Australia and Oceania: Market for Fresh Or Chilled Cuts Of Turkey 2024

Market Size for Fresh Or Chilled Cuts Of Turkey in Australia and Oceania

The market for fresh or chilled cuts of turkey in Australia and Oceania fell modestly to $X in 2022, remaining stable against the previous year. The total consumption indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -4.5% against 2019 indices. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Production of Fresh Or Chilled Cuts Of Turkey in Australia and Oceania

In value terms, fresh or chilled turkey cut production reduced modestly to $X in 2022 estimated in export price. The total production indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -6.2% against 2019 indices. The pace of growth was the most pronounced in 2014 when the production volume increased by 27% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Australia (X tons) remains the largest fresh or chilled turkey cut producing country in Australia and Oceania, accounting for 78% of total volume. Moreover, fresh or chilled turkey cut production in Australia exceeded the figures recorded by the second-largest producer, Papua New Guinea (X tons), sixfold.

In Australia, fresh or chilled turkey cut production increased at an average annual rate of +9.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Papua New Guinea (+5.7% per year) and New Zealand (+4.8% per year).

Exports of Fresh Or Chilled Cuts Of Turkey

Exports in Australia and Oceania

In 2022, after two years of growth, there was significant decline in overseas shipments of fresh or chilled cuts of turkey, when their volume decreased by -38.2% to X tons. In general, exports recorded a abrupt downturn. The growth pace was the most rapid in 2018 when exports increased by 489% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, fresh or chilled turkey cut exports soared to $X in 2022. Over the period under review, exports, however, recorded a modest increase. The growth pace was the most rapid in 2014 with an increase of 427%. The level of export peaked at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

New Zealand prevails in exports structure, reaching X tons, which was near 90% of total exports in 2022. It was distantly followed by Samoa (X tons), constituting a 10% share of total exports.

New Zealand was also the fastest-growing in terms of the fresh or chilled cuts of turkey exports, with a CAGR of +44.9% from 2012 to 2022. At the same time, Samoa (+7.5%) displayed positive paces of growth. New Zealand (+89 p.p.) and Samoa (+8.3 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, New Zealand ($X) remains the largest fresh or chilled turkey cut supplier in Australia and Oceania, comprising 99% of total exports. The second position in the ranking was taken by Samoa ($X), with a 0.7% share of total exports.

From 2012 to 2022, the average annual growth rate of value in New Zealand stood at +52.7%.

Export Prices by Country

In 2022, the export price in Australia and Oceania amounted to $X per ton, increasing by 140% against the previous year. Overall, the export price continues to indicate a resilient increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was New Zealand ($X per ton), while Samoa amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+5.4%).

Imports of Fresh Or Chilled Cuts Of Turkey

Imports in Australia and Oceania

In 2022, supplies from abroad of fresh or chilled cuts of turkey increased by 18% to X tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports showed a strong expansion. The pace of growth appeared the most rapid in 2017 with an increase of 112%. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, fresh or chilled turkey cut imports rose markedly to $X in 2022. In general, imports continue to indicate a prominent expansion. The pace of growth appeared the most rapid in 2017 with an increase of 138% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

The purchases of the one major importers of fresh or chilled cuts of turkey, namely Samoa, represented more than two-thirds of total import.

Samoa was also the fastest-growing in terms of the fresh or chilled cuts of turkey imports, with a CAGR of +15.6% from 2012 to 2022. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, Samoa ($X) constitutes the largest market for imported fresh or chilled cuts of turkey in Australia and Oceania.

From 2012 to 2022, the average annual growth rate of value in Samoa amounted to +20.3%.

Import Prices by Country

The import price in Australia and Oceania stood at $X per ton in 2022, reducing by -10.7% against the previous year. Import price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, fresh or chilled turkey cut import price increased by +81.9% against 2016 indices. The growth pace was the most rapid in 2013 when the import price increased by 37%. Over the period under review, import prices hit record highs at $X per ton in 2021, and then fell in the following year.

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

From 2012 to 2022, the rate of growth in terms of prices for Samoa amounted to +4.0% per year.

Source: IndexBox Platform

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