Beef and buffalo meat market in South-eastern Asia

Earlier Report Observations

The beef and buffalo meat market in South-eastern Asia expanded from 2.0 million tonnes in 2018 to 2.3 million tonnes in 2023. Initial growth was supported by strong domestic demand in Indonesia, particularly during religious holidays, where local production met only 58% of needs, necessitating sustained imports to fill the gap. Development of quality beef segments in Thailand also contributed to market activity.

The COVID-19 pandemic in 2020 temporarily reversed this trend, causing supply chain disruptions and reduced consumption in Vietnam, which led to a market contraction. Recovery began in 2021, aided by a shift in herd composition in Vietnam and continued import reliance. By 2022, consumption in Indonesia reached its highest level in a decade, pushing the market volume above 2.2 million tonnes.

Market growth continued in 2023, driven by increased imports of frozen meat into Vietnam, where Australian beef captured a 70% market share, pressuring domestic producers. This period also saw market challenges such as the adulteration of buffalo meat to resemble premium beef in Vietnam, reflecting competitive pressures and quality concerns within the region's supply.

Production beef and buffalo meat in South-eastern Asia

In kind, 2017-2020, K t

Top producers of beef and buffalo meat, 2017-2020

World map of production of beef and buffalo meat, 2017-2020

In 2020, South-eastern Asia produced 1 407 K t of beef and buffalo meat, marking a 6.4% decrease from the previous year. Over the period from 2017 to 2020, production fell by 22.7%, with an average annual decline of 8.2%. The most significant drop occurred in 2018, at 18.5%, while 2019 saw a slight increase of 1.3%.

Annual dynamics of production in South-eastern Asia in kind, 2017-2020, K t

In value, 2017-2020, M $ US

Following two years of decline, beef and buffalo meat production in South-eastern Asia rebounded in 2020, with output valued at 7 009 M $ US, a 7.6% increase from the previous year. From 2017 to 2020, overall production decreased by 25.8%, translating to an annualized rate of 9.4%. The lowest value was recorded in 2019 at 6 514 M $ US, and the largest decline occurred in 2018, at 21.4%.

Annual dynamics of production in South-eastern Asia in value, 2017-2020, M $ US

Exports beef and buffalo meat from South-eastern Asia

Exports in kind, K t

Beef and buffalo meat exports from South-eastern Asia declined for the third consecutive year in 2020, totaling 6.9 K t, an 8.0% decrease year-over-year. Between 2017 and 2020, exports fell by 45.2%, with an average annual decline of 18.2%.

Annual dynamics of product's exports from South-eastern Asia in kind, 2017-2020, K t

From 2017 to 2020, the main destinations for beef and buffalo meat exports in kind from South-eastern Asia were China, accounting for 5.9% of exports, Hong Kong at 1.7%, and Australia at 0.8%. Together, these three markets represented 8.4% of total export flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from South-eastern Asia in kind, 2017-2020

Exports in value, M $ US

After two years of decline, beef and buffalo meat exports from South-eastern Asia increased in 2020, reaching 35 M $ US, a 5.8% rise compared to the previous year. Over the 2017-2020 period, exports decreased by 47.4%, with an average annual decline of 19.3%. The lowest value was recorded in 2019 at 33 M $ US, which also saw the largest decline of 34.9%.

Annual dynamics of product's exports from South-eastern Asia in value, 2017-2020, M $ US

Between 2017 and 2020, beef and buffalo meat exports in value terms were distributed across a wide range of partner countries. China led with 10.9% of exports, followed by Maldives at 2.6%, and Australia at 1.9%. Collectively, these three countries accounted for 15.5% of total export flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from South-eastern Asia in value, 2017-2020

Imports beef and buffalo meat to South-eastern Asia

Imports in kind, K t

Beef and buffalo meat imports into South-eastern Asia increased for the third consecutive year in 2020, reaching 586.2 K t, with no significant change from the previous year. From 2017 to 2020, imports grew by 22.1%, equating to an average annual increase of 6.9%.

Annual dynamics of product's imports to South-eastern Asia in kind, 2017-2020, K t

Throughout 2017-2020, India was the dominant source for beef and buffalo meat imports in kind into South-eastern Asia, accounting for 48.5% of imports, followed by Australia at 25.4%, and Brazil at 9.8%. Together, these three countries represented 83.6% of total import flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to South-eastern Asia in kind, 2017-2020

Imports in value, M $ US

Beef and buffalo meat imports into South-eastern Asia rose for the third consecutive year in 2020, standing at 2 289 M $ US, a modest 5.8% increase from the previous year. Between 2017 and 2020, imports increased by 22.4%, with an average annual growth rate of 7.0%.

Annual dynamics of product's imports to South-eastern Asia in value, 2017-2020, M $ US

From 2017 to 2020, India was the leading source for beef and buffalo meat imports in value terms into South-eastern Asia, comprising 43.2% of imports, followed by Australia at 28.4%, and the United States at 9.1%. These three countries jointly accounted for 80.7% of total import flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to South-eastern Asia in value, 2017-2020