Oman: Fresh Beef Carcase Market 2024

Fresh Beef Carcase Market Size in Oman

The Omani fresh beef carcase market dropped to $X in 2022, shrinking by -5.7% against the previous year. Overall, consumption, however, continues to indicate a prominent increase. Fresh beef carcase consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Fresh Beef Carcase Production in Oman

In value terms, fresh beef carcase production dropped to $X in 2022 estimated in export price. In general, production, however, enjoyed strong growth. The growth pace was the most rapid in 2014 when the production volume increased by 93%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Fresh Beef Carcase Exports

Exports from Oman

In 2022, approx. X tons of fresh or chilled carcases of beef and veal were exported from Oman; declining by -46.5% compared with 2021. In general, exports recorded a deep downturn. The most prominent rate of growth was recorded in 2017 when exports increased by 80%. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, fresh beef carcase exports shrank markedly to $X in 2022. Overall, exports recorded a deep reduction. The most prominent rate of growth was recorded in 2017 with an increase of 48%. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X tons) was the main destination for fresh beef carcase exports from Oman, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the United Arab Emirates stood at -12.1%.

In value terms, the United Arab Emirates ($X) also remains the key foreign market for fresh or chilled carcases of beef and veal exports from Oman.

From 2012 to 2022, the average annual growth rate of value to the United Arab Emirates stood at -13.9%.

Export Prices by Country

In 2022, the average fresh beef carcase export price amounted to $X per ton, with an increase of 7.4% against the previous year. Overall, the export price, however, continues to indicate a pronounced shrinkage. The most prominent rate of growth was recorded in 2016 an increase of 46%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the average export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for the United Arab Emirates.

From 2012 to 2022, the rate of growth in terms of prices for the United Arab Emirates amounted to -2.1% per year.

Fresh Beef Carcase Imports

Imports into Oman

For the third consecutive year, Oman recorded decline in supplies from abroad of fresh or chilled carcases of beef and veal, which decreased by -11% to X tons in 2022. Overall, imports saw a deep downturn. The pace of growth was the most pronounced in 2015 when imports increased by 32% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, fresh beef carcase imports declined to $X in 2022. Over the period under review, imports showed a noticeable slump. The most prominent rate of growth was recorded in 2015 when imports increased by 69%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Pakistan (X tons) constituted the largest fresh beef carcase supplier to Oman, with a 79% share of total imports. Moreover, fresh beef carcase imports from Pakistan exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), sevenfold. The third position in this ranking was taken by New Zealand (X tons), with a 1.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Pakistan totaled -8.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+6.2% per year) and New Zealand (+22.0% per year).

In value terms, Pakistan ($X) constituted the largest supplier of fresh or chilled carcases of beef and veal to Oman, comprising 67% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 16% share of total imports. It was followed by New Zealand, with a 5.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Pakistan stood at -5.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+8.9% per year) and New Zealand (+28.4% per year).

Import Prices by Country

In 2022, the average fresh beef carcase import price amounted to $X per ton, increasing by 2.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.8%. The pace of growth appeared the most rapid in 2015 an increase of 28% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

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 New Zealand ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+5.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :