Market research

Beef and buffalo meat market in Faroe Islands

Release date: Mar 30, 2026

Submission: 15 minutes after payment

Research period: 2017-2025

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File format: docx, xlsx

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Earlier Report Observations

The beef and buffalo meat market in the Faroe Islands showed notable volatility from 2018 to 2023. Market volume expanded from approximately 834 tons in 2018 to a high of 993 tons in 2020, followed by a steep decline to 660 tons in 2022 and a modest rebound to 675 tons in 2023.

This trajectory was largely shaped by import swings, which peaked above 920 tons in 2020 before dropping to 557 tons in 2022. Domestic production, though a smaller component, contributed to the variability, surging to 103 tons in 2022 then easing to 84 tons the next year.

Table of content

1. Disclaimer
2. Terms of use of the report
3. Product codes in the statistical classifications used in the report
4. Key Market Indicators and Trends
1. 4.1. Key Market Indicators
  1. 4.1.1. In kind
    1. 4.1.1.1. Production, 2018-2023
    2. 4.1.1.2. Imports, 2018-2024
    3. 4.1.1.3. Exports, 2018-2024
    4. 4.1.1.4. Market size, 2018-2023
2. 4.2. Market Trends and Factors
5. Production
1. 5.1. Production in Faroe Islands
  1. 5.1.1. Annual dynamics of production in Faroe Islands in kind, 2018-2023, t
  2. 5.1.2. Annual dynamics of production in Faroe Islands in value, 2018-2023, $ US
2. 5.2. Global production by Country, 2018-2023
  1. 5.2.1. Annual dynamics of production by macroregions in kind, 2018-2023, t
  2. 5.2.2. Dynamics of production structure by macroregions in kind, 2018-2023
  3. 5.2.3. Annual dynamics of production by country in kind, 2018-2023, t
  4. 5.2.4. Structure of production by countries in kind, 2018-2023
  5. 5.2.5. Dynamics of peoduction structure by countries in kind, 2018-2023
6. Imports
1. 6.1. Imports (Direct Data*)
  1. 6.1.1. Imports - Total information
  2. 6.1.2. Imports in kind, t
    1. 6.1.2.1. Annual dynamics of product's imports to Faroe Islands in kind, 2018-2024, t
    2. 6.1.2.2. Dynamics of product's imports in kind to Faroe Islands by countries, 2018-2024, t
    3. 6.1.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 6.1.3. Imports in value, K $ US
    1. 6.1.3.1. Annual dynamics of product's imports to Faroe Islands in value, 2018-2024, K $ US
    2. 6.1.3.2. Dynamics of product's imports in value to Faroe Islands by countries, 2018-2024, K $ US
    3. 6.1.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 6.1.4. Average price of product's imports, $ US/kg
    1. 6.1.4.1. Annual dynamics of average price of product's imports to Faroe Islands, 2018-2024, $ US/kg
    2. 6.1.4.2. Dynamics of average price of product's imports to Faroe Islands by countries, 2018-2024, $ US/kg
2. 6.2. Imports (Mirror Data)
  1. 6.2.1. Imports - Total information
  2. 6.2.2. Imports in kind, t
    1. 6.2.2.1. Annual dynamics of product's imports to Faroe Islands in kind, 2018-2024, t
    2. 6.2.2.2. Dynamics of product's imports in kind to Faroe Islands by countries, 2018-2024, t
    3. 6.2.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 6.2.3. Imports in value, K $ US
    1. 6.2.3.1. Annual dynamics of product's imports to Faroe Islands in value, 2018-2024, K $ US
    2. 6.2.3.2. Dynamics of product's imports in value to Faroe Islands by countries, 2018-2024, K $ US
    3. 6.2.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 6.2.4. Average price of product's imports, $ US/kg
    1. 6.2.4.1. Annual dynamics of average price of product's imports to Faroe Islands, 2018-2024, $ US/kg
    2. 6.2.4.2. Dynamics of average price of product's imports to Faroe Islands by countries, 2018-2024, $ US/kg
7. Exports
1. 7.1. Exports (Direct Data*)
  1. 7.1.1. Exports - Total information
  2. 7.1.2. Exports in kind, t
    1. 7.1.2.1. Annual dynamics of product's exports from Faroe Islands in kind, 2018-2024, t
    2. 7.1.2.2. Dynamics of product's exports in kind from Faroe Islands by countries, 2018-2024, t
    3. 7.1.2.3. Structure of product's exports in kind by countries, 2018-2024
  3. 7.1.3. Exports in value, K $ US
    1. 7.1.3.1. Annual dynamics of product's exports from Faroe Islands in value, 2018-2024, K $ US
    2. 7.1.3.2. Dynamics of product's exports in value from Faroe Islands by countries, 2018-2024, K $ US
    3. 7.1.3.3. Structure of product's exports in value by countries, 2018-2024
  4. 7.1.4. Average price of product's exports, $ US/kg
    1. 7.1.4.1. Annual dynamics of average price of product's exports from Faroe Islands, 2018-2024, $ US/kg
    2. 7.1.4.2. Dynamics of average price of product's exports from Faroe Islands by countries, 2018-2024, $ US/kg
2. 7.2. Exports (Mirror Data)
  1. 7.2.1. Exports - Total information
  2. 7.2.2. Exports in kind, t
    1. 7.2.2.1. Annual dynamics of product's exports from Faroe Islands in kind, 2018-2024, t
    2. 7.2.2.2. Dynamics of product's exports in kind from Faroe Islands by countries, 2018-2024, t
    3. 7.2.2.3. Structure of product's exports in kind by countries, 2018-2024
  3. 7.2.3. Exports in value, K $ US
    1. 7.2.3.1. Annual dynamics of product's exports from Faroe Islands in value, 2018-2024, K $ US
    2. 7.2.3.2. Dynamics of product's exports in value from Faroe Islands by countries, 2018-2024, K $ US
    3. 7.2.3.3. Structure of product's exports in value by countries, 2018-2024
  4. 7.2.4. Average price of product's exports, $ US/kg
    1. 7.2.4.1. Annual dynamics of average price of product's exports from Faroe Islands, 2018-2024, $ US/kg
    2. 7.2.4.2. Dynamics of average price of product's exports from Faroe Islands by countries, 2018-2024, $ US/kg
8. Trade balance
1. 8.1. Trade balance (Direct Data)
  1. 8.1.1. In kind, t
  2. 8.1.2. In value, K $ US
2. 8.2. Trade balance (Mirror Data)
  1. 8.2.1. In kind, t
  2. 8.2.2. In value, K $ US
9. Top buying and selling countries, 2018-2024
1. 9.1. Direct Data
  1. 9.1.1. Import in Value by Countries-buyers
  2. 9.1.2. Export in Value by Countries-suppliers
2. 9.2. Mirror Data
  1. 9.2.1. Import in Value by Countries-buyers
  2. 9.2.2. Export in Value by Countries-suppliers

Production beef and buffalo meat in Faroe Islands

In kind, 2017-2020, kg

Top producers of beef and buffalo meat, 2017-2020

Source: SHEV.io

World map of production of beef and buffalo meat, 2017-2020

Source: SHEV.io

In 2019, beef and buffalo meat production in the Faroe Islands hit its lowest point at 50,000 kg. However, by 2020, output surged to 69,000 kg, marking a significant year-on-year increase of 38.0%. Looking at the broader period from 2017 to 2020, production grew by 32.7%, which translates to an annualized growth rate of 9.9%. The most notable decline occurred in 2019, when production fell by 23.1%.

Annual dynamics of production in Faroe Islands in kind, 2017-2020, kg

Parameter		2018	2019	2020	CAGR
1	Change from last year	25.0%	(23.1%)	38.0%	9.9%

Source: SHEV.io

Exports beef and buffalo meat from Faroe Islands

Exports in kind, t

In 2020, the export volume of beef and buffalo meat from the Faroe Islands dropped sharply to 0.2 tonnes, representing a dramatic 96.6% decrease compared to the previous year.

Annual dynamics of product's exports from Faroe Islands in kind, 2017-2020, t

Parameter		2018	2019	2020	CAGR
1	Change from last year	n/a	n/a	(96.6%)	-

Source: SHEV.io

From 2017 to 2020, Czechia was the primary destination for beef and buffalo meat exports from the Faroe Islands, consistently accounting for 100.0% of total exports in volume terms.

Structure of product's exports in kind by countries, 2017-2020

Source: SHEV.io

World map of product's exports from Faroe Islands in kind, 2017-2020

Source: SHEV.io

Exports in value, K $ US

In 2020, the value of beef and buffalo meat exports from the Faroe Islands fell to 2,000 US dollars, down by 96.4% from 2019.

Annual dynamics of product's exports from Faroe Islands in value, 2017-2020, K $ US

Parameter		2018	2019	2020	CAGR
1	Change from last year	n/a	n/a	(96.4%)	-

Source: SHEV.io

Between 2017 and 2020, the export value pattern showed a strong reliance on Czechia, which absorbed 100.0% of total export flows.

Structure of product's exports in value by countries, 2017-2020

Source: SHEV.io

World map of product's exports from Faroe Islands in value, 2017-2020

Source: SHEV.io

Imports beef and buffalo meat to Faroe Islands

Imports in kind, t

Beef and buffalo meat imports into the Faroe Islands continued to rise for the third year in a row in 2020, reaching 924.1 tonnes—an 11.1% increase over 2019. Over the 2017-2020 period, imports grew by 21.6%, with a compound annual growth rate of 6.7%.

Annual dynamics of product's imports to Faroe Islands in kind, 2017-2020, t

Parameter		2018	2019	2020	CAGR
1	Change from last year	1.1%	8.2%	11.1%	6.7%

Source: SHEV.io

From 2017 to 2020, Denmark and New Zealand dominated beef and buffalo meat imports into the Faroe Islands in volume terms, together making up 86.9% of total imports. Denmark accounted for 47.1% and New Zealand for 39.9%, while other partners supplied the remainder.

Structure of product's imports in kind by countries, 2017-2020

Source: SHEV.io

World map of product's imports to Faroe Islands in kind, 2017-2020

Source: SHEV.io

Imports in value, K $ US

In 2020, the value of beef and buffalo meat imports into the Faroe Islands reached 6,741,000 US dollars, showing a strong 14.3% rise compared to 2019. Between 2017 and 2020, import value increased by 18.6%, equivalent to an annualized rate of 5.9%. The largest decline was recorded in 2019, when imports fell by 5.8%.

Annual dynamics of product's imports to Faroe Islands in value, 2017-2020, K $ US

Parameter		2018	2019	2020	CAGR
1	Change from last year	10.1%	(5.8%)	14.3%	5.9%

Source: SHEV.io

Between 2017 and 2020, Denmark and New Zealand together represented 90.5% of total import value for beef and buffalo meat into the Faroe Islands. Other countries contributed to a more diversified but less significant portion of imports.

Structure of product's imports in value by countries, 2017-2020

Source: SHEV.io

World map of product's imports to Faroe Islands in value, 2017-2020

Source: SHEV.io