Price for Meat of Sheep or Goats; Fresh, Chilled or Frozen in Australia - 2023
Contents:
- Price for Meat of Sheep or Goats; Fresh, Chilled or Frozen in Australia (FOB) - 2023
- Price for Meat of Sheep or Goats; Fresh, Chilled or Frozen in Australia (CIF) - 2022
- Exports of Meat of Sheep or Goats; Fresh, Chilled or Frozen in Australia
- Imports of Meat of Sheep or Goats; Fresh, Chilled or Frozen in Australia
Price for Meat of Sheep or Goats; Fresh, Chilled or Frozen in Australia (FOB) - 2023
In December 2023, the average export price for meat of sheep or goats; fresh, chilled or frozen amounted to $4,607 per ton, standing approximately at the previous month. Overall, the export price saw a slight decrease. The most prominent rate of growth was recorded in April 2023 when the average export price increased by 1.5% m-o-m. Over the period under review, the average export prices attained the peak figure at $5,828 per ton in December 2022; however, from January 2023 to December 2023, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major foreign markets. In December 2023, the country with the highest price was South Korea ($6,980 per ton), while the average price for exports to China ($3,163 per ton) was amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was recorded for supplies to Iran (+5.8%), while the prices for the other major destinations experienced mixed trend patterns.
Price for Meat of Sheep or Goats; Fresh, Chilled or Frozen in Australia (CIF) - 2022
The average import price for meat of sheep or goats; fresh, chilled or frozen stood at $4,517 per ton in 2022, increasing by 20% against the previous year. In general, the import price, however, showed a deep downturn. The pace of growth appeared the most rapid in 2020 an increase of 31%. The import price peaked at $8,995 per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.
As there is only one major supplying country, the average price level is determined by prices for New Zealand.
From 2012 to 2022, the rate of growth in terms of prices for the United Arab Emirates amounted to -5.9% per year.
Exports of Meat of Sheep or Goats; Fresh, Chilled or Frozen in Australia
In 2022, the amount of meat of sheep or goats; fresh, chilled or frozen exported from Australia expanded slightly to 481K tons, increasing by 5% on 2021. Overall, exports, however, recorded a noticeable downturn.
In value terms, exports of meat of sheep or goats; fresh, chilled or frozen rose modestly to $3.4B in 2022. The total export value increased at an average annual rate of +4.1% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 22% against the previous year. The exports peaked in 2022 and are likely to see steady growth in years to come.
| Export of Meat of Sheep or Goats; Fresh, Chilled or Frozen in Australia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 741 | 674 | 1,015 | 1,041 | 12.0% |
| China | 847 | 662 | 830 | 673 | -7.4% |
| South Korea | 113 | 124 | 156 | 251 | 30.5% |
| Malaysia | 125 | 134 | 168 | 195 | 16.0% |
| United Arab Emirates | 170 | 155 | 139 | 165 | -1.0% |
| Japan | 111 | 107 | 109 | 140 | 8.0% |
| Canada | 80.8 | 88.2 | 113 | 125 | 15.7% |
| Saudi Arabia | 75.9 | 62.7 | 69.5 | 84.9 | 3.8% |
| United Kingdom | 47.0 | 60.3 | 80.4 | 81.2 | 20.0% |
| Singapore | 68.2 | 72.2 | 72.5 | 78.0 | 4.6% |
| Papua New Guinea | 47.0 | 45.1 | 59.4 | 69.9 | 14.1% |
| Taiwan (Chinese) | 44.8 | 43.9 | 59.3 | 58.3 | 9.2% |
| Qatar | 119 | 130 | 61.4 | 53.4 | -23.4% |
| Others | 413 | 282 | 298 | 374 | -3.3% |
| Total | 3,003 | 2,639 | 3,231 | 3,390 | 4.1% |
Top Export Markets for Meat of Sheep or Goats; Fresh, Chilled or Frozen from Australia in 2022:
- China (138.2K tons)
- United States (103.0K tons)
- Malaysia (31.3K tons)
- South Korea (27.3K tons)
- Papua New Guinea (23.9K tons)
- United Arab Emirates (21.3K tons)
- Japan (15.2K tons)
- Canada (13.2K tons)
- Singapore (12.9K tons)
- Saudi Arabia (12.7K tons)
- Taiwan (Chinese) (10.9K tons)
- United Kingdom (9.3K tons)
- Qatar (6.8K tons)
Imports of Meat of Sheep or Goats; Fresh, Chilled or Frozen in Australia
In 2022, purchases abroad of meat of sheep or goats; fresh, chilled or frozen decreased by -57.5% to 159 tons, falling for the second consecutive year after two years of growth. In general, imports faced a precipitous descent. The growth pace was the most rapid in 2020 when imports increased by 133% against the previous year. As a result, imports reached the peak of 969 tons. From 2021 to 2022, the growth of imports of failed to regain momentum.
In value terms, imports of meat of sheep or goats; fresh, chilled or frozen reduced rapidly to $717K in 2022. Over the period under review, imports saw a abrupt descent. The pace of growth was the most pronounced in 2020 with an increase of 206%. As a result, imports reached the peak of $3.6M. From 2021 to 2022, the growth of imports of failed to regain momentum.
| Import of Meat of Sheep or Goats; Fresh, Chilled or Frozen in Australia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| New Zealand | 961 | 1,217 | 1,409 | 697 | -10.2% |
| United Arab Emirates | 229 | 446 | N/A | N/A | 94.8% |
| Others | N/A | 1,981 | N/A | 19.7 | -90.0% |
| Total | 1,189 | 3,644 | 1,409 | 717 | -15.5% |
Top Suppliers of Meat of Sheep or Goats; Fresh, Chilled or Frozen to Australia in 2022:
- New Zealand (158.3 tons)
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