Price for Frozen Boneless Cuts of Bovine Meat in Hungary - 2023
Contents:
- Price for Frozen Boneless Cuts of Bovine Meat in Hungary (CIF) - 2023
- Price for Frozen Boneless Cuts of Bovine Meat in Hungary (FOB) - 2023
- Imports of Frozen Boneless Cuts of Bovine Meat in Hungary
- Exports of Frozen Boneless Cuts of Bovine Meat in Hungary
Price for Frozen Boneless Cuts of Bovine Meat in Hungary (CIF) - 2023
In August 2023, the average import price for frozen boneless cuts of bovine meat amounted to $6,761 per ton, shrinking by -4.8% against the previous month. In general, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in November 2022 when the average import price increased by 10% against the previous month. The import price peaked at $7,319 per ton in April 2023; however, from May 2023 to August 2023, import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was the Netherlands ($8,860 per ton), while the price for Slovakia ($2,359 per ton) was amongst the lowest.
From August 2022 to August 2023, the most notable rate of growth in terms of prices was attained by the Netherlands (+4.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Frozen Boneless Cuts of Bovine Meat in Hungary (FOB) - 2023
In October 2023, the average export price for frozen boneless cuts of bovine meat amounted to $10,695 per ton, surging by 101% against the previous month. Over the period under review, the export price posted strong growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.
Average prices varied somewhat for the major foreign markets. In October 2023, the country with the highest price was Russia ($10,917 per ton), while the average price for exports to Serbia stood at $7,290 per ton.
From October 2022 to October 2023, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+12.1%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Frozen Boneless Cuts of Bovine Meat in Hungary
In 2022, the amount of frozen boneless cuts of bovine meat imported into Hungary declined to 7.3K tons, dropping by -4.5% compared with 2021. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 18% against the previous year. As a result, imports attained the peak of 7.6K tons, and then contracted in the following year.
In value terms, imports of frozen boneless cuts of bovine meat soared to $47M in 2022. Overall, total imports indicated prominent growth from 2019 to 2022: its value increased at an average annual rate of +12.6% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +60.2% against 2020 indices. 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 Hungary (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Poland | 2.0 | 2.8 | 18.5 | 30.2 | 147.2% |
| Netherlands | 5.6 | 3.5 | 4.9 | 5.7 | 0.6% |
| Austria | 21.8 | 20.2 | 9.5 | 3.8 | -44.1% |
| Germany | 1.1 | 1.3 | 0.8 | 2.2 | 26.0% |
| Denmark | N/A | 0.2 | 1.2 | 2.1 | 224.0% |
| Belgium | 0.5 | 0.4 | 0.7 | 1.4 | 40.9% |
| Slovakia | 0.2 | 0.1 | 0.3 | 0.5 | 35.7% |
| Others | 1.7 | 0.8 | 0.7 | 1.1 | -13.5% |
| Total | 32.9 | 29.3 | 36.8 | 46.9 | 12.5% |
Top Suppliers of Frozen Boneless Cuts of Bovine Meat to Hungary in 2022:
- Poland (4619.0 tons)
- Netherlands (720.0 tons)
- Austria (607.5 tons)
- Denmark (442.2 tons)
- Germany (313.0 tons)
- Slovakia (193.9 tons)
- Belgium (118.7 tons)
Exports of Frozen Boneless Cuts of Bovine Meat in Hungary
In 2022, shipments abroad of frozen boneless cuts of bovine meat decreased by -39% to 1.7K tons, falling for the second consecutive year after two years of growth. Over the period under review, exports continue to indicate a abrupt downturn. The pace of growth was the most pronounced in 2020 with an increase of 33% against the previous year. As a result, the exports attained the peak of 3.3K tons. From 2021 to 2022, the growth of the exports of remained at a lower figure.
In value terms, exports of frozen boneless cuts of bovine meat declined significantly to $9.4M in 2022. In general, exports saw a perceptible curtailment. The most prominent rate of growth was recorded in 2020 when exports increased by 25%. As a result, the exports reached the peak of $13M. From 2021 to 2022, the growth of the exports of failed to regain momentum.
| Export of Frozen Boneless Cuts of Bovine Meat in Hungary (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 4.4 | 5.9 | 4.8 | 4.0 | -3.1% |
| Romania | 1.9 | 3.5 | 3.5 | 2.1 | 3.4% |
| Bulgaria | 0.1 | N/A | 0.6 | 0.8 | 100.0% |
| Poland | N/A | N/A | 0.6 | 0.6 | 0.0% |
| Austria | 2.0 | 1.9 | 0.5 | 0.6 | -33.1% |
| Slovakia | 0.5 | 0.5 | 0.4 | 0.5 | 0.0% |
| Croatia | 0.4 | 0.5 | 0.4 | 0.2 | -20.6% |
| Moldova | 0.1 | N/A | 0.1 | 0.1 | 0.0% |
| United Kingdom | 0.7 | 0.1 | 0.1 | N/A | -62.2% |
| Others | 0.4 | 0.7 | 0.4 | 0.4 | 0.0% |
| Total | 10.4 | 13.0 | 11.4 | 9.4 | -3.3% |
Top Export Markets for Frozen Boneless Cuts of Bovine Meat from Hungary in 2022:
- China (700.1 tons)
- Romania (390.8 tons)
- Bulgaria (184.5 tons)
- Poland (100.4 tons)
- Austria (62.4 tons)
- Slovakia (61.5 tons)
- Moldova (57.2 tons)
- Croatia (46.6 tons)
- United Kingdom (1.6 tons)
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