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World’s Best Import Markets for Beef

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Global Trade Daily, Imports/Exports, United states news

World’s Best Import Markets for Beef

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Beef is one of the most widely consumed meats globally, and the demand for high-quality beef continues to grow. As a result, the international beef trade plays a crucial role in meeting this demand and providing consumers with a diverse range of beef products. In this article, we will explore the world’s best import markets for beef, examining the key statistics and figures sourced from the IndexBox market intelligence platform.

1. China: A Meat-Loving Giant

China has emerged as the leading import market for beef, with an import value of 17.8 billion USD in 2022. The rising disposable incomes and changing dietary preferences of Chinese consumers have contributed to the growing demand for beef in the country. Additionally, the increasing urbanization and Westernization of Chinese diets have also played a significant role in this trend.

2. United States: A Dominant Force

The United States ranks second in terms of beef imports, with an import value of 7.7 billion USD in 2022. Despite being a leading producer and exporter of beef, the U.S. also imports a significant amount to meet the demand for certain cuts and specialties. It is worth noting that the U.S. imports a considerable amount of beef from neighboring countries, such as Canada and Mexico, due to their geographical proximity.

3. South Korea: A Growing Market

South Korea is another important market for beef imports, with an import value of 4.2 billion USD in 2022. The country has experienced a surge in beef consumption, driven by changing dietary habits and increasing affluence. South Korean consumers have developed a taste for premium beef cuts, leading to a rise in imports from countries known for their high-quality beef, such as Australia and the United States.

4. Japan: A Traditional Market

Japan remains a significant player in the global beef import market, with an import value of 3.7 billion USD in 2022. Despite being a traditional market for beef, Japan has been facing challenges in maintaining its domestic production due to an aging farming population and limited land availability. As a result, the country heavily relies on imports to meet the demand for beef, especially high-quality Wagyu beef.

5. Netherlands: A European Hub

The Netherlands has established itself as a key import market for beef, with an import value of 2.5 billion USD in 2022. The country acts as a distribution hub for beef in Europe due to its central location and efficient logistics infrastructure. Additionally, the Netherlands is known for its high-quality beef processing industry, making it an attractive destination for imported beef.

6. Italy: A Culinary Delight

Italian cuisine is renowned for its delicious meat dishes, and beef plays a significant role in traditional Italian recipes. Italy imports around 2.5 billion USD worth of beef, sourcing both premium cuts and lower-grade meat for various culinary purposes. The country’s love for beef, especially in dishes like Bistecca alla Fiorentina, drives its import market.

7. Germany: Meeting Growing Demand

Germany is a leading player in the European beef import market, with an import value of 2.5 billion USD in 2022. The country has witnessed a steady rise in beef consumption, especially due to the influence of international cuisines and changing dietary preferences. German consumers rely on imports to meet the growing demand for beef, particularly for niche and specialty products.

8. France: A Gastronomic Paradise

France is renowned worldwide for its gastronomy and culinary traditions, and beef holds a special place in French cuisine. The country imports around 2.0 billion USD worth of beef, allowing French consumers to enjoy a diverse range of beef products from different regions. The demand for premium cuts and specialty beef items drives the import market in France.

9. United Kingdom: A Beef-Loving Nation

The United Kingdom is known for its love of beef, and it imports approximately 1.5 billion USD worth of beef products. Despite being a significant producer and exporter of beef, the UK imports certain cuts and specialty items to meet the demand of its discerning consumers. The import market in the UK primarily caters to the diverse needs of its population.

10. Chile: South America’s Beef Powerhouse

Chile has emerged as a prominent player in South America’s beef export market, with an import value of 1.5 billion USD in 2022. The country is known for its extensive cattle ranching and production capabilities, allowing it to export high-quality beef to various international markets. Chilean beef is valued for its taste, tenderness, and sustainability, making it a sought-after choice in the global import market.

In conclusion, the world’s best import markets for beef are diverse and reflect the changing dietary preferences and culinary traditions of different countries. China leads the pack with its soaring demand for beef, while the United States remains a dominant force despite being a significant beef producer. Countries like South Korea, Japan, the Netherlands, Italy, Germany, France, the United Kingdom, and Chile also play crucial roles in the global beef import market, offering consumers access to a wide range of beef products from different regions. For detailed and up-to-date information on the beef import market, the IndexBox market intelligence platform provides valuable insights and data.

Source: IndexBox Market Intelligence Platform  

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U.S. Beef Market Will Face Rising Prices Due to Expected Livestock Curbs

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IndexBox has just published a new report: ‘U.S. – Beef (Cattle Meat) – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

Despite prices remaining consistent in the first half of 2021, an increase is expected in the immediate term. The projected 2% fall in the American cattle population by 2022 threatens to increase beef prices by near 5%. Investment into the alternative protein sector has dramatically increased; and the emerging food inflation mitigates income growth from counter-covid support measures, which may hamper the beef market growth. 

Key Trends and Insights

In the first half of 2021, prices remained unchanged against the end of 2020. Previously, beef prices in the U.S. surged on average by 10-14% in May 2020 when the first outbreak of the pandemic was recorded. They remained high until June and then fell slightly in August, stabilizing at around $4 to $9.3 per pound, depending on the type of beef, through to the end of the year.

Beef production is set to fall by 2% in 2021, owing to the decline in the cattle population. The dry weather conditions have led to the depletion of grazing land and the increased cost of animal feed; farmers are now being forced to quicken cattle slaughter and curb the number of livestock. Against a sustained demand for beef, these factors may cause meat prices to rise by 5% on average in 2022.

Rising soybean prices could also accelerate the costs of cattle meals. Expectations of further price increases accelerate not only the price for beef but the overall food inflation in the U.S. Should the inflation not be curbed by monetary authorities, it is to offset the positive impact of the government support measures on income growth and hamper consumer spending, which will spill over to the beef market.

A significant volume of beef and lamb imports are sent to the U.S. from Canada, Australia and Mexico. Canada is also experiencing a fall in the number of head of cattle, while the Australian Department of Agriculture, Water and the Environment is forecasting an increase in the cattle population over 2021-2022, which is to propel exports and mitigate the beef price growth. These factors should consolidate Australia’s position on the American beef market.

The alternative protein market is currently seeing robust expansion. Investment into this sector in 2020 trebled, reaching $3.1В. This may also constrain the growth of the American beef market, particularly taking into account rising prices.

The growing population and the established culture of beef consumption remain key drivers behind beef consumption in the U.S. Despite the above-mentioned risks, the American beef market is forecast to expand gradually to 13.5M tonnes by 2030 (IndexBox estimates).

U.S. Beef Production

In 2020, beef production increased by 0.3% to 12M tonnes, rising for the fourth consecutive year after four years of decline. In general, production showed a relatively flat trend pattern. The most prominent growth rate was recorded in 2017 when the production volume increased by 3.8% y-o-y. Over the period under review, production reached the peak volume in 2020 and is expected to retain growth in the immediate term.

In value terms, beef production dropped slightly to $86.1B in 2020. The total output value increased at an average annual rate of +2.4% from 2012 to 2020; the trend pattern remained relatively stable, with noticeable fluctuations observed throughout the analyzed period.

U.S. Beef Imports

In 2020, supplies from abroad of cattle meat increased by 9.6% to 1.1M tonnes, rising for the third year in a row after two years of decline. In value terms, beef imports rose sharply to $6.4B in 2020.

Canada (282K tonnes), Mexico (239K tonnes) and Australia (219K tonnes) were the main suppliers of beef imports to the U.S., together comprising 69% of total imports. New Zealand, Nicaragua, Uruguay and Argentina lagged somewhat behind, accounting for a further 27%.

In value terms, the largest beef suppliers to the U.S. were Canada ($1.7B), Australia ($1.5B) and Mexico ($1.4B), with a combined 71% share of total imports. These countries were followed by New Zealand, Nicaragua, Uruguay and Argentina, which together accounted for a further 25%.

In 2020, the average beef import price amounted to $5,996 per tonne, increasing by 4.9% against the previous year. Over the last eight years, it increased at an average annual rate of +2.6%. The growth pace was the most rapid in 2014, an increase of 15% year-to-year.

Average prices varied somewhat amongst the major supplying countries. In 2020, the highest prices were recorded for prices from Australia ($6,912 per tonne) and Uruguay ($6,480 per tonne), while the price for Nicaragua ($4,952 per tonne) and Argentina ($5,340 per tonne) was amongst the lowest.

Source: IndexBox AI Platform

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Asia’s Beef Market 2020 – Positive Outlook for China, Negative Expectations for India

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IndexBox has just published a new report: ‘Asia – Beef (Cattle Meat) – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

The coronavirus pandemic continues to negatively impact the Asian beef market, holding back production and international trade. However, it can be predicted that the strength of the impact will depend on how quickly countries return to normalcy. In China, which was the first to recover from the pandemic, positive dynamics are expected in the second half of the year. In contrast, India, the second-largest beef producer after China, will face significant losses in production and exports.

The expected increase in China’s beef production is driven by rising cattle herds, particularly on large farms, and strong domestic demand to offset the ongoing pork shortage. In addition, China will continue to increase its imports, fueled by new accreditations granted to meatpacking plants in Brazil, Argentina, and Uruguay, as well as new trade agreements with these countries.

In India, cattle production may be reduced due to a pandemic shutdown, especially since collection of animals is usually carried out in the form of home visits. Given that most of the production is destined for foreign markets, slowing economic growth in many countries could further undermine the Indian cattle sector.

Import growth is likely to slow in almost all other Asian markets, as widespread recession restricts consumption in middle- and low-income households, while restrictions and physical distancing reduce restaurant turnover, dampening demand for high-quality meat products.

Beef Consumption by Country in Asia

China (7.5M tonnes) continues to be the largest cattle meat market in Asia, accounting for 35% of the total volume. Moreover, beef consumption in China exceeded the figures recorded by the second-largest consumer, Pakistan (1.9M tonnes), fourfold. India (1.5M tonnes) ranked third in terms of total consumption with a 7.1% share.

From 2009 to 2019, the average annual growth rate of beef consumption in Сhina was +1.5%. Pakistan enjoys the highest growth (+3.2% per year), while India suffers from decreasing demand (-2.8% per year).

In value terms, China ($93.3B) led the market, alone. The second position in the ranking was occupied by Turkey ($7.5B). It was followed by Pakistan.

The countries with the highest levels of beef per capita consumption in 2019 were Uzbekistan (29 kg per person), Kazakhstan (27 kg per person), and South Korea (14 kg per person).

From 2009 to 2019, the biggest increases were in Turkey, while beef per capita consumption for the other leaders experienced more modest paces of growth.

Production in Asia

In 2019, Asia’s production of cattle meat expanded modestly to 19M tonnes, with an increase of 2% on the previous year’s figure. The total output volume increased at an average annual rate of +1.7% from 2009 to 2019; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2010 when the production volume increased by 3.8% y-o-y. Over the period under review, production reached the peak volume in 2019 and is likely to continue growing in the immediate term. The generally positive trend in terms output was largely conditioned by a mild increase in the number of producing animals and a relatively flat trend pattern in yield figures.

Production by Country in Asia

China (6.5M tonnes) is the largest cattle meat producer in the region, accounting for 34% of the total output. Moreover, beef production in China exceeded the figures recorded by the second-largest producer, India (2.6M tonnes), twofold. Pakistan (2M tonnes) ranked third in terms of total production with an 11% share.

In China, beef production was relatively stable over the past decade. The remaining producing countries recorded the following average annual rates of production growth: India (+0.6% per year) and Pakistan (+3.4% per year).

Producing Animals in Asia

In 2019, the number of animals slaughtered for beef production in Asia reached 116M heads, standing approx. at 2018. This number increased at an average annual rate of +1.1% from 2009 to 2019. The pace of growth appeared the most rapid in 2010 when the number of producing animals increased by 2.9% year-to-year. Over the period under review, this number hit record highs in 2019 and is expected to retain growth in the near future.

Exports in Asia

In 2019, the amount of cattle meat exported in Asia totaled 1.3M tonnes, approximately equating 2018. In general, exports continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2011 when exports increased by 67% against the previous year. Over the period under review, exports hit record highs at 1.7M tonnes in 2013; however, from 2014 to 2019, exports remained at a lower figure.

In value terms, beef exports declined to $4.1B (IndexBox estimates) in 2019.

Exports by Country

India dominates beef trade, accounting for 1.1M tonnes, which was near 85% of total Asian exports in 2019. Hong Kong (84K tonnes) held a 6.6% share (based on tonnes) of total exports, which put it in second place, followed by Pakistan (4.5%).

From 2009 to 2019, the average annual rates of growth with regard to beef exports from India stood at +9.5%. At the same time, Pakistan (+9.8%) and Hong Kong  (+8.1%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing exporter exported in Asia, with a CAGR of +9.8% from 2009-2019. While the share of India (+51 p.p.), Hong Kong  (+3.6 p.p.) and Pakistan (+2.8 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($3.1B) remains the largest beef supplier in Asia, comprising 77% of total exports. The second position in the ranking was occupied by Hong Kong  ($289M), with a 7.1% share of total exports.

In India, beef exports expanded at an average annual rate of +12.0% over the period from 2009-2019. The remaining exporting countries recorded the following average annual rates of export growth: Hong Kong  (+10.9% per year) and Pakistan (+15.2% per year).

Export Prices by Country

The beef export price in Asia stood at $3,158 per tonne in 2019, falling by -4.5% against the previous year. Over the period from 2009 to 2019, it increased at an average annual rate of +2.6%. The most prominent rate of growth was recorded in 2011 when the export price increased by 21% year-to-year. The level of export peaked at $3,306 per tonne in 2018 and then shrank in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2019, the country with the highest price was Pakistan ($3,815 per tonne), while India ($2,831 per tonne) was amongst the lowest.

From 2009 to 2019, the most notable rate of growth in terms of prices was attained by Pakistan, while the other leaders experienced more modest paces of growth.

Imports in Asia

In 2019, purchases abroad of cattle meat decreased by -12.7% to 3.9M tonnes for the first time since 2008, thus ending a ten-year rising trend.

In value terms, beef imports contracted to $19.9B (IndexBox estimates) in 2019. In general, imports, however, enjoyed prominent growth. The most prominent rate of growth was recorded in 2010 when imports increased by 22% y-o-y. Over the period under review, imports attained the maximum at $21.3B in 2018 and then shrank in the following year.

Imports by Country

In 2019, China (1.1M tonnes), distantly followed by Japan (617K tonnes), South Korea (444K tonnes), and Hong Kong  (365K tonnes) were the major importers of cattle meat, together committing 63% of total imports. The following importers – Malaysia (147K tonnes), Indonesia (141K tonnes), Taiwan (137K tonnes), the United Arab Emirates (133K tonnes), the Philippines (125K tonnes), Iran (119K tonnes), Israel (114K tonnes) and Saudi Arabia (86K tonnes) – together made up 25% of total imports.

From 2009 to 2019, the biggest increases were in China, while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest beef importing markets in Asia were China ($5B), Japan ($3.5B), and South Korea ($2.9B), with a combined 57% share of total imports.

Import Prices by Country

The beef import price in Asia stood at $5,039 per tonne in 2019, rising by 6.9% against the previous year.

Prices varied noticeably by the country of destination; the country with the highest price was Taiwan ($7,898 per tonne), while Malaysia ($3,172 per tonne) was amongst the lowest.

From 2009 to 2019, the most notable rate of growth in terms of prices was attained by South Korea, while the other leaders experienced more modest paces of growth.

Source: IndexBox AI Platform

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Global Grape Market 2019 – China Emerges as the Largest Consumer, with the Highest Growth Rate over the Last Decade

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IndexBox has just published a new report: ‘World – Grape – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

The global grape market revenue amounted to $136.6B in 2018, going up by 3.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price). The market value increased at an average annual rate of +2.2% over the period from 2007 to 2018; the trend pattern remained relatively stable, with only minor fluctuations being recorded over the period under review. The pace of growth was the most pronounced in 2011 with an increase of 10% against the previous year. Over the period under review, the global grape market attained its maximum level in 2018 and is likely to see steady growth in the near future.

Consumption By Country

China (14M tonnes) remains the largest grape consuming country worldwide, accounting for 19% of total consumption. Moreover, grape consumption in China exceeded the figures recorded by the world’s second-largest consumer, the U.S. (6.9M tonnes), twofold. The third position in this ranking was occupied by Italy (6.7M tonnes), with a 8.9% share.

In China, grape consumption increased at an average annual rate of +7.1% over the period from 2007-2018. The remaining consuming countries recorded the following average annual rates of consumption growth: the U.S. (+0.4% per year) and Italy (-0.3% per year).

In value terms, China ($21.3B), the U.S. ($15.1B) and France ($13.9B) constituted the countries with the highest levels of market value in 2018, with a combined 37% share of the global market.

China recorded the highest growth rate of the grape market, in terms of the main consuming countries over the last eleven-year period, while the other global leaders experienced more modest paces of growth.

The countries with the highest levels of grape per capita consumption in 2018 were Italy (113 kg per person), Spain (113 kg per person) and France (92 kg per person).

From 2007 to 2018, the most notable rate of growth in terms of grape per capita consumption, amongst the main consuming countries, was attained by China, while the other global leaders experienced more modest paces of growth.

Market Forecast 2019-2025

Driven by increasing demand for grape worldwide, the market is expected to continue an upward consumption trend over the next seven-year period. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +1.3% for the seven-year period from 2018 to 2025, which is projected to bring the market volume to 83M tonnes by the end of 2025.

Production 2007-2018

In 2018, the global grape production totaled 76M tonnes, picking up by 1.9% against the previous year. The total output volume increased at an average annual rate of +1.4% over the period from 2007 to 2018; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 7.7% year-to-year. Global grape production peaked at 76M tonnes in 2015; however, from 2016 to 2018, production stood at a somewhat lower figure. The general positive trend in terms of grape output was largely conditioned by a mild increase of the harvested area and a modest expansion in yield figures.

In value terms, grape production stood at $136.6B in 2018 estimated in export prices.

Production By Country

The countries with the highest volumes of grape production in 2018 were China (14M tonnes), Italy (7.1M tonnes) and the U.S. (6.7M tonnes), with a combined 37% share of the global output.

From 2007 to 2018, the most notable rate of growth in terms of  grape production, amongst the main producing countries, was attained by China, while the other global leaders experienced more modest paces of growth.

Harvested Area 2007-2018

Global grape harvested area totaled 6.9M ha in 2018, flattening at the previous year. In general, grape harvested area, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 1.8% year-to-year. Over the period under review, the harvested area dedicated to grape production attained its maximum at 7.2M ha in 2007; however, from 2008 to 2018, harvested area failed to regain its momentum.

Yield 2007-2018

In 2018, the global average grape yield amounted to 11 tonne per ha, going up by 1.8% against the previous year. The yield figure increased at an average annual rate of +1.7% from 2007 to 2018; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of 5.9% year-to-year. Global grape yield peaked in 2018 and is expected to retain its growth in the immediate term.

Exports 2007-2018

In 2018, approx. 4.6M tonnes of grapes were exported worldwide; jumping by 2.9% against the previous year. The total export volume increased at an average annual rate of +2.0% over the period from 2007 to 2018; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2011 with an increase of 5.9% against the previous year. Global exports peaked in 2018 and are expected to retain its growth in the immediate term.

In value terms, grape exports amounted to $8.2B in 2018. The total export value increased at an average annual rate of +2.5% from 2007 to 2018; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed over the period under review. The growth pace was the most rapid in 2011 when Exports increased by 14% year-to-year. Global exports peaked in 2018 and are likely to see steady growth in the immediate term.

Exports by Country

In 2018, Chile (727K tonnes), followed by Italy (462K tonnes), the U.S. (420K tonnes), Peru (343K tonnes), South Africa (324K tonnes) and the Netherlands (289K tonnes) were the largest exporters of grapes, together making up 56% of total exports. The following exporters – China, Hong Kong SAR (201K tonnes), China (190K tonnes), Afghanistan (176K tonnes), India (172K tonnes), Turkey (166K tonnes) and Spain (161K tonnes) – each recorded a 23% 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 Afghanistan, while the other global leaders experienced more modest paces of growth.

In value terms, the largest grape markets worldwide were Chile ($1.2B), the U.S. ($925M) and Peru ($820M), together accounting for 36% of global exports.

Among the main exporting countries, Peru recorded the highest growth rate of exports, over the last eleven years, while the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2018, the average grape export price amounted to $1,806 per tonne, rising by 2.8% against the previous year. Overall, the grape export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2011 an increase of 7.8% against the previous year. Global export price peaked at $1,915 per tonne in 2014; however, from 2015 to 2018, export prices remained at a lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was the Netherlands ($2,706 per tonne), while Afghanistan ($595 per tonne) was amongst the lowest.

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

Imports 2007-2018

In 2018, the amount of grapes imported worldwide totaled 4.5M tonnes, picking up by 3.4% against the previous year. The total import volume increased at an average annual rate of +2.3% over the period from 2007 to 2018; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2011 when Imports increased by 12% y-o-y. Global imports peaked in 2018 and are expected to retain its growth in the immediate term.

In value terms, grape imports totaled $8.5B in 2018. The total import value increased at an average annual rate of +3.2% over the period from 2007 to 2018; the trend pattern indicated some noticeable fluctuations being recorded over the period under review. The growth pace was the most rapid in 2008 with an increase of 13% against the previous year. Over the period under review, global grape imports attained their peak figure in 2018 and are expected to retain its growth in the near future.

Imports by Country

In 2018, the U.S. (587K tonnes), China (393K tonnes), the Netherlands (386K tonnes), Germany (315K tonnes), Russia (296K tonnes), the UK (273K tonnes), China, Hong Kong SAR (238K tonnes), Canada (185K tonnes), Thailand (176K tonnes), France (118K tonnes), Poland (115K tonnes) and Mexico (97K tonnes) were the largest importers of grapes in the world, creating 71% 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 China, while the other global leaders experienced more modest paces of growth.

In value terms, the U.S. ($1B), Germany ($750M) and China ($743M) appeared to be the countries with the highest levels of imports in 2018, with a combined 30% share of global imports.

China experienced the highest rates of growth with regard to imports, among the main importing countries over the last eleven-year period, while the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average grape import price stood at $1,905 per tonne in 2018, flattening at the previous year. Over the period under review, the grape import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2012 when the average import price increased by 11% year-to-year. In that year, the average import prices for grapes attained their peak level of $1,999 per tonne. From 2013 to 2018, the growth in terms of the average import prices for grapes remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was the UK ($2,535 per tonne), while Russia ($1,094 per tonne) was amongst the lowest.

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

Source: IndexBox AI Platform

Archives, Global Trade Daily, Imports/Exports

Global Beef Market 2019 – Rising Demand In China Boosts Imports Up, Securing New Opportunities For Foreign Suppliers

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IndexBox has just published a new report: ‘World – Beef (Cattle Meat) – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

The global beef market revenue amounted to $385.7B in 2018, growing by 5.1% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price). The market value increased at an average annual rate of +3.2% over the period from 2007 to 2018; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2008 with an increase of 11% year-to-year. Global beef consumption peaked in 2018 and is expected to retain its growth in the near future.

Production 2007-2018

In 2018, approx. 70M tonnes of beef (cattle meat) were produced worldwide; flattening at the previous year. In general, beef production continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when Production Volume increased by 1.8% against the previous year. Over the period under review, global beef production reached its peak figure volume in 2018 and is likely to continue its growth in the immediate term. The general positive trend in terms of beef output was largely conditioned by a relatively flat trend pattern of the number of producing animals and a relatively flat trend pattern in yield figures.

In value terms, beef production stood at $392.3B in 2018 estimated in export prices. The total output value increased at an average annual rate of +4.3% over the period from 2007 to 2018; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2008 with an increase of 19% y-o-y. Global beef production peaked in 2018 and is likely to see steady growth in the immediate term.

Exports 2007-2018

In 2018, approx. 8.1M tonnes of beef (cattle meat) were exported worldwide; approximately equating the previous year. The total export volume increased at an average annual rate of +1.6% over the period from 2007 to 2018; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 10% against the previous year. Over the period under review, global beef exports attained their peak figure at 8.2M tonnes in 2014; however, from 2015 to 2018, exports failed to regain their momentum.

In value terms, beef exports amounted to $40.7B in 2018. In general, the total exports indicated a resilient increase from 2007 to 2018: its value increased at an average annual rate of +1.6% over the last eleven year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, the beef exports increased by +6.0% against 2016 indices. The growth pace was the most rapid in 2008 with an increase of 18% against the previous year. Over the period under review, global beef exports attained their maximum at $44.1B in 2014; however, from 2015 to 2018, exports stood at a somewhat lower figure.

Exports by Country

In 2018, Brazil (1.3M tonnes), followed by Australia (857K tonnes), the U.S. (691K tonnes), New Zealand (436K tonnes), Ireland (410K tonnes), the Netherlands (383K tonnes) and Argentina (367K tonnes) were the major exporters of beef (cattle meat), together mixing up 55% of total exports. Canada (345K tonnes), India (337K tonnes), Poland (325K tonnes), Uruguay (283K tonnes) and Germany (266K tonnes) 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 Poland, while the other global leaders experienced more modest paces of growth.

In value terms, the largest beef markets worldwide were Brazil ($5.3B), the U.S. ($4.8B) and Australia ($4.7B), together comprising 36% of global exports. Ireland, the Netherlands, New Zealand, Argentina, Canada, Uruguay, Poland, Germany and India lagged somewhat behind, together comprising a further 40%.

In terms of the main exporting countries, Poland experienced the highest rates of growth with regard to exports, over the last eleven year period, while the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2018, the average beef export price amounted to $5,052 per tonne, leveling off at the previous year. Over the period from 2007 to 2018, it increased at an average annual rate of +2.3%. The pace of growth was the most pronounced in 2008 when the average export price increased by 20% year-to-year. Over the period under review, the average export prices for beef (cattle meat) attained their maximum at $5,370 per tonne in 2014; however, from 2015 to 2018, export prices remained at a lower figure.

There were significant differences in the average Export Price prices amongst the major exporting countries. In 2018, the country with the highest Export Price price was the U.S. ($6,894 per tonne), while India ($3,448 per tonne) was amongst the lowest.

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

Imports 2007-2018

In 2018, the global imports of beef (cattle meat) stood at 9.5M tonnes, increasing by 4.3% against the previous year. The total import volume increased at an average annual rate of +2.3% over the period from 2007 to 2018; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 7.4% year-to-year. Global imports peaked in 2018 and are expected to retain its growth in the near future.

In value terms, beef imports totaled $47.3B in 2018. Overall, the total imports indicated a remarkable increase from 2007 to 2018: its value increased at an average annual rate of +2.3% over the last eleven year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, the beef imports increased by +15.4% against 2016 indices. The most prominent rate of growth was recorded in 2011 when Imports increased by 16% year-to-year. Over the period under review, global beef imports reached their maximum in 2018 and are expected to retain its growth in the immediate term.

Imports by Country

In 2018, China (1M tonnes), the U.S. (912K tonnes), Viet Nam (619K tonnes), Japan (610K tonnes), South Korea (442K tonnes), China, Hong Kong SAR (439K tonnes), Italy (386K tonnes), Germany (367K tonnes), Russia (359K tonnes), the Netherlands (356K tonnes), the UK (294K tonnes) and France (247K tonnes) represented the largest importers of beef (cattle meat) in the world, mixing up 64% 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 China, while the other global leaders experienced more modest paces of growth.

In value terms, the largest beef importing markets worldwide were the U.S. ($5B), China ($4.7B) and Japan ($3.5B), together accounting for 28% of global imports.

China recorded the highest growth rate of imports, in terms of the main importing countries over the last eleven years, while the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2018, the average beef import price amounted to $4,996 per tonne, increasing by 2.2% against the previous year. Over the period from 2007 to 2018, it increased at an average annual rate of +2.3%. The pace of growth appeared the most rapid in 2008 an increase of 18% year-to-year. Global import price peaked at $5,104 per tonne in 2014; however, from 2015 to 2018, import prices failed to regain their momentum.

There were significant differences in the average Import Price prices amongst the major importing countries. In 2018, the country with the highest Import Price price was South Korea ($6,415 per tonne), while Viet Nam ($3,258 per tonne) was amongst the lowest.

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

Source: IndexBox AI Platform

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WTO Slams US ‘COOL’ Meat Import Labeling Rules

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Los Angeles, CA – Canada and Mexico are lauding a finding by the World Trade Organization that the US has failed to bring its Country of Origin Labeling (COOL) meat labeling regulations fully in line with international fair trading rules.

In a joint statement, the governments of Canada and Mexico issued a statement saying, “The WTO has confirmed once again what we have known all along: that the United States’ mandatory COOL requirement for beef and pork is a blatant breach of its international obligations as a member of the WTO.”

The WTO ruling, the statement said, “provides an opportunity for the U.S. to cease this harm and to comply with its international obligations.”

COOL rules require retailers such as grocery stores and meat markets to list the country of origin on the products they sell.

The WTO ruled in June 2012 that the COOL program “unfairly discriminated” against Canadian and Mexican beef and pork imports because it gave “less favorable treatment” to those products than that given US-produced beef and pork in violation of WTO rules.

The US responded, saying that it had met a deadline to change the rules, but Canada and Mexico said it had not done enough.

Unless the revised COOL rules are given the all-clear by the WTO’s Appellate Body, both Mexico and Canada can ask the trade body to let them impose trade sanctions on the US.

US pork producers have urged Congress and the administration to fix the rules and avoid “financially devastating” retaliation, while several other groups including the US Chamber of Commerce, the National Association of Manufacturers, farmer cooperatives and corn refiners said the offending sections should be immediately rescinded.

“The WTO dispute panel on the US Country of Origin Labeling rule brings us all one step closer to facing retaliatory tariffs from two of our largest trading partners,” said National Cattlemen’s Beef Association President Bob McCan.

Canada and Mexico said they “remain extremely disappointed that the United States has continued, to date, to attempt to defend this clearly protectionist policy, which harms trade with the United States’ largest export markets and also hurts domestic US livestock producers and meat processors and retailers.”

10/22/2014