Luxembourg: Market for Prepared Or Preserved Shoulders And Cuts Of Swine Meat 2024

Market Size for Prepared Or Preserved Shoulders And Cuts Of Swine Meat in Luxembourg

The Luxembourg preserved swine meat cut market declined slightly to $X in 2021, waning by -2.1% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption showed a pronounced reduction. The pace of growth appeared the most rapid in 2017 when the market value increased by 8%. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Exports of Prepared Or Preserved Shoulders And Cuts Of Swine Meat

Exports from Luxembourg

In 2021, overseas shipments of prepared or preserved shoulders and cuts of swine meat were finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Overall, total exports indicated a modest expansion from 2012 to 2021: its volume increased at an average annual rate of +1.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -39.3% against 2017 indices. The pace of growth was the most pronounced in 2013 when exports increased by 27%. Over the period under review, the exports reached the peak figure at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, preserved swine meat cut exports skyrocketed to $X in 2021. In general, total exports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -24.5% against 2017 indices. The pace of growth appeared the most rapid in 2013 with an increase of 42% against the previous year. Over the period under review, the exports attained the maximum at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

Belgium (X tons) was the main destination for preserved swine meat cut exports from Luxembourg, accounting for a 86% share of total exports. Moreover, preserved swine meat cut exports to Belgium exceeded the volume sent to the second major destination, France (X tons), tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Belgium totaled +1.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-6.9% per year) and Germany (+23.7% per year).

In value terms, Belgium ($X) remains the key foreign market for prepared or preserved shoulders and cuts of swine meat exports from Luxembourg, comprising 88% of total exports. The second position in the ranking was taken by France ($X), with an 8.3% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Belgium totaled +7.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-2.7% per year) and Germany (+24.7% per year).

Export Prices by Country

The average preserved swine meat cut export price stood at $X per ton in 2021, picking up by 15% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +5.0%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to Germany ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+5.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Prepared Or Preserved Shoulders And Cuts Of Swine Meat

Imports into Luxembourg

In 2021, purchases abroad of prepared or preserved shoulders and cuts of swine meat decreased by -5.4% to X tons, falling for the third consecutive year after two years of growth. In general, imports recorded a pronounced decrease. The most prominent rate of growth was recorded in 2014 with an increase of 16% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, preserved swine meat cut imports stood at $X in 2021. Overall, imports recorded a perceptible decrease. The pace of growth was the most pronounced in 2017 with an increase of 12% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Belgium (X tons) constituted the largest preserved swine meat cut supplier to Luxembourg, with a 89% share of total imports. Moreover, preserved swine meat cut imports from Belgium exceeded the figures recorded by the second-largest supplier, Portugal (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from Belgium stood at -3.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Portugal (+28.8% per year) and France (-13.4% per year).

In value terms, Belgium ($X) constituted the largest supplier of prepared or preserved shoulders and cuts of swine meat to Luxembourg, comprising 88% of total imports. The second position in the ranking was held by France ($X), with a 5.7% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Belgium was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: France (-11.7% per year) and Portugal (+33.6% per year).

Import Prices by Country

The average preserved swine meat cut import price stood at $X per ton in 2021, increasing by 6.1% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.3%. The most prominent rate of growth was recorded in 2016 when the average import price increased by 35% against the previous year. Over the period under review, average import prices attained the maximum in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was France ($X per ton), while the price for Portugal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Portugal (+3.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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