New Zealand: Fresh Beef Carcase Market 2024

Fresh Beef Carcase Market Size in New Zealand

The New Zealand fresh beef carcase market fell slightly to $X in 2022, reducing by -2.3% against the previous year. Overall, consumption, however, continues to indicate a strong increase. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Fresh Beef Carcase Production in New Zealand

In value terms, fresh beef carcase production reduced modestly to $X in 2022 estimated in export price. Overall, production, however, saw prominent growth. The most prominent rate of growth was recorded in 2018 with an increase of 50% against the previous year. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Fresh Beef Carcase Exports

Exports from New Zealand

In 2022, approx. X tons of fresh or chilled carcases of beef and veal were exported from New Zealand; with an increase of 60% compared with the year before. Overall, total exports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +76.8% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, fresh beef carcase exports soared to $X in 2022. In general, exports posted a prominent increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United Arab Emirates (X tons), French Polynesia (X tons) and South Korea (X tons) were the main destinations of fresh beef carcase exports from New Zealand, together accounting for 52% of total exports. The United States, China, Bahrain, Saudi Arabia, New Caledonia, Oman, Singapore, Canada, Australia and Kuwait lagged somewhat behind, together comprising a further 40%.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +85.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for fresh beef carcase exported from New Zealand were the United Arab Emirates ($X), French Polynesia ($X) and the United States ($X), with a combined 51% share of total exports. South Korea, Bahrain, Singapore, New Caledonia, Saudi Arabia, China, Oman, Canada, Australia and Kuwait lagged somewhat behind, together comprising a further 41%.

China, with a CAGR of +87.4%, saw the highest growth rate of the value of exports, in terms of 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

The average fresh beef carcase export price stood at $X per ton in 2022, shrinking by -1.9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.5%. The most prominent rate of growth was recorded in 2015 an increase of 13% against the previous year. The export price peaked at $X per ton in 2021, and then dropped slightly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to South Korea ($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 South Korea (+6.9%), while the prices for the other major destinations experienced more modest paces of growth.

Fresh Beef Carcase Imports

Imports into New Zealand

In 2022, fresh beef carcase imports into New Zealand shrank dramatically to X tons, reducing by -22.9% against the previous year. In general, imports continue to indicate a perceptible slump. The most prominent rate of growth was recorded in 2021 when imports increased by 1,270%. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, fresh beef carcase imports shrank notably to $X in 2022. Overall, imports continue to indicate a mild reduction. The pace of growth was the most pronounced in 2021 with an increase of 1,042%. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Australia (X tons) was the main supplier of fresh beef carcase to New Zealand, with a approx. 100% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from Australia amounted to +8.7%.

In value terms, Australia ($X) constituted the largest supplier of fresh or chilled carcases of beef and veal to New Zealand.

From 2012 to 2022, the average annual rate of growth in terms of value from Australia stood at +5.6%.

Import Prices by Country

In 2022, the average fresh beef carcase import price amounted to $X per ton, which is down by -18.8% against the previous year. In general, the import price, however, enjoyed a modest increase. The most prominent rate of growth was recorded in 2020 an increase of 85% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to +8.5% per year.

Source: IndexBox Platform

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