Price for Meat of Bovine Animals; Frozen in Lithuania - 2023

Price for Meat of Bovine Animals; Frozen in Lithuania (FOB) - 2023

The average export price for meat of bovine animals; frozen stood at $6,151 per ton in September 2023, remaining stable against the previous month. In general, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in April 2023 an increase of 8.7% month-to-month. As a result, the export price attained the peak level of $6,982 per ton. From May 2023 to September 2023, the the average export prices remained at a lower figure.

Average prices varied somewhat for the major foreign markets. In September 2023, the countries with the highest prices were Germany ($8,456 per ton) and Estonia ($6,928 per ton), while the average price for exports to Ukraine ($5,644 per ton) and Romania ($5,978 per ton) were amongst the lowest.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+1.0%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Meat of Bovine Animals; Frozen in Lithuania (CIF) - 2023

In September 2023, the average import price for meat of bovine animals; frozen amounted to $5,545 per ton, dropping by -2.4% against the previous month. In general, the import price saw a mild descent. The pace of growth was the most pronounced in January 2023 when the average import price increased by 16% against the previous month. The import price peaked at $6,762 per ton in July 2023; however, from August 2023 to September 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In September 2023, the country with the highest price was the Netherlands ($11,606 per ton), while the price for Belgium ($4,653 per ton) was amongst the lowest.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Latvia (+0.4%), while the prices for the other major suppliers experienced a decline.

Exports of Meat of Bovine Animals; Frozen in Lithuania

In 2022, overseas shipments of meat of bovine animals; frozen decreased by -6.1% to 10K tons for the first time since 2018, thus ending a three-year rising trend. The total export volume increased at an average annual rate of +4.7% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 16%. As a result, the exports attained the peak of 11K tons, and then contracted in the following year.

In value terms, meat of bovine animals; frozen exports skyrocketed to $60M in 2022. Over the period under review, total exports indicated a remarkable increase from 2019 to 2022: its value increased at an average annual rate of +17.5% 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 +62.2% against 2019 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 25%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Export of Meat of Bovine Animals; Frozen in Lithuania (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Romania	10.1	10.6	13.4	18.4	22.1%
Latvia	6.2	7.4	8.9	11.9	24.3%
Greece	2.5	2.4	3.8	6.9	40.3%
Estonia	7.2	7.7	5.8	6.3	-4.4%
Georgia	N/A	1.2	3.8	4.5	93.6%
Denmark	1.4	1.1	2.2	2.1	14.5%
Netherlands	0.5	0.7	0.8	1.6	47.4%
Finland	2.2	1.2	1.0	1.4	-14.0%
Sweden	1.2	1.0	0.6	1.3	2.7%
Germany	0.7	0.4	0.8	1.3	22.9%
Poland	0.5	0.4	0.5	1.2	33.9%
Ukraine	2.6	2.2	1.9	0.7	-35.4%
Others	2.0	3.3	6.3	2.5	7.7%
Total	37.1	39.7	49.8	60.1	17.4%

Top Export Markets for Meat of Bovine Animals; Frozen from Lithuania in 2022:

Romania (3014.2 tons)
Latvia (1924.3 tons)
Greece (1078.1 tons)
Estonia (1048.0 tons)
Georgia (742.5 tons)
Denmark (406.7 tons)
Netherlands (300.3 tons)
Finland (250.7 tons)
Poland (233.4 tons)
Germany (200.9 tons)
Sweden (196.9 tons)
Ukraine (158.2 tons)

Imports of Meat of Bovine Animals; Frozen in Lithuania

In 2022, the amount of meat of bovine animals; frozen imported into Lithuania contracted sharply to 2.6K tons, reducing by -17.3% on the previous year. The total import volume increased at an average annual rate of +1.2% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 30% against the previous year. As a result, imports attained the peak of 3.2K tons, and then dropped significantly in the following year.

In value terms, meat of bovine animals; frozen imports expanded sharply to $16M in 2022. In general, total imports indicated a resilient increase from 2019 to 2022: its value increased at an average annual rate of +18.2% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +65.2% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 49%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Import of Meat of Bovine Animals; Frozen in Lithuania (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Poland	5.7	5.6	8.0	7.7	10.5%
Latvia	2.4	2.9	3.8	5.3	30.2%
Netherlands	0.4	0.2	0.6	1.0	35.7%
China	N/A	N/A	N/A	0.8	0%
Germany	0.4	0.1	0.5	0.2	-20.6%
Others	0.8	1.0	1.9	1.1	11.2%
Total	9.8	9.9	14.8	16.1	18.0%