Price for Frozen Boneless Cuts of Bovine Meat in Vietnam - 2022
Contents:
- Price for Frozen Boneless Cuts of Bovine Meat in Vietnam (CIF) - 2022
- Price for Frozen Boneless Cuts of Bovine Meat in Vietnam (FOB) - 2022
- Imports of Frozen Boneless Cuts of Bovine Meat in Vietnam
- Exports of Frozen Boneless Cuts of Bovine Meat in Vietnam
Price for Frozen Boneless Cuts of Bovine Meat in Vietnam (CIF) - 2022
In 2022, the average import price for frozen boneless cuts of bovine meat amounted to $7,040 per ton, increasing by 27% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.7%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from India ($7,040 per ton) and the United States ($7,040 per ton), while the price for Canada ($7,040 per ton) and Australia ($7,040 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+4.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Frozen Boneless Cuts of Bovine Meat in Vietnam (FOB) - 2022
The average export price for frozen boneless cuts of bovine meat stood at $5,535 per ton in 2022, picking up by 12% against the previous year. Over the last decade, it increased at an average annual rate of +2.1%. The pace of growth was the most pronounced in 2018 when the average export price increased by 22% against the previous year. The export price peaked in 2022 and is likely to see steady growth in the immediate term.
Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were Lao People's Democratic Republic ($5,535 per ton) and India ($5,535 per ton), while the average price for exports to Cambodia ($5,535 per ton) and Thailand ($5,535 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+12.0%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Frozen Boneless Cuts of Bovine Meat in Vietnam
Imports of frozen boneless cuts of bovine meat into Vietnam rose significantly to 106K tons in 2022, with an increase of 14% compared with the previous year's figure. Overall, total imports indicated prominent growth from 2019 to 2022: its volume increased at an average annual rate of +17.2% 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 +61.1% against 2019 indices. The growth pace was the most rapid in 2020 with an increase of 25% against the previous year. Over the period under review, imports of reached the maximum in 2022 and are likely to see gradual growth in the immediate term.
In value terms, imports of frozen boneless cuts of bovine meat soared to $748M in 2022. In general, imports posted a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Frozen Boneless Cuts of Bovine Meat in Vietnam (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 172 | 273 | 309 | 473 | 40.1% |
| Canada | 6.0 | 27.1 | 64.1 | 99.5 | 155.0% |
| Australia | 61.9 | 55.6 | 77.3 | 76.3 | 7.2% |
| United States | 65.4 | 49.5 | 38.5 | 69.2 | 1.9% |
| Others | 11.7 | 13.1 | 25.5 | 29.9 | 36.7% |
| Total | 317 | 419 | 514 | 748 | 33.1% |
Top Suppliers of Frozen Boneless Cuts of Bovine Meat to Vietnam in 2022:
- India (67.2K tons)
- Canada (14.1K tons)
- Australia (10.8K tons)
- United States (9.8K tons)
Exports of Frozen Boneless Cuts of Bovine Meat in Vietnam
In 2022, overseas shipments of frozen boneless cuts of bovine meat were finally on the rise to reach 290 tons for the first time since 2019, thus ending a two-year declining trend. In general, exports, however, recorded a deep setback.
In value terms, exports of frozen boneless cuts of bovine meat surged to $1.6M in 2022. Overall, exports, however, showed a perceptible decline.
| Export of Frozen Boneless Cuts of Bovine Meat in Vietnam (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Cambodia | 386 | 501 | 523 | 733 | 23.8% |
| Lao People's Democratic Republic | N/A | 82.0 | N/A | 486 | 143.5% |
| Thailand | N/A | N/A | 218 | 278 | 27.5% |
| India | N/A | 1.9 | 0.7 | 100 | 625.5% |
| Hong Kong SAR | N/A | 308 | N/A | N/A | 0% |
| China | 1,143 | 55.1 | 53.2 | N/A | -78.4% |
| Japan | 306 | 1.0 | N/A | N/A | -99.7% |
| Others | 1.7 | N/A | 5.9 | 9.5 | 77.5% |
| Total | 1,836 | 949 | 801 | 1,607 | -4.3% |
Top Export Markets for Frozen Boneless Cuts of Bovine Meat from Vietnam in 2022:
- Cambodia (132.5 tons)
- Lao People's Democratic Republic (87.7 tons)
- Thailand (50.3 tons)
- India (18.1 tons)
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