Price for Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Malaysia - 2023
Contents:
- Price for Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Malaysia (CIF) - 2023
- Imports of Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Malaysia
Price for Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Malaysia (CIF) - 2023
In December 2023, the average import price for fresh or chilled bone-in cuts (excluding carcasses and half-carcasses) of bovine meat amounted to $22,190 per ton, growing by 7.7% against the previous month. Over the period under review, import price indicated a pronounced increase from December 2022 to December 2023: its price increased at an average monthly rate of +3.9% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on December 2023 figures, import price for fresh or chilled bone-in cuts (excluding carcasses and half-carcasses) of bovine meat increased by +36.4% against October 2023 indices. The growth pace was the most rapid in January 2023 when the average import price increased by 67% m-o-m. Over the period under review, average import prices hit record highs at $23,589 per ton in September 2023; however, from October 2023 to December 2023, import prices failed to regain momentum.
As there is only one major supplying country, the average price level is determined by prices for Australia.
From December 2022 to December 2023, the rate of growth in terms of prices for Australia amounted to +3.9% per month.
Imports of Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Malaysia
In 2022, the amount of fresh or chilled bone-in cuts (excluding carcasses and half-carcasses) of bovine meat imported into Malaysia skyrocketed to 319 tons, picking up by 106% on the year before. In general, imports recorded a resilient expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, imports of fresh or chilled bone-in cuts (excluding carcasses and half-carcasses) of bovine meat skyrocketed to $5.7M in 2022. Over the period under review, imports posted a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Malaysia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Australia | 1,715 | 1,279 | 2,335 | 5,173 | 44.5% |
| United States | 87.8 | 18.4 | 140 | 218 | 35.4% |
| Argentina | N/A | 2.7 | N/A | 151 | 647.8% |
| New Zealand | 46.4 | 69.7 | 35.3 | 37.5 | -6.9% |
| Netherlands | 39.1 | 42.8 | 53.6 | N/A | 17.1% |
| Others | 30.4 | 47.5 | 42.0 | 78.7 | 37.3% |
| Total | 1,919 | 1,460 | 2,606 | 5,658 | 43.4% |
Top Suppliers of Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat to Malaysia in 2022:
- Australia (298.7 tons)
- United States (8.4 tons)
- Argentina (6.6 tons)
- New Zealand (3.4 tons)
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