Price for Meat of Bovine Animals; Fresh or Chilled in Latvia - 2023
Contents:
- Price for Meat of Bovine Animals; Fresh or Chilled in Latvia (FOB) - 2022
- Price for Meat of Bovine Animals; Fresh or Chilled in Latvia (CIF) - 2022
- Exports of Meat of Bovine Animals; Fresh or Chilled in Latvia
- Imports of Meat of Bovine Animals; Fresh or Chilled in Latvia
Price for Meat of Bovine Animals; Fresh or Chilled in Latvia (FOB) - 2022
In 2022, the average export price for meat of bovine animals; fresh or chilled amounted to $4,337 per ton, surging by 14% against the previous year. In general, export price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for meat of bovine animals; fresh or chilled increased by +40.2% against 2020 indices. The growth pace was the most rapid in 2021 when the average export price increased by 22% against the previous year. The export price peaked in 2022 and is expected to retain growth in years to come.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Lithuania ($8,767 per ton), while the average price for exports to Poland ($4,032 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 Lithuania (+9.2%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Meat of Bovine Animals; Fresh or Chilled in Latvia (CIF) - 2022
The average import price for meat of bovine animals; fresh or chilled stood at $7,713 per ton in 2022, increasing by 51% against the previous year. In general, the import price posted prominent growth. The pace of growth was the most pronounced in 2017 when the average import price increased by 53% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($18,271 per ton), while the price for Denmark ($2,675 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+11.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Meat of Bovine Animals; Fresh or Chilled in Latvia
In 2022, after three years of growth, there was significant decline in overseas shipments of meat of bovine animals; fresh or chilled, when their volume decreased by -18.3% to 9.2K tons. The total export volume increased at an average annual rate of +2.4% 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 2021 with an increase of 19%. As a result, the exports reached the peak of 11K tons, and then shrank rapidly in the following year.
In value terms, exports of meat of bovine animals; fresh or chilled fell to $40M in 2022. Over the period under review, total exports indicated buoyant growth from 2019 to 2022: its value increased at an average annual rate of +14.2% 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 +48.8% against 2019 indices. The pace of growth appeared the most rapid in 2021 with an increase of 46% against the previous year. As a result, the exports reached the peak of $43M, and then dropped in the following year.
| Export of Meat of Bovine Animals; Fresh or Chilled in Latvia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 17.8 | 16.4 | 27.1 | 28.1 | 16.4% |
| Finland | 2.3 | 4.3 | 4.8 | 4.3 | 23.2% |
| Lithuania | 1.5 | 1.0 | 2.0 | 2.5 | 18.6% |
| Estonia | 1.1 | 1.3 | 1.7 | 2.4 | 29.7% |
| Germany | 0.1 | 0.1 | 1.5 | 2.1 | 175.9% |
| Belgium | 2.0 | 1.4 | 1.9 | 0.3 | -46.9% |
| Poland | 1.4 | 0.9 | 0.4 | 0.1 | -58.5% |
| Norway | N/A | 3.0 | 2.8 | 0.1 | -81.7% |
| Others | 0.7 | 0.7 | 0.5 | 0.1 | -47.7% |
| Total | 26.9 | 29.3 | 42.8 | 40.0 | 14.1% |
Top Export Markets for Meat of Bovine Animals; Fresh or Chilled from Latvia in 2022:
- Netherlands (6.9K tons)
- Finland (1.0K tons)
- Germany (0.5K tons)
- Estonia (0.4K tons)
- Lithuania (0.3K tons)
- Belgium (0.1K tons)
Imports of Meat of Bovine Animals; Fresh or Chilled in Latvia
In 2022, purchases abroad of meat of bovine animals; fresh or chilled decreased by -29.2% to 1.9K tons for the first time since 2018, thus ending a three-year rising trend. In general, total imports indicated resilient growth from 2019 to 2022: its volume increased at an average annual rate of +6.6% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 when imports increased by 58%.
In value terms, imports of meat of bovine animals; fresh or chilled rose significantly to $14M in 2022. Overall, total imports indicated strong growth from 2019 to 2022: its value increased at an average annual rate of +17.4% 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 +61.6% against 2019 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 27%. Over the period under review, imports of reached the maximum in 2022 and are expected to retain growth in the immediate term.
| Import of Meat of Bovine Animals; Fresh or Chilled in Latvia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Lithuania | 3.0 | 6.1 | 7.1 | 5.8 | 24.6% |
| Poland | 0.5 | 1.8 | 2.2 | 3.5 | 91.3% |
| Netherlands | 1.5 | 0.9 | 1.9 | 2.6 | 20.1% |
| Estonia | 1.7 | 1.6 | 1.7 | 1.6 | -2.0% |
| Germany | 0.4 | 0.2 | 0.2 | 0.7 | 20.5% |
| Denmark | N/A | 0.1 | 0.3 | 0.1 | 0.0% |
| Spain | 1.1 | N/A | N/A | N/A | 0% |
| Others | 0.7 | 0.6 | 0.1 | 0.1 | -47.7% |
| Total | 8.9 | 11.3 | 13.5 | 14.4 | 17.4% |
Top Suppliers of Meat of Bovine Animals; Fresh or Chilled to Latvia in 2022:
- Lithuania (878.4 tons)
- Poland (489.2 tons)
- Estonia (269.7 tons)
- Netherlands (143.0 tons)
- Denmark (40.2 tons)
- Germany (39.7 tons)
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