Price for Frozen Boneless Cuts of Bovine Meat in Pakistan - 2023
Contents:
- Price for Frozen Boneless Cuts of Bovine Meat in Pakistan (CIF) - 2023
- Price for Frozen Boneless Cuts of Bovine Meat in Pakistan (FOB) - 2023
- Imports of Frozen Boneless Cuts of Bovine Meat in Pakistan
- Exports of Frozen Boneless Cuts of Bovine Meat in Pakistan
Price for Frozen Boneless Cuts of Bovine Meat in Pakistan (CIF) - 2023
The average import price for frozen boneless cuts of bovine meat stood at $7,005 per ton in July 2023, growing by 76% against the previous month. Overall, the import price recorded resilient growth. Over the period under review, average import prices reached the maximum at $8,184 per ton in March 2023; however, from April 2023 to July 2023, import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was Malaysia ($7,640 per ton), while the price for the United Arab Emirates totaled $2,670 per ton.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Jordan (+12.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Frozen Boneless Cuts of Bovine Meat in Pakistan (FOB) - 2023
The average export price for frozen boneless cuts of bovine meat stood at $2,986 per ton in July 2023, dropping by -11% against the previous month. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in February 2023 when the average export price increased by 165% month-to-month. The export price peaked at $4,437 per ton in May 2023; however, from June 2023 to July 2023, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major foreign markets. In July 2023, the country with the highest price was Uzbekistan ($4,124 per ton), while the average price for exports to Vietnam ($1,671 per ton) was amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+4.8%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Frozen Boneless Cuts of Bovine Meat in Pakistan
In 2022, the amount of frozen boneless cuts of bovine meat imported into Pakistan soared to 554 tons, jumping by 107% compared with the previous year. In general, imports posted tangible growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, imports of frozen boneless cuts of bovine meat surged to $2M in 2022. Overall, total imports indicated buoyant growth from 2019 to 2022: its value increased at an average annual rate of +5.2% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +99.2% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 52% against the previous year. Over the period under review, imports of reached the peak figure in 2022 and are expected to retain growth in the near future.
| Import of Frozen Boneless Cuts of Bovine Meat in Pakistan (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Arab Emirates | 1,087 | 946 | 1,256 | 1,401 | 8.8% |
| Jordan | 34.3 | 22.6 | 174 | 324 | 111.4% |
| Malaysia | 14.0 | N/A | 75.4 | 158 | 124.3% |
| Egypt | N/A | N/A | 11.6 | 98.0 | 744.8% |
| India | 456 | N/A | N/A | N/A | 0% |
| Australia | 82.0 | 29.2 | 4.3 | N/A | -77.1% |
| Others | 36.5 | N/A | N/A | 8.7 | -38.0% |
| Total | 1,710 | 998 | 1,520 | 1,988 | 5.1% |
Top Suppliers of Frozen Boneless Cuts of Bovine Meat to Pakistan in 2022:
- United Arab Emirates (401.0 tons)
- Jordan (65.5 tons)
- Malaysia (51.5 tons)
- Egypt (32.0 tons)
Exports of Frozen Boneless Cuts of Bovine Meat in Pakistan
For the third year in a row, Pakistan recorded decline in overseas shipments of frozen boneless cuts of bovine meat, which decreased by -47.8% to 264 tons in 2022. Over the period under review, exports continue to indicate a significant decline. The smallest decline of -35.4% was in 2020.
In value terms, exports of frozen boneless cuts of bovine meat reduced dramatically to $846K in 2022. In general, exports showed a dramatic decrease. The smallest decline of -36% was in 2020.
| Export of Frozen Boneless Cuts of Bovine Meat in Pakistan (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Saudi Arabia | 618 | 106 | 670 | 323 | -19.4% |
| Thailand | N/A | 369 | 297 | 241 | -19.2% |
| Uzbekistan | N/A | 116 | N/A | 200 | 31.3% |
| Oman | 32.7 | 109 | 132 | 35.6 | 2.9% |
| Qatar | 59.1 | 1.1 | N/A | 19.7 | -30.7% |
| Hong Kong SAR | 593 | 305 | 115 | 15.6 | -70.3% |
| Malaysia | 2,010 | 3,188 | 52.1 | 2.0 | -90.0% |
| Kuwait | N/A | 499 | N/A | N/A | 0% |
| Vietnam | 3,533 | 945 | 53.0 | N/A | -87.8% |
| Azerbaijan | 3,056 | 702 | 244 | N/A | -71.7% |
| Others | 15.7 | 6.1 | 173 | 9.5 | -15.4% |
| Total | 9,917 | 6,346 | 1,736 | 846 | -56.0% |
Top Export Markets for Frozen Boneless Cuts of Bovine Meat from Pakistan in 2022:
- Saudi Arabia (100.5 tons)
- Thailand (74.2 tons)
- Uzbekistan (60.3 tons)
- Oman (13.9 tons)
- Hong Kong SAR (6.0 tons)
- Qatar (5.6 tons)
- Malaysia (0.6 tons)
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