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

Contents:

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

Price for Frozen Boneless Cuts of Bovine Meat in Morocco (CIF) - 2023

In June 2023, the average import price for frozen boneless cuts of bovine meat amounted to $7,371 per ton, falling by -2.1% against the previous month. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in April 2023 when the average import price increased by 10% against the previous month. Over the period under review, average import prices hit record highs at $7,554 per ton in January 2023; however, from February 2023 to June 2023, import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for Spain.

From June 2022 to June 2023, the rate of growth in terms of prices for Spain amounted to +0.3% per month.

Price for Frozen Boneless Cuts of Bovine Meat in Morocco (FOB) - 2022

In 2022, the average export price for frozen boneless cuts of bovine meat amounted to $7,760 per ton, remaining constant against the previous year. In general, the export price, however, saw a deep downturn. The growth pace was the most rapid in 2018 an increase of 45% against the previous year. Over the period under review, the average export prices hit record highs at $14,819 per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Spain ($21,026 per ton), while the average price for exports to Belgium ($13,360 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+27.1%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Frozen Boneless Cuts of Bovine Meat in Morocco

Imports of frozen boneless cuts of bovine meat into Morocco soared to 2.8K tons in 2022, growing by 23% against 2021 figures. Over the period under review, imports, however, saw a perceptible shrinkage.

In value terms, imports of frozen boneless cuts of bovine meat surged to $19M in 2022. Overall, total imports indicated buoyant growth from 2019 to 2022: its value increased at an average annual rate of +9.5% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +92.3% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

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

1. Spain (2700.6 tons)
2. Brazil (110.1 tons)

Exports of Frozen Boneless Cuts of Bovine Meat in Morocco

After two years of decline, shipments abroad of frozen boneless cuts of bovine meat increased by 890% to 36 tons in 2022. In general, exports, however, showed a mild decline.

In value terms, exports of frozen boneless cuts of bovine meat soared to $276K in 2022. Overall, exports continue to indicate strong growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

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

1. Liberia (0.1 tons)
2. Mauritania (0.1 tons)
3. Gambia (0.1 tons)
4. Bahamas (0.1 tons)
5. Russia (0.1 tons)

Source: IndexBox Market Intelligence Platform