Price for Frozen Boneless Cuts of Bovine Meat in Canada - 2023
Contents:
- Price for Frozen Boneless Cuts of Bovine Meat in Canada (FOB) - 2023
- Price for Frozen Boneless Cuts of Bovine Meat in Canada (CIF) - 2023
- Exports of Frozen Boneless Cuts of Bovine Meat in Canada
- Imports of Frozen Boneless Cuts of Bovine Meat in Canada
Price for Frozen Boneless Cuts of Bovine Meat in Canada (FOB) - 2023
In December 2023, the average export price for frozen boneless cuts of bovine meat amounted to $6,288 per ton, with an increase of 5% against the previous month. Over the last twelve-month period, it increased at an average monthly rate of +1.9%. The pace of growth appeared the most rapid in April 2023 when the average export price increased by 12% against the previous month. Over the period under review, the average export prices hit record highs in December 2023.
There were significant differences in the average prices for the major foreign markets. In December 2023, the country with the highest price was Hong Kong SAR ($9,425 per ton), while the average price for exports to Japan ($4,415 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 South Korea (+2.4%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Frozen Boneless Cuts of Bovine Meat in Canada (CIF) - 2023
In December 2023, the average import price for frozen boneless cuts of bovine meat amounted to $5,288 per ton, increasing by 8.1% against the previous month. Overall, the import price, however, recorded a relatively flat trend pattern. The import price peaked at $5,757 per ton in July 2023; however, from August 2023 to December 2023, import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was the United States ($8,218 per ton), while the price for Uruguay ($4,625 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 Mexico (+3.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Frozen Boneless Cuts of Bovine Meat in Canada
After three years of growth, overseas shipments of frozen boneless cuts of bovine meat decreased by -17.3% to 79K tons in 2022. The total export volume increased at an average annual rate of +6.2% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by 38% against the previous year. As a result, the exports attained the peak of 95K tons, and then shrank rapidly in the following year.
In value terms, exports of frozen boneless cuts of bovine meat fell dramatically to $462M in 2022. Over the period under review, total exports indicated a remarkable increase from 2019 to 2022: its value increased at an average annual rate of +12.2% 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 +41.3% against 2019 indices. The growth pace was the most rapid in 2021 when exports increased by 63%. As a result, the exports attained the peak of $548M, and then shrank notably in the following year.
| Export of Frozen Boneless Cuts of Bovine Meat in Canada (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 116 | 106 | 142 | 172 | 14.0% |
| United States | 44.4 | 47.9 | 104 | 134 | 44.5% |
| Vietnam | 5.7 | 29.2 | 51.6 | 64.6 | 124.6% |
| South Korea | 10.8 | 10.4 | 44.6 | 54.6 | 71.6% |
| Hong Kong SAR | 55.6 | 43.0 | 31.9 | 14.1 | -36.7% |
| Taiwan (Chinese) | 11.5 | 8.9 | 7.7 | 5.1 | -23.7% |
| China | 74.8 | 75.0 | 154 | 1.0 | -76.3% |
| Others | 8.4 | 16.4 | 11.5 | 16.6 | 25.5% |
| Total | 327 | 337 | 548 | 462 | 12.2% |
Top Export Markets for Frozen Boneless Cuts of Bovine Meat from Canada in 2022:
- Japan (34.6K tons)
- United States (23.6K tons)
- Vietnam (9.3K tons)
- South Korea (6.4K tons)
- Hong Kong SAR (1.8K tons)
- Taiwan (Chinese) (0.6K tons)
- China (0.1K tons)
Imports of Frozen Boneless Cuts of Bovine Meat in Canada
In 2022, the amount of frozen boneless cuts of bovine meat imported into Canada amounted to 47K tons, leveling off at the previous year's figure. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 44% against the previous year. As a result, imports reached the peak of 68K tons. From 2021 to 2022, the growth of imports of remained at a lower figure.
In value terms, imports of frozen boneless cuts of bovine meat surged to $283M in 2022. Over the period under review, total imports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +10.2% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -12.7% against 2020 indices. The pace of growth appeared the most rapid in 2020 when imports increased by 53%. As a result, imports reached the peak of $324M. From 2021 to 2022, the growth of imports of remained at a lower figure.
| Import of Frozen Boneless Cuts of Bovine Meat in Canada (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| New Zealand | 57.0 | 84.2 | 59.0 | 56.3 | -0.4% |
| Australia | 67.0 | 51.2 | 23.8 | 45.3 | -12.2% |
| Uruguay | 32.6 | 68.7 | 39.3 | 43.6 | 10.2% |
| United States | 25.6 | 28.9 | 38.5 | 42.7 | 18.6% |
| Spain | 2.0 | 16.9 | 18.7 | 18.4 | 109.5% |
| United Kingdom | 9.8 | 19.8 | 9.1 | 17.8 | 22.0% |
| Brazil | N/A | N/A | N/A | 14.0 | 0% |
| Denmark | N/A | 5.6 | 7.6 | 9.8 | 32.3% |
| Others | 17.2 | 48.2 | 44.7 | 34.7 | 26.4% |
| Total | 211 | 324 | 241 | 283 | 10.3% |
Top Suppliers of Frozen Boneless Cuts of Bovine Meat to Canada in 2022:
- New Zealand (9.7K tons)
- Australia (7.9K tons)
- Uruguay (6.9K tons)
- United States (5.9K tons)
- Spain (3.1K tons)
- Brazil (3.0K tons)
- United Kingdom (3.0K tons)
- Denmark (2.2K tons)
1079
This report provides an in-depth analysis of the beef market in Canada.
561
This report provides an in-depth analysis of the beef market in Canada.
4219
This report provides an in-depth analysis of the global beef market.
961
Global Beef Market Report 2019. This report provides an in-depth analysis of the global beef market.
339
This report provides an in-depth analysis of the frozen beef carcase market in Canada.
497
Global Frozen Beef Carcase Market Report 2018. This report provides an in-depth analysis of the global frozen beef carcase market.
466
Explore the top import markets for beef, including China, the United States, South Korea, and more. Discover key statistics and figures from the IndexBox market intelligence platform.
697
The global beef market stood at $379.4B in 2021, approximately mirroring the previous year. This figure reflects the...
1791
The global beef market revenue amounted to $385.7B in 2018, growing by 5.1% against the previous year. This figure...
1310
Global beef market remained relatively stable, rising from X tons in 2007, to X tons in 2016.
3863
Global beef consumption amounted to X thousand tons in 2015, standing approx. at the previous year level.
1646
Global beef exports amounted to X thousand tons in 2015, going up by +X% against the previous year level.
1971
Global beef imports amounted to X thousand tons in 2015, standing approx. at the previous year level.
1033
In 2015, the countries with the highest levels of production in 2015 were the United States (X thousand tons), Brazil (X thousand tons), China (X thousand tons), together accounting for X% of total output.
1252
France dominates in the global beef trade. In 2014, France exported X thousand tons of beef totaling X million USD, X% under the previous year. Its primary trading partner was Italy, where it supplied X% of its total beef exports in value terms
