Price for Frozen Sheep (Including Lamb) Cuts with Bone in (Excluding Carcasses and Half-Carcasses) in Australia - 2023
Contents:
- Price for Frozen Sheep (Including Lamb) Cuts with Bone in (Excluding Carcasses and Half-Carcasses) in Australia (FOB) - 2023
- Price for Frozen Sheep (Including Lamb) Cuts with Bone in (Excluding Carcasses and Half-Carcasses) in Australia (CIF) - 2022
- Exports of Frozen Sheep (Including Lamb) Cuts with Bone in (Excluding Carcasses and Half-Carcasses) in Australia
- Imports of Frozen Sheep (Including Lamb) Cuts with Bone in (Excluding Carcasses and Half-Carcasses) in Australia
Price for Frozen Sheep (Including Lamb) Cuts with Bone in (Excluding Carcasses and Half-Carcasses) in Australia (FOB) - 2023
The average export price for frozen sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses) stood at $3,591 per ton in December 2023, almost unchanged from the previous month. Overall, the export price continues to indicate a mild reduction. The pace of growth was the most pronounced in July 2023 when the average export price increased by 2% month-to-month. The export price peaked at $4,494 per ton in December 2022; however, from January 2023 to December 2023, the export prices remained at a lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was South Korea ($6,900 per ton), while the average price for exports to Taiwan (Chinese) ($2,408 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 Papua New Guinea (+1.1%), while the prices for the other major destinations experienced a decline.
Price for Frozen Sheep (Including Lamb) Cuts with Bone in (Excluding Carcasses and Half-Carcasses) in Australia (CIF) - 2022
In 2022, the average import price for frozen sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses) amounted to $9,178 per ton, growing by 7.2% against the previous year. Over the period under review, import price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for frozen sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses) increased by +50.7% against 2020 indices. The pace of growth appeared the most rapid in 2021 an increase of 41%. Over the period under review, average import prices reached the peak figure at $10,251 per ton in 2013; however, from 2014 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 New Zealand.
From 2012 to 2022, the rate of growth in terms of prices for the United Arab Emirates amounted to +18.2% per year.
Exports of Frozen Sheep (Including Lamb) Cuts with Bone in (Excluding Carcasses and Half-Carcasses) in Australia
Exports of frozen sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses) from Australia expanded slightly to 268K tons in 2022, surging by 4.9% compared with the year before. In general, exports, however, recorded a noticeable decline.
In value terms, exports of frozen sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses) rose to $1.5B in 2022. The total export value increased at an average annual rate of +2.2% from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 22%. Over the period under review, the exports of hit record highs in 2022 and are expected to retain growth in the immediate term.
| Export of Frozen Sheep (Including Lamb) Cuts with Bone in (Excluding Carcasses and Half-Carcasses) in Australia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 706 | 558 | 695 | 563 | -7.3% |
| United States | 196 | 157 | 212 | 214 | 3.0% |
| Malaysia | 103 | 113 | 143 | 157 | 15.1% |
| South Korea | 36.6 | 42.9 | 37.2 | 84.8 | 32.3% |
| Papua New Guinea | 41.5 | 39.5 | 48.6 | 63.9 | 15.5% |
| Saudi Arabia | 36.0 | 25.4 | 28.6 | 39.9 | 3.5% |
| Singapore | 34.6 | 33.8 | 36.4 | 39.6 | 4.6% |
| United Kingdom | 21.4 | 18.6 | 18.7 | 34.4 | 17.1% |
| United Arab Emirates | 16.0 | 24.6 | 11.4 | 28.9 | 21.8% |
| Taiwan (Chinese) | 10.6 | 7.5 | 19.7 | 10.6 | 0.0% |
| Others | 181 | 150 | 184 | 239 | 9.7% |
| Total | 1,382 | 1,171 | 1,434 | 1,475 | 2.2% |
Top Export Markets for Frozen Sheep (Including Lamb) Cuts with Bone in (Excluding Carcasses and Half-Carcasses) from Australia in 2022:
- China (116.4K tons)
- United States (27.0K tons)
- Malaysia (25.8K tons)
- Papua New Guinea (22.3K tons)
- South Korea (10.3K tons)
- Singapore (8.4K tons)
- Saudi Arabia (5.3K tons)
- United Arab Emirates (4.5K tons)
- United Kingdom (4.1K tons)
- Taiwan (Chinese) (3.7K tons)
Imports of Frozen Sheep (Including Lamb) Cuts with Bone in (Excluding Carcasses and Half-Carcasses) in Australia
In 2022, supplies from abroad of frozen sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses) decreased by -32.6% to 24 tons, falling for the second year in a row after two years of growth. Overall, imports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 2,640% against the previous year. As a result, imports reached the peak of 278 tons. From 2021 to 2022, the growth of imports of failed to regain momentum.
In value terms, imports of frozen sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses) declined significantly to $219K in 2022. Over the period under review, imports, however, continue to indicate a significant increase. The growth pace was the most rapid in 2020 when imports increased by 2,052%. As a result, imports reached the peak of $1.7M. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.
| Import of Frozen Sheep (Including Lamb) Cuts with Bone in (Excluding Carcasses and Half-Carcasses) in Australia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| New Zealand | 78.6 | 291 | 303 | 219 | 40.7% |
| United Arab Emirates | N/A | 380 | N/A | N/A | 0% |
| Others | N/A | 1,019 | N/A | N/A | 0% |
| Total | 78.6 | 1,691 | 303 | 219 | 40.7% |
Top Suppliers of Frozen Sheep (Including Lamb) Cuts with Bone in (Excluding Carcasses and Half-Carcasses) to Australia in 2022:
- New Zealand (23.8 tons)
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