Price for Frozen Boneless Cuts of Bovine Meat in Estonia - 2023
Contents:
- Price for Frozen Boneless Cuts of Bovine Meat in Estonia (CIF) - 2023
- Price for Frozen Boneless Cuts of Bovine Meat in Estonia (FOB) - 2023
- Imports of Frozen Boneless Cuts of Bovine Meat in Estonia
- Exports of Frozen Boneless Cuts of Bovine Meat in Estonia
Price for Frozen Boneless Cuts of Bovine Meat in Estonia (CIF) - 2023
The average import price for frozen boneless cuts of bovine meat stood at $6,170 per ton in October 2023, with an increase of 1.8% against the previous month. Overall, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in March 2023 an increase of 36% month-to-month. The import price peaked at $7,264 per ton in April 2023; however, from May 2023 to October 2023, import prices stood at a somewhat lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was the Netherlands ($15,555 per ton), while the price for Poland ($5,496 per ton) was amongst the lowest.
From October 2022 to October 2023, the most notable rate of growth in terms of prices was attained by the Netherlands (+5.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Frozen Boneless Cuts of Bovine Meat in Estonia (FOB) - 2023
The average export price for frozen boneless cuts of bovine meat stood at $4,920 per ton in October 2023, increasing by 33% against the previous month. Over the period under review, the export price continues to indicate a mild increase. The most prominent rate of growth was recorded in May 2023 when the average export price increased by 177% m-o-m. Over the period under review, the average export prices attained the maximum at $8,718 per ton in June 2023; however, from July 2023 to October 2023, the export prices failed to regain momentum.
Prices varied noticeably by the country of destination: the country with the highest price was Latvia ($9,806 per ton), while the average price for exports to Lithuania ($1,759 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 (+481.9%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Frozen Boneless Cuts of Bovine Meat in Estonia
Imports of frozen boneless cuts of bovine meat into Estonia dropped sharply to 2.5K tons in 2022, which is down by -15.2% against 2021 figures. In general, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 18% against the previous year. As a result, imports attained the peak of 3K tons, and then shrank dramatically in the following year.
In value terms, imports of frozen boneless cuts of bovine meat stood at $15M in 2022. Overall, total imports indicated a buoyant expansion from 2019 to 2022: its value increased at an average annual rate of +13.5% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +50.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 31% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.
| Import of Frozen Boneless Cuts of Bovine Meat in Estonia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Poland | 3.6 | 3.2 | 4.7 | 5.3 | 13.8% |
| Latvia | 0.4 | 2.2 | 2.6 | 3.7 | 109.9% |
| Finland | 0.9 | 1.0 | 1.1 | 1.7 | 23.6% |
| Denmark | 0.6 | 1.2 | 1.6 | 1.3 | 29.4% |
| Lithuania | 2.3 | 1.5 | 1.6 | 1.3 | -17.3% |
| Netherlands | 1.3 | 0.9 | 1.1 | 1.1 | -5.4% |
| Germany | 0.2 | 0.1 | 0.1 | 0.3 | 14.5% |
| Others | 1.3 | 0.2 | 0.7 | 0.7 | -18.6% |
| Total | 10.6 | 10.3 | 13.4 | 15.4 | 13.3% |
Top Suppliers of Frozen Boneless Cuts of Bovine Meat to Estonia in 2022:
- Poland (911.8 tons)
- Latvia (603.1 tons)
- Finland (315.4 tons)
- Denmark (233.5 tons)
- Lithuania (201.6 tons)
- Netherlands (101.8 tons)
- Germany (54.1 tons)
Exports of Frozen Boneless Cuts of Bovine Meat in Estonia
In 2022, after three years of growth, there was significant decline in shipments abroad of frozen boneless cuts of bovine meat, when their volume decreased by -36% to 592 tons. In general, total exports indicated a pronounced expansion from 2019 to 2022: its volume increased at an average annual rate of +4.7% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 40% against the previous year. As a result, the exports reached the peak of 924 tons, and then fell remarkably in the following year.
In value terms, exports of frozen boneless cuts of bovine meat reduced markedly to $2.9M in 2022. Overall, total exports indicated a buoyant expansion from 2019 to 2022: its value increased at an average annual rate of +12.6% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +42.8% against 2019 indices. The growth pace was the most rapid in 2021 with an increase of 55%. As a result, the exports attained the peak of $3.8M, and then declined sharply in the following year.
| Export of Frozen Boneless Cuts of Bovine Meat in Estonia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Finland | 955 | 1,789 | 2,844 | 1,493 | 16.1% |
| Latvia | 318 | 229 | 426 | 593 | 23.1% |
| Sweden | 195 | 62.9 | 97.5 | 270 | 11.5% |
| Poland | 9.0 | 19.8 | 0.7 | 229 | 194.1% |
| Denmark | 40.1 | 181 | 95.9 | 162 | 59.3% |
| Lithuania | 49.5 | 15.0 | 170 | 74.0 | 14.3% |
| Germany | 356 | 78.9 | 47.9 | N/A | -63.3% |
| Others | 129 | 49.5 | 84.8 | 110 | -5.2% |
| Total | 2,052 | 2,425 | 3,766 | 2,931 | 12.6% |
Top Export Markets for Frozen Boneless Cuts of Bovine Meat from Estonia in 2022:
- Finland (271.4 tons)
- Poland (135.0 tons)
- Latvia (102.4 tons)
- Denmark (30.6 tons)
- Sweden (29.5 tons)
- Lithuania (13.7 tons)
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