Lithuania: Turkey Meat Market 2024

Turkey Meat Market Size in Lithuania

The Lithuanian turkey meat market was finally on the rise to reach $X in 2022, after four years of decline. The market value increased at an average annual rate of +1.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Turkey Meat Production in Lithuania

In value terms, turkey meat production contracted notably to $X in 2022 estimated in export price. Over the period under review, production, however, saw a abrupt downturn. The most prominent rate of growth was recorded in 2021 with an increase of 88% against the previous year. Turkey meat production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

In 2022, the average turkey meat yield in Lithuania amounted to X kg per head, flattening at 2021 figures. Overall, the yield saw a perceptible slump. The pace of growth was the most pronounced in 2014 when the yield increased by 5.1%. The turkey meat yield peaked at X kg per head in 2016; however, from 2017 to 2022, the yield failed to regain momentum.

The number of animals slaughtered for turkey meat production in Lithuania rose markedly to X heads in 2022, surging by 14% against the previous year's figure. In general, the number of producing animals, however, recorded a drastic downturn. The growth pace was the most rapid in 2016 when the number of producing animals increased by 20%. The number of animals slaughtered for turkey meat production peaked at X heads in 2017; however, from 2018 to 2022, producing animals remained at a lower figure.

Turkey Meat Exports

Exports from Lithuania

In 2022, exports of turkey meat from Lithuania fell sharply to X tons, which is down by -29.5% against 2021. Over the period under review, exports saw a drastic downturn. The most prominent rate of growth was recorded in 2014 with an increase of 48%. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, turkey meat exports soared to $X in 2022. Overall, exports continue to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2021 with an increase of 56%. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Latvia (X tons) was the main destination for turkey meat exports from Lithuania, with a 37% share of total exports. Moreover, turkey meat exports to Latvia exceeded the volume sent to the second major destination, Estonia (X tons), twofold. Spain (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Latvia totaled -4.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (-5.3% per year) and Spain (+61.9% per year).

In value terms, the largest markets for turkey meat exported from Lithuania were Latvia ($X), Estonia ($X) and Finland ($X), with a combined 72% share of total exports. Croatia, Sweden, Poland, Spain and Belgium lagged somewhat behind, together accounting for a further 24%.

In terms of the main countries of destination, Croatia, with a CAGR of +241.6%, saw the highest rates of growth with regard to 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 turkey meat export price amounted to $X per ton, picking up by 81% against the previous year. In general, export price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, turkey meat export price increased by +187.2% against 2020 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Finland ($X per ton), while the average price for exports to Spain ($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 Russia (+36.0%), while the prices for the other major destinations experienced more modest paces of growth.

Turkey Meat Imports

Imports into Lithuania

In 2022, overseas purchases of turkey meat decreased by -8% to X tons, falling for the second year in a row after two years of growth. Over the period under review, total imports indicated a perceptible expansion from 2012 to 2022: its volume increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -22.3% against 2020 indices. The growth pace was the most rapid in 2016 when imports increased by 43%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, turkey meat imports expanded remarkably to $X in 2022. In general, imports, however, posted a strong expansion. The most prominent rate of growth was recorded in 2016 with an increase of 44%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Poland (X tons) constituted the largest supplier of turkey meat to Lithuania, accounting for a 74% share of total imports. Moreover, turkey meat imports from Poland exceeded the figures recorded by the second-largest supplier, Spain (X tons), ninefold. The third position in this ranking was held by Finland (X tons), with a 5.9% share.

From 2012 to 2022, the average annual growth rate of volume from Poland was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+56.9% per year) and Finland (+5.3% per year).

In value terms, Poland ($X) constituted the largest supplier of turkey meat to Lithuania, comprising 85% of total imports. The second position in the ranking was taken by Spain ($X), with a 4.4% share of total imports. It was followed by Finland, with a 3.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Poland totaled +7.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+43.0% per year) and Finland (+6.8% per year).

Import Prices by Country

In 2022, the average turkey meat import price amounted to $X per ton, growing by 21% against the previous year. In general, import price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, turkey meat import price increased by +46.5% against 2020 indices. As a result, import price reached 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 ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Latvia (+15.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform