Price for Fresh or Chilled Carcasses and Half-Carcasses of Bovine Meat in Canada - 2023

Contents:

1. Price for Fresh or Chilled Carcasses and Half-Carcasses of Bovine Meat in Canada (FOB) - 2023
2. Price for Fresh or Chilled Carcasses and Half-Carcasses of Bovine Meat in Canada (CIF) - 2022
3. Exports of Fresh or Chilled Carcasses and Half-Carcasses of Bovine Meat in Canada
4. Imports of Fresh or Chilled Carcasses and Half-Carcasses of Bovine Meat in Canada

Price for Fresh or Chilled Carcasses and Half-Carcasses of Bovine Meat in Canada (FOB) - 2023

The average export price for fresh or chilled carcasses and half-carcasses of bovine meat stood at $9,846 per ton in December 2023, increasing by 2.9% against the previous month. Overall, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in July 2023 when the average export price increased by 12% month-to-month. The export price peaked at $10,139 per ton in August 2023; however, from September 2023 to December 2023, the export prices stood at a somewhat lower figure.

Prices varied noticeably by the country of destination: the country with the highest price was Italy ($17,277 per ton), while the average price for exports to the United Arab Emirates ($6,808 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 Qatar (+7.3%), while the prices for the other major destinations experienced mixed trend patterns.

Price for Fresh or Chilled Carcasses and Half-Carcasses of Bovine Meat in Canada (CIF) - 2022

The average import price for fresh or chilled carcasses and half-carcasses of bovine meat stood at $2,881 per ton in 2022, therefore, remained relatively stable against the previous year. Overall, the import price recorded a pronounced downturn. The most prominent rate of growth was recorded in 2020 when the average import price decreased by -1.1%. Over the period under review, average import prices hit record highs at $3,753 per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($2,881 per ton), while the price for the Netherlands stood at $2,881 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (-1.7%).

Exports of Fresh or Chilled Carcasses and Half-Carcasses of Bovine Meat in Canada

For the fourth consecutive year, Canada recorded growth in shipments abroad of fresh or chilled carcasses and half-carcasses of bovine meat, which increased by 6.2% to 4.7K tons in 2022. Over the period under review, total exports indicated strong growth from 2019 to 2022: its volume increased at an average annual rate of +15.3% 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 +53.4% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 35%. The exports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, exports of fresh or chilled carcasses and half-carcasses of bovine meat soared to $46M in 2022. In general, total exports indicated a buoyant expansion from 2019 to 2022: its value increased at an average annual rate of +19.4% 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 +74.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 36%. Over the period under review, the exports of attained the maximum in 2022 and are expected to retain growth in the near future.

Top Export Markets for Fresh or Chilled Carcasses and Half-Carcasses of Bovine Meat from Canada in 2022:

1. United States (3634.2 tons)
2. Netherlands (469.8 tons)
3. Japan (364.6 tons)
4. United Arab Emirates (147.8 tons)

Imports of Fresh or Chilled Carcasses and Half-Carcasses of Bovine Meat in Canada

In 2022, imports of fresh or chilled carcasses and half-carcasses of bovine meat into Canada totaled 34 tons, therefore, remained relatively stable against the previous year's figure. Overall, imports saw a precipitous slump. The smallest decline of -95.1% was in 2020.

In value terms, imports of fresh or chilled carcasses and half-carcasses of bovine meat amounted to $99K in 2022. In general, imports saw a abrupt shrinkage. The smallest decline of -95.1% was in 2020.

Top Suppliers of Fresh or Chilled Carcasses and Half-Carcasses of Bovine Meat to Canada in 2022:

1. Netherlands (28.5 tons)
2. Japan (5.9 tons)

Source: IndexBox Market Intelligence Platform