Price for Fresh or Chilled Carcasses and Half-Carcasses of Bovine Meat in Singapore - 2022

Contents:

1. Price for Fresh or Chilled Carcasses and Half-Carcasses of Bovine Meat in Singapore (CIF) - 2022
2. Price for Fresh or Chilled Carcasses and Half-Carcasses of Bovine Meat in Singapore (FOB) - 2022
3. Imports of Fresh or Chilled Carcasses and Half-Carcasses of Bovine Meat in Singapore
4. Exports of Fresh or Chilled Carcasses and Half-Carcasses of Bovine Meat in Singapore

Price for Fresh or Chilled Carcasses and Half-Carcasses of Bovine Meat in Singapore (CIF) - 2022

In 2022, the average import price for fresh or chilled carcasses and half-carcasses of bovine meat amounted to $6,740 per ton, stabilizing at the previous year. Over the period under review, the import price, however, saw a noticeable descent. The pace of growth was the most pronounced in 2016 an increase of 118% against the previous year. As a result, import price reached the peak level of $26,352 per ton. From 2017 to 2022, the average import prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Australia ($8,698 per ton), while the price for the United States totaled $5,957 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+0.7%), while the prices for the other major suppliers experienced a decline.

Price for Fresh or Chilled Carcasses and Half-Carcasses of Bovine Meat in Singapore (FOB) - 2022

In 2021, the average export price for fresh or chilled carcasses and half-carcasses of bovine meat amounted to $4,274 per ton, increasing by 8.6% against the previous year. Overall, the export price, however, recorded a abrupt decline. The most prominent rate of growth was recorded in 2018 when the average export price increased by 201% against the previous year. The export price peaked at $13,333 per ton in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Thailand.

From 2014 to 2021, the rate of growth in terms of prices for China amounted to +44.1% per year.

Imports of Fresh or Chilled Carcasses and Half-Carcasses of Bovine Meat in Singapore

In 2022, purchases abroad of fresh or chilled carcasses and half-carcasses of bovine meat increased by 324% to 3 tons for the first time since 2019, thus ending a two-year declining trend. In general, imports, however, continue to indicate a precipitous contraction.

In value terms, imports of fresh or chilled carcasses and half-carcasses of bovine meat soared to $20K in 2022. Over the period under review, imports, however, continue to indicate a precipitous decrease.

Top Suppliers of Fresh or Chilled Carcasses and Half-Carcasses of Bovine Meat to Singapore in 2022:

1. United States (2.1 tons)
2. Australia (0.8 tons)

Exports of Fresh or Chilled Carcasses and Half-Carcasses of Bovine Meat in Singapore

Exports of fresh or chilled carcasses and half-carcasses of bovine meat from Singapore soared to 2.4 tons in 2021, growing by 24% compared with the year before. The total export volume increased at an average annual rate of +24.4% from 2020 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, exports of fresh or chilled carcasses and half-carcasses of bovine meat soared to $10K in 2021. The total export value increased at an average annual rate of +35.1% from 2020 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Top Export Markets for Fresh or Chilled Carcasses and Half-Carcasses of Bovine Meat from Singapore in 2022:

1. Thailand (2.4 tons)

Source: IndexBox Market Intelligence Platform