Price for Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Luxembourg - 2023

Contents:

1. Price for Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Luxembourg (CIF) - 2023
2. Price for Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Luxembourg (FOB) - 2023
3. Imports of Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Luxembourg
4. Exports of Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Luxembourg

Price for Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Luxembourg (CIF) - 2023

In August 2023, the average import price for fresh or chilled bone-in cuts (excluding carcasses and half-carcasses) of bovine meat amounted to $10,370 per ton, therefore, remained relatively stable against the previous month. Over the last twelve months, it increased at an average monthly rate of +1.2%. The pace of growth was the most pronounced in December 2022 when the average import price increased by 10% m-o-m. The import price peaked at $10,480 per ton in April 2023; however, from May 2023 to August 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In August 2023, the country with the highest price was Portugal ($18,515 per ton), while the price for Germany ($7,831 per ton) was amongst the lowest.

From August 2022 to August 2023, the most notable rate of growth in terms of prices was attained by Portugal (+2.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Luxembourg (FOB) - 2023

The average export price for fresh or chilled bone-in cuts (excluding carcasses and half-carcasses) of bovine meat stood at $21,141 per ton in October 2023, growing by 70% against the previous month. Over the period under review, the export price recorded a prominent expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Azerbaijan.

From October 2022 to October 2023, the rate of growth in terms of prices for Belgium amounted to +5.3% per month.

Imports of Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Luxembourg

Imports of fresh or chilled bone-in cuts (excluding carcasses and half-carcasses) of bovine meat into Luxembourg stood at 1.6K tons in 2022, increasing by 5.9% compared with the previous year's figure. The total import volume increased at an average annual rate of +2.8% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 9.6% against the previous year. Over the period under review, imports of hit record highs in 2022 and are likely to continue growth in the near future.

In value terms, imports of fresh or chilled bone-in cuts (excluding carcasses and half-carcasses) of bovine meat expanded remarkably to $15M in 2022. The total import value increased at an average annual rate of +8.1% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 23%. Imports peaked in 2022 and are expected to retain growth in years to come.

Top Suppliers of Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat to Luxembourg in 2022:

1. Belgium (769.8 tons)
2. Netherlands (354.7 tons)
3. France (300.3 tons)
4. Ireland (64.5 tons)
5. Germany (47.8 tons)
6. Portugal (37.7 tons)

Exports of Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Luxembourg

In 2022, overseas shipments of fresh or chilled bone-in cuts (excluding carcasses and half-carcasses) of bovine meat decreased by -17.4% to 326 tons, falling for the second consecutive year after two years of growth. Overall, exports continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2020 with an increase of 23%. As a result, the exports reached the peak of 495 tons. From 2021 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of fresh or chilled bone-in cuts (excluding carcasses and half-carcasses) of bovine meat contracted to $2.6M in 2022. The total export value increased at an average annual rate of +4.7% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of 25%.

Top Export Markets for Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat from Luxembourg in 2022:

1. Germany (131.5 tons)
2. France (105.7 tons)
3. Belgium (88.6 tons)

Source: IndexBox Market Intelligence Platform