Price for Fresh or Chilled Carcasses and Half-Carcasses of Bovine Meat in Latvia - 2023

Contents:

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

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

The average export price for fresh or chilled carcasses and half-carcasses of bovine meat stood at $3,951 per ton in October 2023, declining by -13.2% against the previous month. Overall, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in December 2022 an increase of 9.8% month-to-month. Over the period under review, the average export prices reached the maximum at $4,588 per ton in June 2023; however, from July 2023 to October 2023, the export prices remained at a lower figure.

Average prices varied somewhat for the major export markets. In October 2023, the country with the highest price was Finland ($4,997 per ton), while the average price for exports to the Netherlands ($3,794 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 Germany (+6.6%), while the prices for the other major destinations experienced more modest paces of growth.

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

In 2022, the average import price for fresh or chilled carcasses and half-carcasses of bovine meat amounted to $12,326 per ton, jumping by 42% against the previous year. Overall, the import price enjoyed a strong increase. The pace of growth was the most pronounced in 2017 an increase of 79% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is likely to see steady growth in the near future.

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 Lithuania ($13,401 per ton), while the price for Estonia amounted to $4,967 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+16.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports of Fresh or Chilled Carcasses and Half-Carcasses of Bovine Meat in Latvia

Exports of fresh or chilled carcasses and half-carcasses of bovine meat from Latvia shrank to 6.6K tons in 2022, waning by -7.8% against the previous year. Over the period under review, exports continue to indicate a pronounced decline. The most prominent rate of growth was recorded in 2021 when exports increased by 9.5% against the previous year.

In value terms, exports of fresh or chilled carcasses and half-carcasses of bovine meat expanded rapidly to $27M in 2022. The total export value increased at an average annual rate of +8.5% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when exports increased by 39% against the previous year. Over the period under review, the exports of reached the maximum in 2022 and are expected to retain growth in the immediate term.

Top Export Markets for Fresh or Chilled Carcasses and Half-Carcasses of Bovine Meat from Latvia in 2022:

1. Netherlands (5401.5 tons)
2. Germany (493.0 tons)
3. Finland (439.8 tons)
4. Lithuania (99.4 tons)
5. Belgium (61.6 tons)
6. Poland (23.0 tons)

Imports of Fresh or Chilled Carcasses and Half-Carcasses of Bovine Meat in Latvia

In 2022, overseas purchases of fresh or chilled carcasses and half-carcasses of bovine meat increased by 48% to 43 tons for the first time since 2019, thus ending a two-year declining trend. In general, imports, however, recorded a abrupt descent.

In value terms, imports of fresh or chilled carcasses and half-carcasses of bovine meat surged to $528K in 2022. Overall, imports, however, showed a perceptible downturn.

Top Suppliers of Fresh or Chilled Carcasses and Half-Carcasses of Bovine Meat to Latvia in 2022:

1. Lithuania (37.4 tons)
2. Estonia (5.5 tons)

Source: IndexBox Market Intelligence Platform