Latvia - Butter - Market Analysis, Forecast, Size, Trends and Insights
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View PricingButter Price in Latvia - 2023
Contents:
- Butter Price in Latvia (CIF) - 2023
- Butter Price in Latvia (FOB) - 2023
- Butter Imports in Latvia
- Butter Exports in Latvia
Butter Price in Latvia (CIF) - 2023
In September 2023, the average butter import price amounted to $5,733 per ton, shrinking by -13.7% against the previous month. In general, the import price saw a mild reduction. The growth pace was the most rapid in August 2023 when the average import price increased by 14% m-o-m. Over the period under review, average import prices hit record highs at $7,034 per ton in November 2022; however, from December 2022 to September 2023, import prices stood at a somewhat lower figure.
Average prices varied noticeably amongst the major supplying countries. In September 2023, the country with the highest price was Estonia ($6,799 per ton), while the price for Poland ($5,580 per ton) was amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by the Netherlands (+1.1%), while the prices for the other major suppliers experienced a decline.
Butter Price in Latvia (FOB) - 2023
In September 2023, the average butter export price amounted to $5,539 per ton, surging by 5.5% against the previous month. Overall, the export price, however, continues to indicate a mild shrinkage. The most prominent rate of growth was recorded in November 2022 when the average export price increased by 17% against the previous month. As a result, the export price reached the peak level of $7,416 per ton. From December 2022 to September 2023, the the average export prices remained at a lower figure.
Average prices varied noticeably for the major overseas markets. In September 2023, the country with the highest price was Estonia ($5,805 per ton), while the average price for exports to Germany ($4,988 per ton) was amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to Lithuania (-1.7%), while the prices for the other major destinations experienced a decline.
Butter Imports in Latvia
In 2022, supplies from abroad of butter decreased by -4.6% to 4.4K tons, falling for the second consecutive year after two years of growth. The total import volume increased at an average annual rate of +2.7% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when imports increased by 16% against the previous year. As a result, imports reached the peak of 4.7K tons. From 2021 to 2022, the growth of imports failed to regain momentum.
In value terms, butter imports skyrocketed to $28M in 2022. Overall, total imports indicated a strong expansion from 2019 to 2022: its value increased at an average annual rate of +13.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +44.3% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Butter in Latvia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Poland | 8.9 | 8.8 | 13.2 | 20.1 | 31.2% |
| Lithuania | 5.5 | 5.1 | 5.4 | 4.1 | -9.3% |
| Estonia | 0.8 | 3.0 | 2.1 | 3.0 | 55.4% |
| Finland | N/A | N/A | N/A | 0.7 | 0% |
| Netherlands | 2.8 | 1.4 | 0.7 | 0.1 | -67.1% |
| Germany | 1.5 | 1.2 | 0.2 | N/A | -63.5% |
| Others | 0.2 | 0.1 | 1.2 | 0.3 | 14.5% |
| Total | 19.7 | 19.7 | 22.7 | 28.4 | 13.0% |
Top Suppliers of Butter to Latvia in 2022:
- Poland (3188.8 tons)
- Lithuania (585.7 tons)
- Estonia (429.8 tons)
- Finland (108.5 tons)
- Netherlands (22.0 tons)
- Germany (5.2 tons)
Butter Exports in Latvia
In 2022, exports of butter from Latvia skyrocketed to 679 tons, growing by 51% on the previous year's figure. Overall, total exports indicated measured growth from 2019 to 2022: its volume increased at an average annual rate of +3.6% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -24.6% against 2020 indices.
In value terms, butter exports skyrocketed to $4.3M in 2022. In general, total exports indicated resilient growth from 2019 to 2022: its value increased at an average annual rate of +12.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Butter in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Estonia | 692 | 1,494 | 1,041 | 2,701 | 57.4% |
| Lithuania | 726 | 1,027 | 830 | 695 | -1.4% |
| Germany | 104 | 491 | 41.6 | 337 | 48.0% |
| Netherlands | 0.1 | N/A | 0.5 | 324 | 1379.7% |
| Poland | 71.1 | 34.0 | 100 | 133 | 23.2% |
| Ukraine | N/A | 495 | 167 | 28.9 | -75.8% |
| Kazakhstan | 510 | 152 | N/A | N/A | -70.2% |
| France | 429 | N/A | N/A | N/A | 0% |
| Israel | 309 | N/A | N/A | N/A | 0% |
| Others | 139 | 159 | 92.7 | 74.3 | -18.8% |
| Total | 2,980 | 3,852 | 2,272 | 4,293 | 12.9% |
Top Export Markets for Butter from Latvia in 2022:
- Estonia (448.3 tons)
- Lithuania (104.5 tons)
- Germany (48.2 tons)
- Netherlands (44.1 tons)
- Poland (20.9 tons)
- Ukraine (3.7 tons)
This report provides an in-depth analysis of the butter market in Latvia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 886 - Butter of Cow Milk
Country coverage:
- Latvia
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Latvia
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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This report provides an in-depth analysis of the butter market in Latvia.
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This report provides an in-depth analysis of the butter and ghee market in Latvia.
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This report provides an in-depth analysis of the market for butter and dairy spreads in Latvia.
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This report provides an in-depth analysis of the ghee market in Latvia.
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This report provides an in-depth analysis of the dairy produce market in Latvia.
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This report provides an in-depth analysis of the dairy spread market in Latvia.
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This report provides an in-depth analysis of the global butter market.
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This report provides an in-depth analysis of the global butter and ghee market.
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This report provides an in-depth analysis of the global market for butter and dairy spreads.
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This report provides an in-depth analysis of the global ghee market.
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This year global butter production is anticipated to keep up with ha last year, amounting to 5.6M tons. The EU is forecast to decrease butter exports due to a slight drop in production amid an increase in demand. Butter exports from New Zealand are not forecast to grow due to increased competition with UHT cream for food service being increasingly in demand.
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The global trade in butter amounted to X million USD in 2015, fluctuating wildly over the period under review. A significant drop in 2009 was followed by a recovery over the next two years, until exports decreased again
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New Zealand continued its dominance in the global butter trade. In 2014, New Zealand exported X thousand tons of butter totaling X million USD, X% over the previous year. Its primary trading partner was China, where it supplied X% of its tota
7812
Global butter and ghee consumption amounted to X thousand tons in 2015, remaining constant against the previous year level.
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Global butter and ghee exports amounted to X thousand tons in 2015, coming down by -X% against the previous year level.
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Global butter and ghee imports amounted to X thousand tons in 2015, descending by -X% against the previous year level.
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In 2015, the countries with the highest levels of butter and ghee production were Turkey (X thousand tons), Iran (X thousand tons), Syria (X thousand tons), together accounting for X% of total output.
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The global butter and ghee market fluctuated wildly, finally rising from X billion USD in 2007 to X billion USD in 2015.
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The market of butter and ghee fluctuated wildly, finally rising from X billion USD in 2007 to X billion USD in 2015. Over the last year, the market dropped by X% in value terms.
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New Zealand seized control of the butter and ghee market. In 2014, New Zealand exported X thousand tons of butter and ghee totaling X USD, X% over the previous year. Its primary trading partner was China, where it supplied X% of its total but
