Price for Meat of Bovine Animals; Frozen in Singapore - 2022
Contents:
- Price for Meat of Bovine Animals; Frozen in Singapore (CIF) - 2022
- Price for Meat of Bovine Animals; Frozen in Singapore (FOB) - 2022
- Imports of Meat of Bovine Animals; Frozen in Singapore
- Exports of Meat of Bovine Animals; Frozen in Singapore
Price for Meat of Bovine Animals; Frozen in Singapore (CIF) - 2022
In September 2022, the average import price for meat of bovine animals; frozen amounted to $8,624 per ton, shrinking by -5.4% against the previous month. Over the last eight months, it increased at an average monthly rate of +2.7%. The pace of growth was the most pronounced in February 2022 when the average import price increased by 12% month-to-month. The import price peaked at $9,193 per ton in July 2022; however, from August 2022 to September 2022, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In September 2022, the country with the highest price was the United States ($21,546 per ton), while the price for Paraguay ($2,700 per ton) was amongst the lowest.
From January 2022 to September 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+5.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Meat of Bovine Animals; Frozen in Singapore (FOB) - 2022
In September 2022, the average export price for meat of bovine animals; frozen amounted to $5,279 per ton, rising by 61% against the previous month. In general, the export price, however, showed a slight contraction. Over the period under review, the average export prices reached the maximum at $6,095 per ton in January 2022; however, from February 2022 to September 2022, the export prices failed to regain momentum.
Prices varied noticeably by the country of destination: the country with the highest price was Brazil ($7,062 per ton), while the average price for exports to Thailand ($1,403 per ton) was amongst the lowest.
From January 2022 to September 2022, the most notable rate of growth in terms of prices was recorded for supplies to Brazil (+2.6%), while the prices for the other major destinations experienced a decline.
Imports of Meat of Bovine Animals; Frozen in Singapore
In 2022, purchases abroad of meat of bovine animals; frozen decreased by -6.4% to 31K tons for the first time since 2018, thus ending a three-year rising trend. The total import volume increased at an average annual rate of +4.6% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 14%. As a result, imports attained the peak of 33K tons, and then fell in the following year.
In value terms, meat of bovine animals; frozen imports contracted to $156M in 2022. Over the period under review, total imports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +10.5% 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 +35.0% against 2019 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 34% against the previous year. As a result, imports reached the peak of $178M, and then declined in the following year.
Import of Meat of Bovine Animals; Frozen in Singapore (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Brazil | 73.6 | 81.3 | 111 | 97.6 | 9.9% |
United States | 19.8 | 21.6 | 28.3 | 24.9 | 7.9% |
Australia | 9.8 | 15.6 | 16.5 | 14.6 | 14.2% |
New Zealand | 4.3 | 4.5 | 6.1 | 5.3 | 7.2% |
India | 0.2 | 0.2 | 2.4 | 2.1 | 119.0% |
Argentina | 2.8 | 1.0 | 0.8 | 1.3 | -22.6% |
Others | 4.8 | 8.8 | 13.4 | 9.9 | 27.3% |
Total | 115 | 133 | 178 | 156 | 10.7% |
Top Suppliers of Meat of Bovine Animals; Frozen to Singapore in 2022:
- Brazil (22.3K tons)
- United States (2.9K tons)
- Australia (2.7K tons)
- New Zealand (0.9K tons)
- Argentina (0.8K tons)
- India (0.7K tons)
Exports of Meat of Bovine Animals; Frozen in Singapore
In 2022, approx. 8K tons of meat of bovine animals; frozen were exported from Singapore; increasing by 3.2% against 2021 figures. Over the period under review, exports, however, recorded a relatively flat trend pattern.
In value terms, meat of bovine animals; frozen exports reduced to $29M in 2022. Overall, total exports indicated resilient growth from 2019 to 2022: its value increased at an average annual rate of +10.4% 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 +34.6% against 2019 indices. The pace of growth appeared the most rapid in 2021 with an increase of 35% against the previous year. As a result, the exports attained the peak of $33M, and then declined in the following year.
Export of Meat of Bovine Animals; Frozen in Singapore (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Indonesia | 11.6 | 11.7 | 15.5 | 12.1 | 1.4% |
Australia | N/A | 3.2 | 7.8 | 6.1 | 38.1% |
Malaysia | 7.9 | 7.1 | 1.5 | 4.2 | -19.0% |
Brazil | 0.2 | 0.7 | 5.1 | 3.9 | 169.2% |
Others | 1.9 | 2.0 | 3.6 | 2.8 | 13.8% |
Total | 21.6 | 24.7 | 33.5 | 29.1 | 10.4% |
Top Export Markets for Meat of Bovine Animals; Frozen from Singapore in 2022:
- Indonesia (3.2K tons)
- Malaysia (2.5K tons)
- Australia (1.1K tons)
- Brazil (0.9K tons)
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