Price for Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Singapore - 2022
Contents:
- Price for Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Singapore (CIF) - 2022
- Price for Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Singapore (FOB) - 2022
- Imports of Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Singapore
- Exports of Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Singapore
Price for Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Singapore (CIF) - 2022
The average import price for frozen bone-in cuts (excluding carcasses and half-carcasses) of bovine meat stood at $6,334 per ton in September 2022, waning by -16.9% against the previous month. Over the period under review, the import price, however, posted a buoyant increase. The most prominent rate of growth was recorded in November 2021 when the average import price increased by 131% month-to-month. The import price peaked at $7,623 per ton in August 2022, and then reduced rapidly in the following month.
Prices varied noticeably by the country of origin: the country with the highest price was the United States ($26,135 per ton), while the price for Argentina ($2,586 per ton) was amongst the lowest.
From September 2021 to September 2022, the most notable rate of growth in terms of prices was attained by Brazil (+10.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Singapore (FOB) - 2022
In September 2022, the average export price for frozen bone-in cuts (excluding carcasses and half-carcasses) of bovine meat amounted to $2,932 per ton, which is down by -3% against the previous month. In general, export price indicated a noticeable expansion from September 2021 to September 2022: its price increased at an average monthly rate of +4.1% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on September 2022 figures, export price for frozen bone-in cuts (excluding carcasses and half-carcasses) of bovine meat decreased by -7.5% against July 2022 indices. The pace of growth was the most pronounced in November 2021 an increase of 91% month-to-month. The export price peaked at $3,837 per ton in January 2022; however, from February 2022 to September 2022, the export prices remained at a lower figure.
Average prices varied noticeably for the major foreign markets. In September 2022, the country with the highest price was Indonesia ($2,972 per ton), while the average price for exports to Malaysia amounted to $2,884 per ton.
From September 2021 to September 2022, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+6.5%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Singapore
In 2022, supplies from abroad of frozen bone-in cuts (excluding carcasses and half-carcasses) of bovine meat decreased by -7.2% to 2.6K tons, falling for the second year in a row after two years of growth. Overall, imports continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of 36%. As a result, imports attained the peak of 5.4K tons. From 2021 to 2022, the growth of imports of failed to regain momentum.
In value terms, imports of frozen bone-in cuts (excluding carcasses and half-carcasses) of bovine meat skyrocketed to $12M in 2022. The total import value increased at an average annual rate of +8.5% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period.
| Import of Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Singapore (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 1.7 | 1.8 | 1.7 | 4.6 | 39.3% |
| Brazil | 0.9 | 1.9 | 3.1 | 3.0 | 49.4% |
| Australia | 2.3 | 4.6 | 0.7 | 1.4 | -15.3% |
| Argentina | 2.3 | 0.9 | 0.5 | 0.8 | -29.7% |
| Paraguay | 0.2 | 0.4 | 0.3 | 0.7 | 51.8% |
| New Zealand | 1.3 | 1.2 | 1.3 | 0.7 | -18.6% |
| Netherlands | 0.1 | 0.6 | 0.3 | 0.2 | 26.0% |
| Others | 0.2 | 0.5 | 0.9 | 0.2 | 0.0% |
| Total | 9.1 | 11.8 | 8.7 | 11.6 | 8.4% |
Top Suppliers of Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat to Singapore in 2022:
- Brazil (874.9 tons)
- Argentina (392.3 tons)
- Australia (344.9 tons)
- Paraguay (336.5 tons)
- United States (291.3 tons)
- Netherlands (124.5 tons)
- New Zealand (122.9 tons)
Exports of Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Singapore
In 2022, shipments abroad of frozen bone-in cuts (excluding carcasses and half-carcasses) of bovine meat decreased by -8.6% to 112 tons, falling for the second year in a row after two years of growth. Over the period under review, exports recorded a noticeable downturn. The growth pace was the most rapid in 2020 with an increase of 9.3% against the previous year. As a result, the exports attained the peak of 135 tons. From 2021 to 2022, the growth of the exports of remained at a lower figure.
In value terms, exports of frozen bone-in cuts (excluding carcasses and half-carcasses) of bovine meat reduced to $188K in 2022. Overall, exports showed a dramatic decline. The smallest decline of -14.4% was in 2021.
| Export of Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Singapore (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 1.2 | 1.2 | 2.2 | 2.0 | 18.6% |
| Malaysia | 6.1 | 5.8 | 1.2 | 1.0 | -45.3% |
| Hong Kong SAR | 0.1 | 0.1 | 0.2 | N/A | 41.4% |
| Others | -7.0 | -6.8 | -3.3 | -2.8 | -26.3% |
| Total | 0.4 | 0.3 | 0.2 | 0.2 | -20.6% |
Top Export Markets for Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat from Singapore in 2022:
- Indonesia (898.1 tons)
- Malaysia (542.3 tons)
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