Price for Frozen Boneless Cuts of Bovine Meat in India - 2023

Contents:

1. Price for Frozen Boneless Cuts of Bovine Meat in India (FOB) - 2023
2. Price for Frozen Boneless Cuts of Bovine Meat in India (CIF) - 2022
3. Exports of Frozen Boneless Cuts of Bovine Meat in India
4. Imports of Frozen Boneless Cuts of Bovine Meat in India

Price for Frozen Boneless Cuts of Bovine Meat in India (FOB) - 2023

In November 2023, the average export price for frozen boneless cuts of bovine meat amounted to $2,880 per ton, dropping by -1.5% against the previous month. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in March 2023 an increase of 9.5% against the previous month. Over the period under review, the average export prices hit record highs at $2,993 per ton in June 2023; however, from July 2023 to November 2023, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In November 2023, the country with the highest price was Russia ($3,451 per ton), while the average price for exports to Iraq ($2,202 per ton) was amongst the lowest.

From November 2022 to November 2023, the most notable rate of growth in terms of prices was recorded for supplies to Jordan (+1.2%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Frozen Boneless Cuts of Bovine Meat in India (CIF) - 2022

The average import price for frozen boneless cuts of bovine meat stood at $2,917 per ton in 2022, with a decrease of -8.9% against the previous year. Overall, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 11%. The import price peaked at $3,385 per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Lebanon ($4,792 per ton), while the price for Bahrain ($1,241 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lebanon (+22.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports of Frozen Boneless Cuts of Bovine Meat in India

In 2022, approx. 1M tons of frozen boneless cuts of bovine meat were exported from India; growing by 2.5% compared with 2021 figures. In general, exports, however, saw a mild curtailment. The most prominent rate of growth was recorded in 2021 when exports increased by 8.2% against the previous year.

In value terms, exports of frozen boneless cuts of bovine meat reduced slightly to $2.9B in 2022. Over the period under review, exports, however, recorded a noticeable slump. The pace of growth was the most pronounced in 2021 with an increase of 6.3% against the previous year.

Top Export Markets for Frozen Boneless Cuts of Bovine Meat from India in 2022:

1. Egypt (174.2K tons)
2. Malaysia (173.4K tons)
3. Vietnam (141.4K tons)
4. Indonesia (113.8K tons)
5. Iraq (92.6K tons)
6. Saudi Arabia (55.9K tons)
7. Philippines (48.9K tons)
8. United Arab Emirates (48.7K tons)
9. Hong Kong SAR (3.7K tons)

Imports of Frozen Boneless Cuts of Bovine Meat in India

In 2022, overseas purchases of frozen boneless cuts of bovine meat were finally on the rise to reach 582 tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports, however, showed a abrupt downturn.

In value terms, imports of frozen boneless cuts of bovine meat skyrocketed to $1.7M in 2022. In general, imports, however, saw a perceptible decline.

Top Suppliers of Frozen Boneless Cuts of Bovine Meat to India in 2022:

1. Oman (166.8 tons)
2. Bahrain (114.0 tons)
3. United Arab Emirates (100.2 tons)
4. Jordan (72.3 tons)
5. Brazil (46.7 tons)
6. Lebanon (46.5 tons)
7. Vietnam (21.2 tons)

Source: IndexBox Market Intelligence Platform