Price for Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Canada - 2023
Contents:
- Price for Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Canada (FOB) - 2023
- Price for Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Canada (CIF) - 2023
- Exports of Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Canada
- Imports of Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Canada
Price for Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Canada (FOB) - 2023
The average export price for fresh or chilled bone-in cuts (excluding carcasses and half-carcasses) of bovine meat stood at $16,073 per ton in December 2023, rising by 9.9% against the previous month. Over the period from December 2022 to December 2023, it increased at an average monthly rate of +2.3%. The growth pace was the most rapid in November 2023 when the average export price increased by 11% m-o-m. The export price peaked in December 2023.
There were significant differences in the average prices for the major overseas markets. In December 2023, the country with the highest price was the United States ($16,250 per ton), while the average price for exports to Mexico totaled $7,636 per ton.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+2.3%).
Price for Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Canada (CIF) - 2023
The average import price for fresh or chilled bone-in cuts (excluding carcasses and half-carcasses) of bovine meat stood at $12,450 per ton in December 2023, with an increase of 4.4% against the previous month. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in January 2023 an increase of 21% m-o-m. As a result, import price attained the peak level of $14,292 per ton. From February 2023 to December 2023, the average import prices remained at a lower figure.
Average prices varied somewhat amongst the major supplying countries. In December 2023, the highest price was recorded for prices from the United States ($13,728 per ton) and the Netherlands ($13,633 per ton), while the price for Mexico ($9,411 per ton) and Australia ($12,639 per ton) were amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by the Netherlands (+11.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Canada
After three years of growth, shipments abroad of fresh or chilled bone-in cuts (excluding carcasses and half-carcasses) of bovine meat decreased by -0.9% to 30K tons in 2022. Over the period under review, total exports indicated a resilient increase from 2019 to 2022: its volume increased at an average annual rate of +14.7% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +50.9% against 2019 indices. The pace of growth was the most pronounced in 2020 with an increase of 30% against the previous year.
In value terms, exports of fresh or chilled bone-in cuts (excluding carcasses and half-carcasses) of bovine meat fell to $339M in 2022. In general, exports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 48% against the previous year.
| Export of Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Canada (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 167 | 251 | 364 | 331 | 25.6% |
| Mexico | 2.2 | 2.4 | 6.1 | 3.9 | 21.0% |
| Others | 3.2 | 2.5 | 4.2 | 3.6 | 4.0% |
| Total | 173 | 256 | 374 | 339 | 25.1% |
Top Export Markets for Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat from Canada in 2022:
- United States (29.2K tons)
- Mexico (0.4K tons)
Imports of Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Canada
Imports of fresh or chilled bone-in cuts (excluding carcasses and half-carcasses) of bovine meat into Canada surged to 9.2K tons in 2022, with an increase of 18% against 2021. The total import volume increased at an average annual rate of +1.6% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, imports of fresh or chilled bone-in cuts (excluding carcasses and half-carcasses) of bovine meat rose remarkably to $115M in 2022. The total import value increased at an average annual rate of +9.1% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 28% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.
| Import of Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Canada (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 81.9 | 68.4 | 82.1 | 96.9 | 5.8% |
| Mexico | 5.5 | 7.8 | 15.1 | 15.9 | 42.5% |
| Netherlands | 0.6 | 0.3 | 1.2 | 1.1 | 22.4% |
| Australia | 0.2 | 3.2 | 2.3 | 0.6 | 44.2% |
| Others | 0.2 | 0.5 | 1.6 | 0.6 | 44.2% |
| Total | 88.5 | 80.3 | 102 | 115 | 9.1% |
Top Suppliers of Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat to Canada in 2022:
- United States (7.1K tons)
- Mexico (1.7K tons)
- Netherlands (0.3K tons)
- Australia (0.1K tons)
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