Lithuania: Fresh Beef Carcase Market 2024

Fresh Beef Carcase Market Size in Lithuania

In 2022, the Lithuanian fresh beef carcase market increased by 31% to $X, rising for the third year in a row after three years of decline. Over the period under review, consumption, however, showed a perceptible downturn. 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 Lithuania

In value terms, fresh beef carcase production skyrocketed to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Fresh Beef Carcase Exports

Exports from Lithuania

In 2022, the amount of fresh or chilled carcases of beef and veal exported from Lithuania reached X tons, with an increase of 7.4% compared with the year before. In general, total exports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +12.2% against 2020 indices. The pace of growth was the most pronounced in 2014 when exports increased by 35% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, fresh beef carcase exports skyrocketed to $X in 2022. Over the period under review, total exports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +7.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +56.3% against 2020 indices. The most prominent rate of growth was recorded in 2014 when exports increased by 26%. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

The Netherlands (X tons), Italy (X tons) and Denmark (X tons) were the main destinations of fresh beef carcase exports from Lithuania, together comprising 74% of total exports. Germany, Poland, Sweden and Latvia lagged somewhat behind, together accounting for a further 23%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Latvia (with a CAGR of +64.3%), while the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), the Netherlands ($X) and Denmark ($X) constituted the largest markets for fresh beef carcase exported from Lithuania worldwide, together accounting for 75% of total exports. Germany, Sweden, Poland and Latvia lagged somewhat behind, together comprising a further 22%.

Among the main countries of destination, Latvia, with a CAGR of +64.1%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average fresh beef carcase export price amounted to $X per ton, with an increase of 16% against the previous year. Over the last decade, it increased at an average annual rate of +2.0%. The most prominent rate of growth was recorded in 2021 an increase of 20%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Italy ($X per ton) and Latvia ($X per ton), while the average price for exports to Poland ($X per ton) and Denmark ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Sweden (+3.9%), while the prices for the other major destinations experienced more modest paces of growth.

Fresh Beef Carcase Imports

Imports into Lithuania

In 2022, supplies from abroad of fresh or chilled carcases of beef and veal increased by 36% to X tons, rising for the seventh consecutive year after two years of decline. In general, imports saw significant growth. The most prominent rate of growth was recorded in 2018 with an increase of 1,807%. Imports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, fresh beef carcase imports soared to $X in 2022. Overall, imports recorded significant growth. The growth pace was the most rapid in 2018 when imports increased by 1,249%. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2022, Poland (X tons) constituted the largest supplier of fresh beef carcase to Lithuania, with a 78% share of total imports. Moreover, fresh beef carcase imports from Poland exceeded the figures recorded by the second-largest supplier, Denmark (X tons), fourfold. The third position in this ranking was taken by Latvia (X tons), with a 0.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Poland totaled +53.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (+23.6% per year) and Latvia (-20.4% per year).

In value terms, Poland ($X) constituted the largest supplier of fresh or chilled carcases of beef and veal to Lithuania, comprising 78% of total imports. The second position in the ranking was taken by Denmark ($X), with a 20% share of total imports. It was followed by Latvia, with a 0.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Poland stood at +53.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (+29.3% per year) and Latvia (-17.7% per year).

Import Prices by Country

The average fresh beef carcase import price stood at $X per ton in 2022, rising by 27% against the previous year. Over the period under review, import price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, fresh beef carcase import price increased by +45.5% against 2020 indices. The most prominent rate of growth was recorded in 2015 when the average import price increased by 37% against the previous year. As a result, import price reached the peak level of $X per ton. From 2016 to 2022, the average import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (+8.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform