Price for Frozen Carcasses and Half-Carcasses of Bovine Meat in South Korea - 2022
Contents:
- Price for Frozen Carcasses and Half-Carcasses of Bovine Meat in South Korea (CIF) - 2022
- Imports of Frozen Carcasses and Half-Carcasses of Bovine Meat in South Korea
Price for Frozen Carcasses and Half-Carcasses of Bovine Meat in South Korea (CIF) - 2022
The average import price for frozen carcasses and half-carcasses of bovine meat stood at $7,039 per ton in 2022, reducing by -12.7% against the previous year. In general, the import price saw a perceptible contraction. The growth pace was the most rapid in 2021 when the average import price increased by 43%. Over the period under review, average import prices reached the peak figure at $10,587 per ton in 2012; however, from 2013 to 2022, 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 2012 to 2022, the rate of growth in terms of prices for the UK amounted to +12.9% per year.
Imports of Frozen Carcasses and Half-Carcasses of Bovine Meat in South Korea
In 2022, approx. 2.6 tons of frozen carcasses and half-carcasses of bovine meat were imported into South Korea; which is down by -96.4% on the previous year's figure. Overall, imports showed a significant curtailment. The most prominent rate of growth was recorded in 2021 with an increase of 25% against the previous year. As a result, imports attained the peak of 73 tons, and then shrank significantly in the following year.
In value terms, imports of frozen carcasses and half-carcasses of bovine meat fell sharply to $18K in 2022. In general, imports saw a sharp reduction. The pace of growth appeared the most rapid in 2021 when imports increased by 79% against the previous year. As a result, imports reached the peak of $585K, and then reduced remarkably in the following year.
Import of Frozen Carcasses and Half-Carcasses of Bovine Meat in South Korea (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Australia | 10.9 | 92.3 | 7.0 | 18.5 | 19.3% |
New Zealand | 3.7 | 9.5 | 7.4 | N/A | 41.4% |
United Kingdom | 35.0 | 59.2 | 30.3 | N/A | -7.0% |
United States | 269 | 143 | 523 | N/A | 39.4% |
Canada | 10.6 | 23.5 | 15.7 | N/A | 21.7% |
Others | N/A | N/A | 1.3 | N/A | 0% |
Total | 329 | 327 | 585 | 18.5 | -61.7% |
Top Suppliers of Frozen Carcasses and Half-Carcasses of Bovine Meat to South Korea in 2022:
- Australia (2.6 tons)
This report provides an in-depth analysis of the beef market in Republic of Korea.
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