India: Preserved Beef Market 2024

Preserved Beef Market Size in India

In 2021, after nine years of growth, there was significant decline in the Indian preserved beef market, when its value decreased by -13.4% to $X. In general, consumption, however, posted a buoyant increase. Preserved beef consumption peaked at $X in 2020, and then shrank in the following year.

Preserved Beef Production in India

In value terms, preserved beef production reduced to $X in 2021 estimated in export price. Overall, production saw a prominent expansion. The pace of growth was the most pronounced in 2016 with an increase of 25%. Over the period under review, production hit record highs at $X in 2020, and then fell in the following year.

Preserved Beef Exports

Exports from India

In 2021, overseas shipments of beef and veal (salted, in brine, dried or smoked) were finally on the rise to reach X tons after eight years of decline. Over the period under review, exports, however, showed a noticeable decrease. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, preserved beef exports soared to $X in 2021. In general, exports saw a slight expansion. 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 beef exports from India, accounting for a 75% share of total exports. Moreover, preserved beef exports to Thailand exceeded the volume sent to the second major destination, Hong Kong SAR (X tons), threefold. Comoros (X tons) ranked third in terms of total exports with a 1.1% share.

From 2012 to 2021, the average annual growth rate of volume to Thailand stood at +6.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+40.7% per year) and Comoros (-31.4% per year).

In value terms, Thailand ($X) remains the key foreign market for beef and veal (salted, in brine, dried or smoked) exports from India, comprising 67% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 31% share of total exports. It was followed by Myanmar, with a 0.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Thailand amounted to +8.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+70.4% per year) and Myanmar (-32.5% per year).

Export Prices by Country

In 2021, the average preserved beef export price amounted to $X per ton, falling by -6.7% against the previous year. In general, export price indicated a prominent expansion from 2012 to 2021: its price increased at an average annual rate of +5.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, preserved beef export price increased by +66.0% against 2013 indices. The pace of growth was the most pronounced in 2020 an increase of 17% against the previous year. As a result, the export price reached the peak level of $X per ton, and then shrank in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Myanmar ($X per ton), while the average price for exports to Comoros ($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 Hong Kong SAR (+21.1%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Beef Imports

Imports into India

In 2021, overseas purchases of beef and veal (salted, in brine, dried or smoked) increased by 114% to X tons, rising for the fourth consecutive year after two years of decline. Over the period under review, imports saw a significant increase. The growth pace was the most rapid in 2014 with an increase of 23,576%. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, preserved beef imports surged to $X in 2021. In general, imports posted significant growth. The growth pace was the most rapid in 2014 when imports increased by 14,161% against the previous year. Over the period under review, imports reached the peak figure at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

Vietnam (X tons) and Malaysia (X tons) were the main suppliers of preserved beef imports to India.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of +109.9%).

In value terms, Vietnam ($X) constituted the largest supplier of beef and veal (salted, in brine, dried or smoked) to India, comprising 46% of total imports. The second position in the ranking was taken by Malaysia ($X), with an 8.4% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Vietnam totaled +95.5%.

Import Prices by Country

The average preserved beef import price stood at $X per ton in 2021, with an increase of 34% against the previous year. Over the period under review, the import price showed strong growth. The most prominent rate of growth was recorded in 2020 when the average import price increased by 60% against the previous year. Over the period under review, average import prices hit record highs in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Vietnam ($X per ton), while the price for Malaysia stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+5.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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