Price for Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Japan - 2023
Contents:
- Price for Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Japan (CIF) - 2023
- Imports of Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Japan
Price for Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Japan (CIF) - 2023
The average import price for frozen bone-in cuts (excluding carcasses and half-carcasses) of bovine meat stood at $5,056 per ton in November 2023, dropping by -42.3% against the previous month. Over the period under review, the import price continues to indicate a pronounced downturn. The pace of growth was the most pronounced in October 2023 when the average import price increased by 69% m-o-m. Over the period under review, average import prices attained the maximum at $10,292 per ton in December 2022; however, from January 2023 to November 2023, 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 the United States ($16,470 per ton), while the price for New Zealand ($4,262 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 Mexico (+2.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Imports of Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Japan
In 2022, approx. 941 tons of frozen bone-in cuts (excluding carcasses and half-carcasses) of bovine meat were imported into Japan; waning by -8.2% against the year before. The total import volume increased at an average annual rate of +2.6% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by 18% against the previous year. As a result, imports attained the peak of 1K tons, and then declined in the following year.
In value terms, imports of frozen bone-in cuts (excluding carcasses and half-carcasses) of bovine meat soared to $9.4M in 2022. The total import value increased at an average annual rate of +5.6% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Japan (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 4.8 | 5.1 | 6.2 | 6.2 | 8.9% |
| Mexico | 0.3 | 0.1 | 0.3 | 0.8 | 38.7% |
| Canada | 0.9 | 0.5 | 0.1 | 0.6 | -12.6% |
| Australia | 0.8 | 0.4 | 0.4 | 0.5 | -14.5% |
| Ireland | N/A | N/A | 0.2 | 0.3 | 50.0% |
| New Zealand | 0.2 | 0.1 | 0.2 | 0.3 | 14.5% |
| Poland | 0.7 | 0.1 | 0.3 | 0.2 | -34.1% |
| United Kingdom | 0.2 | 0.1 | 0.1 | 0.2 | 0.0% |
| Others | 0.1 | 0.1 | 0.2 | 0.2 | 26.0% |
| Total | 8.0 | 6.7 | 7.8 | 9.4 | 5.5% |
Top Suppliers of Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat to Japan in 2022:
- United States (539.9 tons)
- Mexico (96.8 tons)
- New Zealand (66.1 tons)
- Canada (54.1 tons)
- United Kingdom (46.2 tons)
- Ireland (41.9 tons)
- Australia (38.9 tons)
- Poland (30.4 tons)
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