Price for Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in the UK - 2023

Contents:

1. Price for Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in the UK (FOB) - 2022
2. Price for Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in the UK (CIF) - 2023
3. Exports of Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in the UK
4. Imports of Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in the UK

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

In 2022, the average export price for frozen bone-in cuts (excluding carcasses and half-carcasses) of bovine meat amounted to $4,390 per ton, surging by 23% against the previous year. Overall, export price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for frozen bone-in cuts (excluding carcasses and half-carcasses) of bovine meat increased by +35.1% against 2020 indices. The most prominent rate of growth was recorded in 2017 an increase of 90% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($6,030 per ton), while the average price for exports to South Africa ($816 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+35.1%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in the UK (CIF) - 2023

In November 2023, the average import price for frozen bone-in cuts (excluding carcasses and half-carcasses) of bovine meat amounted to $3,200 per ton, picking up by 6.2% against the previous month. In general, import price indicated a modest increase from November 2022 to November 2023: its price increased at an average monthly rate of +1.1% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on November 2023 figures, import price for frozen bone-in cuts (excluding carcasses and half-carcasses) of bovine meat increased by +27.7% against September 2023 indices. The most prominent rate of growth was recorded in August 2023 an increase of 35% m-o-m. As a result, import price reached the peak level of $4,963 per ton. From September 2023 to November 2023, the average import prices remained at a lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was the Netherlands ($6,394 per ton), while the price for Ireland ($2,657 per ton) was amongst the lowest.

From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by the Netherlands (+5.3%), 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 the UK

In 2022, overseas shipments of frozen bone-in cuts (excluding carcasses and half-carcasses) of bovine meat decreased by -5.6% to 3.4K tons, falling for the second year in a row after two years of growth. In general, exports saw a abrupt decrease. The most prominent rate of growth was recorded in 2020 with an increase of 21% against the previous year. As a result, the exports reached the peak of 5.4K tons. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of frozen bone-in cuts (excluding carcasses and half-carcasses) of bovine meat soared to $15M in 2022. Overall, exports recorded a mild curtailment.

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

1. Japan (1009.2 tons)
2. Hong Kong SAR (713.8 tons)
3. South Africa (241.8 tons)
4. Canada (237.1 tons)
5. Ghana (216.6 tons)
6. Philippines (138.5 tons)
7. Cote d'Ivoire (73.0 tons)
8. Ireland (38.8 tons)
9. China (5.7 tons)

Imports of Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in the UK

In 2022, imports of frozen bone-in cuts (excluding carcasses and half-carcasses) of bovine meat into the UK declined modestly to 1.6K tons, dropping by -2.3% on the previous year. Over the period under review, imports saw a dramatic setback.

In value terms, imports of frozen bone-in cuts (excluding carcasses and half-carcasses) of bovine meat declined to $5.6M in 2022. Overall, imports continue to indicate a deep slump. The growth pace was the most rapid in 2020 with an increase of 14% against the previous year. As a result, imports attained the peak of $12M. From 2021 to 2022, the growth of imports of remained at a lower figure.

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

1. Germany (617.6 tons)
2. Poland (403.9 tons)
3. Ireland (189.9 tons)
4. Netherlands (176.0 tons)
5. New Zealand (44.5 tons)
6. Spain (26.3 tons)
7. Italy (24.6 tons)

Source: IndexBox Market Intelligence Platform