Price for Frozen Boneless Cuts of Bovine Meat in Australia - 2023
Contents:
- Price for Frozen Boneless Cuts of Bovine Meat in Australia (FOB) - 2023
- Price for Frozen Boneless Cuts of Bovine Meat in Australia (CIF) - 2023
- Exports of Frozen Boneless Cuts of Bovine Meat in Australia
- Imports of Frozen Boneless Cuts of Bovine Meat in Australia
Price for Frozen Boneless Cuts of Bovine Meat in Australia (FOB) - 2023
The average export price for frozen boneless cuts of bovine meat stood at $5,299 per ton in December 2023, with an increase of 2.8% against the previous month. Overall, the export price, however, continues to indicate a mild slump. The growth pace was the most rapid in April 2023 when the average export price increased by 11% m-o-m. As a result, the export price reached the peak level of $6,236 per ton. From May 2023 to December 2023, the the average export prices failed to regain momentum.
There were significant differences in the average prices for the major external markets. In December 2023, the country with the highest price was China ($6,715 per ton), while the average price for exports to the Philippines ($3,063 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 Canada (+0.8%), while the prices for the other major destinations experienced a decline.
Price for Frozen Boneless Cuts of Bovine Meat in Australia (CIF) - 2023
In December 2023, the average import price for frozen boneless cuts of bovine meat amounted to $5,269 per ton, which is down by -18.1% against the previous month. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in March 2023 when the average import price increased by 54% m-o-m. As a result, import price reached the peak level of $7,467 per ton. From April 2023 to December 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 December 2022 to December 2023, the rate of growth in terms of prices for New Zealand amounted to -0.2% per month.
Exports of Frozen Boneless Cuts of Bovine Meat in Australia
In 2022, overseas shipments of frozen boneless cuts of bovine meat were finally on the rise to reach 608K tons after two years of decline. Over the period under review, exports, however, saw a abrupt decrease.
In value terms, exports of frozen boneless cuts of bovine meat rose markedly to $4.1B in 2022. Overall, exports, however, showed a pronounced setback.
| Export of Frozen Boneless Cuts of Bovine Meat in Australia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 1,404 | 942 | 873 | 1,071 | -8.6% |
| Japan | 692 | 671 | 649 | 715 | 1.1% |
| South Korea | 548 | 510 | 657 | 686 | 7.8% |
| United States | 970 | 784 | 586 | 662 | -12.0% |
| Indonesia | 202 | 154 | 172 | 174 | -4.9% |
| Philippines | 99.2 | 99.6 | 121 | 137 | 11.4% |
| Taiwan (Chinese) | 128 | 111 | 121 | 119 | -2.4% |
| Others | 363 | 351 | 407 | 521 | 12.8% |
| Total | 4,406 | 3,622 | 3,583 | 4,086 | -2.5% |
Top Export Markets for Frozen Boneless Cuts of Bovine Meat from Australia in 2022:
- Japan (136.0K tons)
- China (126.0K tons)
- South Korea (102.1K tons)
- United States (93.4K tons)
- Indonesia (37.0K tons)
- Philippines (32.2K tons)
- Taiwan (Chinese) (16.4K tons)
Imports of Frozen Boneless Cuts of Bovine Meat in Australia
In 2022, supplies from abroad of frozen boneless cuts of bovine meat decreased by -19.6% to 3K tons for the first time since 2018, thus ending a three-year rising trend. Overall, imports, however, posted a significant increase. The most prominent rate of growth was recorded in 2020 when imports increased by 333%.
In value terms, imports of frozen boneless cuts of bovine meat contracted markedly to $17M in 2022. Over the period under review, imports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 451% against the previous year.
| Import of Frozen Boneless Cuts of Bovine Meat in Australia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| New Zealand | 2.5 | 9.2 | 20.4 | 16.7 | 88.3% |
| Others | 0.1 | 5.1 | 0.1 | 0.3 | 44.2% |
| Total | 2.6 | 14.3 | 20.5 | 17.0 | 87.0% |
Top Suppliers of Frozen Boneless Cuts of Bovine Meat to Australia in 2022:
- New Zealand (3.0K tons)
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