Price for Fresh or Chilled Boneless Cuts of Bovine Meat in Estonia - 2023
Contents:
- Price for Fresh or Chilled Boneless Cuts of Bovine Meat in Estonia (CIF) - 2023
- Price for Fresh or Chilled Boneless Cuts of Bovine Meat in Estonia (FOB) - 2023
- Imports of Fresh or Chilled Boneless Cuts of Bovine Meat in Estonia
- Exports of Fresh or Chilled Boneless Cuts of Bovine Meat in Estonia
Price for Fresh or Chilled Boneless Cuts of Bovine Meat in Estonia (CIF) - 2023
The average import price for fresh or chilled boneless cuts of bovine meat stood at $9,359 per ton in October 2023, standing approximately at the previous month. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in March 2023 an increase of 24% m-o-m. The import price peaked at $11,794 per ton in July 2023; however, from August 2023 to October 2023, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In October 2023, the country with the highest price was the Netherlands ($20,132 per ton), while the price for Latvia ($6,903 per ton) was amongst the lowest.
From October 2022 to October 2023, the most notable rate of growth in terms of prices was attained by Poland (+2.4%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Fresh or Chilled Boneless Cuts of Bovine Meat in Estonia (FOB) - 2023
The average export price for fresh or chilled boneless cuts of bovine meat stood at $7,276 per ton in October 2023, growing by 43% against the previous month. In general, export price indicated a perceptible increase from October 2022 to October 2023: its price increased at an average monthly rate of +2.1% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on October 2023 figures, export price for fresh or chilled boneless cuts of bovine meat decreased by -22.2% against August 2023 indices. The pace of growth appeared the most rapid in August 2023 when the average export price increased by 71% against the previous month. As a result, the export price attained the peak level of $9,347 per ton. From September 2023 to October 2023, the the average export prices remained at a somewhat lower figure.
There were significant differences in the average prices for the major external markets. In October 2023, the country with the highest price was Switzerland ($33,176 per ton), while the average price for exports to Latvia ($6,124 per ton) was amongst the lowest.
From October 2022 to October 2023, the most notable rate of growth in terms of prices was recorded for supplies to Sweden (+3.6%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Fresh or Chilled Boneless Cuts of Bovine Meat in Estonia
In 2022, imports of fresh or chilled boneless cuts of bovine meat into Estonia dropped rapidly to 797 tons, waning by -19.2% compared with the previous year's figure. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 49%. As a result, imports reached the peak of 986 tons, and then reduced markedly in the following year.
In value terms, imports of fresh or chilled boneless cuts of bovine meat expanded notably to $7M in 2022. In general, total imports indicated resilient growth from 2019 to 2022: its value increased at an average annual rate of +7.6% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +67.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 51%. Over the period under review, imports of attained the peak figure in 2022 and are likely to see gradual growth in the immediate term.
| Import of Fresh or Chilled Boneless Cuts of Bovine Meat in Estonia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Poland | 1,836 | 1,693 | 2,066 | 1,925 | 1.6% |
| Lithuania | 1,121 | 851 | 1,953 | 1,393 | 7.5% |
| Netherlands | 292 | 834 | 1,018 | 1,309 | 64.9% |
| Latvia | 59.7 | 318 | 337 | 1,219 | 173.3% |
| Finland | 32.5 | 328 | 507 | 655 | 172.1% |
| Germany | 169 | 22.8 | 200 | 334 | 25.5% |
| Others | 2,097 | 124 | 211 | 147 | -58.8% |
| Total | 5,607 | 4,171 | 6,291 | 6,983 | 7.6% |
Top Suppliers of Fresh or Chilled Boneless Cuts of Bovine Meat to Estonia in 2022:
- Poland (264.1 tons)
- Lithuania (200.0 tons)
- Latvia (158.0 tons)
- Netherlands (60.2 tons)
- Germany (56.7 tons)
- Finland (51.0 tons)
Exports of Fresh or Chilled Boneless Cuts of Bovine Meat in Estonia
In 2022, overseas shipments of fresh or chilled boneless cuts of bovine meat decreased by -22.6% to 896 tons for the first time since 2018, thus ending a three-year rising trend. Overall, total exports indicated a resilient expansion from 2019 to 2022: its volume increased at an average annual rate of +10.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +34.2% against 2019 indices. The pace of growth was the most pronounced in 2021 when exports increased by 43%. As a result, the exports reached the peak of 1.2K tons, and then declined sharply in the following year.
In value terms, exports of fresh or chilled boneless cuts of bovine meat declined to $5.2M in 2022. In general, total exports indicated buoyant growth from 2019 to 2022: its value increased at an average annual rate of +12.8% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +43.4% against 2019 indices. The growth pace was the most rapid in 2021 with an increase of 45%. As a result, the exports attained the peak of $6M, and then reduced in the following year.
| Export of Fresh or Chilled Boneless Cuts of Bovine Meat in Estonia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Finland | 1,040 | 1,188 | 2,474 | 2,190 | 28.2% |
| Latvia | 1,297 | 1,198 | 1,187 | 1,115 | -4.9% |
| Denmark | 991 | 848 | 705 | 711 | -10.5% |
| Germany | N/A | 658 | 1,123 | 580 | -6.1% |
| Sweden | 3.1 | 13.8 | 231 | 230 | 320.2% |
| Others | 267 | 212 | 234 | 333 | 7.6% |
| Total | 3,598 | 4,117 | 5,953 | 5,158 | 12.8% |
Top Export Markets for Fresh or Chilled Boneless Cuts of Bovine Meat from Estonia in 2022:
- Finland (434.8 tons)
- Latvia (190.1 tons)
- Denmark (119.5 tons)
- Germany (88.2 tons)
- Sweden (38.2 tons)
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