Lithuania: Market for Fresh Or Chilled Cuts Of Turkey 2024

Market Size for Fresh Or Chilled Cuts Of Turkey in Lithuania

In 2022, the Lithuanian market for fresh or chilled cuts of turkey decreased by -8.9% to $X, falling for the second year in a row after five years of growth. Over the period under review, consumption, however, enjoyed measured growth. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Fresh Or Chilled Cuts Of Turkey in Lithuania

In value terms, fresh or chilled turkey cut production soared to $X in 2022 estimated in export price. Over the period under review, production showed a noticeable downturn. The growth pace was the most rapid in 2014 when the production volume increased by 41%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Exports of Fresh Or Chilled Cuts Of Turkey

Exports from Lithuania

In 2022, fresh or chilled turkey cut exports from Lithuania contracted to X tons, dropping by -12% compared with the year before. In general, exports saw a perceptible setback. The most prominent rate of growth was recorded in 2021 when exports increased by 119% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, fresh or chilled turkey cut exports soared to $X in 2022. Overall, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 228% against the previous year. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Latvia (X tons) was the main destination for fresh or chilled turkey cut exports from Lithuania, with a 49% share of total exports. Moreover, fresh or chilled turkey cut exports to Latvia exceeded the volume sent to the second major destination, Sweden (X tons), threefold. Finland (X tons) ranked third in terms of total exports with a 10% share.

From 2012 to 2022, the average annual growth rate of volume to Latvia amounted to -1.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+53.9% per year) and Finland (+79.8% per year).

In value terms, Latvia ($X) emerged as the key foreign market for fresh or chilled cuts of turkey exports from Lithuania, comprising 50% of total exports. The second position in the ranking was held by Finland ($X), with a 13% share of total exports. It was followed by Sweden, with a 10% share.

From 2012 to 2022, the average annual growth rate of value to Latvia amounted to +2.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Finland (+79.5% per year) and Sweden (+50.0% per year).

Export Prices by Country

In 2022, the average export price for fresh or chilled cuts of turkey amounted to $X per ton, with an increase of 38% against the previous year. Over the period under review, export price indicated temperate 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. Based on 2022 figures, fresh or chilled turkey cut export price increased by +105.9% against 2020 indices. The pace of growth appeared the most rapid in 2021 when the average export price increased by 50% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Estonia ($X per ton), while the average price for exports to the Netherlands ($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 Croatia (+10.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Fresh Or Chilled Cuts Of Turkey

Imports into Lithuania

In 2022, purchases abroad of fresh or chilled cuts of turkey decreased by -30% to X tons, falling for the second consecutive year after five years of growth. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when imports increased by 41%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, fresh or chilled turkey cut imports declined to $X in 2022. Overall, imports, however, posted strong growth. The most prominent rate of growth was recorded in 2019 when imports increased by 67%. Over the period under review, imports reached the maximum at $X in 2021, and then shrank in the following year.

Imports by Country

In 2022, Poland (X tons) was the main supplier of fresh or chilled turkey cut to Lithuania, accounting for a 97% share of total imports. It was followed by Latvia (X tons), with a 2.3% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from Poland was relatively modest.

In value terms, Poland ($X) constituted the largest supplier of fresh or chilled cuts of turkey to Lithuania, comprising 96% of total imports. The second position in the ranking was taken by Latvia ($X), with a 3.5% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Poland totaled +6.6%.

Import Prices by Country

The average import price for fresh or chilled cuts of turkey stood at $X per ton in 2022, surging by 32% against the previous year. Overall, import price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of +7.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, fresh or chilled turkey cut import price increased by +118.4% against 2015 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Latvia ($X per ton), while the price for Poland stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+7.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform