Price for Frozen Boneless Cuts of Bovine Meat in Portugal - 2023
Contents:
- Price for Frozen Boneless Cuts of Bovine Meat in Portugal (CIF) - 2023
- Price for Frozen Boneless Cuts of Bovine Meat in Portugal (FOB) - 2023
- Imports of Frozen Boneless Cuts of Bovine Meat in Portugal
- Exports of Frozen Boneless Cuts of Bovine Meat in Portugal
Price for Frozen Boneless Cuts of Bovine Meat in Portugal (CIF) - 2023
In October 2023, the average import price for frozen boneless cuts of bovine meat amounted to $6,707 per ton, waning by -7.6% against the previous month. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in April 2023 when the average import price increased by 12% month-to-month. As a result, import price reached the peak level of $7,737 per ton. From May 2023 to October 2023, the average import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In October 2023, the country with the highest price was Argentina ($9,198 per ton), while the price for the Netherlands ($6,059 per ton) was amongst the lowest.
From October 2022 to October 2023, the most notable rate of growth in terms of prices was attained by Belgium (+2.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Frozen Boneless Cuts of Bovine Meat in Portugal (FOB) - 2023
In October 2023, the average export price for frozen boneless cuts of bovine meat amounted to $6,592 per ton, surging by 4.5% against the previous month. Over the period under review, export price indicated a perceptible expansion from October 2022 to October 2023: its price increased at an average monthly rate of +2.7% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on October 2023 figures, export price for frozen boneless cuts of bovine meat decreased by -24.6% against August 2023 indices. The growth pace was the most rapid in May 2023 when the average export price increased by 35% against the previous month. The export price peaked at $8,743 per ton in August 2023; however, from September 2023 to October 2023, the export prices remained at a lower figure.
There were significant differences in the average prices for the major export markets. In October 2023, the country with the highest price was the UK ($10,573 per ton), while the average price for exports to Lithuania ($2,199 per ton) was amongst the lowest.
From October 2022 to October 2023, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+7.1%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Frozen Boneless Cuts of Bovine Meat in Portugal
Imports of frozen boneless cuts of bovine meat into Portugal soared to 18K tons in 2022, growing by 19% against 2021. The total import volume increased at an average annual rate of +3.7% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, imports of frozen boneless cuts of bovine meat soared to $132M in 2022. In general, imports showed buoyant growth. 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 Portugal (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Spain | 41.1 | 36.4 | 42.0 | 47.5 | 4.9% |
| Netherlands | 11.2 | 8.7 | 17.3 | 22.7 | 26.6% |
| Ireland | 3.0 | 4.2 | 3.8 | 14.4 | 68.7% |
| Uruguay | 3.5 | 3.0 | 4.6 | 11.9 | 50.4% |
| Brazil | 4.8 | 1.3 | 1.6 | 9.3 | 24.7% |
| France | 2.5 | 2.2 | 3.5 | 9.2 | 54.4% |
| Poland | 1.4 | 1.8 | 2.6 | 3.1 | 30.3% |
| Germany | 5.6 | 2.7 | 2.4 | 2.9 | -19.7% |
| Others | 10.4 | 5.3 | 6.6 | 11.0 | 1.9% |
| Total | 83.6 | 65.7 | 84.5 | 132 | 16.4% |
Top Suppliers of Frozen Boneless Cuts of Bovine Meat to Portugal in 2022:
- Spain (7.4K tons)
- Netherlands (2.7K tons)
- Ireland (2.7K tons)
- Uruguay (1.1K tons)
- France (1.1K tons)
- Brazil (1.0K tons)
- Poland (0.4K tons)
- Germany (0.3K tons)
Exports of Frozen Boneless Cuts of Bovine Meat in Portugal
Exports of frozen boneless cuts of bovine meat from Portugal soared to 2.1K tons in 2022, rising by 17% compared with the previous year. Overall, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by 47% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.
In value terms, exports of frozen boneless cuts of bovine meat soared to $11M in 2022. Over the period under review, exports continue to indicate strong growth. The most prominent rate of growth was recorded in 2021 when exports increased by 59% against the previous year. Over the period under review, the exports of reached the peak figure in 2022 and are expected to retain growth in the immediate term.
| Export of Frozen Boneless Cuts of Bovine Meat in Portugal (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| France | 0.4 | 1.0 | 1.5 | 3.4 | 104.1% |
| Spain | 4.8 | 1.2 | 1.6 | 1.9 | -26.6% |
| Angola | 2.0 | 1.1 | 1.7 | 1.7 | -5.3% |
| Greece | N/A | N/A | N/A | 0.9 | 0% |
| United Kingdom | N/A | 0.3 | 1.2 | 0.8 | 63.3% |
| Cabo Verde | 0.4 | 0.3 | 0.7 | 0.7 | 20.5% |
| Germany | 1.2 | 0.7 | 0.7 | 0.6 | -20.6% |
| Italy | 0.1 | N/A | 0.3 | 0.6 | 81.7% |
| Others | 1.0 | 1.0 | 1.0 | 1.0 | 0.0% |
| Total | 9.9 | 5.4 | 8.6 | 11.5 | 5.1% |
Top Export Markets for Frozen Boneless Cuts of Bovine Meat from Portugal in 2022:
- France (553.5 tons)
- Spain (403.1 tons)
- Angola (219.0 tons)
- Italy (212.3 tons)
- Greece (144.1 tons)
- Cabo Verde (110.5 tons)
- Germany (108.7 tons)
- United Kingdom (106.0 tons)
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