Somalia: Beef Market 2020

Beef Market Size in Somalia

The revenue of the beef market in Somalia amounted to $X in 2018, dropping by -X% against the previous year. In general, beef consumption continues to indicate a slight downturn. The pace of growth appeared the most rapid in 2015 when the market value increased by X% against the previous year. In that year, the beef market attained its peak level of $X. From 2016 to 2018, the growth of the beef market failed to regain its momentum.

Beef Production in Somalia

In value terms, beef production amounted to $X in 2018 estimated in export prices. Over the period under review, beef production continues to indicate a mild setback. The pace of growth was the most pronounced in 2015 when production volume increased by X% year-to-year. In that year, beef production reached its peak level of $X. From 2016 to 2018, beef production growth remained at a lower figure.

Beef Exports

Exports from Somalia

In 2018, approx. X tons of beef (cattle meat) were exported from Somalia; going up by X% against the previous year. Over the period under review, beef exports, however, continue to indicate a pronounced reduction. The most prominent rate of growth was recorded in 2015 when exports increased by X% y-o-y. Over the period under review, beef exports reached their peak figure at X tons in 2007; however, from 2008 to 2018, exports failed to regain their momentum.

In value terms, beef exports totaled $X in 2018. In general, beef exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when exports increased by X% against the previous year. Somalia exports peaked at $X in 2007; however, from 2008 to 2018, exports stood at a somewhat lower figure.

Exports by Country

In 2018, Brazil (X tons), India (X tons), Australia (X tons) and the U.S. (X tons) represented the largest exporters of beef (cattle meat) in the world, mixing up X% of total export. It was distantly followed by the Netherlands (X tons), mixing up a X% share of total exports. New Zealand (X tons), Poland (X tons), Ireland (X tons), Canada (X tons), Argentina (X tons), Germany (X tons) and Uruguay (X tons) took a relatively small share of total exports.

From 2007 to 2018, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by India, while the other leaders experienced more modest paces of growth.

In value terms, the largest beef markets from Somalia were the U.S. ($X), Australia ($X) and Brazil ($X), with a combined X% share of total exports. These countries were followed by India, the Netherlands, Ireland, New Zealand, Argentina, Canada, Poland, Germany, Uruguay and Somalia, which together accounted for a further X terms of the main exporting countries, India experienced the highest rates of growth with regard to exports, over the last eleven years, while the other leaders experienced more modest paces of growth.

Export Prices by Country

The beef export price in Somalia stood at $X per ton in 2018, leveling off at the previous year. Over the period under review, the export price indicated a notable increase from 2007 to 2018: its price increased at an average annual rate of +X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, beef export price increased by +X% against 2011 indices. The most prominent rate of growth was recorded in 2015 when the export price increased by X% year-to-year. Over the period under review, the export prices for beef (cattle meat) attained their maximum at $X per ton in 2017, leveling off in the following year.

Prices varied noticeably by the country of origin; the country with the highest price was the U.S. ($X per ton), while India ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by India, while the other leaders experienced more modest paces of growth.

Beef Imports

Imports into Somalia

In 2018, the amount of beef (cattle meat) imported into Somalia stood at X tons, growing by X% against the previous year. Overall, beef imports, however, continue to indicate an abrupt shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of X% year-to-year. Over the period under review, beef imports reached their peak figure at X tons in 2007; however, from 2008 to 2018, imports remained at a lower figure.

In value terms, beef imports amounted to $X in 2018. Over the period under review, beef imports, however, continue to indicate a pronounced reduction. The most prominent rate of growth was recorded in 2018 with an increase of X% y-o-y. Over the period under review, beef imports reached their maximum at $X in 2007; however, from 2008 to 2018, imports remained at a lower figure.

Imports by Country

The countries with the highest levels of beef imports in 2018 were the U.S. (X tons), Vietnam (X tons), China (X tons), Japan (X tons), South Korea (X tons), China, Hong Kong SAR (X tons), the Netherlands (X tons), Italy (X tons), Germany (X tons), Russia (X tons), the UK (X tons) and France (X tons), together finishing at X% of total import.

From 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by Vietnam, while the other leaders experienced more modest paces of growth.

In value terms, the largest beef importing markets into Somalia were the U.S. ($X), Japan ($X) and China ($X), with a combined X% share of total imports. South Korea, Vietnam, Germany, Italy, China, Hong Kong SAR, the Netherlands, the UK, France, Russia and Somalia lagged somewhat behind, together comprising a further X the main importing countries, Vietnam experienced the highest growth rate of imports, over the last eleven years, while the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2018, the beef import price in Somalia amounted to $X per ton, surging by X% against the previous year. Over the last eleven-year period, it increased at an average annual rate of +X%. The most prominent rate of growth was recorded in 2015 when the import price increased by X% against the previous year. Somalia import price peaked in 2018 and is expected to retain its growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was South Korea ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by the U.S., while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform