Latvia: Fresh Pork Carcase Market 2024

Fresh Pork Carcase Market Size in Latvia

The Latvian fresh pork carcase market skyrocketed to $X in 2022, jumping by 27% against the previous year. Overall, consumption continues to indicate a relatively flat trend pattern. Fresh pork carcase consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Fresh Pork Carcase Production in Latvia

In value terms, fresh pork carcase production soared to $X in 2022 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 52%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Fresh Pork Carcase Exports

Exports from Latvia

In 2022, approx. X tons of fresh or chilled carcases of pig meat were exported from Latvia; with an increase of 18% against 2021. Over the period under review, exports, however, showed a drastic downturn. The most prominent rate of growth was recorded in 2013 when exports increased by 113%. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, fresh pork carcase exports soared to $X in 2022. In general, exports, however, recorded a abrupt decline. The most prominent rate of growth was recorded in 2013 with an increase of 100%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Lithuania (X tons) was the main destination for fresh pork carcase exports from Latvia, accounting for a 70% share of total exports. Moreover, fresh pork carcase exports to Lithuania exceeded the volume sent to the second major destination, Estonia (X tons), fourfold.

From 2012 to 2022, the average annual growth rate of volume to Lithuania totaled +35.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (-22.2% per year) and Bulgaria (-33.3% per year).

In value terms, Lithuania ($X) remains the key foreign market for fresh or chilled carcases of pig meat exports from Latvia, comprising 65% of total exports. The second position in the ranking was held by Estonia ($X), with a 24% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Lithuania stood at +35.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (-20.3% per year) and Bulgaria (-33.7% per year).

Export Prices by Country

In 2022, the average fresh pork carcase export price amounted to $X per ton, rising by 15% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The export price peaked at $X per ton in 2012; afterwards, it flattened through to 2022.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Estonia ($X per ton), while the average price for exports to Bulgaria ($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 Estonia (+2.5%), while the prices for the other major destinations experienced mixed trend patterns.

Fresh Pork Carcase Imports

Imports into Latvia

For the third consecutive year, Latvia recorded growth in overseas purchases of fresh or chilled carcases of pig meat, which increased by 14% to X tons in 2022. In general, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 117%. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in the immediate term.

In value terms, fresh pork carcase imports soared to $X in 2022. Overall, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 when imports increased by 101% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Belgium (X tons) constituted the largest fresh pork carcase supplier to Latvia, accounting for a 59% share of total imports. Moreover, fresh pork carcase imports from Belgium exceeded the figures recorded by the second-largest supplier, Lithuania (X tons), threefold. Poland (X tons) ranked third in terms of total imports with a 20% share.

From 2012 to 2022, the average annual growth rate of volume from Belgium stood at +16.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Lithuania (+10.3% per year) and Poland (-7.3% per year).

In value terms, Belgium ($X) constituted the largest supplier of fresh or chilled carcases of pig meat to Latvia, comprising 60% of total imports. The second position in the ranking was held by Lithuania ($X), with a 21% share of total imports. It was followed by Poland, with a 19% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Belgium totaled +16.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Lithuania (+8.0% per year) and Poland (-8.7% per year).

Import Prices by Country

The average fresh pork carcase import price stood at $X per ton in 2022, jumping by 17% against the previous year. Over the period under review, the import price, however, showed a mild setback. Over the period under review, average import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Belgium ($X per ton) and Lithuania ($X per ton), while the price for Estonia ($X per ton) and Germany ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (-0.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform