Latvia - Chilies And Peppers (Green) - Market Analysis, Forecast, Size, Trends and Insights
Report Update: May 1, 2024

Latvia - Chilies And Peppers (Green) - Market Analysis, Forecast, Size, Trends and Insights

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Chili and Pepper Price in Latvia - 2023

Contents:

  1. Chili and Pepper Price in Latvia (CIF) - 2023
  2. Chili and Pepper Price in Latvia (FOB) - 2023
  3. Chili and Pepper Imports in Latvia
  4. Chili and Pepper Exports in Latvia

Chili and Pepper Price in Latvia (CIF) - 2023

In August 2023, the average chili and pepper import price amounted to $1,589 per ton, dropping by -4.3% against the previous month. Overall, the import price, however, showed a modest expansion. The growth pace was the most rapid in February 2023 when the average import price increased by 29% month-to-month. The import price peaked at $3,634 per ton in April 2023; however, from May 2023 to August 2023, import prices remained at a lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was Spain ($4,026 per ton), while the price for Poland ($1,381 per ton) was amongst the lowest.

From August 2022 to August 2023, the most notable rate of growth in terms of prices was attained by the Netherlands (+3.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Chili and Pepper Price in Latvia (FOB) - 2023

In August 2023, the average chili and pepper export price amounted to $2,055 per ton, shrinking by -6.5% against the previous month. In general, the export price, however, enjoyed a mild increase. The pace of growth was the most pronounced in March 2023 when the average export price increased by 25% m-o-m. As a result, the export price reached the peak level of $4,193 per ton. From April 2023 to August 2023, the the average export prices failed to regain momentum.

Average prices varied noticeably for the major export markets. In August 2023, the country with the highest price was Lithuania ($2,255 per ton), while the average price for exports to Estonia amounted to $1,991 per ton.

From August 2022 to August 2023, the most notable rate of growth in terms of prices was recorded for supplies to Lithuania (+2.0%).

Chili and Pepper Imports in Latvia

In 2022, after three years of growth, there was decline in supplies from abroad of chilies and peppers (green), when their volume decreased by -2.9% to 6.7K tons. The total import volume increased at an average annual rate of +3.5% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 when imports increased by 11%.

In value terms, chili and pepper imports reached $12M in 2022. The total import value increased at an average annual rate of +7.1% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 when imports increased by 15%. Imports peaked in 2022 and are likely to see gradual growth in the near future.

Import of Chili and Pepper in Latvia (Million USD)
COUNTRY2019202020212022CAGR,
2019-2022
Netherlands3.33.74.14.17.5%
Spain4.55.04.93.6-7.2%
Poland1.41.91.82.012.6%
GermanyN/AN/A0.31.1266.7%
Turkey0.10.10.50.8100.0%
Lithuania0.50.50.40.4-7.2%
AlbaniaN/AN/AN/A0.20%
Others0.20.30.30.20.0%
Total10.011.512.212.37.1%

Top Suppliers of Chili and Pepper to Latvia in 2022:

  1. Netherlands (1992.9 tons)
  2. Spain (1724.5 tons)
  3. Poland (1594.8 tons)
  4. Turkey (628.6 tons)
  5. Germany (356.1 tons)
  6. Lithuania (177.3 tons)
  7. Albania (126.2 tons)

Chili and Pepper Exports in Latvia

For the fourth year in a row, Latvia recorded growth in shipments abroad of chilies and peppers (green), which increased by 1.7% to 1.7K tons in 2022. The total export volume increased at an average annual rate of +9.0% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by 14% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, chili and pepper exports declined to $4M in 2022. Over the period under review, total exports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +13.7% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +46.9% against 2019 indices. The pace of growth appeared the most rapid in 2021 with an increase of 27% against the previous year. As a result, the exports attained the peak of $4.1M, leveling off in the following year.

Export of Chili and Pepper in Latvia (Million USD)
COUNTRY2019202020212022CAGR,
2019-2022
Estonia2.02.22.62.811.9%
Lithuania0.70.91.41.219.7%
SpainN/AN/AN/A0.10%
OthersN/AN/AN/AN/A0%
Total2.73.24.14.014.0%

Top Export Markets for Chili and Pepper from Latvia in 2022:

  1. Estonia (1195.1 tons)
  2. Lithuania (436.2 tons)
  3. Spain (27.1 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the chili and pepper 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 401 - Chillies and peppers (green)

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:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. 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.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS
  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030
  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT
  5. 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
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. COUNTRIES WITH TOP YIELDS
    4. TOP EXPORTING COUNTRIES
    5. LOW-COST EXPORTING COUNTRIES
  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS
  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION, HARVESTED AREA AND YIELD
  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY
  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY
  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
  11. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption In 2012-2023
    5. Imports, In Physical Terms, By Country, 2012–2023
    6. Imports, In Value Terms, By Country, 2012–2023
    7. Import Prices, By Country Of Origin, 2012–2023
    8. Exports, In Physical Terms, By Country, 2012–2023
    9. Exports, In Value Terms, By Country, 2012–2023
    10. Export Prices, By Country Of Destination, 2012–2023
  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
    5. Trade Balance, In Physical Terms, 2012-2023
    6. Trade Balance, In Value Terms, 2012-2023
    7. Per Capita Consumption, 2012-2023
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Yield And Growth
    16. Exports And Growth
    17. Export Prices And Growth
    18. Market Size And Growth
    19. Per Capita Consumption
    20. Imports And Growth
    21. Import Prices
    22. Production, In Physical Terms, 2012–2023
    23. Production, In Value Terms, 2012–2023
    24. Area Harvested, 2012–2023
    25. Yield, 2012–2023
    26. Imports, In Physical Terms, 2012–2023
    27. Imports, In Value Terms, 2012–2023
    28. Imports, In Physical Terms, By Country, 2023
    29. Imports, In Physical Terms, By Country, 2012–2023
    30. Imports, In Value Terms, By Country, 2012–2023
    31. Import Prices, By Country Of Origin, 2012–2023
    32. Exports, In Physical Terms, 2012–2023
    33. Exports, In Value Terms, 2012–2023
    34. Exports, In Physical Terms, By Country, 2023
    35. Exports, In Physical Terms, By Country, 2012–2023
    36. Exports, In Value Terms, By Country, 2012–2023
    37. Export Prices, By Country Of Destination, 2012–2023
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