Swine; Live Price in Latvia - 2023

Swine; Live Price in Latvia (FOB) - 2023

In September 2023, the average swine; live export price amounted to $107 per unit, with a decrease of -10.1% against the previous month. Overall, export price indicated moderate growth from November 2022 to September 2023: its price increased at an average monthly rate of +2.5% over the last ten-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on September 2023 figures, swine; live export price decreased by -23.6% against July 2023 indices. The pace of growth was the most pronounced in February 2023 when the average export price increased by 21% against the previous month. Over the period under review, the average export prices hit record highs at $140 per unit in July 2023; however, from August 2023 to September 2023, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major foreign markets. In September 2023, the country with the highest price was Poland ($177 per unit), while the average price for exports to Lithuania amounted to $139 per unit.

From November 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to Denmark (+5.5%), while the prices for the other major destinations experienced more modest paces of growth.

Swine; Live Price in Latvia (CIF) - 2023

In September 2023, the average swine; live import price amounted to $104 per unit, reducing by -15.7% against the previous month. Overall, the import price recorded a mild decrease. The most prominent rate of growth was recorded in April 2023 an increase of 29% month-to-month. The import price peaked at $149 per unit in July 2023; however, from August 2023 to September 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In September 2023, the country with the highest price was Denmark ($298 per unit), while the price for Lithuania ($122 per unit) was amongst the lowest.

From November 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Denmark (+4.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Swine; Live Exports in Latvia

In 2022, the amount of swine; live exported from Latvia expanded modestly to 216K units, increasing by 4.6% compared with 2021. The total export volume increased at an average annual rate of +11.2% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 when exports increased by 47%. As a result, the exports reached the peak of 230K units. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, swine; live exports skyrocketed to $17M in 2022. The total export value increased at an average annual rate of +3.0% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 when exports increased by 26%. As a result, the exports reached the peak of $19M. From 2021 to 2022, the growth of the exports remained at a lower figure.

Export of Swine; Live in Latvia (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Lithuania	13.6	14.9	10.5	12.2	-3.6%
Poland	1.5	4.2	2.7	4.3	42.1%
Others	N/A	N/A	0.1	N/A	0%
Total	15.1	19.0	13.3	16.5	3.0%

Top Export Markets for Swine; Live from Latvia in 2022:

Lithuania (145.9K units)
Poland (69.8K units)

Swine; Live Imports in Latvia

In 2022, purchases abroad of swine; live decreased by -26.2% to 69K units for the first time since 2018, thus ending a three-year rising trend. Over the period under review, imports, however, saw buoyant growth. The pace of growth appeared the most rapid in 2020 with an increase of 99.9% against the previous year. Over the period under review, imports attained the maximum at 93K units in 2021, and then shrank notably in the following year.

In value terms, swine; live imports reduced rapidly to $7M in 2022. In general, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by 75%. As a result, imports attained the peak of $12M. From 2021 to 2022, the growth of imports remained at a lower figure.