Price for Meat of Bovine Animals; Frozen in Mexico - 2023
Contents:
- Price for Meat of Bovine Animals; Frozen in Mexico (FOB) - 2023
- Price for Meat of Bovine Animals; Frozen in Mexico (CIF) - 2023
- Exports of Meat of Bovine Animals; Frozen in Mexico
- Imports of Meat of Bovine Animals; Frozen in Mexico
Price for Meat of Bovine Animals; Frozen in Mexico (FOB) - 2023
In June 2023, the average export price for meat of bovine animals; frozen amounted to $9,461 per ton, surging by 76% against the previous month. In general, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in March 2023 when the average export price increased by 478% against the previous month. As a result, the export price attained the peak level of $51,511 per ton. From April 2023 to June 2023, the the average export prices remained at a somewhat lower figure.
Average prices varied noticeably for the major foreign markets. In June 2023, the country with the highest price was Japan ($5,052 per ton), while the average price for exports to South Korea amounted to $4,311 per ton.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United States (-0.4%), while the prices for the other major destinations experienced a decline.
Price for Meat of Bovine Animals; Frozen in Mexico (CIF) - 2023
In June 2023, the average import price for meat of bovine animals; frozen amounted to $111K per ton, surging by 213% against the previous month. Over the period under review, the import price saw a significant expansion. As a result, import price reached the peak level and is likely to continue growth in the immediate term.
As there is only one major supplying country, the average price level is determined by prices for Canada.
From June 2022 to June 2023, the rate of growth in terms of prices for the United States amounted to +1.5% per month.
Exports of Meat of Bovine Animals; Frozen in Mexico
After two years of decline, overseas shipments of meat of bovine animals; frozen increased by 77% to 36K tons in 2022. Overall, total exports indicated a moderate expansion from 2019 to 2022: its volume increased at an average annual rate of +3.8% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, meat of bovine animals; frozen exports skyrocketed to $335M in 2022. Over the period under review, total exports indicated a buoyant increase from 2019 to 2022: its value increased at an average annual rate of +19.7% 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 +71.6% against 2019 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Meat of Bovine Animals; Frozen in Mexico (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 82.9 | 112 | 94.5 | 137 | 18.2% |
| Japan | 43.0 | 42.2 | 70.7 | 103 | 33.8% |
| Hong Kong SAR | 35.6 | 29.7 | 31.4 | 45.6 | 8.6% |
| South Korea | 30.7 | 29.7 | 29.3 | 42.6 | 11.5% |
| Canada | 2.3 | 6.8 | 4.8 | 7.0 | 44.9% |
| Others | 0.8 | N/A | N/A | N/A | 0% |
| Total | 195 | 220 | 231 | 335 | 19.8% |
Top Export Markets for Meat of Bovine Animals; Frozen from Mexico in 2022:
- United States (14.2K tons)
- Japan (13.4K tons)
- South Korea (6.3K tons)
- Hong Kong SAR (1.6K tons)
- Canada (0.7K tons)
Imports of Meat of Bovine Animals; Frozen in Mexico
In 2022, approx. 4.3K tons of meat of bovine animals; frozen were imported into Mexico; declining by -14.2% against the previous year. Over the period under review, imports recorded a mild reduction. The pace of growth appeared the most rapid in 2021 when imports increased by 57% against the previous year. As a result, imports attained the peak of 5K tons, and then shrank in the following year.
In value terms, meat of bovine animals; frozen imports contracted slightly to $71M in 2022. Overall, imports, however, recorded a resilient expansion. The growth pace was the most rapid in 2021 with an increase of 90%. As a result, imports reached the peak of $73M, and then declined modestly in the following year.
| Import of Meat of Bovine Animals; Frozen in Mexico (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 33.9 | 36.0 | 67.7 | 67.5 | 25.8% |
| Canada | 2.8 | 2.1 | 3.8 | 3.8 | 10.7% |
| Australia | 11.8 | N/A | 1.1 | N/A | -69.5% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 48.4 | 38.1 | 72.5 | 71.3 | 13.8% |
Top Suppliers of Meat of Bovine Animals; Frozen to Mexico in 2022:
- United States (4.1K tons)
- Canada (0.2K tons)
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