Price for Meat of Bovine Animals; Frozen in Thailand - 2023

Contents:

1. Price for Meat of Bovine Animals; Frozen in Thailand (CIF) - 2023
2. Price for Meat of Bovine Animals; Frozen in Thailand (FOB) - 2022
3. Imports of Meat of Bovine Animals; Frozen in Thailand
4. Exports of Meat of Bovine Animals; Frozen in Thailand

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

In September 2023, the average import price for meat of bovine animals; frozen amounted to $5,987 per ton, surging by 4.5% against the previous month. Overall, the import price, however, saw a slight shrinkage. The pace of growth appeared the most rapid in November 2022 an increase of 42% m-o-m. As a result, import price attained the peak level of $7,740 per ton. From December 2022 to September 2023, the average import prices remained at a lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was Japan ($41,186 per ton), while the price for Argentina ($897 per ton) was amongst the lowest.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by the United States (+0.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Meat of Bovine Animals; Frozen in Thailand (FOB) - 2022

In 2022, the average export price for meat of bovine animals; frozen amounted to $3,944 per ton, rising by 10% against the previous year. Overall, export price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, meat of bovine animals; frozen export price decreased by -2.2% against 2019 indices. The most prominent rate of growth was recorded in 2019 when the average export price increased by 95% against the previous year. As a result, the export price reached the peak level of $4,032 per ton. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Lao People's Democratic Republic.

From 2012 to 2022, the rate of growth in terms of prices for Lao People's Democratic Republic amounted to +3.4% per year.

Imports of Meat of Bovine Animals; Frozen in Thailand

For the fourth year in a row, Thailand recorded growth in supplies from abroad of meat of bovine animals; frozen, which increased by 39% to 26K tons in 2022. Overall, imports posted significant growth. The pace of growth appeared the most rapid in 2020 when imports increased by 48% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, meat of bovine animals; frozen imports soared to $180M in 2022. In general, imports continue to indicate a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Top Suppliers of Meat of Bovine Animals; Frozen to Thailand in 2022:

1. Australia (10.8K tons)
2. Argentina (7.7K tons)
3. New Zealand (4.6K tons)
4. Brazil (1.5K tons)
5. United States (1.1K tons)
6. Japan (0.4K tons)

Exports of Meat of Bovine Animals; Frozen in Thailand

In 2022, shipments abroad of meat of bovine animals; frozen was finally on the rise to reach 47 tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, recorded a dramatic curtailment.

In value terms, meat of bovine animals; frozen exports surged to $185K in 2022. In general, exports, however, saw a dramatic downturn.

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

1. Lao People's Democratic Republic (46.8 tons)

Source: IndexBox Market Intelligence Platform