Price for Fresh or Chilled Boneless Cuts of Bovine Meat in Latvia - 2023
Contents:
- Price for Fresh or Chilled Boneless Cuts of Bovine Meat in Latvia (CIF) - 2023
- Price for Fresh or Chilled Boneless Cuts of Bovine Meat in Latvia (FOB) - 2023
- Imports of Fresh or Chilled Boneless Cuts of Bovine Meat in Latvia
- Exports of Fresh or Chilled Boneless Cuts of Bovine Meat in Latvia
Price for Fresh or Chilled Boneless Cuts of Bovine Meat in Latvia (CIF) - 2023
The average import price for fresh or chilled boneless cuts of bovine meat stood at $8,688 per ton in October 2023, remaining relatively unchanged against the previous month. In general, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in April 2023 an increase of 17% month-to-month. The import price peaked at $9,901 per ton in July 2023; however, from August 2023 to October 2023, import prices stood at a somewhat lower figure.
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 ($18,592 per ton), while the price for Estonia ($5,819 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 (+1.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Fresh or Chilled Boneless Cuts of Bovine Meat in Latvia (FOB) - 2023
In October 2023, the average export price for fresh or chilled boneless cuts of bovine meat amounted to $5,072 per ton, standing approximately at the previous month. Over the period from October 2022 to October 2023, it increased at an average monthly rate of +1.5%. The pace of growth was the most pronounced in November 2022 an increase of 7.9% month-to-month. The export price peaked at $5,500 per ton in August 2023; however, from September 2023 to October 2023, the export prices failed to regain momentum.
Prices varied noticeably by the country of destination: the country with the highest price was Lithuania ($9,417 per ton), while the average price for exports to the Netherlands ($4,472 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 Lithuania (+2.6%), 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 Latvia
In 2022, the amount of fresh or chilled boneless cuts of bovine meat imported into Latvia stood at 1.6K tons, with an increase of 3.5% compared with the previous year. The total import volume increased at an average annual rate of +5.7% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 21%. Imports peaked in 2022 and are likely to continue growth in the immediate term.
In value terms, imports of fresh or chilled boneless cuts of bovine meat soared to $12M in 2022. Overall, total imports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +17.2% 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 +74.5% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Fresh or Chilled Boneless Cuts of Bovine Meat in Latvia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Lithuania | 2.2 | 2.5 | 3.3 | 4.4 | 26.0% |
| Poland | 0.4 | 1.4 | 1.8 | 3.2 | 100.0% |
| Netherlands | 1.5 | 0.9 | 1.8 | 2.6 | 20.1% |
| Estonia | 1.7 | 1.5 | 1.4 | 1.5 | -4.1% |
| Denmark | N/A | 0.1 | 0.3 | 0.1 | 0.0% |
| Spain | 1.0 | N/A | N/A | N/A | 0% |
| Others | 1.0 | 0.8 | 0.3 | 0.7 | -11.2% |
| Total | 7.7 | 7.1 | 8.9 | 12.4 | 17.2% |
Top Suppliers of Fresh or Chilled Boneless Cuts of Bovine Meat to Latvia in 2022:
- Lithuania (670.5 tons)
- Poland (428.6 tons)
- Estonia (250.4 tons)
- Netherlands (139.6 tons)
- Denmark (40.2 tons)
Exports of Fresh or Chilled Boneless Cuts of Bovine Meat in Latvia
After three years of growth, overseas shipments of fresh or chilled boneless cuts of bovine meat decreased by -27.5% to 2.1K tons in 2022. Over the period under review, exports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 133% against the previous year.
In value terms, exports of fresh or chilled boneless cuts of bovine meat contracted remarkably to $11M in 2022. Overall, exports, however, enjoyed a significant increase. The pace of growth was the most pronounced in 2021 when exports increased by 110% against the previous year. As a result, the exports reached the peak of $13M, and then fell rapidly in the following year.
| Export of Fresh or Chilled Boneless Cuts of Bovine Meat in Latvia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | N/A | 0.8 | 6.3 | 4.4 | 134.5% |
| Finland | 1.2 | 2.8 | 3.2 | 2.2 | 22.4% |
| Estonia | 1.0 | 1.3 | 1.0 | 2.1 | 28.1% |
| Lithuania | 1.1 | 0.8 | 1.5 | 1.8 | 17.8% |
| Others | 0.3 | 0.3 | 0.6 | 0.2 | -12.6% |
| Total | 3.6 | 6.1 | 12.7 | 10.7 | 43.8% |
Top Export Markets for Fresh or Chilled Boneless Cuts of Bovine Meat from Latvia in 2022:
- Netherlands (1023.0 tons)
- Finland (526.5 tons)
- Estonia (319.0 tons)
- Lithuania (157.0 tons)
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