Price for Meat of Bovine Animals; Frozen in the Philippines - 2023
Contents:
- Price for Meat of Bovine Animals; Frozen in the Philippines (CIF) - 2023
- Price for Meat of Bovine Animals; Frozen in the Philippines (FOB) - 2022
- Imports of Meat of Bovine Animals; Frozen in the Philippines
- Exports of Meat of Bovine Animals; Frozen in the Philippines
Price for Meat of Bovine Animals; Frozen in the Philippines (CIF) - 2023
In June 2023, the average import price for meat of bovine animals; frozen amounted to $3,446 per ton, standing approximately at the previous month. Overall, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in February 2023 an increase of 10% against the previous month. The import price peaked at $3,870 per ton in July 2022; however, from August 2022 to June 2023, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In June 2023, the country with the highest price was Australia ($4,611 per ton), while the price for Ireland ($2,684 per ton) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by Belgium (+0.8%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Meat of Bovine Animals; Frozen in the Philippines (FOB) - 2022
In 2022, the average export price for meat of bovine animals; frozen amounted to $3,286 per ton, waning by -11.6% against the previous year. In general, the export price, however, saw strong growth. The most prominent rate of growth was recorded in 2013 an increase of 113%. Over the period under review, the average export prices attained the maximum at $3,717 per ton in 2021, and then contracted in the following year.
As there is only one major export destination, the average price level is determined by prices for Kuwait.
From 2012 to 2022, the rate of growth in terms of prices for the United Arab Emirates amounted to +2.6% per year.
Imports of Meat of Bovine Animals; Frozen in the Philippines
In 2022, the amount of meat of bovine animals; frozen imported into the Philippines totaled 150K tons, almost unchanged from the previous year's figure. The total import volume increased at an average annual rate of +6.3% 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 2021 when imports increased by 28% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the immediate term.
In value terms, meat of bovine animals; frozen imports amounted to $556M in 2022. Over the period under review, total imports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +10.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +45.8% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 37% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the immediate term.
| Import of Meat of Bovine Animals; Frozen in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Brazil | 109 | 117 | 161 | 170 | 16.0% |
| India | 92.0 | 90.8 | 139 | 147 | 16.9% |
| Australia | 92.3 | 69.6 | 96.2 | 102 | 3.4% |
| United States | 58.7 | 39.6 | 35.5 | 46.4 | -7.5% |
| Ireland | 37.3 | 38.0 | 43.3 | 45.7 | 7.0% |
| New Zealand | 13.0 | 9.3 | 13.5 | 14.3 | 3.2% |
| Netherlands | 2.9 | 6.1 | 6.9 | 7.3 | 36.0% |
| Others | 6.8 | 10.5 | 25.7 | 24.2 | 52.7% |
| Total | 412 | 381 | 521 | 556 | 10.5% |
Top Suppliers of Meat of Bovine Animals; Frozen to the Philippines in 2022:
- Brazil (45.7K tons)
- India (43.3K tons)
- Australia (22.7K tons)
- Ireland (13.9K tons)
- United States (10.6K tons)
- New Zealand (3.6K tons)
- Netherlands (2.8K tons)
Exports of Meat of Bovine Animals; Frozen in the Philippines
In 2022, after three years of growth, there was significant decline in overseas shipments of meat of bovine animals; frozen, when their volume decreased by -21.9% to 85 tons. Overall, exports, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 120%.
In value terms, meat of bovine animals; frozen exports shrank sharply to $280K in 2022. In general, exports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 286% against the previous year.
| Export of Meat of Bovine Animals; Frozen in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Kuwait | 2.0 | 155 | 1.4 | 280 | 419.2% |
| United Arab Emirates | N/A | N/A | 404 | N/A | 0% |
| Oman | 16.9 | N/A | N/A | N/A | 0% |
| Qatar | 21.1 | N/A | N/A | N/A | 0% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 40.0 | 155 | 405 | 280 | 91.3% |
Top Export Markets for Meat of Bovine Animals; Frozen from the Philippines in 2022:
- Kuwait (85.2 tons)
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