Price for Meat of Bovine Animals; Fresh or Chilled in Australia - 2024
Contents:
- Price for Meat of Bovine Animals; Fresh or Chilled in Australia (FOB) - 2024
- Price for Meat of Bovine Animals; Fresh or Chilled in Australia (CIF) - 2022
- Exports of Meat of Bovine Animals; Fresh or Chilled in Australia
- Imports of Meat of Bovine Animals; Fresh or Chilled in Australia
Price for Meat of Bovine Animals; Fresh or Chilled in Australia (FOB) - 2024
The average export price for meat of bovine animals; fresh or chilled stood at $9,997 per ton in January 2024, declining by -2.2% against the previous month. Overall, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in December 2023 when the average export price increased by 6.2% m-o-m. The export price peaked at $11,740 per ton in February 2023; however, from March 2023 to January 2024, the export prices stood at a somewhat lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was the United Arab Emirates ($15,396 per ton), while the average price for exports to Japan ($7,401 per ton) was amongst the lowest.
From January 2023 to January 2024, the most notable rate of growth in terms of prices was recorded for supplies to Japan (-0.4%), while the prices for the other major destinations experienced a decline.
Price for Meat of Bovine Animals; Fresh or Chilled in Australia (CIF) - 2022
The average import price for meat of bovine animals; fresh or chilled stood at $14,695 per ton in 2022, picking up by 12% against the previous year. Over the period under review, import price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +4.6% 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 meat of bovine animals; fresh or chilled increased by +8.0% against 2019 indices. The growth pace was the most rapid in 2018 when the average import price increased by 25% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is likely to see steady growth in the near future.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($25,097 per ton), while the price for New Zealand stood at $11,538 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+2.1%).
Exports of Meat of Bovine Animals; Fresh or Chilled in Australia
In 2022, exports of meat of bovine animals; fresh or chilled from Australia fell dramatically to 217K tons, with a decrease of -18.2% against the previous year. In general, exports showed a abrupt decrease. The smallest decline of -3.2% was in 2020.
In value terms, exports of meat of bovine animals; fresh or chilled declined to $2.6B in 2022. Over the period under review, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 8.3%. As a result, the exports reached the peak of $2.9B, and then fell in the following year.
| Export of Meat of Bovine Animals; Fresh or Chilled in Australia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 935 | 857 | 843 | 687 | -9.8% |
| United States | 558 | 621 | 622 | 545 | -0.8% |
| South Korea | 314 | 328 | 451 | 413 | 9.6% |
| China | 254 | 275 | 276 | 269 | 1.9% |
| United Arab Emirates | 65.1 | 66.3 | 90.3 | 111 | 19.5% |
| Taiwan (Chinese) | 49.8 | 50.7 | 59.0 | 74.3 | 14.3% |
| Netherlands | 84.7 | 53.5 | 68.4 | 69.3 | -6.5% |
| Singapore | 47.7 | 54.2 | 60.8 | 59.7 | 7.8% |
| Others | 371 | 335 | 390 | 422 | 4.4% |
| Total | 2,679 | 2,641 | 2,861 | 2,650 | -0.4% |
Top Export Markets for Meat of Bovine Animals; Fresh or Chilled from Australia in 2022:
- Japan (76.8K tons)
- United States (39.9K tons)
- South Korea (33.6K tons)
- China (21.9K tons)
- Taiwan (Chinese) (5.9K tons)
- United Arab Emirates (5.7K tons)
- Netherlands (4.0K tons)
- Singapore (3.6K tons)
Imports of Meat of Bovine Animals; Fresh or Chilled in Australia
In 2022, purchases abroad of meat of bovine animals; fresh or chilled decreased by -6.4% to 1.2K tons for the first time since 2018, thus ending a three-year rising trend. Overall, imports, however, enjoyed a significant increase. The growth pace was the most rapid in 2020 when imports increased by 90%.
In value terms, imports of meat of bovine animals; fresh or chilled expanded sharply to $17M in 2022. Over the period under review, imports, however, saw a significant increase. The growth pace was the most rapid in 2020 with an increase of 65% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the near future.
| Import of Meat of Bovine Animals; Fresh or Chilled in Australia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| New Zealand | 3.7 | 5.9 | 10.8 | 10.3 | 40.7% |
| Japan | 2.5 | 2.8 | 5.5 | 6.8 | 39.6% |
| Others | N/A | 1.6 | N/A | N/A | 0% |
| Total | 6.3 | 10.4 | 16.2 | 17.1 | 39.5% |
Top Suppliers of Meat of Bovine Animals; Fresh or Chilled to Australia in 2022:
- New Zealand (890.8 tons)
- Japan (270.4 tons)
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