Price for Frozen Boneless Cuts of Bovine Meat in the UK - 2023
Contents:
- Price for Frozen Boneless Cuts of Bovine Meat in the UK (CIF) - 2023
- Price for Frozen Boneless Cuts of Bovine Meat in the UK (FOB) - 2023
- Imports of Frozen Boneless Cuts of Bovine Meat in the UK
- Exports of Frozen Boneless Cuts of Bovine Meat in the UK
Price for Frozen Boneless Cuts of Bovine Meat in the UK (CIF) - 2023
The average import price for frozen boneless cuts of bovine meat stood at $5,342 per ton in November 2023, with an increase of 7.5% against the previous month. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in June 2023 an increase of 53% m-o-m. The import price peaked at $5,918 per ton in July 2023; however, from August 2023 to November 2023, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In November 2023, the country with the highest price was Brazil ($6,865 per ton), while the price for Germany ($3,257 per ton) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by New Zealand (+0.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Frozen Boneless Cuts of Bovine Meat in the UK (FOB) - 2023
The average export price for frozen boneless cuts of bovine meat stood at $4,576 per ton in November 2023, jumping by 28% against the previous month. Over the last twelve-month period, it increased at an average monthly rate of +1.1%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by the country of destination: the country with the highest price was Canada ($7,618 per ton), while the average price for exports to South Africa ($1,252 per ton) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+8.6%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Frozen Boneless Cuts of Bovine Meat in the UK
Imports of frozen boneless cuts of bovine meat into the UK rose remarkably to 85K tons in 2022, growing by 7.2% on the previous year. The total import volume increased at an average annual rate of +5.1% from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. 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 skyrocketed to $441M in 2022. Overall, total imports indicated a prominent increase from 2019 to 2022: its value increased at an average annual rate of +17.5% 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 +62.3% against 2019 indices. 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 the UK (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Ireland | 194 | 213 | 255 | 275 | 12.3% |
| Germany | 10.2 | 12.9 | 18.5 | 61.6 | 82.1% |
| Poland | 13.9 | 20.4 | 17.2 | 25.3 | 22.1% |
| Netherlands | 14.2 | 16.9 | 17.6 | 13.7 | -1.2% |
| Brazil | 9.7 | 4.1 | 5.9 | 10.6 | 3.0% |
| Belgium | 7.2 | 7.1 | 8.8 | 8.4 | 5.3% |
| Spain | 5.1 | 5.0 | 4.3 | 6.4 | 7.9% |
| Others | 17.6 | 14.2 | 24.7 | 40.3 | 31.8% |
| Total | 272 | 293 | 352 | 441 | 17.5% |
Top Suppliers of Frozen Boneless Cuts of Bovine Meat to the UK in 2022:
- Ireland (52.3K tons)
- Germany (13.3K tons)
- Poland (4.6K tons)
- Netherlands (3.9K tons)
- Belgium (1.7K tons)
- Spain (1.6K tons)
- Brazil (1.5K tons)
Exports of Frozen Boneless Cuts of Bovine Meat in the UK
After three years of growth, shipments abroad of frozen boneless cuts of bovine meat decreased by -12.2% to 33K tons in 2022. The total export volume increased at an average annual rate of +2.4% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2020 with an increase of 16% against the previous year.
In value terms, exports of frozen boneless cuts of bovine meat stood at $126M in 2022. Overall, total exports indicated a resilient increase from 2019 to 2022: its value increased at an average annual rate of +14.2% 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 +48.9% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 28% against the previous year. Over the period under review, the exports of reached the peak figure in 2022 and are likely to continue growth in years to come.
| Export of Frozen Boneless Cuts of Bovine Meat in the UK (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Ireland | 21.4 | 17.3 | 32.0 | 26.5 | 7.4% |
| France | 12.3 | 6.8 | 13.1 | 12.5 | 0.5% |
| Hong Kong SAR | 13.9 | 29.2 | 24.7 | 8.8 | -14.1% |
| Canada | 0.2 | 2.8 | 2.8 | 6.8 | 224.0% |
| Philippines | 1.8 | 5.0 | 11.1 | 5.7 | 46.8% |
| Netherlands | 11.6 | 10.9 | 8.0 | 4.8 | -25.5% |
| Japan | N/A | 4.8 | 7.3 | 4.7 | -1.0% |
| Germany | 2.2 | 0.6 | 0.9 | 3.0 | 10.9% |
| South Africa | 0.7 | 1.9 | 2.8 | 2.8 | 58.7% |
| China | 0.6 | 3.4 | 1.6 | 2.2 | 54.2% |
| Spain | 5.2 | 2.1 | 2.7 | 1.8 | -29.8% |
| Ghana | 0.9 | 0.8 | 0.8 | 1.3 | 13.0% |
| Senegal | N/A | 0.1 | 1.6 | 1.0 | 216.2% |
| Others | 14.0 | 12.1 | 15.5 | 44.4 | 46.9% |
| Total | 84.8 | 97.8 | 125 | 126 | 14.1% |
Top Export Markets for Frozen Boneless Cuts of Bovine Meat from the UK in 2022:
- Ireland (7.0K tons)
- Hong Kong SAR (3.2K tons)
- France (2.7K tons)
- South Africa (2.0K tons)
- Philippines (1.4K tons)
- Netherlands (1.2K tons)
- China (1.2K tons)
- Canada (1.0K tons)
- Ghana (0.8K tons)
- Germany (0.8K tons)
- Senegal (0.7K tons)
- Japan (0.6K tons)
- Spain (0.6K tons)
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