Price for Frozen Boneless Cuts of Bovine Meat in Mexico - 2023
Contents:
- Price for Frozen Boneless Cuts of Bovine Meat in Mexico (FOB) - 2023
- Price for Frozen Boneless Cuts of Bovine Meat in Mexico (CIF) - 2023
- Exports of Frozen Boneless Cuts of Bovine Meat in Mexico
- Imports of Frozen Boneless Cuts of Bovine Meat in Mexico
Price for Frozen Boneless Cuts of Bovine Meat in Mexico (FOB) - 2023
In November 2023, the average export price for frozen boneless cuts of bovine meat amounted to $6,265 per ton, surging by 4.8% against the previous month. In general, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in January 2023 when the average export price increased by 8.5% m-o-m. The export price peaked in November 2023.
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 Japan amounted to +1.5% per month.
Price for Frozen Boneless Cuts of Bovine Meat in Mexico (CIF) - 2023
In November 2023, the average import price for frozen boneless cuts of bovine meat amounted to $5,839 per ton, declining by -11.9% against the previous month. Over the period under review, the import price, however, enjoyed strong growth. The most prominent rate of growth was recorded in July 2023 when the average import price increased by 199% m-o-m. Over the period under review, average import prices reached the peak figure at $10,387 per ton in April 2023; however, from May 2023 to November 2023, import prices failed to regain momentum.
Average prices varied somewhat amongst the major supplying countries. In November 2023, the country with the highest price was the United States ($7,083 per ton), while the price for Brazil totaled $4,933 per ton.
From December 2022 to November 2023, the most notable rate of growth in terms of prices was attained by Brazil (+3.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Frozen Boneless Cuts of Bovine Meat in Mexico
In 2022, the amount of frozen boneless cuts of bovine meat exported from Mexico skyrocketed to 35K tons, rising by 23% on the previous year. The total export volume increased at an average annual rate of +3.7% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period.
In value terms, exports of frozen boneless cuts of bovine meat skyrocketed to $200M in 2022. Over the period under review, total exports indicated a buoyant expansion from 2019 to 2022: its value increased at an average annual rate of +17.3% 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 +61.4% against 2019 indices. The growth pace was the most rapid in 2020 when exports increased by 29%. The exports peaked in 2022 and are expected to retain growth in years to come.
| Export of Frozen Boneless Cuts of Bovine Meat in Mexico (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 62.0 | 97.7 | 89.0 | 140 | 31.2% |
| Japan | 42.6 | 42.1 | 49.1 | 36.9 | -4.7% |
| South Korea | 19.6 | 20.9 | 13.1 | 20.6 | 1.7% |
| Canada | N/A | N/A | 5.2 | 3.3 | -36.5% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 124 | 161 | 156 | 200 | 17.3% |
Top Export Markets for Frozen Boneless Cuts of Bovine Meat from Mexico in 2022:
- United States (24.7K tons)
- Japan (6.8K tons)
- South Korea (3.3K tons)
- Canada (0.5K tons)
Imports of Frozen Boneless Cuts of Bovine Meat in Mexico
In 2022, the amount of frozen boneless cuts of bovine meat imported into Mexico amounted to 4.2K tons, remaining constant against 2021. Overall, imports, however, faced a abrupt downturn. The pace of growth was the most pronounced in 2020 when imports increased by 2.5%. As a result, imports reached the peak of 6.2K 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 soared to $34M in 2022. The total import value increased at an average annual rate of +3.9% from 2019 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Frozen Boneless Cuts of Bovine Meat in Mexico (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 30.3 | 30.5 | 25.2 | 30.1 | -0.2% |
| Canada | N/A | N/A | 3.0 | 3.8 | 26.7% |
| Others | N/A | N/A | 1.1 | N/A | 0% |
| Total | 30.3 | 30.5 | 29.3 | 33.9 | 3.8% |
Top Suppliers of Frozen Boneless Cuts of Bovine Meat to Mexico in 2022:
- United States (3.2K tons)
- Canada (0.9K tons)
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