Price for Fresh or Chilled Boneless Cuts of Bovine Meat in Lithuania - 2023

Contents:

1. Price for Fresh or Chilled Boneless Cuts of Bovine Meat in Lithuania (FOB) - 2023
2. Price for Fresh or Chilled Boneless Cuts of Bovine Meat in Lithuania (CIF) - 2023
3. Exports of Fresh or Chilled Boneless Cuts of Bovine Meat in Lithuania
4. Imports of Fresh or Chilled Boneless Cuts of Bovine Meat in Lithuania

Price for Fresh or Chilled Boneless Cuts of Bovine Meat in Lithuania (FOB) - 2023

In October 2023, the average export price for fresh or chilled boneless cuts of bovine meat amounted to $6,869 per ton, which is down by -2.3% against the previous month. Over the period under review, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in April 2023 an increase of 6.9% m-o-m. Over the period under review, the average export prices hit record highs at $7,715 per ton in June 2023; however, from July 2023 to October 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In October 2023, the country with the highest price was Latvia ($10,096 per ton), while the average price for exports to the Netherlands ($5,057 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 Latvia (+2.5%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Fresh or Chilled Boneless Cuts of Bovine Meat in Lithuania (CIF) - 2023

In October 2023, the average import price for fresh or chilled boneless cuts of bovine meat amounted to $10,176 per ton, reducing by -4% against the previous month. Overall, the import price continues to indicate a mild descent. The most prominent rate of growth was recorded in May 2023 an increase of 15% against the previous month. The import price peaked at $14,847 per ton in July 2023; however, from August 2023 to October 2023, import prices remained at a lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was Germany ($26,746 per ton), while the price for Estonia ($2,316 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 Germany (+2.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports of Fresh or Chilled Boneless Cuts of Bovine Meat in Lithuania

In 2022, after three years of growth, there was decline in overseas shipments of fresh or chilled boneless cuts of bovine meat, when their volume decreased by -4.3% to 6.1K tons. The total export volume increased at an average annual rate of +5.8% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 19%. As a result, the exports attained the peak of 6.3K tons, and then reduced modestly in the following year.

In value terms, exports of fresh or chilled boneless cuts of bovine meat rose remarkably to $40M in 2022. In general, total exports indicated buoyant growth from 2019 to 2022: its value increased at an average annual rate of +16.5% 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 +58.1% against 2019 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 30% against the previous year. The exports peaked in 2022 and are likely to see steady growth in years to come.

Top Export Markets for Fresh or Chilled Boneless Cuts of Bovine Meat from Lithuania in 2022:

1. Sweden (2785.7 tons)
2. Latvia (639.8 tons)
3. Croatia (553.0 tons)
4. Denmark (487.1 tons)
5. Estonia (377.8 tons)
6. Germany (267.8 tons)
7. Finland (260.2 tons)
8. Netherlands (150.9 tons)
9. Czech Republic (113.7 tons)
10. Poland (106.1 tons)
11. Slovenia (54.1 tons)
12. Greece (49.7 tons)

Imports of Fresh or Chilled Boneless Cuts of Bovine Meat in Lithuania

For the third consecutive year, Lithuania recorded decline in purchases abroad of fresh or chilled boneless cuts of bovine meat, which decreased by -18.1% to 459 tons in 2022. Over the period under review, imports recorded a deep downturn. The smallest decline of -3.8% was in 2021.

In value terms, imports of fresh or chilled boneless cuts of bovine meat rose sharply to $5.2M in 2022. Overall, total imports indicated buoyant growth from 2019 to 2022: its value increased at an average annual rate of +6.7% 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 +53.0% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 41% against the previous year. Over the period under review, imports of reached the maximum in 2022 and are likely to continue growth in the near future.

Top Suppliers of Fresh or Chilled Boneless Cuts of Bovine Meat to Lithuania in 2022:

1. Poland (189.6 tons)
2. Netherlands (100.8 tons)
3. Latvia (73.3 tons)
4. Denmark (30.6 tons)
5. Ireland (19.6 tons)
6. Estonia (14.5 tons)
7. Italy (13.8 tons)

Source: IndexBox Market Intelligence Platform