Fresh Chicken Cut Price in Latvia - 2023
Contents:
- Fresh Chicken Cut Price in Latvia (CIF) - 2023
- Fresh Chicken Cut Price in Latvia (FOB) - 2023
- Fresh Chicken Cut Imports in Latvia
- Fresh Chicken Cut Exports in Latvia
Fresh Chicken Cut Price in Latvia (CIF) - 2023
In October 2023, the average fresh chicken cut import price amounted to $2,930 per ton, growing by 3.7% against the previous month. Over the period from October 2022 to October 2023, it increased at an average monthly rate of +1.2%. The pace of growth was the most pronounced in November 2022 an increase of 5.6% against the previous month. Over the period under review, average import prices attained the peak figure at $3,041 per ton in July 2023; however, from August 2023 to October 2023, import prices stood at a somewhat lower figure.
Average prices varied noticeably amongst the major supplying countries. In October 2023, the country with the highest price was Lithuania ($3,115 per ton), while the price for Estonia ($2,761 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 Lithuania (+1.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Fresh Chicken Cut Price in Latvia (FOB) - 2023
The average fresh chicken cut export price stood at $3,311 per ton in October 2023, declining by -23.2% against the previous month. Overall, the export price continues to indicate a mild descent. The most prominent rate of growth was recorded in April 2023 when the average export price increased by 11% month-to-month. The export price peaked at $4,501 per ton in May 2023; however, from June 2023 to October 2023, the export prices stood at a somewhat lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was Lithuania ($5,199 per ton), while the average price for exports to Finland ($2,673 per ton) was amongst the lowest.
From October 2022 to October 2023, the most notable rate of growth in terms of prices was recorded for supplies to Lithuania (+7.6%), while the prices for the other major destinations experienced more modest paces of growth.
Fresh Chicken Cut Imports in Latvia
In 2022, overseas purchases of fresh or chilled cuts of chicken decreased by -9.1% to 18K tons, falling for the second consecutive year after two years of growth. The total import volume increased at an average annual rate of +5.6% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 with an increase of 46% against the previous year. As a result, imports attained the peak of 23K tons. From 2021 to 2022, the growth of imports failed to regain momentum.
In value terms, fresh chicken cut imports surged to $48M in 2022. In general, total imports indicated significant growth from 2019 to 2022: its value increased at an average annual rate of +25.4% 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 +97.3% against 2019 indices. The pace of growth was the most pronounced in 2020 with an increase of 40% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.
| Import of Fresh Chicken Cut in Latvia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Poland | 7.8 | 10.6 | 17.8 | 32.2 | 60.4% |
| Lithuania | 10.9 | 17.1 | 11.6 | 8.1 | -9.4% |
| Estonia | 4.6 | 5.3 | 6.5 | 6.1 | 9.9% |
| Denmark | 0.1 | 0.1 | 0.2 | 0.8 | 100.0% |
| Finland | N/A | 0.2 | 0.2 | 0.3 | 22.5% |
| Others | 0.8 | 0.5 | 0.6 | 0.3 | -27.9% |
| Total | 24.2 | 33.8 | 37.0 | 47.7 | 25.4% |
Top Suppliers of Fresh Chicken Cut to Latvia in 2022:
- Poland (11.9K tons)
- Lithuania (2.9K tons)
- Estonia (2.5K tons)
- Denmark (0.4K tons)
- Finland (0.4K tons)
Fresh Chicken Cut Exports in Latvia
In 2022, the amount of fresh or chilled cuts of chicken exported from Latvia expanded significantly to 7.6K tons, with an increase of 12% against 2021. Over the period under review, exports saw a relatively flat trend pattern. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, fresh chicken cut exports soared to $30M in 2022. In general, total exports indicated a remarkable increase from 2019 to 2022: its value increased at an average annual rate of +11.4% 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 +53.8% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Fresh Chicken Cut in Latvia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Sweden | 5.2 | 5.6 | 8.1 | 14.6 | 41.1% |
| Estonia | 5.1 | 3.3 | 2.9 | 9.5 | 23.0% |
| Lithuania | 9.0 | 8.3 | 8.2 | 2.6 | -33.9% |
| United Kingdom | 1.7 | 1.9 | 2.5 | 1.8 | 1.9% |
| Finland | 0.3 | 0.3 | 1.0 | 1.2 | 58.7% |
| Others | 0.5 | 0.1 | 0.4 | 0.5 | 0.0% |
| Total | 21.8 | 19.6 | 23.2 | 30.1 | 11.4% |
Top Export Markets for Fresh Chicken Cut from Latvia in 2022:
- Sweden (3.3K tons)
- Estonia (2.7K tons)
- Lithuania (0.8K tons)
- Finland (0.4K tons)
- United Kingdom (0.3K tons)
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