Price for Meat of Bovine Animals; Frozen in New Zealand - 2023

Price for Meat of Bovine Animals; Frozen in New Zealand (FOB) - 2023

In August 2023, the average export price for meat of bovine animals; frozen amounted to $4,594 per ton, which is down by -11% against the previous month. In general, the export price showed a perceptible decline. The pace of growth was the most pronounced in April 2023 when the average export price increased by 4.5% m-o-m. Over the period under review, the average export prices reached the maximum at $6,093 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 Taiwan (Chinese) ($6,654 per ton), while the average price for exports to Indonesia ($3,598 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 Taiwan (Chinese) (-0.8%), while the prices for the other major destinations experienced a decline.

Price for Meat of Bovine Animals; Frozen in New Zealand (CIF) - 2023

In August 2023, the average import price for meat of bovine animals; frozen amounted to $4,425 per ton, remaining relatively unchanged against the previous month. Overall, the import price saw a perceptible shrinkage. The pace of growth was the most pronounced in December 2022 an increase of 13% against the previous month. Over the period under review, average import prices hit record highs at $6,884 per ton in August 2022; however, from September 2022 to August 2023, import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for Australia.

From August 2022 to August 2023, the rate of growth in terms of prices for Australia amounted to -3.7% per month.

Exports of Meat of Bovine Animals; Frozen in New Zealand

After three years of growth, shipments abroad of meat of bovine animals; frozen decreased by -36.3% to 465K tons in 2022. Over the period under review, total exports indicated pronounced growth from 2019 to 2022: its volume increased at an average annual rate of +3.1% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +9.5% against 2019 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 67%. As a result, the exports attained the peak of 730K tons, and then dropped markedly in the following year.

In value terms, meat of bovine animals; frozen exports shrank markedly to $2.8B in 2022. In general, exports, however, posted prominent growth. The pace of growth was the most pronounced in 2021 with an increase of 90%. As a result, the exports reached the peak of $4B, and then reduced sharply in the following year.

Export of Meat of Bovine Animals; Frozen in New Zealand (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	1,034	737	1,669	1,319	8.5%
United States	596	833	1,356	771	9.0%
Japan	56.7	81.1	189	157	40.4%
South Korea	60.1	78.2	163	145	34.1%
Taiwan (Chinese)	83.1	105	166	112	10.5%
Canada	50.2	87.5	108	58.3	5.1%
Indonesia	17.8	17.2	47.1	23.3	9.4%
Others	173	162	287	231	10.1%
Total	2,071	2,101	3,985	2,817	10.8%

Top Export Markets for Meat of Bovine Animals; Frozen from New Zealand in 2022:

China (217.5K tons)
United States (127.5K tons)
Japan (26.7K tons)
South Korea (24.8K tons)
Taiwan (Chinese) (16.1K tons)
Canada (9.7K tons)
Indonesia (6.5K tons)

Imports of Meat of Bovine Animals; Frozen in New Zealand

In 2022, overseas purchases of meat of bovine animals; frozen decreased by -9% to 3.4K tons, falling for the second consecutive year after two years of growth. Over the period under review, imports showed a drastic downturn. The most prominent rate of growth was recorded in 2020 with an increase of 11% against the previous year. As a result, imports reached the peak of 5.3K tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, meat of bovine animals; frozen imports declined to $20M in 2022. Overall, imports recorded a slight slump. The most prominent rate of growth was recorded in 2020 with an increase of 25% against the previous year. As a result, imports reached the peak of $27M. From 2021 to 2022, the growth of imports failed to regain momentum.