Price for Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Malaysia - 2023
Contents:
- Price for Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Malaysia (CIF) - 2023
- Price for Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Malaysia (FOB) - 2022
- Imports of Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Malaysia
- Exports of Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Malaysia
Price for Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Malaysia (CIF) - 2023
The average import price for frozen bone-in cuts (excluding carcasses and half-carcasses) of bovine meat stood at $2,141 per ton in December 2023, shrinking by -26.3% against the previous month. In general, the import price recorded a noticeable setback. The growth pace was the most rapid in November 2023 an increase of 35% m-o-m. Over the period under review, average import prices attained the peak figure at $3,721 per ton in December 2022; however, from January 2023 to December 2023, import prices remained at a lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was New Zealand ($6,965 per ton), while the price for Australia ($1,716 per ton) was amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by New Zealand (+6.0%), while the prices for the other major suppliers experienced a decline.
Price for Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Malaysia (FOB) - 2022
The average export price for frozen bone-in cuts (excluding carcasses and half-carcasses) of bovine meat stood at $12,943 per ton in 2022, remaining stable against the previous year. Overall, the export price posted a significant expansion. The growth pace was the most rapid in 2013 an increase of 47%. The export price peaked in 2022 and is expected to retain growth in the near future.
As there is only one major export destination, the average price level is determined by prices for Cambodia.
From 2012 to 2022, the rate of growth in terms of prices for Thailand amounted to +57.4% per year.
Imports of Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Malaysia
In 2022, purchases abroad of frozen bone-in cuts (excluding carcasses and half-carcasses) of bovine meat increased by 56% to 11K tons for the first time since 2019, thus ending a two-year declining trend. In general, imports, however, saw a pronounced contraction.
In value terms, imports of frozen bone-in cuts (excluding carcasses and half-carcasses) of bovine meat surged to $42M in 2022. Overall, imports posted a buoyant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Malaysia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Australia | 16.0 | 10.4 | 11.5 | 17.2 | 2.4% |
| New Zealand | 8.1 | 11.1 | 4.3 | 9.7 | 6.2% |
| Brazil | 1.0 | 0.3 | N/A | 7.2 | 93.1% |
| India | 0.9 | 1.2 | 2.3 | 3.8 | 61.6% |
| Argentina | 0.2 | 0.4 | 3.0 | 3.2 | 152.0% |
| Singapore | 0.1 | 0.2 | 0.2 | 0.5 | 71.0% |
| Others | 1.7 | 0.2 | 0.1 | 0.2 | -51.0% |
| Total | 28.0 | 23.8 | 21.4 | 41.8 | 14.3% |
Top Suppliers of Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat to Malaysia in 2022:
- Australia (5.0K tons)
- New Zealand (2.3K tons)
- Brazil (1.6K tons)
- India (0.9K tons)
- Argentina (0.8K tons)
- Singapore (0.4K tons)
Exports of Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Malaysia
For the third year in a row, Malaysia recorded decline in overseas shipments of frozen bone-in cuts (excluding carcasses and half-carcasses) of bovine meat, which decreased by 0% to 797 kg in 2022. Overall, exports faced a dramatic descent. The smallest decline of -62.2% was in 2020.
In value terms, exports of frozen bone-in cuts (excluding carcasses and half-carcasses) of bovine meat totaled $10K in 2022. Over the period under review, exports showed a precipitous slump. The smallest decline of -58.5% was in 2020.
| Export of Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Malaysia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Cambodia | N/A | 3.2 | N/A | 10.3 | 79.4% |
| Hong Kong SAR | 1,141 | 297 | N/A | N/A | -74.0% |
| Vietnam | N/A | 95.5 | N/A | N/A | 0% |
| Singapore | N/A | 78.1 | N/A | N/A | 0% |
| Others | 1.5 | N/A | N/A | N/A | 0% |
| Total | 1,143 | 474 | N/A | 10.3 | -79.2% |
Top Export Markets for Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat from Malaysia in 2022:
- Cambodia (797.0 kg)
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