Price for Frozen Boneless Cuts of Bovine Meat in China - 2023
Contents:
- Price for Frozen Boneless Cuts of Bovine Meat in China (CIF) - 2023
- Price for Frozen Boneless Cuts of Bovine Meat in China (FOB) - 2022
- Imports of Frozen Boneless Cuts of Bovine Meat in China
- Exports of Frozen Boneless Cuts of Bovine Meat in China
Price for Frozen Boneless Cuts of Bovine Meat in China (CIF) - 2023
In December 2023, the average import price for frozen boneless cuts of bovine meat amounted to $5,028 per ton, waning by -2.4% against the previous month. Overall, the import price recorded a slight descent. The growth pace was the most rapid in May 2023 when the average import price increased by 5.7% m-o-m. The import price peaked at $6,229 per ton in December 2022; however, from January 2023 to December 2023, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In December 2023, the country with the highest price was the United States ($9,401 per ton), while the price for Argentina ($4,520 per ton) was amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by the United States (+0.1%), while the prices for the other major suppliers experienced a decline.
Price for Frozen Boneless Cuts of Bovine Meat in China (FOB) - 2022
In 2022, the average export price for frozen boneless cuts of bovine meat amounted to $12,457 per ton, rising by 16% against the previous year. Overall, export price indicated a resilient increase from 2012 to 2022: its price increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for frozen boneless cuts of bovine meat increased by +40.9% against 2017 indices. The growth pace was the most rapid in 2021 an increase of 36%. The export price peaked in 2022 and is expected to retain growth in the near future.
Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($12,605 per ton), while the average price for exports to Hong Kong SAR stood at $12,328 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Israel (+32.6%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Frozen Boneless Cuts of Bovine Meat in China
In 2022, the amount of frozen boneless cuts of bovine meat imported into China surged to 2.2M tons, picking up by 19% compared with the year before. Overall, total imports indicated a prominent expansion from 2019 to 2022: its volume increased at an average annual rate of +17.4% 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 +61.8% against 2019 indices. The pace of growth was the most pronounced in 2020 when imports increased by 30% against the previous year. Over the period under review, imports of reached the maximum in 2022 and are likely to see steady growth in the near future.
In value terms, imports of frozen boneless cuts of bovine meat skyrocketed to $15.6B in 2022. In general, imports showed a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Frozen Boneless Cuts of Bovine Meat in China (Billion USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Brazil | 2.1 | 4.2 | 4.6 | 7.5 | 52.9% |
| Argentina | 1.8 | 1.9 | 1.7 | 2.5 | 11.6% |
| Uruguay | 0.8 | 0.6 | 1.1 | 1.4 | 20.5% |
| United States | 0.1 | 0.2 | 1.0 | 1.3 | 135.1% |
| Australia | 1.4 | 1.1 | 0.8 | 1.2 | -5.0% |
| New Zealand | 0.8 | 0.6 | 0.8 | 1.1 | 11.2% |
| Others | 0.3 | 0.4 | 0.6 | 0.7 | 32.6% |
| Total | 7.2 | 9.0 | 10.6 | 15.6 | 29.4% |
Top Suppliers of Frozen Boneless Cuts of Bovine Meat to China in 2022:
- Brazil (1105.1K tons)
- Argentina (385.7K tons)
- Uruguay (208.0K tons)
- New Zealand (149.3K tons)
- United States (128.9K tons)
- Australia (125.4K tons)
Exports of Frozen Boneless Cuts of Bovine Meat in China
In 2022, after two years of decline, there was significant growth in shipments abroad of frozen boneless cuts of bovine meat, when their volume increased by 177% to 38 tons. Overall, exports, however, faced a sharp decline.
In value terms, exports of frozen boneless cuts of bovine meat soared to $476K in 2022. In general, exports, however, saw a sharp downturn.
| Export of Frozen Boneless Cuts of Bovine Meat in China (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Hong Kong SAR | 529 | 240 | 148 | 252 | -21.9% |
| United States | N/A | N/A | N/A | 224 | 0% |
| Ireland | N/A | 136 | N/A | N/A | 0% |
| Democratic People's Republic of Korea | 685 | N/A | N/A | N/A | 0% |
| United Arab Emirates | 63.8 | N/A | N/A | N/A | 0% |
| Australia | N/A | 255 | N/A | N/A | 0% |
| Brazil | 118 | N/A | N/A | N/A | 0% |
| Others | 150 | 96.6 | N/A | N/A | -35.6% |
| Total | 1,545 | 727 | 148 | 476 | -32.5% |
Top Export Markets for Frozen Boneless Cuts of Bovine Meat from China in 2022:
- Hong Kong SAR (20.5 tons)
- United States (17.8 tons)
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