Australia: Preserved Turkey Market 2024

Preserved Turkey Market Size in Australia

The Australian preserved turkey market declined modestly to $X in 2021, stabilizing at the previous year. In general, consumption, however, recorded a noticeable shrinkage. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Preserved Turkey Production in Australia

In value terms, preserved turkey production dropped modestly to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a noticeable contraction. The most prominent rate of growth was recorded in 2017 with an increase of 79% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2021, production growth remained at a lower figure.

Preserved Turkey Exports

Exports from Australia

Preserved turkey exports from Australia skyrocketed to X tons in 2021, jumping by 6,442% compared with 2020 figures. Over the period under review, exports posted significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, preserved turkey exports soared to $X in 2021. Overall, exports showed significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Thailand (X tons) was the main destination for preserved turkey exports from Australia, with a 31% share of total exports. Moreover, preserved turkey exports to Thailand exceeded the volume sent to the second major destination, the United Arab Emirates (X kg), more than tenfold. The third position in this ranking was taken by Singapore (X kg), with a 1.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Thailand stood at +19.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+60.1% per year) and Singapore (+2.0% per year).

In value terms, Thailand ($X) remains the key foreign market for prepared or preserved meat or offal of turkeys exports from Australia, comprising 27% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 1.9% share of total exports. It was followed by Nauru, with a 1.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Thailand totaled +16.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+59.3% per year) and Nauru (+42.8% per year).

Export Prices by Country

In 2021, the average preserved turkey export price amounted to $X per ton, with a decrease of -2.8% against the previous year. In general, export price indicated slight growth from 2012 to 2021: its price increased at an average annual rate of +1.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, preserved turkey export price increased by +66.7% against 2019 indices. The growth pace was the most rapid in 2015 when the average export price increased by 83% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2020, and then contracted modestly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Nauru ($X per ton), while the average price for exports to Singapore ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Comoros (+88.9%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Turkey Imports

Imports into Australia

Preserved turkey imports into Australia skyrocketed to X tons in 2021, increasing by 1,463% against the previous year's figure. Overall, imports, however, recorded a deep slump. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, preserved turkey imports soared to $X in 2021. Over the period under review, imports, however, showed a abrupt downturn. Over the period under review, imports reached the peak figure at $X in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the United States (X tons) was the main preserved turkey supplier to Australia, accounting for a 91% share of total imports. Moreover, preserved turkey imports from the United States exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States amounted to -5.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+6.1% per year) and the Philippines (+22.4% per year).

In value terms, the United States ($X) constituted the largest supplier of prepared or preserved meat or offal of turkeys to Australia, comprising 86% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 4.2% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States stood at -5.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+7.5% per year) and the Philippines (+36.8% per year).

Import Prices by Country

The average preserved turkey import price stood at $X per ton in 2021, standing approx. at the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the average import price increased by 20%. Over the period under review, average import prices reached the maximum at $X per ton in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the Philippines ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+11.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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