Price for Frozen Boneless Cuts of Bovine Meat in Panama - 2023
Contents:
- Price for Frozen Boneless Cuts of Bovine Meat in Panama (FOB) - 2022
- Price for Frozen Boneless Cuts of Bovine Meat in Panama (CIF) - 2023
- Exports of Frozen Boneless Cuts of Bovine Meat in Panama
- Imports of Frozen Boneless Cuts of Bovine Meat in Panama
Price for Frozen Boneless Cuts of Bovine Meat in Panama (FOB) - 2022
The average export price for frozen boneless cuts of bovine meat stood at $4,407 per ton in 2022, which is down by -7% against the previous year. Overall, the export price showed a abrupt descent. The pace of growth appeared the most rapid in 2021 an increase of 9.6%. The export price peaked at $8,188 per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.
Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Trinidad and Tobago ($4,642 per ton) and China ($4,554 per ton), while the average price for exports to El Salvador ($3,480 per ton) and Jamaica ($3,542 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+6.7%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Frozen Boneless Cuts of Bovine Meat in Panama (CIF) - 2023
In November 2023, the average import price for frozen boneless cuts of bovine meat amounted to $10,537 per ton, with an increase of 26% against the previous month. Overall, the import price showed a tangible expansion. The pace of growth was the most pronounced in May 2023 an increase of 107% month-to-month. As a result, import price reached the peak level of $16,213 per ton. From June 2023 to November 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 the United States ($13,162 per ton), while the price for Argentina ($4,302 per ton) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by the United States (+1.3%), while the prices for the other major suppliers experienced a decline.
Exports of Frozen Boneless Cuts of Bovine Meat in Panama
In 2022, shipments abroad of frozen boneless cuts of bovine meat decreased by -14.3% to 4.1K tons, falling for the second year in a row after two years of growth. In general, exports continue to indicate a deep reduction. The most prominent rate of growth was recorded in 2020 when exports increased by 0.9% against the previous year. As a result, the exports reached the peak of 5.2K tons. From 2021 to 2022, the growth of the exports of remained at a lower figure.
In value terms, exports of frozen boneless cuts of bovine meat reduced sharply to $18M in 2022. Over the period under review, exports showed a deep slump. The most prominent rate of growth was recorded in 2020 with an increase of 4%. As a result, the exports reached the peak of $23M. From 2021 to 2022, the growth of the exports of remained at a lower figure.
| Export of Frozen Boneless Cuts of Bovine Meat in Panama (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 12.9 | 12.3 | 11.6 | 12.9 | 0.0% |
| Taiwan (Chinese) | 4.9 | 6.1 | 5.9 | 3.0 | -15.1% |
| Jamaica | 1.2 | 1.1 | 2.1 | 1.4 | 5.3% |
| Trinidad and Tobago | 0.3 | 0.4 | 0.9 | 0.3 | 0.0% |
| Guatemala | 0.8 | 1.1 | 0.8 | 0.1 | -50.0% |
| Hong Kong SAR | 0.8 | 0.4 | 0.3 | N/A | -38.8% |
| Others | 0.9 | 1.2 | 1.0 | 0.3 | -30.7% |
| Total | 21.8 | 22.6 | 22.5 | 18.0 | -6.2% |
Top Export Markets for Frozen Boneless Cuts of Bovine Meat from Panama in 2022:
- China (2829.8 tons)
- Taiwan (Chinese) (686.1 tons)
- Jamaica (394.5 tons)
- Trinidad and Tobago (61.2 tons)
- Guatemala (40.4 tons)
Imports of Frozen Boneless Cuts of Bovine Meat in Panama
In 2022, approx. 2.3K tons of frozen boneless cuts of bovine meat were imported into Panama; with an increase of 4.5% compared with 2021. Overall, imports, however, recorded a abrupt downturn. The pace of growth was the most pronounced in 2021 when imports increased by 56%.
In value terms, imports of frozen boneless cuts of bovine meat declined to $17M in 2022. Over the period under review, imports, however, continue to indicate a perceptible slump. The most prominent rate of growth was recorded in 2021 when imports increased by 89% against the previous year.
| Import of Frozen Boneless Cuts of Bovine Meat in Panama (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 15.7 | 8.6 | 17.1 | 14.6 | -2.4% |
| Uruguay | N/A | N/A | N/A | 1.4 | 0% |
| Argentina | 2.0 | 0.6 | 0.6 | 0.4 | -41.5% |
| Canada | N/A | N/A | N/A | 0.3 | 0% |
| Mexico | 0.7 | 0.2 | 0.1 | N/A | -62.2% |
| Others | 0.5 | 0.1 | N/A | N/A | -80.0% |
| Total | 18.9 | 9.5 | 17.9 | 16.7 | -4.0% |
Top Suppliers of Frozen Boneless Cuts of Bovine Meat to Panama in 2022:
- United States (1837.5 tons)
- Uruguay (250.1 tons)
- Canada (107.8 tons)
- Argentina (82.6 tons)
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