China: Frozen Turkey Cut Market 2024

Frozen Turkey Cut Market Size in China

The Chinese frozen turkey cut market dropped slightly to $X in 2022, flattening at the previous year. The market value increased at an average annual rate of +1.7% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. Frozen turkey cut consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Frozen Turkey Cut Production in China

In value terms, frozen turkey cut production shrank slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.5% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 with an increase of 13% against the previous year. Frozen turkey cut production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Frozen Turkey Cut Exports

Exports from China

In 2022, after five years of growth, there was significant decline in overseas shipments of frozen cuts of turkey, when their volume decreased by -7.5% to X tons. Over the period under review, exports, however, saw a significant increase. The pace of growth was the most pronounced in 2019 with an increase of 298% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, frozen turkey cut exports shrank to $X in 2022. Overall, exports, however, saw significant growth. The most prominent rate of growth was recorded in 2019 with an increase of 332% against the previous year. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Rwanda (X tons) was the main destination for frozen turkey cut exports from China, accounting for a 76% share of total exports. Moreover, frozen turkey cut exports to Rwanda exceeded the volume sent to the second major destination, Guatemala (X tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Rwanda was relatively modest.

In value terms, Guatemala ($X) and Rwanda ($X) were the largest markets for frozen turkey cut exported from China worldwide.

Guatemala, with a CAGR of 0.0%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review.

Export Prices by Country

The average frozen turkey cut export price stood at $X per ton in 2022, therefore, remained relatively stable against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of 36% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Guatemala ($X per ton), while the average price for exports to Rwanda totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Niger (+41.8%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Turkey Cut Imports

Imports into China

In 2022, approx. X tons of frozen cuts of turkey were imported into China; increasing by 5.8% on the year before. Over the period under review, imports, however, showed a drastic downturn. The pace of growth appeared the most rapid in 2019 with an increase of 968% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, frozen turkey cut imports skyrocketed to $X in 2022. In general, imports, however, continue to indicate a pronounced downturn. The pace of growth appeared the most rapid in 2019 with an increase of 893%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Russia (X tons), Chile (X tons) and the United States (X tons) were the main suppliers of frozen turkey cut imports to China.

From 2012 to 2022, the biggest increases were recorded for Russia (with a CAGR of +171.4%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest frozen turkey cut suppliers to China were Russia ($X), Chile ($X) and the United States ($X).

In terms of the main suppliers, Russia, with a CAGR of +197.6%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average frozen turkey cut import price amounted to $X per ton, with an increase of 26% against the previous year. Over the period under review, import price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, frozen turkey cut import price increased by +66.9% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by 33% against the previous year. The import price peaked in 2022 and is likely to continue growth in the near future.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+9.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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