Price for Frozen Boneless Cuts of Bovine Meat in Brazil - 2024
Contents:
- Price for Frozen Boneless Cuts of Bovine Meat in Brazil (FOB) - 2024
- Price for Frozen Boneless Cuts of Bovine Meat in Brazil (CIF) - 2024
- Exports of Frozen Boneless Cuts of Bovine Meat in Brazil
- Imports of Frozen Boneless Cuts of Bovine Meat in Brazil
Price for Frozen Boneless Cuts of Bovine Meat in Brazil (FOB) - 2024
The average export price for frozen boneless cuts of bovine meat stood at $4,446 per ton in January 2024, therefore, remained relatively stable against the previous month. Over the period under review, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in May 2023 an increase of 7.1% month-to-month. As a result, the export price attained the peak level of $5,033 per ton. From June 2023 to January 2024, the the average export prices failed to regain momentum.
Average prices varied somewhat for the major external markets. In January 2024, the highest price was recorded for prices to Hong Kong SAR ($5,163 per ton) and the United States ($5,069 per ton), while the average price for exports to the Philippines ($3,493 per ton) and Russia ($3,521 per ton) were amongst the lowest.
From January 2023 to January 2024, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+0.8%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Frozen Boneless Cuts of Bovine Meat in Brazil (CIF) - 2024
The average import price for frozen boneless cuts of bovine meat stood at $9,336 per ton in January 2024, growing by 20% against the previous month. Over the last twelve-month period, it increased at an average monthly rate of +3.0%. The pace of growth was the most pronounced in October 2023 when the average import price increased by 30% against the previous month. Over the period under review, average import prices attained the maximum in January 2024.
Prices varied noticeably by the country of origin: the country with the highest price was Australia ($10,490 per ton), while the price for Paraguay ($5,818 per ton) was amongst the lowest.
From January 2023 to January 2024, the most notable rate of growth in terms of prices was attained by Paraguay (+2.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Frozen Boneless Cuts of Bovine Meat in Brazil
Exports of frozen boneless cuts of bovine meat from Brazil soared to 1.8M tons in 2022, growing by 31% compared with 2021. The total export volume increased at an average annual rate of +9.8% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, exports of frozen boneless cuts of bovine meat soared to $10.9B in 2022. Overall, exports saw a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Frozen Boneless Cuts of Bovine Meat in Brazil (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 2,565 | 4,021 | 3,902 | 7,951 | 45.8% |
| United States | 0.2 | 95.7 | 460 | 443 | 1203.5% |
| Egypt | 446 | 393 | 269 | 343 | -8.4% |
| Philippines | 99.3 | 133 | 192 | 269 | 39.4% |
| United Arab Emirates | 460 | 133 | 164 | 194 | -25.0% |
| Israel | 110 | 102 | 138 | 189 | 19.8% |
| Hong Kong SAR | 700 | 798 | 582 | 185 | -35.8% |
| Russia | 204 | 184 | 116 | 162 | -7.4% |
| Others | 1,145 | 905 | 1,252 | 1,182 | 1.1% |
| Total | 5,730 | 6,765 | 7,075 | 10,918 | 24.0% |
Top Export Markets for Frozen Boneless Cuts of Bovine Meat from Brazil in 2022:
- China (1238.0K tons)
- United States (88.3K tons)
- Egypt (85.3K tons)
- Philippines (60.4K tons)
- United Arab Emirates (44.5K tons)
- Russia (37.9K tons)
- Hong Kong SAR (34.6K tons)
- Israel (30.6K tons)
Imports of Frozen Boneless Cuts of Bovine Meat in Brazil
For the fourth consecutive year, Brazil recorded growth in overseas purchases of frozen boneless cuts of bovine meat, which increased by 16% to 24K tons in 2022. Over the period under review, total imports indicated a resilient expansion from 2019 to 2022: its volume increased at an average annual rate of +19.7% 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 +71.4% against 2019 indices. The pace of growth was the most pronounced in 2021 with an increase of 34%. Imports peaked in 2022 and are expected to retain growth in the immediate term.
In value terms, imports of frozen boneless cuts of bovine meat surged to $180M in 2022. In general, imports showed a significant expansion. The pace of growth appeared the most rapid in 2021 when imports increased by 43%. Imports peaked in 2022 and are likely to continue growth in years to come.
| Import of Frozen Boneless Cuts of Bovine Meat in Brazil (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Paraguay | 10.0 | 15.5 | 42.0 | 58.8 | 80.5% |
| Uruguay | 29.3 | 23.6 | 41.7 | 51.4 | 20.6% |
| Argentina | 48.7 | 46.1 | 46.5 | 51.0 | 1.6% |
| Australia | 9.9 | 9.9 | 6.1 | 16.4 | 18.3% |
| Others | 3.8 | 1.9 | 2.6 | 2.4 | -14.2% |
| Total | 102 | 97.0 | 139 | 180 | 20.8% |
Top Suppliers of Frozen Boneless Cuts of Bovine Meat to Brazil in 2022:
- Paraguay (12.2K tons)
- Uruguay (5.3K tons)
- Argentina (4.6K tons)
- Australia (1.4K tons)
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