Price for Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Kuwait - 2022
Contents:
- Price for Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Kuwait (CIF) - 2022
- Price for Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Kuwait (FOB) - 2022
- Imports of Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Kuwait
- Exports of Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Kuwait
Price for Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Kuwait (CIF) - 2022
The average import price for frozen bone-in cuts (excluding carcasses and half-carcasses) of bovine meat stood at $5,192 per ton in 2022, falling by -20% against the previous year. Over the period under review, import price indicated tangible growth from 2013 to 2022: its price increased at an average annual rate of +2.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for frozen bone-in cuts (excluding carcasses and half-carcasses) of bovine meat decreased by -25.1% against 2019 indices. The pace of growth was the most pronounced in 2019 when the average import price increased by 44% against the previous year. As a result, import price reached the peak level of $6,928 per ton. From 2020 to 2022, the average import prices failed to regain momentum.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from South Africa ($5,200 per ton) and the United States ($5,192 per ton), while the price for Russia ($5,191 per ton) and Australia ($5,192 per ton) were amongst the lowest.
From 2013 to 2022, the most notable rate of growth in terms of prices was attained by Uruguay (+19.3%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Kuwait (FOB) - 2022
In 2022, the average export price for frozen bone-in cuts (excluding carcasses and half-carcasses) of bovine meat amounted to $5,290 per ton, declining by -6.8% against the previous year. Overall, the export price, however, showed a strong increase. The most prominent rate of growth was recorded in 2018 when the average export price increased by 131% against the previous year. As a result, the export price reached the peak level of $6,236 per ton. From 2019 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 the United Arab Emirates ($12,771 per ton), while the average price for exports to India amounted to $5,290 per ton.
From 2014 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bahrain (+664.5%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Kuwait
For the fourth consecutive year, Kuwait recorded growth in purchases abroad of frozen bone-in cuts (excluding carcasses and half-carcasses) of bovine meat, which increased by 117% to 1.5K tons in 2022. In general, imports continue to indicate a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, imports of frozen bone-in cuts (excluding carcasses and half-carcasses) of bovine meat surged to $8M in 2022. Overall, imports showed a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Kuwait (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 2.0 | 2.0 | 3.0 | 7.6 | 56.0% |
| Australia | 0.8 | 0.7 | 0.8 | 0.2 | -37.0% |
| Russia | N/A | N/A | N/A | 0.1 | 0% |
| Paraguay | 0.1 | 0.1 | 0.6 | N/A | 144.9% |
| Others | 0.3 | 0.2 | 0.2 | 0.1 | -30.7% |
| Total | 3.2 | 2.9 | 4.6 | 8.0 | 35.7% |
Top Suppliers of Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat to Kuwait in 2022:
- United States (1454.6 tons)
- Australia (46.5 tons)
- Russia (24.0 tons)
Exports of Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Kuwait
In 2022, after two years of decline, there was significant growth in overseas shipments of frozen bone-in cuts (excluding carcasses and half-carcasses) of bovine meat, when their volume increased by 601% to 15 tons. Over the period under review, exports, however, saw a abrupt contraction.
In value terms, exports of frozen bone-in cuts (excluding carcasses and half-carcasses) of bovine meat skyrocketed to $79K in 2022. Overall, exports saw strong growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Kuwait (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Arab Emirates | N/A | N/A | 12.1 | 48.2 | 298.3% |
| India | N/A | N/A | N/A | 30.9 | 0% |
| Iraq | 65.9 | N/A | N/A | N/A | 0% |
| Others | N/A | 39.0 | N/A | N/A | 0% |
| Total | 65.9 | 39.0 | 12.1 | 79.1 | 6.3% |
Top Export Markets for Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat from Kuwait in 2022:
- India (5.8 tons)
- United Arab Emirates (3.8 tons)
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