Price for Frozen Boneless Cuts of Bovine Meat in Kuwait - 2022
Contents:
- Price for Frozen Boneless Cuts of Bovine Meat in Kuwait (CIF) - 2022
- Price for Frozen Boneless Cuts of Bovine Meat in Kuwait (FOB) - 2022
- Imports of Frozen Boneless Cuts of Bovine Meat in Kuwait
- Exports of Frozen Boneless Cuts of Bovine Meat in Kuwait
Price for Frozen Boneless Cuts of Bovine Meat in Kuwait (CIF) - 2022
In 2022, the average import price for frozen boneless cuts of bovine meat amounted to $6,042 per ton, picking up by 26% against the previous year. Over the period from 2013 to 2022, it increased at an average annual rate of +3.5%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was South Africa ($7,040 per ton), while the price for India ($3,361 per ton) was amongst the lowest.
From 2013 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (+9.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Frozen Boneless Cuts of Bovine Meat in Kuwait (FOB) - 2022
The average export price for frozen boneless cuts of bovine meat stood at $5,535 per ton in 2022, with an increase of 3% against the previous year. Over the period under review, export price indicated notable growth from 2013 to 2022: its price increased at an average annual rate of +2.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for frozen boneless cuts of bovine meat increased by +126.9% against 2019 indices. The most prominent rate of growth was recorded in 2020 when the average export price increased by 89% against the previous year. The export price peaked at $6,109 per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.
Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were Liberia ($5,535 per ton) and Qatar ($5,535 per ton), while the average price for exports to Iraq ($5,534 per ton) and Oman ($5,534 per ton) were amongst the lowest.
From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+18.5%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Frozen Boneless Cuts of Bovine Meat in Kuwait
For the fourth consecutive year, Kuwait recorded growth in purchases abroad of frozen boneless cuts of bovine meat, which increased by 2.9% to 20K tons in 2022. The total import volume increased at an average annual rate of +10.0% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 when imports increased by 17% against the previous year. Over the period under review, imports of attained the maximum in 2022 and are likely to continue growth in years to come.
In value terms, imports of frozen boneless cuts of bovine meat surged to $123M in 2022. In general, total imports indicated a prominent increase from 2019 to 2022: its value increased at an average annual rate of +17.9% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +66.0% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Frozen Boneless Cuts of Bovine Meat in Kuwait (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Paraguay | 15.7 | 22.9 | 24.0 | 33.5 | 28.7% |
| United States | 14.0 | 11.6 | 21.8 | 31.9 | 31.6% |
| Brazil | N/A | 1.2 | 4.7 | 18.8 | 295.8% |
| India | 16.7 | 16.3 | 18.6 | 18.1 | 2.7% |
| Australia | 8.2 | 7.1 | 11.2 | 10.4 | 8.2% |
| South Africa | 1.4 | 3.7 | 1.2 | 2.2 | 16.3% |
| Saudi Arabia | 12.6 | 5.5 | 2.7 | 1.9 | -46.8% |
| Others | 6.2 | 5.5 | 10.4 | 5.9 | -1.6% |
| Total | 74.7 | 73.8 | 94.6 | 123 | 18.1% |
Top Suppliers of Frozen Boneless Cuts of Bovine Meat to Kuwait in 2022:
- India (5.4K tons)
- Paraguay (4.8K tons)
- United States (4.5K tons)
- Brazil (2.7K tons)
- Australia (1.5K tons)
- Saudi Arabia (0.3K tons)
- South Africa (0.3K tons)
Exports of Frozen Boneless Cuts of Bovine Meat in Kuwait
Exports of frozen boneless cuts of bovine meat from Kuwait reduced to 279 tons in 2022, falling by -10.7% on 2021 figures. In general, exports faced a sharp downturn.
In value terms, exports of frozen boneless cuts of bovine meat shrank to $1.5M in 2022. Over the period under review, exports recorded a precipitous descent.
| Export of Frozen Boneless Cuts of Bovine Meat in Kuwait (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Qatar | 101 | 625 | 279 | 1,136 | 124.1% |
| United Arab Emirates | 344 | 1,348 | 1,297 | 200 | -16.5% |
| Liberia | N/A | N/A | N/A | 101 | 0% |
| Oman | N/A | 14.3 | 5.1 | 77.5 | 132.8% |
| Iraq | 2,425 | N/A | 8.0 | 26.9 | -77.7% |
| Jordan | 233 | N/A | N/A | N/A | 0% |
| Yemen | 214 | N/A | N/A | N/A | 0% |
| Others | 37.3 | 117 | 90.8 | 3.8 | -53.3% |
| Total | 3,355 | 2,105 | 1,680 | 1,545 | -22.8% |
Top Export Markets for Frozen Boneless Cuts of Bovine Meat from Kuwait in 2022:
- Qatar (205.3 tons)
- United Arab Emirates (36.1 tons)
- Liberia (18.3 tons)
- Oman (14.0 tons)
- Iraq (4.9 tons)
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