Red meat price trends monitor: June 2024

Estimated reading time: 2 minutes

April 2024 has recorded a significant surge in bovine meat imports. A total of 2 056 tons were imported, marking a staggering 182% increase compared to the same period last year. The Free on Board (FOB) price also increased to R54,50 per kilogram, up by 27% from April 2023.

Namibia emerged as the primary source for these imports, contributing 283 tons. However, it is important to highlight that a substantial portion, amounting to 1 698 tons, was classified as ‘in-transit’ and will not enter the South African market.

The importation of live weaners also showed growth, with 26 637 units brought in, indicating a modest 1,4% increase from last year. Despite the rise in volume, the price per unit has decreased by 3%, now standing at R6 715,56.

Shifting focus to sheep meat, the imports reached 678 tons, a 119% increase compared to April 2023. Interestingly, the FOB price for sheep meat has decreased by 18%, now at R29,96/kg.

Australia was the leading exporter of sheep meat to South Africa, with 430 tons. In terms of live sheep imports, there was a 10% increase from the previous year, totaling 87,396 units. Namibia was the predominant exporter, accounting for all the live sheep imports. The price per unit for live sheep stood at R1 115,69, which is 7,5% lower than the price in April 2023.

These figures reflect a dynamic shift in the meat import sector, with significant implications for local markets and international trade relations.

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