Price for Meat of Bovine Animals; Fresh or Chilled in Japan - 2023

Contents:

1. Price for Meat of Bovine Animals; Fresh or Chilled in Japan (CIF) - 2023
2. Price for Meat of Bovine Animals; Fresh or Chilled in Japan (FOB) - 2023
3. Imports of Meat of Bovine Animals; Fresh or Chilled in Japan
4. Exports of Meat of Bovine Animals; Fresh or Chilled in Japan

Price for Meat of Bovine Animals; Fresh or Chilled in Japan (CIF) - 2023

The average import price for meat of bovine animals; fresh or chilled stood at $7,837 per ton in November 2023, remaining stable against the previous month. Overall, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in March 2023 when the average import price increased by 3.6% month-to-month. Over the period under review, average import prices reached the maximum at $8,184 per ton in July 2023; however, from August 2023 to November 2023, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In November 2023, the countries with the highest prices were New Zealand ($9,576 per ton) and the United States ($8,005 per ton), while the price for Australia ($7,469 per ton) and Canada ($7,909 per ton) were amongst the lowest.

From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by the United States (+0.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Meat of Bovine Animals; Fresh or Chilled in Japan (FOB) - 2023

In November 2023, the average export price for meat of bovine animals; fresh or chilled amounted to $46,800 per ton, growing by 1.7% against the previous month. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in January 2023 when the average export price increased by 12% month-to-month. As a result, the export price attained the peak level of $57,278 per ton. From February 2023 to November 2023, the the average export prices remained at a lower figure.

Prices varied noticeably by the country of destination: the country with the highest price was the UK ($71,417 per ton), while the average price for exports to Taiwan (Chinese) ($36,694 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 Belgium (+1.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Meat of Bovine Animals; Fresh or Chilled in Japan

In 2022, imports of meat of bovine animals; fresh or chilled into Japan dropped rapidly to 217K tons, with a decrease of -17.7% compared with 2021 figures. In general, imports showed a abrupt curtailment. The pace of growth was the most pronounced in 2021 when imports increased by 0.9% against the previous year.

In value terms, imports of meat of bovine animals; fresh or chilled fell rapidly to $1.8B in 2022. Overall, imports recorded a noticeable decrease. The growth pace was the most rapid in 2021 with an increase of 12%. As a result, imports attained the peak of $2.2B, and then fell sharply in the following year.

Top Suppliers of Meat of Bovine Animals; Fresh or Chilled to Japan in 2022:

1. United States (113.4K tons)
2. Australia (78.2K tons)
3. Canada (9.6K tons)
4. New Zealand (6.4K tons)
5. Mexico (6.1K tons)
6. Uruguay (3.6K tons)

Exports of Meat of Bovine Animals; Fresh or Chilled in Japan

For the fourth consecutive year, Japan recorded growth in overseas shipments of meat of bovine animals; fresh or chilled, which increased by 7.1% to 3.7K tons in 2022. Over the period under review, total exports indicated a significant expansion from 2019 to 2022: its volume increased at an average annual rate of +21.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +80.9% against 2019 indices. The pace of growth appeared the most rapid in 2021 when exports increased by 49%. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, exports of meat of bovine animals; fresh or chilled shrank to $206M in 2022. In general, exports continue to indicate prominent growth. The pace of growth was the most pronounced in 2021 with an increase of 71%. As a result, the exports attained the peak of $232M, and then reduced in the following year.

Top Export Markets for Meat of Bovine Animals; Fresh or Chilled from Japan in 2022:

1. Taiwan (Chinese) (1125.2 tons)
2. United States (787.4 tons)
3. Hong Kong SAR (535.6 tons)
4. Singapore (363.2 tons)
5. Malaysia (159.5 tons)
6. Netherlands (146.7 tons)
7. Belgium (104.5 tons)
8. United Kingdom (98.8 tons)
9. Australia (90.8 tons)
10. Canada (72.9 tons)

Source: IndexBox Market Intelligence Platform