Australia - Lamb And Sheep Meat - Market Analysis, Forecast, Size, Trends and Insights
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View PricingAustralia's Lamb and Sheep Meat Price Drops Slightly to $5,767 per Ton
Australia Lamb and Sheep Meat Export Price in December 2022
In December 2022, the lamb and sheep meat price amounted to $5,767 per ton (FOB, Australia), falling by -4.2% against the previous month. In general, the export price continues to indicate a mild setback. The pace of growth appeared the most rapid in June 2022 when the average export price increased by 3.9% against the previous month. As a result, the export price attained the peak level of $7,701 per ton. From July 2022 to December 2022, the the average export prices remained at a somewhat lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was Canada ($9,203 per ton), while the average price for exports to Papua New Guinea ($2,795 per ton) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to Canada (-0.2%), while the prices for the other major destinations experienced a decline.
| COUNTRY | Dec 2021 | Jan 2022 | Feb 2022 | Mar 2022 | Apr 2022 | May 2022 | Jun 2022 | Jul 2022 | Aug 2022 | Sep 2022 | Oct 2022 | Nov 2022 | Dec 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Export Price Lamb and Sheep Meat in Australia (USD per kg) | |||||||||||||
| Canada | 9.4 | 9.4 | 10.2 | 10.0 | 9.8 | 10.0 | 10.2 | 9.5 | 9.6 | 8.7 | 8.9 | 8.5 | 9.2 |
| United Kingdom | 7.3 | 8.0 | 8.6 | 10.2 | 10.0 | 9.8 | 10.2 | 9.4 | 9.3 | 8.5 | 8.5 | 8.8 | 6.6 |
| Saudi Arabia | 7.2 | 6.4 | 7.5 | 7.1 | 7.8 | 7.4 | 7.6 | 7.6 | 5.7 | 5.1 | 6.4 | 5.9 | 5.2 |
| Taiwan (Chinese) | 5.0 | 4.7 | 5.4 | 5.3 | 5.5 | 5.0 | 6.2 | 5.7 | 6.5 | 5.9 | 4.9 | 4.9 | 4.1 |
| Singapore | 6.2 | 5.8 | 5.6 | 6.0 | 6.6 | 6.5 | 6.3 | 6.1 | 7.8 | 5.6 | 5.1 | 5.7 | 5.2 |
| United Arab Emirates | 7.7 | 7.9 | 8.2 | 8.1 | 8.3 | 8.0 | 8.0 | 8.3 | 7.9 | 7.7 | 7.3 | 7.1 | 6.7 |
| Papua New Guinea | 3.3 | 3.1 | 3.1 | 3.2 | 3.2 | 2.9 | 2.9 | 2.8 | 2.8 | 2.9 | 2.8 | 2.7 | 2.8 |
| United States | 10.1 | 10.5 | 10.9 | 11.3 | 11.1 | 11.3 | 11.4 | 10.6 | 10.4 | 10.0 | 9.5 | 8.6 | 8.3 |
| Malaysia | 6.8 | 6.4 | 6.5 | 6.7 | 6.8 | 6.4 | 6.6 | 6.6 | 6.2 | 6.5 | 5.5 | 5.2 | 5.1 |
| China | 5.8 | 5.7 | 5.6 | 5.2 | 5.3 | 5.3 | 4.9 | 4.7 | 4.8 | 4.9 | 4.6 | 4.2 | 3.9 |
| Japan | 9.0 | 9.1 | 9.3 | 10.1 | 9.4 | 9.9 | 9.8 | 9.3 | 9.5 | 9.4 | 8.0 | 8.3 | 8.6 |
| South Korea | 9.1 | 8.2 | 8.8 | 8.4 | 8.4 | 9.4 | 9.4 | 9.1 | 9.4 | 9.6 | 10.5 | 8.5 | 8.5 |
| Average | 7.2 | 7.4 | 7.3 | 7.6 | 7.6 | 7.4 | 7.7 | 7.2 | 7.2 | 6.7 | 6.5 | 6.0 | 5.8 |
Australia Lamb and Sheep Meat Export Prices by Type
There were significant differences in the average prices for the major types of exported product. In December 2022, the product with the highest price was fresh or chilled sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses) ($10,401 per ton), while the average price for exports of fresh or chilled sheep (excluding lamb) carcasses and half-carcasses ($3,365 per ton) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for the following types: fresh or chilled sheep (excluding lamb) carcasses and half-carcasses (+0.6%), while the prices for the other products experienced a decline.
Australia Lamb and Sheep Meat Exports
In December 2022, the amount of lamb and sheep meat exported from Australia expanded significantly to 43K tons, growing by 10% compared with the previous month. Over the period under review, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in February 2022 with an increase of 20% month-to-month. Over the period under review, the exports hit record highs at 44K tons in October 2022; however, from November 2022 to December 2022, the exports failed to regain momentum.
In value terms, lamb and sheep meat exports rose rapidly to $247M (IndexBox estimates) in December 2022. Overall, exports, however, continue to indicate a mild reduction. The pace of growth appeared the most rapid in March 2022 with an increase of 21% month-to-month. The exports peaked at 310K tons in June 2022; however, from July 2022 to December 2022, the exports remained at a lower figure.
Australia Lamb and Sheep Meat Exports by Type
Frozen sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses) (25K tons) was the largest type of lamb and sheep meat exported from Australia, accounting for a 58% share of total exports. Moreover, frozen sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses) exceeded the volume of the second product type, frozen sheep (including lamb) boneless cuts (7.6K tons), threefold. Fresh or chilled sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses) (5.1K tons) ranked third in terms of total exports with a 12% share.
From December 2021 to December 2022, the average monthly rate of growth in terms of the volume of export of frozen sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses) was relatively modest. With regard to the other exported products, the following average monthly rates of growth were recorded: frozen sheep (including lamb) boneless cuts (+1.1% per month) and fresh or chilled sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses) (-0.4% per month).
In value terms, frozen sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses) ($109M) remains the largest type of lamb and sheep meat exported from Australia, comprising 44% of total exports. The second position in the ranking was held by fresh or chilled sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses) ($53M), with a 21% share of total exports. It was followed by frozen sheep (including lamb) boneless cuts, with a 19% share.
From December 2021 to December 2022, the average monthly rate of growth in terms of the export volume of frozen sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses) totaled -2.7%. With regard to the other exported products, the following average monthly rates of growth were recorded: fresh or chilled sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses) (-1.1% per month) and frozen sheep (including lamb) boneless cuts (-0.5% per month).
Australia Lamb and Sheep Meat Exports by Country
China (15K tons), the United States (8K tons) and Malaysia (2.2K tons) were the main destinations of lamb and sheep meat exports from Australia, together comprising 58% of total exports. These countries were followed by Papua New Guinea, the United Arab Emirates, South Korea, Singapore, Saudi Arabia, the UK, Canada, Japan and Taiwan (Chinese), which together accounted for a further 28%.
From December 2021 to December 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Singapore (with a CAGR of +2.7%), while the other leaders experienced more modest paces of growth.
In value terms, the United States ($66M), China ($57M) and South Korea ($16M) were the largest markets for lamb and sheep meat exported from Australia worldwide, with a combined 56% share of total exports.
In terms of the main countries of destination, South Korea, with a CAGR of +2.1%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.
This report provides an in-depth analysis of the market for lamb and sheep meat in Australia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 977 - Meat of sheep
Country coverage:
- Australia
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Australia
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- COUNTRIES WITH TOP YIELDS
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION, PRODUCING ANIMALS AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Yield And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Producing Animals Slaughtered, 2012–2023
- Yield, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
