Price for Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Costa Rica - 2022

Contents:

1. Price for Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Costa Rica (FOB) - 2022
2. Price for Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Costa Rica (CIF) - 2022
3. Exports of Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Costa Rica
4. Imports of Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Costa Rica

Price for Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Costa Rica (FOB) - 2022

The average export price for frozen bone-in cuts (excluding carcasses and half-carcasses) of bovine meat stood at $2,956 per ton in 2022, leveling off at the previous year. In general, the export price recorded a prominent increase. The most prominent rate of growth was recorded in 2014 when the average export price increased by 66%. Over the period under review, the average export prices attained the maximum at $3,899 per ton in 2016; however, from 2017 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 China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to +1.1% per year.

Price for Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Costa Rica (CIF) - 2022

In 2022, the average import price for frozen bone-in cuts (excluding carcasses and half-carcasses) of bovine meat amounted to $7,191 per ton, approximately reflecting the previous year. In general, import price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +3.4% 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 frozen bone-in cuts (excluding carcasses and half-carcasses) of bovine meat increased by +69.8% against 2020 indices. The growth pace was the most rapid in 2021 an increase of 69%. Over the period under review, average import prices attained the maximum in 2022 and is likely to see steady growth in the immediate term.

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 the United States ($14,712 per ton), while the price for Nicaragua totaled $5,087 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+7.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Exports of Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Costa Rica

In 2022, overseas shipments of frozen bone-in cuts (excluding carcasses and half-carcasses) of bovine meat decreased by -5.4% to 8.4K tons for the first time since 2018, thus ending a three-year rising trend. In general, total exports indicated resilient growth from 2019 to 2022: its volume increased at an average annual rate of +12.7% 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 +43.3% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 32%. As a result, the exports attained the peak of 8.9K tons, and then dropped in the following year.

In value terms, exports of frozen bone-in cuts (excluding carcasses and half-carcasses) of bovine meat declined to $25M in 2022. Overall, exports, however, showed significant growth. The growth pace was the most rapid in 2021 when exports increased by 83% against the previous year. As a result, the exports attained the peak of $26M, and then reduced in the following year.

Top Export Markets for Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat from Costa Rica in 2022:

1. China (8.1K tons)

Imports of Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Costa Rica

In 2022, approx. 350 tons of frozen bone-in cuts (excluding carcasses and half-carcasses) of bovine meat were imported into Costa Rica; picking up by 24% on 2021 figures. In general, imports, however, showed a deep slump.

In value terms, imports of frozen bone-in cuts (excluding carcasses and half-carcasses) of bovine meat soared to $2.5M in 2022. Over the period under review, imports, however, continue to indicate a abrupt contraction. The pace of growth appeared the most rapid in 2021 with an increase of 77%.

Top Suppliers of Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat to Costa Rica in 2022:

1. Nicaragua (273.9 tons)
2. United States (76.5 tons)

Source: IndexBox Market Intelligence Platform