Price for Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Latvia - 2023
Contents:
- Price for Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Latvia (CIF) - 2022
- Price for Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Latvia (FOB) - 2022
- Imports of Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Latvia
- Exports of Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Latvia
Price for Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Latvia (CIF) - 2022
In 2022, the average import price for frozen bone-in cuts (excluding carcasses and half-carcasses) of bovine meat amounted to $5,825 per ton, rising by 32% against the previous year. Overall, import price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 when the average import price increased by 33% against the previous year. The import price peaked in 2022 and is likely to see steady growth in the near future.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Lithuania ($6,326 per ton), while the price for Poland ($3,099 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lithuania (+5.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Latvia (FOB) - 2022
In 2022, the average export price for frozen bone-in cuts (excluding carcasses and half-carcasses) of bovine meat amounted to $3,517 per ton, picking up by 34% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 207%. As a result, the export price attained the peak level of $10,888 per ton. From 2019 to 2022, the average export prices remained at a lower figure.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Norway ($10,117 per ton), while the average price for exports to China ($2,969 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 Norway (+76.3%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Latvia
In 2022, supplies from abroad of frozen bone-in cuts (excluding carcasses and half-carcasses) of bovine meat decreased by -6.6% to 539 tons for the first time since 2018, thus ending a three-year rising trend. The total import volume increased at an average annual rate of +2.3% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 13% against the previous year. As a result, imports attained the peak of 577 tons, and then shrank in the following year.
In value terms, imports of frozen bone-in cuts (excluding carcasses and half-carcasses) of bovine meat surged to $3.1M in 2022. The total import value increased at an average annual rate of +10.1% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Estonia | 2,089 | 2,088 | 2,309 | 2,826 | 10.6% |
| Lithuania | 115 | 112 | 147 | 220 | 24.1% |
| Poland | 50.7 | 50.7 | 46.3 | 30.2 | -15.9% |
| Others | 97.1 | 47.9 | 51.1 | 65.3 | -12.4% |
| Total | 2,351 | 2,298 | 2,554 | 3,141 | 10.1% |
Top Suppliers of Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat to Latvia in 2022:
- Estonia (488.0 tons)
- Lithuania (34.7 tons)
- Poland (9.7 tons)
Exports of Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Latvia
After three years of growth, shipments abroad of frozen bone-in cuts (excluding carcasses and half-carcasses) of bovine meat decreased by -64.2% to 127 tons in 2022. Over the period under review, exports, however, continue to indicate a significant increase. The pace of growth was the most pronounced in 2020 with an increase of 428% against the previous year.
In value terms, exports of frozen bone-in cuts (excluding carcasses and half-carcasses) of bovine meat contracted notably to $446K in 2022. In general, exports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 196%.
| Export of Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | N/A | 266 | 871 | 346 | 14.1% |
| Norway | N/A | 2.4 | 18.5 | 64.3 | 417.6% |
| Lithuania | 56.7 | 15.3 | 16.8 | 17.8 | -32.0% |
| Estonia | 88.6 | 115 | 22.6 | 16.6 | -42.8% |
| Poland | N/A | 31.0 | N/A | N/A | 0% |
| Others | N/A | N/A | 0.1 | 1.6 | 1500.0% |
| Total | 145 | 430 | 929 | 446 | 45.4% |
Top Export Markets for Frozen Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat from Latvia in 2022:
- China (116.4 tons)
- Norway (6.4 tons)
- Estonia (2.2 tons)
- Lithuania (1.8 tons)
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