Price for Meat of Bovine Animals; Frozen in Canada - 2023
Contents:
- Price for Meat of Bovine Animals; Frozen in Canada (FOB) - 2023
- Price for Meat of Bovine Animals; Frozen in Canada (CIF) - 2023
- Exports of Meat of Bovine Animals; Frozen in Canada
- Imports of Meat of Bovine Animals; Frozen in Canada
Price for Meat of Bovine Animals; Frozen in Canada (FOB) - 2023
In June 2023, the average export price for meat of bovine animals; frozen amounted to $5,954 per ton, growing by 2% against the previous month. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in April 2023 an increase of 7.3% month-to-month. Over the period under review, the average export prices attained the peak figure at $6,202 per ton in June 2022; however, from July 2022 to June 2023, the export prices remained at a lower figure.
There were significant differences in the average prices for the major external markets. In June 2023, the country with the highest price was Hong Kong SAR ($9,238 per ton), while the average price for exports to Panama ($2,149 per ton) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+0.7%), while the prices for the other major destinations experienced mixed trend patterns.
Price for Meat of Bovine Animals; Frozen in Canada (CIF) - 2023
In June 2023, the average import price for meat of bovine animals; frozen amounted to $5,701 per ton, increasing by 6.7% against the previous month. In general, the import price, however, showed a relatively flat trend pattern. Over the period under review, average import prices reached the peak figure at $6,735 per ton in July 2022; however, from August 2022 to June 2023, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In June 2023, the country with the highest price was the UK ($8,008 per ton), while the price for Uruguay ($4,347 per ton) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by the UK (+2.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Meat of Bovine Animals; Frozen in Canada
In 2022, after three years of growth, there was significant decline in overseas shipments of meat of bovine animals; frozen, when their volume decreased by -10.3% to 96K tons. The total export volume increased at an average annual rate of +7.1% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 31% against the previous year. As a result, the exports reached the peak of 107K tons, and then declined in the following year.
In value terms, meat of bovine animals; frozen exports fell to $600M in 2022. In general, total exports indicated resilient growth from 2019 to 2022: its value increased at an average annual rate of +13.2% 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 +50.0% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 55% against the previous year. As a result, the exports reached the peak of $622M, and then dropped slightly in the following year.
| Export of Meat of Bovine Animals; Frozen in Canada (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 75.3 | 75.3 | 154 | 142 | 23.5% |
| Japan | 117 | 107 | 143 | 131 | 3.8% |
| United States | 52.5 | 54.7 | 114 | 105 | 26.0% |
| South Korea | 26.6 | 28.2 | 83.0 | 76.5 | 42.2% |
| Hong Kong SAR | 112 | 75.6 | 51.0 | 72.1 | -13.7% |
| Vietnam | 6.1 | 30.3 | 54.5 | 50.2 | 101.9% |
| Taiwan (Chinese) | 14.2 | 11.5 | 8.2 | 10.2 | -10.4% |
| Others | 9.0 | 17.0 | 14.1 | 12.8 | 12.5% |
| Total | 413 | 400 | 622 | 600 | 13.3% |
Top Export Markets for Meat of Bovine Animals; Frozen from Canada in 2022:
- Japan (27.3K tons)
- United States (19.6K tons)
- China (17.0K tons)
- South Korea (10.0K tons)
- Hong Kong SAR (10.0K tons)
- Vietnam (8.3K tons)
- Taiwan (Chinese) (1.4K tons)
Imports of Meat of Bovine Animals; Frozen in Canada
In 2022, meat of bovine animals; frozen imports into Canada reached 50K tons, increasing by 3.1% against 2021 figures. In general, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 43% against the previous year. As a result, imports attained the peak of 69K tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
In value terms, meat of bovine animals; frozen imports surged to $303M in 2022. Overall, total imports indicated a prominent expansion from 2019 to 2022: its value increased at an average annual rate of +12.0% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -8.0% against 2020 indices. The pace of growth appeared the most rapid in 2020 with an increase of 53%. As a result, imports attained the peak of $330M. From 2021 to 2022, the growth of imports failed to regain momentum.
| Import of Meat of Bovine Animals; Frozen in Canada (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| New Zealand | 57.0 | 84.2 | 59.0 | 70.3 | 7.2% |
| Australia | 67.4 | 51.3 | 23.9 | 50.1 | -9.4% |
| Uruguay | 32.6 | 68.7 | 39.3 | 49.4 | 14.9% |
| United States | 26.3 | 30.1 | 38.9 | 41.6 | 16.5% |
| Spain | 2.0 | 16.9 | 19.0 | 20.3 | 116.5% |
| Ireland | 3.9 | 12.6 | 15.9 | 17.0 | 63.4% |
| United Kingdom | 10.0 | 21.7 | 10.2 | 14.7 | 13.7% |
| Chile | 5.3 | 6.2 | 3.9 | 5.4 | 0.6% |
| Others | 11.6 | 38.1 | 37.3 | 34.6 | 43.9% |
| Total | 216 | 330 | 247 | 303 | 11.9% |
Top Suppliers of Meat of Bovine Animals; Frozen to Canada in 2022:
- New Zealand (12.0K tons)
- Uruguay (9.1K tons)
- Australia (8.8K tons)
- United States (5.4K tons)
- Spain (3.1K tons)
- United Kingdom (2.6K tons)
- Ireland (2.4K tons)
- Chile (1.0K tons)
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