Price for Meat of Bovine Animals; Frozen in Australia - 2023
Contents:
- Price for Meat of Bovine Animals; Frozen in Australia (FOB) - 2023
- Price for Meat of Bovine Animals; Frozen in Australia (CIF) - 2023
- Exports of Meat of Bovine Animals; Frozen in Australia
- Imports of Meat of Bovine Animals; Frozen in Australia
Price for Meat of Bovine Animals; Frozen in Australia (FOB) - 2023
In August 2023, the average export price for meat of bovine animals; frozen amounted to $5,196 per ton, dropping by -5.4% against the previous month. Overall, the export price saw a mild decrease. The pace of growth was the most pronounced in April 2023 an increase of 10% m-o-m. Over the period under review, the average export prices hit record highs at $6,414 per ton in August 2022; however, from September 2022 to August 2023, the export prices stood at a somewhat lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was Vietnam ($11,037 per ton), while the average price for exports to the Philippines ($3,033 per ton) was amongst the lowest.
From August 2022 to August 2023, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+6.3%), while the prices for the other major destinations experienced a decline.
Price for Meat of Bovine Animals; Frozen in Australia (CIF) - 2023
In August 2023, the average import price for meat of bovine animals; frozen amounted to $3,710 per ton, with a decrease of -38.1% against the previous month. Over the period under review, the import price recorded a perceptible reduction. The growth pace was the most rapid in March 2023 an increase of 43% month-to-month. As a result, import price reached the peak level of $6,945 per ton. From April 2023 to August 2023, the average import prices remained at a somewhat lower figure.
As there is only one major supplying country, the average price level is determined by prices for New Zealand.
From August 2022 to August 2023, the rate of growth in terms of prices for New Zealand amounted to -3.8% per month.
Exports of Meat of Bovine Animals; Frozen in Australia
In 2022, shipments abroad of meat of bovine animals; frozen increased by 0.3% to 711K tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, continue to indicate a abrupt decrease.
In value terms, meat of bovine animals; frozen exports stood at $4.6B in 2022. In general, exports, however, showed a slight downturn.
| Export of Meat of Bovine Animals; Frozen in Australia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 1,601 | 1,043 | 990 | 1,237 | -8.2% |
| South Korea | 691 | 666 | 825 | 855 | 7.4% |
| United States | 978 | 791 | 587 | 801 | -6.4% |
| Japan | 696 | 674 | 649 | 687 | -0.4% |
| Indonesia | 235 | 189 | 228 | 236 | 0.1% |
| Philippines | 102 | 102 | 122 | 126 | 7.3% |
| Taiwan (Chinese) | 132 | 113 | 122 | 125 | -1.8% |
| Vietnam | 65.7 | 63.7 | 90.7 | 94.0 | 12.7% |
| Others | 339 | 332 | 370 | 419 | 7.3% |
| Total | 4,838 | 3,973 | 3,983 | 4,580 | -1.8% |
Top Export Markets for Meat of Bovine Animals; Frozen from Australia in 2022:
- China (175.7K tons)
- Japan (125.2K tons)
- United States (116.9K tons)
- South Korea (116.9K tons)
- Indonesia (57.2K tons)
- Philippines (27.3K tons)
- Vietnam (19.2K tons)
- Taiwan (Chinese) (17.4K tons)
Imports of Meat of Bovine Animals; Frozen in Australia
In 2022, approx. 5.4K tons of meat of bovine animals; frozen were imported into Australia; rising by 19% against the previous year. Overall, imports saw significant growth. The most prominent rate of growth was recorded in 2020 when imports increased by 168%. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.
In value terms, meat of bovine animals; frozen imports soared to $28M in 2022. Over the period under review, imports enjoyed a significant increase. The growth pace was the most rapid in 2020 with an increase of 240% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.
| Import of Meat of Bovine Animals; Frozen in Australia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| New Zealand | 2.8 | 9.5 | 21.8 | 27.8 | 114.9% |
| Others | 0.1 | 0.2 | 0.1 | 0.1 | 0.0% |
| Total | 2.9 | 9.7 | 21.9 | 27.9 | 112.7% |
Top Suppliers of Meat of Bovine Animals; Frozen to Australia in 2022:
- New Zealand (5.4K tons)
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