Price for Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in South Africa - 2023
Contents:
- Price for Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in South Africa (FOB) - 2023
- Price for Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in South Africa (CIF) - 2022
- Exports of Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in South Africa
- Imports of Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in South Africa
Price for Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in South Africa (FOB) - 2023
The average export price for frozen bone-in cuts (excluding carcasses and half-carcasses) of bovine meat stood at $3,043 per ton in December 2023, falling by -3.8% against the previous month. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in March 2023 when the average export price increased by 47% month-to-month. As a result, the export price attained the peak level of $5,725 per ton. From April 2023 to December 2023, the the average export prices remained at a somewhat lower figure.
There were significant differences in the average prices for the major foreign markets. In December 2023, the country with the highest price was Nigeria ($9,410 per ton), while the average price for exports to China ($1,896 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 Lesotho (+4.1%), 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 South Africa (CIF) - 2022
In 2022, the average import price for frozen bone-in cuts (excluding carcasses and half-carcasses) of bovine meat amounted to $2,398 per ton, growing by 45% against the previous year. Over the period under review, the import price, however, recorded a perceptible decrease. The pace of growth appeared the most rapid in 2021 an increase of 65%. The import price peaked at $2,988 per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Namibia ($3,000 per ton), while the price for Australia ($858 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+3.7%), while the prices for the other major suppliers experienced mixed trend patterns.
Exports of Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in South Africa
In 2022, overseas shipments of frozen bone-in cuts (excluding carcasses and half-carcasses) of bovine meat decreased by -24.9% to 3.7K tons for the first time since 2018, thus ending a three-year rising trend. In general, total exports indicated a strong increase from 2019 to 2022: its volume increased at an average annual rate of +7.8% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 61%.
In value terms, exports of frozen bone-in cuts (excluding carcasses and half-carcasses) of bovine meat reduced sharply to $7.7M in 2022. Overall, exports recorded a drastic downturn. The pace of growth appeared the most rapid in 2020 when exports increased by 48% against the previous year.
| Export of Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in South Africa (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Lesotho | 0.4 | 1.0 | 1.8 | 2.0 | 71.0% |
| China | 4.4 | 9.6 | 9.8 | 1.5 | -30.1% |
| United Arab Emirates | 0.4 | 0.5 | 0.8 | 0.9 | 31.0% |
| Mozambique | 1.9 | 0.8 | 1.0 | 0.9 | -22.0% |
| Angola | 0.2 | 0.1 | 0.5 | 0.5 | 35.7% |
| Seychelles | 0.4 | 0.2 | 0.9 | 0.4 | 0.0% |
| Nigeria | 0.2 | 0.2 | 0.3 | 0.3 | 14.5% |
| Others | 1.3 | 1.2 | 1.0 | 1.3 | 0.0% |
| Total | 9.3 | 13.7 | 16.1 | 7.7 | -6.1% |
Top Export Markets for Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat from South Africa in 2022:
- Lesotho (693.4 tons)
- China (592.6 tons)
- United Arab Emirates (204.0 tons)
- Mozambique (158.5 tons)
- Angola (67.9 tons)
- Nigeria (53.9 tons)
- Seychelles (50.6 tons)
Imports of Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in South Africa
Imports of frozen bone-in cuts (excluding carcasses and half-carcasses) of bovine meat into South Africa declined sharply to 245 tons in 2022, which is down by -66.9% compared with the previous year's figure. Overall, imports recorded a precipitous contraction. The most prominent rate of growth was recorded in 2021 with an increase of 92%.
In value terms, imports of frozen bone-in cuts (excluding carcasses and half-carcasses) of bovine meat reduced rapidly to $588K in 2022. In general, imports recorded a significant curtailment. The pace of growth was the most pronounced in 2021 when imports increased by 217% against the previous year.
| Import of Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in South Africa (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Namibia | 4,032 | 92.7 | 570 | 490 | -50.5% |
| Australia | 139 | 176 | 472 | 62.3 | -23.5% |
| United States | 13.4 | 10.8 | 118 | 30.0 | 30.8% |
| Botswana | 1,155 | 84.9 | 61.1 | 1.0 | -90.5% |
| Others | 30.1 | 21.0 | N/A | 3.9 | -49.4% |
| Total | 5,370 | 385 | 1,221 | 588 | -52.2% |
Top Suppliers of Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat to South Africa in 2022:
- Namibia (163.5 tons)
- Australia (72.7 tons)
- United States (19.4 tons)
- Botswana (0.4 tons)
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