Price for Fresh or Chilled Boneless Cuts of Bovine Meat in South Africa - 2023
Contents:
- Price for Fresh or Chilled Boneless Cuts of Bovine Meat in South Africa (FOB) - 2023
- Price for Fresh or Chilled Boneless Cuts of Bovine Meat in South Africa (CIF) - 2022
- Exports of Fresh or Chilled Boneless Cuts of Bovine Meat in South Africa
- Imports of Fresh or Chilled Boneless Cuts of Bovine Meat in South Africa
Price for Fresh or Chilled Boneless Cuts of Bovine Meat in South Africa (FOB) - 2023
In December 2023, the average export price for fresh or chilled boneless cuts of bovine meat amounted to $4,516 per ton, reducing by -12.8% against the previous month. Overall, the export price saw a pronounced shrinkage. The most prominent rate of growth was recorded in August 2023 when the average export price increased by 25% against the previous month. As a result, the export price reached the peak level of $7,515 per ton. From September 2023 to December 2023, the the average export prices failed to regain momentum.
Prices varied noticeably by the country of destination: the country with the highest price was the United Arab Emirates ($7,335 per ton), while the average price for exports to Lesotho ($2,465 per ton) was amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+4.7%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Fresh or Chilled Boneless Cuts of Bovine Meat in South Africa (CIF) - 2022
The average import price for fresh or chilled boneless cuts of bovine meat stood at $7,398 per ton in 2022, growing by 72% against the previous year. Overall, the import price recorded resilient growth. As a result, import price reached the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Argentina ($15,696 per ton), while the price for Namibia ($4,052 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+70.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Fresh or Chilled Boneless Cuts of Bovine Meat in South Africa
In 2022, exports of fresh or chilled boneless cuts of bovine meat from South Africa skyrocketed to 14K tons, rising by 16% compared with 2021 figures. The total export volume increased at an average annual rate of +13.8% 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 appeared the most rapid in 2020 when exports increased by 35% against the previous year. Over the period under review, the exports of reached the peak figure 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 skyrocketed to $90M in 2022. Overall, total exports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +19.6% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +71.0% against 2019 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 27%. Over the period under review, the exports of attained the maximum in 2022 and are likely to see steady growth in the immediate term.
| Export of Fresh or Chilled Boneless Cuts of Bovine Meat in South Africa (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Kuwait | 16.2 | 20.5 | 24.0 | 24.8 | 15.3% |
| Jordan | 11.0 | 20.5 | 13.4 | 17.1 | 15.8% |
| United Arab Emirates | 9.6 | 7.4 | 11.1 | 15.4 | 17.1% |
| Qatar | 3.4 | 6.3 | 9.4 | 11.3 | 49.2% |
| Mozambique | 3.6 | 4.3 | 5.4 | 6.0 | 18.6% |
| Bahrain | 1.0 | 0.9 | 1.3 | 2.3 | 32.0% |
| Mauritius | 0.3 | 1.1 | 1.6 | 1.8 | 81.7% |
| Netherlands | 0.7 | 0.2 | 0.2 | 1.6 | 31.7% |
| Canada | N/A | N/A | 0.4 | 1.4 | 250.0% |
| Zimbabwe | N/A | 0.1 | 0.6 | 1.4 | 274.2% |
| Swaziland | 1.1 | 0.8 | 0.9 | 0.2 | -43.3% |
| Others | 5.7 | 4.5 | 4.6 | 6.7 | 5.5% |
| Total | 52.6 | 66.6 | 72.7 | 89.9 | 19.6% |
Top Export Markets for Fresh or Chilled Boneless Cuts of Bovine Meat from South Africa in 2022:
- Kuwait (3.4K tons)
- Jordan (2.5K tons)
- United Arab Emirates (1.9K tons)
- Qatar (1.2K tons)
- Mozambique (1.2K tons)
- Netherlands (0.7K tons)
- Canada (0.5K tons)
- Zimbabwe (0.4K tons)
- Bahrain (0.2K tons)
- Mauritius (0.2K tons)
- Swaziland (0.1K tons)
Imports of Fresh or Chilled Boneless Cuts of Bovine Meat in South Africa
In 2022, overseas purchases of fresh or chilled boneless cuts of bovine meat decreased by -43.5% to 33 tons, falling for the second year in a row after two years of growth. Over the period under review, imports saw a sharp decrease. The pace of growth was the most pronounced in 2020 with an increase of 71% against the previous year. As a result, imports reached the peak of 180 tons. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.
In value terms, imports of fresh or chilled boneless cuts of bovine meat shrank slightly to $244K in 2022. In general, imports continue to indicate a abrupt decline. The pace of growth was the most pronounced in 2020 with an increase of 66%. As a result, imports attained the peak of $505K. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.
| Import of Fresh or Chilled Boneless Cuts of Bovine Meat in South Africa (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Namibia | 90.3 | 92.8 | 179 | 90.8 | 0.2% |
| Australia | 11.4 | 68.0 | 59.6 | 64.7 | 78.4% |
| United States | 45.1 | 35.2 | 13.6 | 47.7 | 1.9% |
| Argentina | N/A | N/A | N/A | 41.1 | 0% |
| Botswana | 158 | 309 | N/A | N/A | 95.6% |
| Others | 0.1 | N/A | N/A | N/A | 0% |
| Total | 305 | 505 | 252 | 244 | -7.2% |
Top Suppliers of Fresh or Chilled Boneless Cuts of Bovine Meat to South Africa in 2022:
- Namibia (22.4 tons)
- Australia (4.9 tons)
- United States (3.0 tons)
- Argentina (2.6 tons)
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