Price for Meat of Bovine Animals; Frozen in Latvia - 2023
Contents:
- Price for Meat of Bovine Animals; Frozen in Latvia (CIF) - 2022
- Price for Meat of Bovine Animals; Frozen in Latvia (FOB) - 2023
- Imports of Meat of Bovine Animals; Frozen in Latvia
- Exports of Meat of Bovine Animals; Frozen in Latvia
Price for Meat of Bovine Animals; Frozen in Latvia (CIF) - 2022
In 2022, the average import price for meat of bovine animals; frozen amounted to $5,760 per ton, jumping by 28% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.5%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Lithuania ($6,317 per ton), while the price for Denmark ($1,674 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ireland (+15.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Meat of Bovine Animals; Frozen in Latvia (FOB) - 2023
In September 2023, the average export price for meat of bovine animals; frozen amounted to $5,488 per ton, which is down by -4.7% against the previous month. Overall, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in April 2023 when the average export price increased by 15% m-o-m. As a result, the export price attained the peak level of $6,255 per ton. From May 2023 to September 2023, the the average export prices remained at a lower figure.
There were significant differences in the average prices for the major export markets. In September 2023, the country with the highest price was Norway ($6,763 per ton), while the average price for exports to the Netherlands ($4,112 per ton) was amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to Norway (+0.8%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Meat of Bovine Animals; Frozen in Latvia
In 2022, the amount of meat of bovine animals; frozen imported into Latvia soared to 3.6K tons, increasing by 22% compared with the year before. The total import volume increased at an average annual rate of +12.5% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, meat of bovine animals; frozen imports surged to $21M in 2022. Over the period under review, imports saw a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Meat of Bovine Animals; Frozen in Latvia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Lithuania | 6.3 | 7.8 | 9.1 | 13.1 | 27.6% |
| Estonia | 2.4 | 2.3 | 2.7 | 3.2 | 10.1% |
| Poland | 0.8 | 0.6 | 0.4 | 2.4 | 44.2% |
| Netherlands | 0.2 | 0.2 | 0.5 | 0.9 | 65.1% |
| Ireland | 0.2 | 0.4 | 0.4 | 0.5 | 35.7% |
| Denmark | N/A | N/A | 0.1 | 0.1 | 0.0% |
| Germany | 0.4 | N/A | 0.1 | 0.1 | -37.0% |
| Others | 0.3 | 0.1 | 0.1 | 0.3 | 0.0% |
| Total | 10.7 | 11.5 | 13.3 | 20.7 | 24.6% |
Top Suppliers of Meat of Bovine Animals; Frozen to Latvia in 2022:
- Lithuania (2076.1 tons)
- Estonia (561.6 tons)
- Poland (467.9 tons)
- Netherlands (189.5 tons)
- Ireland (152.1 tons)
- Denmark (84.0 tons)
- Germany (12.6 tons)
Exports of Meat of Bovine Animals; Frozen in Latvia
For the fourth consecutive year, Latvia recorded growth in overseas shipments of meat of bovine animals; frozen, which increased by 14% to 2.1K tons in 2022. Overall, total exports indicated a significant increase from 2019 to 2022: its volume increased at an average annual rate of +26.6% 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 +103.1% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 42% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in years to come.
In value terms, meat of bovine animals; frozen exports skyrocketed to $13M in 2022. In general, exports posted a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Meat of Bovine Animals; Frozen in Latvia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Lithuania | 2.4 | 2.9 | 3.5 | 5.1 | 28.6% |
| Estonia | 1.9 | 2.1 | 2.3 | 3.4 | 21.4% |
| Norway | N/A | 0.9 | 1.0 | 1.6 | 33.3% |
| China | N/A | 0.3 | 0.9 | 1.1 | 91.5% |
| Poland | N/A | N/A | N/A | 0.7 | 0% |
| Netherlands | N/A | N/A | N/A | 0.3 | 0% |
| Finland | N/A | N/A | N/A | 0.3 | 0% |
| Others | N/A | 0.1 | N/A | 0.1 | 0.0% |
| Total | 4.4 | 6.2 | 7.8 | 12.5 | 41.6% |
Top Export Markets for Meat of Bovine Animals; Frozen from Latvia in 2022:
- Lithuania (846.6 tons)
- Estonia (545.3 tons)
- Norway (222.2 tons)
- China (208.3 tons)
- Poland (97.8 tons)
- Netherlands (79.4 tons)
- Finland (44.6 tons)
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