Price for Meat of Bovine Animals; Frozen in the UK - 2023
Contents:
- Price for Meat of Bovine Animals; Frozen in the UK (CIF) - 2023
- Price for Meat of Bovine Animals; Frozen in the UK (FOB) - 2023
- Imports of Meat of Bovine Animals; Frozen in the UK
- Exports of Meat of Bovine Animals; Frozen in the UK
Price for Meat of Bovine Animals; Frozen in the UK (CIF) - 2023
In June 2023, the average import price for meat of bovine animals; frozen amounted to $5,747 per ton, jumping by 52% against the previous month. In general, the import price saw a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.
There were significant differences in the average prices amongst the major supplying countries. In June 2023, the country with the highest price was Ireland ($6,145 per ton), while the price for Belgium ($3,969 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 Austria (+2.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Meat of Bovine Animals; Frozen in the UK (FOB) - 2023
In June 2023, the average export price for meat of bovine animals; frozen amounted to $4,499 per ton, rising by 21% against the previous month. Over the period under review, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in January 2023 when the average export price increased by 22% m-o-m. The export price peaked in June 2023.
There were significant differences in the average prices for the major external markets. In June 2023, the country with the highest price was Japan ($10,015 per ton), while the average price for exports to Cote d'Ivoire ($1,000 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 Poland (+8.4%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Meat of Bovine Animals; Frozen in the UK
In 2022, approx. 87K tons of meat of bovine animals; frozen were imported into the UK; picking up by 7.2% on 2021 figures. The total import volume increased at an average annual rate of +4.2% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, meat of bovine animals; frozen imports soared to $467M in 2022. Over the period under review, total imports indicated strong growth from 2019 to 2022: its value increased at an average annual rate of +18.1% 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 increased by +64.7% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Meat of Bovine Animals; Frozen in the UK (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Ireland | 201 | 221 | 261 | 336 | 18.7% |
| Germany | 10.2 | 13.1 | 19.1 | 24.5 | 33.9% |
| Poland | 15.7 | 22.1 | 18.1 | 23.6 | 14.6% |
| Netherlands | 15.7 | 17.3 | 17.7 | 22.8 | 13.2% |
| Belgium | 7.4 | 7.2 | 8.9 | 11.4 | 15.5% |
| Italy | 2.7 | 4.0 | 6.9 | 8.9 | 48.8% |
| Brazil | 9.8 | 4.2 | 5.9 | 8.4 | -5.0% |
| Spain | 5.1 | 5.1 | 4.5 | 6.2 | 6.7% |
| Others | 15.2 | 11.1 | 18.7 | 24.5 | 17.2% |
| Total | 283 | 305 | 361 | 467 | 18.2% |
Top Suppliers of Meat of Bovine Animals; Frozen to the UK in 2022:
- Ireland (59.0K tons)
- Netherlands (7.0K tons)
- Poland (5.3K tons)
- Germany (4.7K tons)
- Italy (1.9K tons)
- Belgium (1.9K tons)
- Spain (1.8K tons)
- Brazil (1.4K tons)
Exports of Meat of Bovine Animals; Frozen in the UK
In 2022, overseas shipments of meat of bovine animals; frozen decreased by -4.1% to 39K tons, falling for the second consecutive year after two years of growth. The total export volume increased at an average annual rate of +3.0% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 when exports increased by 14% against the previous year. As a result, the exports reached the peak of 41K tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
In value terms, meat of bovine animals; frozen exports rose rapidly to $159M in 2022. In general, total exports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +14.8% 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 +51.1% against 2019 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 19%. The exports peaked in 2022 and are expected to retain growth in years to come.
| Export of Meat of Bovine Animals; Frozen in the UK (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Ireland | 27.6 | 30.5 | 35.2 | 41.1 | 14.2% |
| Hong Kong SAR | 21.4 | 32.4 | 28.7 | 33.4 | 16.0% |
| Philippines | 2.5 | 5.2 | 13.4 | 15.6 | 84.1% |
| France | 12.5 | 7.6 | 13.3 | 15.5 | 7.4% |
| Netherlands | 11.8 | 11.4 | 8.1 | 11.9 | 0.3% |
| United States | 0.5 | 0.4 | 5.3 | 6.2 | 131.5% |
| China | 6.3 | 4.3 | 2.0 | 4.8 | -8.7% |
| Spain | 5.3 | 2.3 | 2.7 | 3.9 | -9.7% |
| South Africa | 0.9 | 2.2 | 3.2 | 3.7 | 60.2% |
| Sweden | 3.1 | 3.5 | 2.9 | 3.6 | 5.1% |
| Denmark | 1.7 | 1.2 | 1.7 | 1.9 | 3.8% |
| Senegal | N/A | 0.1 | 1.6 | 1.8 | 324.3% |
| Ghana | 1.1 | 1.2 | 1.2 | 1.4 | 8.4% |
| Others | 10.5 | 16.6 | 21.8 | 13.8 | 9.5% |
| Total | 105 | 119 | 141 | 159 | 14.8% |
Top Export Markets for Meat of Bovine Animals; Frozen from the UK in 2022:
- Ireland (8.1K tons)
- Hong Kong SAR (7.1K tons)
- Philippines (4.3K tons)
- Netherlands (3.2K tons)
- France (3.2K tons)
- South Africa (2.4K tons)
- China (1.8K tons)
- Sweden (1.6K tons)
- Denmark (1.3K tons)
- Spain (0.9K tons)
- Ghana (0.8K tons)
- Senegal (0.8K tons)
- United States (0.7K tons)
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