Price for Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Estonia - 2023

Contents:

1. Price for Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Estonia (FOB) - 2023
2. Price for Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Estonia (CIF) - 2022
3. Exports of Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Estonia
4. Imports of Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Estonia

Price for Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Estonia (FOB) - 2023

The average export price for fresh or chilled bone-in cuts (excluding carcasses and half-carcasses) of bovine meat stood at $3,610 per ton in October 2023, with a decrease of -7.4% against the previous month. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in March 2023 when the average export price increased by 4.7% month-to-month. Over the period under review, the average export prices reached the maximum at $4,297 per ton in April 2023; however, from May 2023 to October 2023, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for the Netherlands.

From October 2022 to October 2023, the rate of growth in terms of prices for the Netherlands amounted to +0.3% per month.

Price for Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Estonia (CIF) - 2022

The average import price for fresh or chilled bone-in cuts (excluding carcasses and half-carcasses) of bovine meat stood at $4,956 per ton in 2022, surging by 7.1% against the previous year. Over the period under review, import price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for fresh or chilled bone-in cuts (excluding carcasses and half-carcasses) of bovine meat increased by +7.9% against 2020 indices. The most prominent rate of growth was recorded in 2014 when the average import price increased by 58%. As a result, import price attained the peak level of $6,995 per ton. From 2015 to 2022, the average import prices remained at a lower figure.

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 Finland ($9,517 per ton), while the price for Sweden ($1,023 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+22.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports of Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Estonia

In 2022, approx. 839 tons of fresh or chilled bone-in cuts (excluding carcasses and half-carcasses) of bovine meat were exported from Estonia; with an increase of 62% on the previous year. In general, exports showed a significant expansion. The growth pace was the most rapid in 2020 when exports increased by 937% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, exports of fresh or chilled bone-in cuts (excluding carcasses and half-carcasses) of bovine meat surged to $3.3M in 2022. Overall, exports recorded a significant increase. The pace of growth appeared the most rapid in 2020 when exports increased by 356%. Over the period under review, the exports of attained the peak figure in 2022 and are likely to see steady growth in years to come.

Top Export Markets for Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat from Estonia in 2022:

1. Netherlands (836.2 tons)
2. Latvia (2.5 tons)

Imports of Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Estonia

Imports of fresh or chilled bone-in cuts (excluding carcasses and half-carcasses) of bovine meat into Estonia soared to 108 tons in 2022, picking up by 23% against the previous year's figure. In general, imports showed a significant expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 151% against the previous year. Over the period under review, imports of reached the maximum in 2022 and are likely to see steady growth in years to come.

In value terms, imports of fresh or chilled bone-in cuts (excluding carcasses and half-carcasses) of bovine meat soared to $536K in 2022. Overall, imports recorded a significant expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 94% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Top Suppliers of Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat to Estonia in 2022:

1. Latvia (63.9 tons)
2. Sweden (21.0 tons)
3. Poland (12.7 tons)
4. Finland (7.8 tons)
5. Lithuania (2.4 tons)

Source: IndexBox Market Intelligence Platform