Estonia: Fresh Beef Carcase Market 2024

Fresh Beef Carcase Market Size in Estonia

The Estonian fresh beef carcase market was finally on the rise to reach $X in 2022, after three years of decline. Over the period under review, consumption recorded a perceptible decrease. Fresh beef carcase consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Fresh Beef Carcase Production in Estonia

In value terms, fresh beef carcase production soared to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a noticeable increase. Fresh beef carcase production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Fresh Beef Carcase Exports

Exports from Estonia

In 2022, overseas shipments of fresh or chilled carcases of beef and veal increased by 52% to X tons, rising for the third consecutive year after five years of decline. Overall, exports recorded mild growth. The pace of growth was the most pronounced in 2020 with an increase of 937% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, fresh beef carcase exports soared to $X in 2022. Over the period under review, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 356% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

The Netherlands (X tons) was the main destination for fresh beef carcase exports from Estonia, accounting for a 93% share of total exports. Moreover, fresh beef carcase exports to the Netherlands exceeded the volume sent to the second major destination, Latvia (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to the Netherlands amounted to +8.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Latvia (+32.8% per year) and Finland (-73.3% per year).

In value terms, the Netherlands ($X) remains the key foreign market for fresh or chilled carcases of beef and veal exports from Estonia, comprising 91% of total exports. The second position in the ranking was held by Latvia ($X), with a 7.8% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the Netherlands totaled +9.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Latvia (+31.3% per year) and Finland (-73.6% per year).

Export Prices by Country

The average fresh beef carcase export price stood at $X per ton in 2022, surging by 4.8% against the previous year. Overall, the export price, however, saw a mild slump. The pace of growth was the most pronounced in 2016 an increase of 34%. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Latvia ($X per ton), while the average price for exports to the Netherlands ($X 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 Sweden (+1.7%), while the prices for the other major destinations experienced mixed trend patterns.

Fresh Beef Carcase Imports

Imports into Estonia

After two years of growth, supplies from abroad of fresh or chilled carcases of beef and veal decreased by -57.4% to X tons in 2022. Over the period under review, imports continue to indicate a sharp setback. The most prominent rate of growth was recorded in 2021 with an increase of 234%. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, fresh beef carcase imports declined dramatically to $X in 2022. In general, imports showed a abrupt slump. The pace of growth appeared the most rapid in 2021 with an increase of 218%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Latvia (X tons) constituted the largest supplier of fresh beef carcase to Estonia, with a 76% share of total imports. Moreover, fresh beef carcase imports from Latvia exceeded the figures recorded by the second-largest supplier, Poland (X tons), sevenfold. Finland (X tons) ranked third in terms of total imports with a 7.3% share.

From 2012 to 2022, the average annual growth rate of volume from Latvia amounted to -21.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (-5.5% per year) and Finland (-8.1% per year).

In value terms, Latvia ($X) constituted the largest supplier of fresh or chilled carcases of beef and veal to Estonia, comprising 70% of total imports. The second position in the ranking was held by Finland ($X), with a 12% share of total imports. It was followed by Poland, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Latvia totaled -17.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Finland (-6.2% per year) and Poland (-6.2% per year).

Import Prices by Country

In 2022, the average fresh beef carcase import price amounted to $X per ton, surging by 33% against the previous year. Over the period under review, import price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when the average import price increased by 58%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Latvia ($X 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.

Source: IndexBox Platform