.3% |
Top Suppliers of Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat to Australia in 2022:
- New Zealand (1.1K tons)
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