Price for Fresh or Chilled Boneless Cuts of Bovine Meat in Malaysia - 2023
Contents:
- Price for Fresh or Chilled Boneless Cuts of Bovine Meat in Malaysia (CIF) - 2023
- Price for Fresh or Chilled Boneless Cuts of Bovine Meat in Malaysia (FOB) - 2022
- Imports of Fresh or Chilled Boneless Cuts of Bovine Meat in Malaysia
- Exports of Fresh or Chilled Boneless Cuts of Bovine Meat in Malaysia
Price for Fresh or Chilled Boneless Cuts of Bovine Meat in Malaysia (CIF) - 2023
The average import price for fresh or chilled boneless cuts of bovine meat stood at $18,097 per ton in December 2023, picking up by 5.2% against the previous month. Overall, the import price, however, showed a mild descent. The growth pace was the most rapid in October 2023 when the average import price increased by 28% against the previous month. The import price peaked at $20,814 per ton in December 2022; however, from January 2023 to December 2023, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In December 2023, the country with the highest price was Japan ($43,109 per ton), while the price for Australia ($15,872 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 India (+66.7%), while the prices for the other major suppliers experienced a decline.
Price for Fresh or Chilled Boneless Cuts of Bovine Meat in Malaysia (FOB) - 2022
In 2022, the average export price for fresh or chilled boneless cuts of bovine meat amounted to $3,266 per ton, picking up by 2.7% against the previous year. In general, the export price, however, showed a mild decrease. The pace of growth was the most pronounced in 2016 an increase of 10% against the previous year. Over the period under review, the average export prices reached the peak figure at $3,631 per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.
As there is only one major export destination, the average price level is determined by prices for Thailand.
From 2012 to 2022, the rate of growth in terms of prices for Thailand amounted to -1.1% per year.
Imports of Fresh or Chilled Boneless Cuts of Bovine Meat in Malaysia
In 2022, approx. 2.1K tons of fresh or chilled boneless cuts of bovine meat were imported into Malaysia; increasing by 3.5% against 2021 figures. The total import volume increased at an average annual rate of +7.3% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The growth pace was the most rapid in 2020 when imports increased by 13% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.
In value terms, imports of fresh or chilled boneless cuts of bovine meat skyrocketed to $39M in 2022. In general, imports saw a significant increase. The pace of growth was the most pronounced in 2021 when imports increased by 40%. Imports peaked in 2022 and are expected to retain growth in the immediate term.
| Import of Fresh or Chilled Boneless Cuts of Bovine Meat in Malaysia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Australia | 16.3 | 20.1 | 23.6 | 29.6 | 22.0% |
| Japan | 0.9 | 2.1 | 7.0 | 7.6 | 103.6% |
| Argentina | N/A | N/A | 1.0 | 1.1 | 10.0% |
| New Zealand | 0.8 | 0.3 | 0.4 | 0.7 | -4.4% |
| Others | 0.9 | 0.4 | 0.3 | 0.2 | -39.4% |
| Total | 18.8 | 23.0 | 32.2 | 39.1 | 27.6% |
Top Suppliers of Fresh or Chilled Boneless Cuts of Bovine Meat to Malaysia in 2022:
- Australia (1855.8 tons)
- Japan (162.7 tons)
- Argentina (59.1 tons)
- New Zealand (38.3 tons)
Exports of Fresh or Chilled Boneless Cuts of Bovine Meat in Malaysia
Exports of fresh or chilled boneless cuts of bovine meat from Malaysia shrank sharply to 496 tons in 2022, falling by -20.3% against the year before. In general, exports, however, showed a significant increase. The most prominent rate of growth was recorded in 2021 when exports increased by 529% against the previous year. As a result, the exports reached the peak of 623 tons, and then fell rapidly in the following year.
In value terms, exports of fresh or chilled boneless cuts of bovine meat fell markedly to $1.6M in 2022. Over the period under review, exports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 501%. As a result, the exports reached the peak of $2M, and then reduced sharply in the following year.
| Export of Fresh or Chilled Boneless Cuts of Bovine Meat in Malaysia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Thailand | 523 | 290 | 1,977 | 1,620 | 45.8% |
| New Zealand | N/A | N/A | 3.1 | N/A | 0% |
| Oman | 186 | 18.1 | N/A | N/A | -90.3% |
| Others | N/A | 20.9 | N/A | N/A | 0% |
| Total | 708 | 329 | 1,980 | 1,620 | 31.8% |
Top Export Markets for Fresh or Chilled Boneless Cuts of Bovine Meat from Malaysia in 2022:
- Thailand (496.0 tons)
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