Price for Fresh or Chilled Boneless Cuts of Bovine Meat in China - 2023
Contents:
- Price for Fresh or Chilled Boneless Cuts of Bovine Meat in China (CIF) - 2023
- Imports of Fresh or Chilled Boneless Cuts of Bovine Meat in China
Price for Fresh or Chilled Boneless Cuts of Bovine Meat in China (CIF) - 2023
The average import price for fresh or chilled boneless cuts of bovine meat stood at $10,183 per ton in December 2023, remaining relatively unchanged against the previous month. Over the period under review, the import price, however, recorded a slight decline. The growth pace was the most rapid in August 2023 when the average import price increased by 11% month-to-month. The import price peaked at $12,908 per ton in January 2023; however, from February 2023 to December 2023, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In December 2023, the country with the highest price was the United States ($15,611 per ton), while the price for Argentina ($5,573 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 the United States (+0.3%), while the prices for the other major suppliers experienced a decline.
Imports of Fresh or Chilled Boneless Cuts of Bovine Meat in China
In 2022, after three years of growth, there was decline in overseas purchases of fresh or chilled boneless cuts of bovine meat, when their volume decreased by -2.4% to 51K tons. The total import volume increased at an average annual rate of +12.1% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when imports increased by 31%.
In value terms, imports of fresh or chilled boneless cuts of bovine meat amounted to $659M in 2022. Overall, imports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2021 when imports increased by 46% against the previous year. 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 China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Australia | 212 | 280 | 280 | 312 | 13.7% |
| United States | 10.2 | 41.5 | 186 | 244 | 188.1% |
| New Zealand | 58.5 | 57.5 | 72.8 | 79.5 | 10.8% |
| Argentina | 0.4 | 7.8 | 22.0 | 18.2 | 257.0% |
| Uruguay | 0.5 | 7.7 | 13.7 | 1.1 | 30.1% |
| Others | 1.0 | 1.3 | 3.6 | 4.0 | 58.7% |
| Total | 283 | 396 | 578 | 659 | 32.5% |
Top Suppliers of Fresh or Chilled Boneless Cuts of Bovine Meat to China in 2022:
- Australia (22.9K tons)
- United States (16.1K tons)
- New Zealand (9.7K tons)
- Argentina (2.3K tons)
- Uruguay (0.1K tons)
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