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

Contents:

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

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

The average export price for fresh or chilled bone-in cuts (excluding carcasses and half-carcasses) of bovine meat stood at $3,249 per ton in October 2023, with an increase of 1.9% against the previous month. Overall, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in August 2023 when the average export price increased by 12% m-o-m. The export price peaked at $3,730 per ton in December 2022; however, from January 2023 to October 2023, the export prices failed to regain momentum.

Average prices varied somewhat for the major export markets. In October 2023, the country with the highest price was Poland ($3,547 per ton), while the average price for exports to Estonia ($2,555 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 the Netherlands (+0.1%), while the prices for the other major destinations experienced mixed trend patterns.

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

The average import price for fresh or chilled bone-in cuts (excluding carcasses and half-carcasses) of bovine meat stood at $5,535 per ton in 2022, rising by 40% against the previous year. Overall, import price indicated buoyant growth from 2012 to 2022: its price increased at an average annual rate of +6.6% 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 +59.7% against 2020 indices. The most prominent rate of growth was recorded in 2014 an increase of 42% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($9,321 per ton), while the price for Lithuania ($4,899 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lithuania (+12.3%), while the prices for the other major suppliers experienced mixed trend patterns.

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

In 2022, shipments abroad of fresh or chilled bone-in cuts (excluding carcasses and half-carcasses) of bovine meat decreased by -58.5% to 551 tons, falling for the second year in a row after two years of growth. Over the period under review, exports continue to indicate a deep setback. The most prominent rate of growth was recorded in 2020 when exports increased by 119% against the previous year. As a result, the exports attained the peak of 1.6K tons. From 2021 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of fresh or chilled bone-in cuts (excluding carcasses and half-carcasses) of bovine meat declined remarkably to $2.1M in 2022. In general, exports, however, continue to indicate a slight increase. The pace of growth appeared the most rapid in 2020 when exports increased by 139% against the previous year. As a result, the exports attained the peak of $4.8M. From 2021 to 2022, the growth of the exports of failed to regain momentum.

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

1. Netherlands (497.9 tons)
2. Lithuania (26.1 tons)
3. Norway (15.4 tons)

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

In 2022, overseas purchases of fresh or chilled bone-in cuts (excluding carcasses and half-carcasses) of bovine meat decreased by -75.8% to 266 tons, falling for the second year in a row after two years of growth. Overall, imports, however, posted a significant increase. The growth pace was the most rapid in 2020 with an increase of 683% against the previous year. As a result, imports reached the peak of 1.1K tons. From 2021 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of fresh or chilled bone-in cuts (excluding carcasses and half-carcasses) of bovine meat declined remarkably to $1.5M in 2022. In general, imports, however, posted a significant expansion. The growth pace was the most rapid in 2020 with an increase of 535%.

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

1. Lithuania (170.5 tons)
2. Poland (60.6 tons)
3. Germany (16.9 tons)
4. Estonia (13.8 tons)

Source: IndexBox Market Intelligence Platform