Latvia: Market for Sheep And Goat Meat 2024

Market Size for Sheep And Goat Meat in Latvia

In 2022, the Latvian sheep and goat meat market was finally on the rise to reach $X after two years of decline. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Production of Sheep And Goat Meat in Latvia

In value terms, sheep and goat meat production fell modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2019 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

The average yield of sheep and goat meat in Latvia contracted to X kg per head in 2022, remaining constant against the year before. Overall, the yield showed a slight slump. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, the average sheep and goat meat yield attained the peak level at X kg per head in 2012; however, from 2013 to 2022, the yield remained at a lower figure.

In 2022, number of animals slaughtered for sheep and goat meat production in Latvia expanded rapidly to X heads, increasing by X% compared with 2021. In general, the total number of producing animals indicated a moderate increase from 2012 to 2022: its figure increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, number of animals slaughtered for sheep and goat meat production decreased by X% against 2019 indices. The pace of growth was the most pronounced in 2015 with an increase of X%. Over the period under review, this number reached the peak level at X heads in 2019; however, from 2020 to 2022, producing animals stood at a somewhat lower figure.

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Exports of Sheep And Goat Meat

Exports from Latvia

In 2022, overseas shipments of sheep and goat meat decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, exports, however, recorded a resilient increase. The pace of growth was the most pronounced in 2013 when exports increased by X%. The exports peaked at X tons in 2021, and then declined markedly in the following year.

In value terms, sheep and goat meat exports shrank to $X in 2022. Over the period under review, exports, however, enjoyed buoyant growth. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. The exports peaked at $X in 2021, and then dropped in the following year.

Exports by Country

Finland (X tons) was the main destination for sheep and goat meat exports from Latvia, with a X% share of total exports. Moreover, sheep and goat meat exports to Finland exceeded the volume sent to the second major destination, Lithuania (X tons), sevenfold. Estonia (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Finland amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lithuania (X% per year) and Estonia (X% per year).

In value terms, Finland ($X) remains the key foreign market for sheep and goat meat exports from Latvia, comprising X% of total exports. The second position in the ranking was taken by Lithuania ($X), with a X% share of total exports. It was followed by Estonia, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Finland totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lithuania (X% per year) and Estonia (X% per year).

Export Prices by Country

The average sheep and goat meat export price stood at $X per ton in 2022, increasing by X% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of X%. The export price peaked in 2022 and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Finland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Sheep And Goat Meat

Imports into Latvia

In 2022, purchases abroad of sheep and goat meat was finally on the rise to reach X tons after two years of decline. Overall, total imports indicated a measured expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 when imports increased by X%. Over the period under review, imports attained the peak figure at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, sheep and goat meat imports surged to $X in 2022. Over the period under review, total imports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2014 when imports increased by X%. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

In 2022, the Netherlands (X tons) constituted the largest supplier of sheep and goat meat to Latvia, with a X% share of total imports. Moreover, sheep and goat meat imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Estonia (X tons), twofold. The third position in this ranking was held by Lithuania (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the Netherlands amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Estonia (X% per year) and Lithuania (X% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of sheep and goat meat to Latvia, comprising X% of total imports. The second position in the ranking was held by Estonia ($X), with an X% share of total imports. It was followed by Lithuania, with a X% share.

From 2012 to 2022, the average annual growth rate of value from the Netherlands stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Estonia (X% per year) and Lithuania (X% per year).

Import Prices by Country

The average sheep and goat meat import price stood at $X per ton in 2022, jumping by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2017 an increase of X%. The import price peaked in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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