Price for Fresh or Chilled Boneless Cuts of Bovine Meat in Canada - 2023
Contents:
- Price for Fresh or Chilled Boneless Cuts of Bovine Meat in Canada (FOB) - 2023
- Price for Fresh or Chilled Boneless Cuts of Bovine Meat in Canada (CIF) - 2023
- Exports of Fresh or Chilled Boneless Cuts of Bovine Meat in Canada
- Imports of Fresh or Chilled Boneless Cuts of Bovine Meat in Canada
Price for Fresh or Chilled Boneless Cuts of Bovine Meat in Canada (FOB) - 2023
The average export price for fresh or chilled boneless cuts of bovine meat stood at $7,445 per ton in December 2023, dropping by -4.7% against the previous month. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in April 2023 when the average export price increased by 6.3% against the previous month. Over the period under review, the average export prices hit record highs at $8,037 per ton in July 2023; however, from August 2023 to December 2023, the export prices stood at a somewhat lower figure.
Average prices varied somewhat for the major overseas markets. In December 2023, the country with the highest price was Japan ($9,686 per ton), while the average price for exports to Mexico ($6,752 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 Japan (+2.3%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Fresh or Chilled Boneless Cuts of Bovine Meat in Canada (CIF) - 2023
In December 2023, the average import price for fresh or chilled boneless cuts of bovine meat amounted to $9,792 per ton, increasing by 2.1% against the previous month. Over the last twelve months, it increased at an average monthly rate of +1.4%. The pace of growth was the most pronounced in September 2023 when the average import price increased by 13% m-o-m. As a result, import price attained the peak level of $10,534 per ton. From October 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 country with the highest price was Australia ($11,936 per ton), while the price for the United States ($9,430 per ton) was amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by Mexico (+2.0%), while the prices for the other major suppliers experienced mixed trend patterns.
Exports of Fresh or Chilled Boneless Cuts of Bovine Meat in Canada
In 2022, approx. 301K tons of fresh or chilled boneless cuts of bovine meat were exported from Canada; flattening at 2021. The total export volume increased at an average annual rate of +1.8% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 12%. Over the period under review, the exports of attained the maximum in 2022 and are likely to see steady growth in the near future.
In value terms, exports of fresh or chilled boneless cuts of bovine meat totaled $2.2B in 2022. Overall, total exports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +11.3% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +42.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 39% against the previous year. The exports peaked in 2022 and are likely to continue growth in the near future.
| Export of Fresh or Chilled Boneless Cuts of Bovine Meat in Canada (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 1,365 | 1,354 | 1,876 | 1,935 | 12.3% |
| Mexico | 80.3 | 64.8 | 109 | 118 | 13.7% |
| Japan | 94.6 | 74.1 | 89.3 | 72.6 | -8.4% |
| Others | 30.1 | 28.8 | 42.0 | 41.7 | 11.5% |
| Total | 1,570 | 1,521 | 2,117 | 2,168 | 11.4% |
Top Export Markets for Fresh or Chilled Boneless Cuts of Bovine Meat from Canada in 2022:
- United States (272.4K tons)
- Mexico (16.8K tons)
- Japan (8.8K tons)
Imports of Fresh or Chilled Boneless Cuts of Bovine Meat in Canada
In 2022, overseas purchases of fresh or chilled boneless cuts of bovine meat decreased by -1.5% to 66K tons, falling for the second consecutive year after two years of growth. The total import volume increased at an average annual rate of +2.9% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 20%. As a result, imports reached the peak of 73K tons. From 2021 to 2022, the growth of imports of remained at a lower figure.
In value terms, imports of fresh or chilled boneless cuts of bovine meat totaled $593M in 2022. The total import value increased at an average annual rate of +12.7% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 with an increase of 23% against the previous year. Over the period under review, imports of attained the peak figure in 2022 and are likely to see steady growth in the near future.
| Import of Fresh or Chilled Boneless Cuts of Bovine Meat in Canada (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 369 | 436 | 451 | 469 | 8.3% |
| Mexico | 25.9 | 32.6 | 48.4 | 59.4 | 31.9% |
| Australia | 12.0 | 30.9 | 42.7 | 45.3 | 55.7% |
| Others | 8.3 | 11.9 | 18.0 | 19.4 | 32.7% |
| Total | 415 | 511 | 560 | 593 | 12.6% |
Top Suppliers of Fresh or Chilled Boneless Cuts of Bovine Meat to Canada in 2022:
- United States (55.5K tons)
- Mexico (6.7K tons)
- Australia (2.3K tons)
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