Price for Frozen Boneless Cuts of Bovine Meat in Latvia - 2023
Contents:
- Price for Frozen Boneless Cuts of Bovine Meat in Latvia (CIF) - 2023
- Price for Frozen Boneless Cuts of Bovine Meat in Latvia (FOB) - 2023
- Imports of Frozen Boneless Cuts of Bovine Meat in Latvia
- Exports of Frozen Boneless Cuts of Bovine Meat in Latvia
Price for Frozen Boneless Cuts of Bovine Meat in Latvia (CIF) - 2023
The average import price for frozen boneless cuts of bovine meat stood at $6,768 per ton in October 2023, with an increase of 9.4% against the previous month. Over the last twelve months, it increased at an average monthly rate of +1.5%. Over the period under review, average import prices reached the peak figure at $6,940 per ton in June 2023; however, from July 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 ($13,965 per ton), while the price for Ireland ($5,438 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 Estonia (+14.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Frozen Boneless Cuts of Bovine Meat in Latvia (FOB) - 2023
The average export price for frozen boneless cuts of bovine meat stood at $5,879 per ton in October 2023, dropping by -7.7% against the previous month. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in August 2023 when the average export price increased by 21% month-to-month. Over the period under review, the average export prices hit record highs at $6,880 per ton in April 2023; however, from May 2023 to October 2023, the export prices remained at a lower figure.
Average prices varied noticeably for the major overseas markets. In October 2023, the highest price was recorded for prices to Estonia ($5,914 per ton) and Lithuania ($5,877 per ton), while the average price for exports to Norway ($5,737 per ton) and Finland ($5,838 per ton) were amongst the lowest.
From October 2022 to October 2023, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+3.3%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Frozen Boneless Cuts of Bovine Meat in Latvia
In 2022, approx. 3K tons of frozen boneless cuts of bovine meat were imported into Latvia; jumping by 30% compared with 2021. Overall, total imports indicated a resilient expansion from 2019 to 2022: its volume increased at an average annual rate of +14.8% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +51.5% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, imports of frozen boneless cuts of bovine meat skyrocketed to $18M in 2022. Over the period under review, imports showed significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Frozen Boneless Cuts of Bovine Meat in Latvia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Lithuania | 6.2 | 7.6 | 8.9 | 12.9 | 27.7% |
| Poland | 0.8 | 0.5 | 0.4 | 2.4 | 44.2% |
| Netherlands | 0.1 | 0.2 | 0.4 | 0.8 | 100.0% |
| Ireland | 0.2 | 0.4 | 0.4 | 0.5 | 35.7% |
| Estonia | 0.3 | 0.2 | 0.4 | 0.4 | 10.1% |
| Denmark | N/A | N/A | 0.1 | 0.1 | 0.0% |
| Others | 0.6 | 0.1 | 0.1 | 0.3 | -20.6% |
| Total | 8.3 | 9.1 | 10.7 | 17.6 | 28.5% |
Top Suppliers of Frozen Boneless Cuts of Bovine Meat to Latvia in 2022:
- Lithuania (2041.3 tons)
- Poland (458.2 tons)
- Netherlands (184.7 tons)
- Ireland (152.1 tons)
- Denmark (84.0 tons)
- Estonia (73.6 tons)
Exports of Frozen Boneless Cuts of Bovine Meat in Latvia
In 2022, the amount of frozen boneless cuts of bovine meat exported from Latvia skyrocketed to 1.9K tons, with an increase of 28% on the previous year's figure. Over the period under review, total exports indicated significant growth from 2019 to 2022: its volume increased at an average annual rate of +23.6% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +88.6% against 2019 indices. The pace of growth was the most pronounced in 2020 with an increase of 32%. Over the period under review, the exports of reached the peak figure in 2022 and are likely to continue growth in the near future.
In value terms, exports of frozen boneless cuts of bovine meat skyrocketed to $12M in 2022. Overall, exports continue to indicate significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Frozen Boneless Cuts of Bovine Meat in Latvia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Lithuania | 2.3 | 2.8 | 3.5 | 5.1 | 30.4% |
| Estonia | 1.9 | 1.9 | 2.3 | 3.4 | 21.4% |
| Norway | N/A | 0.9 | 1.0 | 1.5 | 29.1% |
| Poland | N/A | N/A | N/A | 0.7 | 0% |
| China | N/A | N/A | N/A | 0.7 | 0% |
| Finland | N/A | N/A | N/A | 0.3 | 0% |
| Others | N/A | N/A | N/A | 0.1 | 0% |
| Total | 4.2 | 5.7 | 6.9 | 11.8 | 41.1% |
Top Export Markets for Frozen Boneless Cuts of Bovine Meat from Latvia in 2022:
- Lithuania (844.9 tons)
- Estonia (543.2 tons)
- Norway (216.0 tons)
- Poland (97.8 tons)
- China (91.7 tons)
- Finland (44.6 tons)
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