Price for Meat of Bovine Animals; Fresh or Chilled in South Korea - 2022
Contents:
- Price for Meat of Bovine Animals; Fresh or Chilled in South Korea (CIF) - 2022
- Price for Meat of Bovine Animals; Fresh or Chilled in South Korea (FOB) - 2022
- Imports of Meat of Bovine Animals; Fresh or Chilled in South Korea
- Exports of Meat of Bovine Animals; Fresh or Chilled in South Korea
Price for Meat of Bovine Animals; Fresh or Chilled in South Korea (CIF) - 2022
In December 2022, the average import price for meat of bovine animals; fresh or chilled amounted to $11,829 per ton, dropping by -1.7% against the previous month. Overall, the import price showed a slight downturn. The pace of growth appeared the most rapid in February 2022 an increase of 3% against the previous month. Over the period under review, average import prices reached the peak figure at $14,618 per ton in March 2022; however, from April 2022 to December 2022, import prices stood at a somewhat lower figure.
Average prices varied noticeably amongst the major supplying countries. In December 2022, the country with the highest price was Australia ($11,848 per ton), while the price for the United States amounted to $11,820 per ton.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by Australia (-0.7%).
Price for Meat of Bovine Animals; Fresh or Chilled in South Korea (FOB) - 2022
The average export price for meat of bovine animals; fresh or chilled stood at $71,048 per ton in December 2022, with an increase of 5.9% against the previous month. In general, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in June 2022 an increase of 16% against the previous month. Over the period under review, the average export prices attained the peak figure at $82,524 per ton in January 2022; however, from February 2022 to December 2022, the export prices remained at a lower figure.
Average prices varied noticeably for the major foreign markets. In December 2022, the country with the highest price was Hong Kong SAR ($72,044 per ton), while the average price for exports to Mongolia amounted to $60,112 per ton.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to Mongolia (+1.5%).
Imports of Meat of Bovine Animals; Fresh or Chilled in South Korea
After three years of growth, supplies from abroad of meat of bovine animals; fresh or chilled decreased by -12.1% to 104K tons in 2022. The total import volume increased at an average annual rate of +5.5% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 19% against the previous year. As a result, imports reached the peak of 118K tons, and then fell in the following year.
In value terms, imports of meat of bovine animals; fresh or chilled shrank modestly to $1.4B in 2022. In general, total imports indicated a buoyant expansion from 2019 to 2022: its value increased at an average annual rate of +16.5% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +58.0% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 46%. As a result, imports reached the peak of $1.4B, and then fell in the following year.
| Import of Meat of Bovine Animals; Fresh or Chilled in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 540 | 622 | 948 | 899 | 18.5% |
| Australia | 323 | 352 | 469 | 470 | 13.3% |
| Others | 5.3 | 4.8 | 8.7 | 3.1 | -16.4% |
| Total | 868 | 979 | 1,425 | 1,372 | 16.5% |
Top Suppliers of Meat of Bovine Animals; Fresh or Chilled to South Korea in 2022:
- United States (67.0K tons)
- Australia (36.3K tons)
Exports of Meat of Bovine Animals; Fresh or Chilled in South Korea
In 2022, the amount of meat of bovine animals; fresh or chilled exported from South Korea skyrocketed to 43 tons, with an increase of 18% on 2021 figures. Overall, exports, however, recorded a relatively flat trend pattern.
In value terms, exports of meat of bovine animals; fresh or chilled stood at $3M in 2022. The total export value increased at an average annual rate of +6.0% over the period from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2020 when exports increased by 21%. As a result, the exports reached the peak of $3M; afterwards, it flattened through to 2022.
| Export of Meat of Bovine Animals; Fresh or Chilled in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Hong Kong SAR | 2.5 | 3.0 | 2.8 | 2.8 | 3.8% |
| Mongolia | N/A | N/A | N/A | 0.2 | 0% |
| United Arab Emirates | N/A | N/A | N/A | N/A | 0% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 2.5 | 3.0 | 2.9 | 3.0 | 6.3% |
Top Export Markets for Meat of Bovine Animals; Fresh or Chilled from South Korea in 2022:
- Hong Kong SAR (39.1 tons)
- Mongolia (4.2 tons)
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