Price for Fresh or Chilled Boneless Cuts of Bovine Meat in Mexico - 2023
Contents:
- Price for Fresh or Chilled Boneless Cuts of Bovine Meat in Mexico (FOB) - 2023
- Price for Fresh or Chilled Boneless Cuts of Bovine Meat in Mexico (CIF) - 2022
- Exports of Fresh or Chilled Boneless Cuts of Bovine Meat in Mexico
- Imports of Fresh or Chilled Boneless Cuts of Bovine Meat in Mexico
Price for Fresh or Chilled Boneless Cuts of Bovine Meat in Mexico (FOB) - 2023
In November 2023, the average export price for fresh or chilled boneless cuts of bovine meat amounted to $8,581 per ton, dropping by -2% against the previous month. Overall, the export price, however, saw a modest increase. The pace of growth appeared the most rapid in May 2023 an increase of 7% m-o-m. Over the period under review, the average export prices attained the maximum at $9,082 per ton in July 2023; however, from August 2023 to November 2023, the export prices failed to regain momentum.
As there is only one major export destination, the average price level is determined by prices for the United States.
From November 2022 to November 2023, the rate of growth in terms of prices for the United States amounted to +1.1% per month.
Price for Fresh or Chilled Boneless Cuts of Bovine Meat in Mexico (CIF) - 2022
The average import price for fresh or chilled boneless cuts of bovine meat stood at $8,198 per ton in 2022, dropping by -5.4% against the previous year. In general, import price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 an increase of 25% against the previous year. The import price peaked at $8,663 per ton in 2021, and then contracted in the following year.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($8,253 per ton), while the price for Canada stood at $7,838 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+4.2%).
Exports of Fresh or Chilled Boneless Cuts of Bovine Meat in Mexico
Exports of fresh or chilled boneless cuts of bovine meat from Mexico amounted to 153K tons in 2022, surging by 6.7% on 2021 figures. The total export volume increased at an average annual rate of +9.6% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 13% against the previous year. Over the period under review, the exports of hit record highs in 2022 and are expected to retain growth in years to come.
In value terms, exports of fresh or chilled boneless cuts of bovine meat rose slightly to $1.2B in 2022. In general, total exports indicated a remarkable increase from 2019 to 2022: its value increased at an average annual rate of +16.4% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +57.8% against 2019 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 31% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.
| Export of Fresh or Chilled Boneless Cuts of Bovine Meat in Mexico (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 766 | 836 | 1,131 | 1,148 | 14.4% |
| Canada | N/A | 30.5 | 17.0 | 34.2 | 5.9% |
| Japan | N/A | 23.6 | 14.6 | 27.2 | 7.4% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 766 | 890 | 1,163 | 1,209 | 16.4% |
Top Export Markets for Fresh or Chilled Boneless Cuts of Bovine Meat from Mexico in 2022:
- United States (146.2K tons)
- Canada (3.7K tons)
- Japan (3.4K tons)
Imports of Fresh or Chilled Boneless Cuts of Bovine Meat in Mexico
In 2022, approx. 83K tons of fresh or chilled boneless cuts of bovine meat were imported into Mexico; stabilizing at the year before. Overall, imports recorded a mild contraction. The growth pace was the most rapid in 2021 when imports increased by 19% against the previous year.
In value terms, imports of fresh or chilled boneless cuts of bovine meat reduced to $677M in 2022. Over the period under review, imports showed a perceptible descent. The most prominent rate of growth was recorded in 2021 when imports increased by 23%.
| Import of Fresh or Chilled Boneless Cuts of Bovine Meat in Mexico (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 646 | 514 | 631 | 571 | -4.0% |
| Canada | 87.1 | 68.4 | 84.7 | 105 | 6.4% |
| Others | 1.7 | 1.0 | 1.0 | 1.2 | -11.0% |
| Total | 735 | 583 | 716 | 677 | -2.7% |
Top Suppliers of Fresh or Chilled Boneless Cuts of Bovine Meat to Mexico in 2022:
- United States (69.1K tons)
- Canada (13.4K tons)
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