Price for Frozen Boneless Cuts of Bovine Meat in Singapore - 2022
Contents:
- Price for Frozen Boneless Cuts of Bovine Meat in Singapore (CIF) - 2022
- Price for Frozen Boneless Cuts of Bovine Meat in Singapore (FOB) - 2022
- Imports of Frozen Boneless Cuts of Bovine Meat in Singapore
- Exports of Frozen Boneless Cuts of Bovine Meat in Singapore
Price for Frozen Boneless Cuts of Bovine Meat in Singapore (CIF) - 2022
In September 2022, the average import price for frozen boneless cuts of bovine meat amounted to $8,811 per ton, falling by -5.2% against the previous month. Overall, import price indicated a tangible expansion from September 2021 to September 2022: its price increased at an average monthly rate of +3.7% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on September 2022 figures, import price for frozen boneless cuts of bovine meat decreased by -6.9% against July 2022 indices. The most prominent rate of growth was recorded in January 2022 an increase of 19% against the previous month. The import price peaked at $9,467 per ton in July 2022; however, from August 2022 to September 2022, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In September 2022, the country with the highest price was the United States ($21,156 per ton), while the price for India ($4,399 per ton) was amongst the lowest.
From September 2021 to September 2022, the most notable rate of growth in terms of prices was attained by Australia (+7.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Frozen Boneless Cuts of Bovine Meat in Singapore (FOB) - 2022
The average export price for frozen boneless cuts of bovine meat stood at $5,717 per ton in September 2022, picking up by 71% against the previous month. Over the period under review, the export price continues to indicate a mild increase. Over the period under review, the average export prices reached the maximum at $6,833 per ton in January 2022; however, from February 2022 to September 2022, the export prices failed to regain momentum.
Prices varied noticeably by the country of destination: the country with the highest price was Timor-Leste ($9,648 per ton), while the average price for exports to Thailand ($1,403 per ton) was amongst the lowest.
From September 2021 to September 2022, the most notable rate of growth in terms of prices was recorded for supplies to Brazil (+3.8%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Frozen Boneless Cuts of Bovine Meat in Singapore
After three years of growth, purchases abroad of frozen boneless cuts of bovine meat decreased by -9.2% to 27K tons in 2022. The total import volume increased at an average annual rate of +5.6% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by 26% against the previous year. As a result, imports attained the peak of 30K tons, and then shrank in the following year.
In value terms, imports of frozen boneless cuts of bovine meat declined modestly to $167M in 2022. Over the period under review, total imports indicated a prominent expansion from 2019 to 2022: its value increased at an average annual rate of +16.2% 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 +56.8% against 2019 indices. The pace of growth was the most pronounced in 2021 when imports increased by 40% against the previous year. As a result, imports reached the peak of $170M, and then declined slightly in the following year.
| Import of Frozen Boneless Cuts of Bovine Meat in Singapore (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Brazil | 72.6 | 79.4 | 108 | 98.8 | 10.8% |
| United States | 18.0 | 19.8 | 26.6 | 35.3 | 25.2% |
| India | 0.2 | 0.1 | 2.3 | 8.1 | 243.4% |
| Australia | 7.5 | 11.1 | 15.9 | 5.3 | -10.9% |
| New Zealand | 3.0 | 3.3 | 4.8 | 4.1 | 11.0% |
| Others | 4.8 | 7.6 | 11.9 | 14.9 | 45.9% |
| Total | 106 | 121 | 170 | 167 | 16.4% |
Top Suppliers of Frozen Boneless Cuts of Bovine Meat to Singapore in 2022:
- Brazil (19.9K tons)
- United States (3.0K tons)
- India (2.5K tons)
- Australia (0.6K tons)
- New Zealand (0.4K tons)
Exports of Frozen Boneless Cuts of Bovine Meat in Singapore
Exports of frozen boneless cuts of bovine meat from Singapore surged to 7.8K tons in 2022, picking up by 35% against the previous year. Overall, exports saw significant growth. The growth pace was the most rapid in 2021 with an increase of 55% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.
In value terms, exports of frozen boneless cuts of bovine meat expanded significantly to $32M in 2022. Over the period under review, exports showed a significant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 67%. The exports peaked in 2022 and are expected to retain growth in the immediate term.
| Export of Frozen Boneless Cuts of Bovine Meat in Singapore (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 10.4 | 10.5 | 13.4 | 16.5 | 16.6% |
| Brazil | 0.2 | 0.7 | 5.1 | 11.5 | 286.0% |
| Thailand | N/A | 0.1 | 0.3 | 1.2 | 246.4% |
| Malaysia | 1.7 | 1.3 | 0.3 | 0.4 | -38.3% |
| Others | 1.6 | 5.0 | 10.4 | 2.4 | 14.5% |
| Total | 14.0 | 17.6 | 29.4 | 32.1 | 31.9% |
Top Export Markets for Frozen Boneless Cuts of Bovine Meat from Singapore in 2022:
- Indonesia (4.8K tons)
- Brazil (2.6K tons)
- Thailand (0.2K tons)
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