Price for Fresh or Chilled Boneless Cuts of Bovine Meat in Australia - 2023
Contents:
- Price for Fresh or Chilled Boneless Cuts of Bovine Meat in Australia (FOB) - 2023
- Price for Fresh or Chilled Boneless Cuts of Bovine Meat in Australia (CIF) - 2022
- Exports of Fresh or Chilled Boneless Cuts of Bovine Meat in Australia
- Imports of Fresh or Chilled Boneless Cuts of Bovine Meat in Australia
Price for Fresh or Chilled Boneless Cuts of Bovine Meat in Australia (FOB) - 2023
The average export price for fresh or chilled boneless cuts of bovine meat stood at $10,118 per ton in December 2023, increasing by 5.3% against the previous month. Over the period under review, the export price, however, continues to indicate a slight slump. The growth pace was the most rapid in February 2023 an increase of 5.9% against the previous month. The export price peaked at $11,709 per ton in December 2022; however, from January 2023 to December 2023, the export prices failed to regain momentum.
Prices varied noticeably by the country of destination: the country with the highest price was the United Arab Emirates ($13,512 per ton), while the average price for exports to Japan ($7,520 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 South Korea (-0.5%), while the prices for the other major destinations experienced a decline.
Price for Fresh or Chilled Boneless Cuts of Bovine Meat in Australia (CIF) - 2022
The average import price for fresh or chilled boneless cuts of bovine meat stood at $14,714 per ton in 2022, picking up by 12% against the previous year. In general, import price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for fresh or chilled boneless cuts of bovine meat increased by +8.3% against 2019 indices. The growth pace was the most rapid in 2019 when the average import price increased by 21% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in years to come.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($25,097 per ton), while the price for New Zealand totaled $11,545 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+2.1%).
Exports of Fresh or Chilled Boneless Cuts of Bovine Meat in Australia
For the third consecutive year, Australia recorded decline in overseas shipments of fresh or chilled boneless cuts of bovine meat, which decreased by -18.8% to 210K tons in 2022. In general, exports recorded a abrupt downturn. The smallest decline of -3.2% was in 2020.
In value terms, exports of fresh or chilled boneless cuts of bovine meat shrank to $2.5B in 2022. Overall, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 7.8% against the previous year. As a result, the exports attained the peak of $2.8B, and then fell in the following year.
| Export of Fresh or Chilled Boneless Cuts of Bovine Meat in Australia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 938 | 859 | 846 | 684 | -10.0% |
| United States | 554 | 612 | 608 | 532 | -1.3% |
| South Korea | 290 | 307 | 418 | 379 | 9.3% |
| China | 246 | 272 | 275 | 264 | 2.4% |
| United Arab Emirates | 51.8 | 51.7 | 72.5 | 101 | 24.9% |
| Taiwan (Chinese) | 49.8 | 50.7 | 58.9 | 72.7 | 13.4% |
| Netherlands | 81.0 | 50.4 | 63.5 | 64.9 | -7.1% |
| Singapore | 44.0 | 50.1 | 55.0 | 52.6 | 6.1% |
| Others | 352 | 316 | 372 | 398 | 4.2% |
| Total | 2,606 | 2,569 | 2,769 | 2,548 | -0.7% |
Top Export Markets for Fresh or Chilled Boneless Cuts of Bovine Meat from Australia in 2022:
- Japan (76.7K tons)
- United States (39.5K tons)
- South Korea (30.2K tons)
- China (21.3K tons)
- Taiwan (Chinese) (5.7K tons)
- United Arab Emirates (5.2K tons)
- Netherlands (3.7K tons)
- Singapore (3.3K tons)
Imports of Fresh or Chilled Boneless Cuts of Bovine Meat in Australia
In 2022, after three years of growth, there was significant decline in supplies from abroad of fresh or chilled boneless cuts of bovine meat, when their volume decreased by -6.7% to 1.2K tons. In general, imports, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 86% against the previous year.
In value terms, imports of fresh or chilled boneless cuts of bovine meat rose slightly to $17M in 2022. Overall, imports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2020 when imports increased by 63%. Imports peaked in 2022 and are likely to see steady growth in the immediate term.
| Import of Fresh or Chilled Boneless Cuts of Bovine Meat in Australia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| New Zealand | 3.7 | 5.7 | 10.7 | 10.2 | 40.2% |
| Japan | 2.5 | 2.8 | 5.5 | 6.8 | 39.6% |
| Others | N/A | 1.6 | N/A | N/A | 0% |
| Total | 6.3 | 10.2 | 16.2 | 17.0 | 39.2% |
Top Suppliers of Fresh or Chilled Boneless Cuts of Bovine Meat to Australia in 2022:
- New Zealand (885.9 tons)
- Japan (270.4 tons)
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