Price for Meat of Bovine Animals; Fresh or Chilled in Hong Kong SAR - 2023
Contents:
- Price for Meat of Bovine Animals; Fresh or Chilled in Hong Kong SAR (CIF) - 2023
- Price for Meat of Bovine Animals; Fresh or Chilled in Hong Kong SAR (FOB) - 2022
- Imports of Meat of Bovine Animals; Fresh or Chilled in Hong Kong SAR
- Exports of Meat of Bovine Animals; Fresh or Chilled in Hong Kong SAR
Price for Meat of Bovine Animals; Fresh or Chilled in Hong Kong SAR (CIF) - 2023
In November 2023, the average import price for meat of bovine animals; fresh or chilled amounted to $22,927 per ton, approximately equating the previous month. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in June 2023 an increase of 14% m-o-m. As a result, import price reached the peak level of $25,688 per ton. From July 2023 to November 2023, the average import prices remained at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In November 2023, the country with the highest price was Japan ($44,672 per ton), while the price for New Zealand ($14,856 per ton) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by Argentina (+1.1%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Meat of Bovine Animals; Fresh or Chilled in Hong Kong SAR (FOB) - 2022
The average export price for meat of bovine animals; fresh or chilled stood at $32,832 per ton in 2022, surging by 13% against the previous year. In general, export price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of +7.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for meat of bovine animals; fresh or chilled increased by +39.0% against 2015 indices. The pace of growth was the most pronounced in 2015 when the average export price increased by 60% against the previous year. The export price peaked in 2022 and is expected to retain growth in years to come.
As there is only one major export destination, the average price level is determined by prices for Macao SAR.
From 2012 to 2022, the rate of growth in terms of prices for Macao SAR amounted to +6.9% per year.
Imports of Meat of Bovine Animals; Fresh or Chilled in Hong Kong SAR
In 2022, approx. 7.1K tons of meat of bovine animals; fresh or chilled were imported into Hong Kong SAR; falling by -17.4% compared with the previous year's figure. In general, imports saw a precipitous contraction. The smallest decline of -10.4% was in 2020.
In value terms, imports of meat of bovine animals; fresh or chilled shrank to $168M in 2022. Overall, imports showed a slight curtailment. The pace of growth appeared the most rapid in 2021 with an increase of 10% against the previous year. As a result, imports reached the peak of $187M, and then declined in the following year.
| Import of Meat of Bovine Animals; Fresh or Chilled in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Australia | 59.2 | 64.4 | 67.7 | 64.4 | 2.8% |
| United States | 56.7 | 47.2 | 64.2 | 51.5 | -3.2% |
| Japan | 27.4 | 30.7 | 37.5 | 33.1 | 6.5% |
| New Zealand | 6.0 | 6.1 | 7.4 | 9.3 | 15.7% |
| Canada | 2.6 | 2.7 | 3.7 | 3.0 | 4.9% |
| Argentina | 1.0 | 1.2 | 1.0 | 2.0 | 26.0% |
| Brazil | 15.4 | 11.9 | N/A | N/A | -22.7% |
| Others | 6.0 | 5.7 | 5.7 | 5.1 | -5.3% |
| Total | 174 | 170 | 187 | 168 | -1.2% |
Top Suppliers of Meat of Bovine Animals; Fresh or Chilled to Hong Kong SAR in 2022:
- Australia (3.2K tons)
- United States (2.2K tons)
- Japan (0.7K tons)
- New Zealand (0.6K tons)
- Canada (0.1K tons)
- Argentina (0.1K tons)
Exports of Meat of Bovine Animals; Fresh or Chilled in Hong Kong SAR
In 2022, exports of meat of bovine animals; fresh or chilled from Hong Kong SAR reduced markedly to 206 tons, shrinking by -23.9% compared with the previous year. In general, exports continue to indicate a dramatic contraction. The smallest decline of -10.3% was in 2021.
In value terms, exports of meat of bovine animals; fresh or chilled dropped to $6.8M in 2022. Over the period under review, exports saw a abrupt downturn. The most prominent rate of growth was recorded in 2021 when exports increased by 4.9%.
| Export of Meat of Bovine Animals; Fresh or Chilled in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Macao SAR | 12.2 | 7.5 | 7.8 | 6.8 | -17.7% |
| Others | 0.1 | N/A | 0.1 | N/A | 0.0% |
| Total | 12.3 | 7.5 | 7.9 | 6.8 | -17.9% |
Top Export Markets for Meat of Bovine Animals; Fresh or Chilled from Hong Kong SAR in 2022:
- Macao SAR (205.7 tons)
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