Price for Frozen Boneless Cuts of Bovine Meat in South Africa - 2023
Contents:
- Price for Frozen Boneless Cuts of Bovine Meat in South Africa (FOB) - 2023
- Price for Frozen Boneless Cuts of Bovine Meat in South Africa (CIF) - 2023
- Exports of Frozen Boneless Cuts of Bovine Meat in South Africa
- Imports of Frozen Boneless Cuts of Bovine Meat in South Africa
Price for Frozen Boneless Cuts of Bovine Meat in South Africa (FOB) - 2023
In December 2023, the average export price for frozen boneless cuts of bovine meat amounted to $5,179 per ton, rising by 23% against the previous month. In general, the export price continues to indicate a relatively flat trend pattern. The export price peaked at $5,458 per ton in September 2023; however, from October 2023 to December 2023, the export prices remained at a lower figure.
There were significant differences in the average prices for the major overseas markets. In December 2023, the country with the highest price was the United Arab Emirates ($6,847 per ton), while the average price for exports to Lesotho ($2,417 per ton) was amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+4.8%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Frozen Boneless Cuts of Bovine Meat in South Africa (CIF) - 2023
The average import price for frozen boneless cuts of bovine meat stood at $3,613 per ton in December 2023, picking up by 29% against the previous month. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in February 2023 an increase of 129% month-to-month. As a result, import price attained the peak level of $7,995 per ton. From March 2023 to December 2023, the average import prices remained at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In December 2023, the country with the highest price was Botswana ($6,281 per ton), while the price for Namibia totaled $3,328 per ton.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by Botswana (+4.1%), while the prices for the other major suppliers experienced mixed trend patterns.
Exports of Frozen Boneless Cuts of Bovine Meat in South Africa
In 2022, shipments abroad of frozen boneless cuts of bovine meat decreased by -30.5% to 8.3K tons, falling for the second year in a row after two years of growth. In general, exports saw a pronounced decrease. The most prominent rate of growth was recorded in 2020 when exports increased by 69% against the previous year. As a result, the exports attained the peak of 15K tons. From 2021 to 2022, the growth of the exports of remained at a lower figure.
In value terms, exports of frozen boneless cuts of bovine meat shrank sharply to $40M in 2022. Over the period under review, total exports indicated modest growth from 2019 to 2022: its value increased at an average annual rate of +1.3% 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 decreased by -34.1% against 2020 indices. The growth pace was the most rapid in 2020 with an increase of 58% against the previous year. As a result, the exports attained the peak of $60M. From 2021 to 2022, the growth of the exports of failed to regain momentum.
| Export of Frozen Boneless Cuts of Bovine Meat in South Africa (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 16.8 | 36.2 | 29.5 | 6.3 | -27.9% |
| United Arab Emirates | 1.9 | 2.7 | 2.5 | 5.2 | 39.9% |
| Egypt | 3.2 | 2.6 | 4.2 | 4.1 | 8.6% |
| Mozambique | 2.7 | 3.0 | 4.1 | 4.0 | 14.0% |
| Kuwait | 1.3 | 5.0 | 1.7 | 2.9 | 30.7% |
| Jordan | 1.7 | 1.8 | 4.2 | 2.6 | 15.2% |
| Lesotho | 2.0 | 1.5 | 2.3 | 2.1 | 1.6% |
| Ethiopia | 1.6 | 1.1 | 1.7 | 1.6 | 0.0% |
| Mauritius | 0.5 | 0.7 | 0.7 | 1.1 | 30.1% |
| Hong Kong SAR | 0.6 | 2.2 | 2.3 | 0.9 | 14.5% |
| United Kingdom | N/A | N/A | N/A | 0.8 | 0% |
| Netherlands | 0.4 | 0.1 | N/A | 0.7 | 20.5% |
| Canada | N/A | N/A | 0.1 | 0.4 | 300.0% |
| Others | 5.5 | 3.5 | 5.7 | 7.2 | 9.4% |
| Total | 38.3 | 60.4 | 58.9 | 39.8 | 1.3% |
Top Export Markets for Frozen Boneless Cuts of Bovine Meat from South Africa in 2022:
- China (1195.7 tons)
- Lesotho (1038.2 tons)
- United Arab Emirates (819.0 tons)
- Mozambique (690.5 tons)
- Kuwait (667.9 tons)
- Egypt (593.4 tons)
- United Kingdom (428.2 tons)
- Netherlands (419.6 tons)
- Jordan (314.3 tons)
- Hong Kong SAR (206.3 tons)
- Mauritius (198.0 tons)
- Ethiopia (184.0 tons)
- Canada (180.3 tons)
Imports of Frozen Boneless Cuts of Bovine Meat in South Africa
In 2022, imports of frozen boneless cuts of bovine meat into South Africa fell to 1.9K tons, shrinking by -11.3% compared with 2021. Overall, imports recorded a significant contraction. The most prominent rate of growth was recorded in 2021 when imports increased by 14% against the previous year.
In value terms, imports of frozen boneless cuts of bovine meat totaled $6.5M in 2022. Over the period under review, imports faced a sharp setback. The growth pace was the most rapid in 2021 with an increase of 15% against the previous year.
| Import of Frozen Boneless Cuts of Bovine Meat in South Africa (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Namibia | 7.9 | 1.2 | 2.0 | 3.7 | -22.3% |
| Brazil | 4.6 | 0.2 | N/A | 1.2 | -36.1% |
| Botswana | 12.3 | 3.0 | 0.6 | 1.2 | -54.0% |
| Uruguay | 0.6 | 0.2 | 1.7 | 0.2 | -30.7% |
| Argentina | 0.1 | 0.5 | N/A | N/A | 400.0% |
| United Kingdom | 0.3 | 0.1 | 0.6 | N/A | 41.4% |
| Australia | 0.2 | 0.3 | 0.9 | N/A | 112.1% |
| Others | 0.1 | 0.1 | 0.6 | N/A | 144.9% |
| Total | 26.0 | 5.6 | 6.5 | 6.5 | -37.0% |
Top Suppliers of Frozen Boneless Cuts of Bovine Meat to South Africa in 2022:
- Namibia (1053.2 tons)
- Brazil (441.8 tons)
- Botswana (362.0 tons)
- Uruguay (80.6 tons)
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