Price for Meat of Bovine Animals; Fresh or Chilled in the Philippines - 2023
Contents:
- Price for Meat of Bovine Animals; Fresh or Chilled in the Philippines (CIF) - 2022
- Imports of Meat of Bovine Animals; Fresh or Chilled in the Philippines
Price for Meat of Bovine Animals; Fresh or Chilled in the Philippines (CIF) - 2022
In 2022, the average import price for meat of bovine animals; fresh or chilled amounted to $10,916 per ton, increasing by 24% against the previous year. Overall, the import price posted a buoyant increase. The pace of growth was the most pronounced in 2016 when the average import price increased by 73% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in the immediate term.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($40,742 per ton), while the price for the United States ($7,887 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+10.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Imports of Meat of Bovine Animals; Fresh or Chilled in the Philippines
In 2022, supplies from abroad of meat of bovine animals; fresh or chilled decreased by -81.9% to 106 tons, falling for the second year in a row after two years of growth. In general, imports showed a sharp slump. The most prominent rate of growth was recorded in 2020 with an increase of 31% against the previous year. As a result, imports reached the peak of 629 tons. From 2021 to 2022, the growth of imports of remained at a lower figure.
In value terms, imports of meat of bovine animals; fresh or chilled fell rapidly to $1.2M in 2022. Over the period under review, imports saw a sharp shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of 50%.
| Import of Meat of Bovine Animals; Fresh or Chilled in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Australia | 1,048 | 2,813 | 4,086 | 1,009 | -1.3% |
| Japan | 7.1 | 18.2 | 71.0 | 133 | 165.6% |
| United States | 139 | 151 | 76.7 | 19.1 | -48.4% |
| Ireland | 119 | 51.9 | 277 | N/A | 52.6% |
| United Kingdom | 845 | 1,299 | 360 | N/A | -34.7% |
| Others | 911 | 263 | 302 | N/A | -42.4% |
| Total | 3,069 | 4,596 | 5,173 | 1,162 | -27.7% |
Top Suppliers of Meat of Bovine Animals; Fresh or Chilled to the Philippines in 2022:
- Australia (100.7 tons)
- Japan (3.3 tons)
- United States (2.4 tons)
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