Price for Fresh or Chilled Carcasses and Half-Carcasses of Bovine Meat in Estonia - 2023

Contents:

1. Price for Fresh or Chilled Carcasses and Half-Carcasses of Bovine Meat in Estonia (FOB) - 2023
2. Price for Fresh or Chilled Carcasses and Half-Carcasses of Bovine Meat in Estonia (CIF) - 2023
3. Exports of Fresh or Chilled Carcasses and Half-Carcasses of Bovine Meat in Estonia
4. Imports of Fresh or Chilled Carcasses and Half-Carcasses of Bovine Meat in Estonia

Price for Fresh or Chilled Carcasses and Half-Carcasses of Bovine Meat in Estonia (FOB) - 2023

In October 2023, the average export price for fresh or chilled carcasses and half-carcasses of bovine meat amounted to $3,763 per ton, shrinking by -5% against the previous month. Overall, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in May 2023 an increase of 15% month-to-month. As a result, the export price attained the peak level of $4,520 per ton. From June 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 foreign markets. In October 2023, the country with the highest price was Latvia ($6,965 per ton), while the average price for exports to the Netherlands amounted to $3,468 per ton.

From October 2022 to October 2023, the most notable rate of growth in terms of prices was recorded for supplies to Latvia (+2.4%).

Price for Fresh or Chilled Carcasses and Half-Carcasses of Bovine Meat in Estonia (CIF) - 2023

The average import price for fresh or chilled carcasses and half-carcasses of bovine meat stood at $5,227 per ton in October 2023, surging by 17% against the previous month. Over the period from October 2022 to October 2023, it increased at an average monthly rate of +2.3%. The growth pace was the most rapid in March 2023 an increase of 36% month-to-month. Over the period under review, average import prices reached the peak figure in October 2023.

As there is only one major supplying country, the average price level is determined by prices for Lithuania.

From October 2022 to October 2023, the rate of growth in terms of prices for Latvia amounted to +1.0% per month.

Exports of Fresh or Chilled Carcasses and Half-Carcasses of Bovine Meat in Estonia

In 2022, exports of fresh or chilled carcasses and half-carcasses of bovine meat from Estonia skyrocketed to 456 tons, jumping by 36% against the previous year's figure. In general, total exports indicated significant growth from 2021 to 2022: its volume increased at an average annual rate of +36.2% over the last one-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, exports of fresh or chilled carcasses and half-carcasses of bovine meat soared to $1.9M in 2022. The total export value increased at an average annual rate of +33.1% over the period from 2021 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Top Export Markets for Fresh or Chilled Carcasses and Half-Carcasses of Bovine Meat from Estonia in 2022:

1. Netherlands (370.6 tons)
2. Latvia (73.9 tons)
3. Lithuania (9.3 tons)

Imports of Fresh or Chilled Carcasses and Half-Carcasses of Bovine Meat in Estonia

For the fourth year in a row, Estonia recorded growth in supplies from abroad of fresh or chilled carcasses and half-carcasses of bovine meat, which increased by 102% to 328 tons in 2022. Overall, imports posted a significant expansion. The growth pace was the most rapid in 2020 with an increase of 62,150% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, imports of fresh or chilled carcasses and half-carcasses of bovine meat surged to $1.4M in 2022. In general, imports continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2020 when imports increased by 67,271% against the previous year. Over the period under review, imports of reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Top Suppliers of Fresh or Chilled Carcasses and Half-Carcasses of Bovine Meat to Estonia in 2022:

1. Latvia (327.7 tons)

Source: IndexBox Market Intelligence Platform