Price for Frozen Boneless Cuts of Bovine Meat in New Zealand - 2023
Contents:
- Price for Frozen Boneless Cuts of Bovine Meat in New Zealand (FOB) - 2023
- Price for Frozen Boneless Cuts of Bovine Meat in New Zealand (CIF) - 2023
- Exports of Frozen Boneless Cuts of Bovine Meat in New Zealand
- Imports of Frozen Boneless Cuts of Bovine Meat in New Zealand
Price for Frozen Boneless Cuts of Bovine Meat in New Zealand (FOB) - 2023
The average export price for frozen boneless cuts of bovine meat stood at $5,101 per ton in December 2023, approximately mirroring the previous month. Over the period under review, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in April 2023 an increase of 4.7% m-o-m. The export price peaked at $5,874 per ton in May 2023; however, from June 2023 to December 2023, the export prices failed to regain momentum.
There were significant differences in the average prices for the major overseas markets. In December 2023, the country with the highest price was Taiwan (Chinese) ($5,797 per ton), while the average price for exports to the Philippines ($2,556 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 South Korea (+0.6%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Frozen Boneless Cuts of Bovine Meat in New Zealand (CIF) - 2023
In December 2023, the average import price for frozen boneless cuts of bovine meat amounted to $4,828 per ton, increasing by 3.8% against the previous month. Overall, the import price, however, continues to indicate a mild curtailment. The most prominent rate of growth was recorded in February 2023 when the average import price increased by 12% m-o-m. The import price peaked at $6,105 per ton in December 2022; however, from January 2023 to December 2023, import prices failed to regain momentum.
As there is only one major supplying country, the average price level is determined by prices for Australia.
From December 2022 to December 2023, the rate of growth in terms of prices for Australia amounted to -1.9% per month.
Exports of Frozen Boneless Cuts of Bovine Meat in New Zealand
In 2022, overseas shipments of frozen boneless cuts of bovine meat decreased by -6.2% to 362K tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 6.8%. As a result, the exports reached the peak of 386K tons, and then dropped in the following year.
In value terms, exports of frozen boneless cuts of bovine meat rose remarkably to $2.4B in 2022. The total export value increased at an average annual rate of +8.8% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 17% against the previous year. Over the period under review, the exports of hit record highs in 2022 and are likely to see gradual growth in years to come.
| Export of Frozen Boneless Cuts of Bovine Meat in New Zealand (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 862 | 593 | 845 | 1,051 | 6.8% |
| United States | 596 | 829 | 853 | 716 | 6.3% |
| Japan | 55.9 | 80.1 | 126 | 152 | 39.6% |
| Taiwan (Chinese) | 80.9 | 103 | 98.5 | 109 | 10.4% |
| South Korea | 27.4 | 39.4 | 51.3 | 74.1 | 39.3% |
| Canada | 50.2 | 87.2 | 51.6 | 53.7 | 2.3% |
| Others | 170 | 150 | 185 | 218 | 8.6% |
| Total | 1,843 | 1,882 | 2,210 | 2,374 | 8.8% |
Top Export Markets for Frozen Boneless Cuts of Bovine Meat from New Zealand in 2022:
- China (150.1K tons)
- United States (118.3K tons)
- Japan (25.3K tons)
- Taiwan (Chinese) (15.4K tons)
- South Korea (12.4K tons)
- Canada (9.3K tons)
Imports of Frozen Boneless Cuts of Bovine Meat in New Zealand
In 2022, supplies from abroad of frozen boneless cuts of bovine meat decreased by -7.3% to 3.4K tons, falling for the second year in a row after two years of growth. Overall, imports recorded a abrupt descent. The pace of growth appeared the most rapid in 2020 when imports increased by 6.2%. As a result, imports attained the peak of 5.1K tons. From 2021 to 2022, the growth of imports of remained at a lower figure.
In value terms, imports of frozen boneless cuts of bovine meat fell slightly to $20M in 2022. In general, imports saw a mild curtailment. The most prominent rate of growth was recorded in 2020 with an increase of 20% against the previous year. As a result, imports reached the peak of $26M. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.
| Import of Frozen Boneless Cuts of Bovine Meat in New Zealand (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Australia | 21.0 | 20.5 | 20.1 | 19.6 | -2.3% |
| Others | 0.3 | 5.1 | 1.1 | 0.7 | 32.6% |
| Total | 21.3 | 25.6 | 21.2 | 20.4 | -1.4% |
Top Suppliers of Frozen Boneless Cuts of Bovine Meat to New Zealand in 2022:
- Australia (3.4K tons)
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