Australia: Frozen Pork Cut Market 2024

Frozen Pork Cut Market Size in Australia

The Australian frozen pork cut market shrank slightly to $X in 2022, waning by -3.1% against the previous year. Over the period under review, consumption, however, recorded a strong increase. Frozen pork cut consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Frozen Pork Cut Production in Australia

In value terms, frozen pork cut production contracted slightly to $X in 2022 estimated in export price. Overall, production, however, showed a strong increase. The pace of growth was the most pronounced in 2017 when the production volume increased by 58% against the previous year. Frozen pork cut production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Frozen Pork Cut Exports

Exports from Australia

After two years of growth, overseas shipments of frozen hams, shoulders and cuts of pig meat decreased by -17.4% to X tons in 2022. Over the period under review, exports, however, saw resilient growth. The most prominent rate of growth was recorded in 2014 when exports increased by 164% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then dropped markedly in the following year.

In value terms, frozen pork cut exports shrank to $X in 2022. Overall, exports, however, showed a prominent expansion. The pace of growth appeared the most rapid in 2014 when exports increased by 103% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then reduced in the following year.

Exports by Country

Papua New Guinea (X tons), New Zealand (X tons) and the Philippines (X tons) were the main destinations of frozen pork cut exports from Australia, with a combined 64% share of total exports. Vietnam, Malaysia, Singapore, South Korea and Hong Kong SAR lagged somewhat behind, together comprising a further 32%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Korea (with a CAGR of +43.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for frozen pork cut exported from Australia were Papua New Guinea ($X), New Zealand ($X) and the Philippines ($X), together accounting for 71% of total exports. Vietnam, Malaysia, Singapore, South Korea and Hong Kong SAR lagged somewhat behind, together comprising a further 23%.

South Korea, with a CAGR of +45.1%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average frozen pork cut export price amounted to $X per ton, rising by 4.6% against the previous year. In general, the export price, however, saw a noticeable contraction. The most prominent rate of growth was recorded in 2019 an increase of 20% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was New Zealand ($X per ton), while the average price for exports to South Korea ($X 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 New Zealand (+3.4%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Pork Cut Imports

Imports into Australia

Frozen pork cut imports into Australia was estimated at X tons in 2022, approximately mirroring 2021 figures. Over the period under review, imports recorded a sharp decline. The smallest decline of 99.9% was in 2021. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, frozen pork cut imports stood at $X in 2022. Overall, imports recorded a deep slump. The smallest decline of 99.9% was in 2021. Over the period under review, imports reached the maximum at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The Netherlands (X kg), Canada (X kg) and Ireland (X kg) were the main suppliers of frozen pork cut imports to Australia, together comprising 53% of total imports. The United States and Denmark lagged somewhat behind, together comprising a further 9%.

From 2012 to 2022, the biggest increases were recorded for Denmark (with a CAGR of 0.0%), while purchases for the other leaders experienced a decline.

In value terms, the largest frozen pork cut suppliers to Australia were the Netherlands ($X), Canada ($X) and Ireland ($X), with a combined 53% share of total imports. The United States and Denmark lagged somewhat behind, together accounting for a further 9%.

Denmark, with a CAGR of 0.0%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average frozen pork cut import price amounted to $X per ton, flattening at the previous year. In general, the import price recorded a perceptible expansion. The most prominent rate of growth was recorded in 2021 when the average import price decreased by 99.9% against the previous year. The import price peaked at $X per ton in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

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 the United States ($X per ton), while the price for Denmark ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+5.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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