Latvia - Frozen Fish Fillet - Market Analysis, Forecast, Size, Trends and Insights
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View PricingFrozen Fish Fillet Price in Latvia - 2023
Contents:
- Frozen Fish Fillet Price in Latvia (FOB) - 2023
- Frozen Fish Fillet Price in Latvia (CIF) - 2023
- Frozen Fish Fillet Exports in Latvia
- Frozen Fish Fillet Imports in Latvia
Frozen Fish Fillet Price in Latvia (FOB) - 2023
In August 2023, the average frozen fish fillet export price amounted to $12,581 per ton, with a decrease of -2.1% against the previous month. Over the period from August 2022 to August 2023, it increased at an average monthly rate of +2.2%. The pace of growth was the most pronounced in February 2023 when the average export price increased by 30% month-to-month. The export price peaked at $12,849 per ton in July 2023, and then reduced modestly in the following month.
There were significant differences in the average prices for the major foreign markets. In August 2023, the country with the highest price was Canada ($16,607 per ton), while the average price for exports to the UK ($6,567 per ton) was amongst the lowest.
From August 2022 to August 2023, the most notable rate of growth in terms of prices was recorded for supplies to Estonia (+5.9%), while the prices for the other major destinations experienced more modest paces of growth.
Frozen Fish Fillet Price in Latvia (CIF) - 2023
The average frozen fish fillet import price stood at $3,692 per ton in August 2023, remaining stable against the previous month. Overall, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in March 2023 an increase of 20% m-o-m. The import price peaked at $3,978 per ton in December 2022; however, from January 2023 to August 2023, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In August 2023, the country with the highest price was Iceland ($9,194 per ton), while the price for Ireland ($1,873 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 UK (+6.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Frozen Fish Fillet Exports in Latvia
In 2022, exports of frozen fish fillet from Latvia rose sharply to 5.8K tons, picking up by 10% compared with the year before. The total export volume increased at an average annual rate of +8.4% 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 31% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in the near future.
In value terms, frozen fish fillet exports rose remarkably to $46M in 2022. Over the period under review, total exports indicated a strong expansion from 2019 to 2022: its value increased at an average annual rate of +12.1% 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 increased by +44.2% against 2020 indices. The pace of growth was the most pronounced in 2021 when exports increased by 26%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the near future.
Export of Frozen Fish Fillet in Latvia (Million USD) | |||||
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COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
United States | 2.0 | 4.6 | 8.2 | 16.7 | 102.9% |
Norway | 15.1 | 13.6 | 16.2 | 8.6 | -17.1% |
Lithuania | 2.9 | 2.3 | 3.6 | 4.9 | 19.1% |
United Kingdom | 5.0 | 5.6 | 4.4 | 4.5 | -3.5% |
France | 1.7 | 1.8 | 2.6 | 2.3 | 10.6% |
Netherlands | 0.3 | 0.2 | 0.4 | 2.1 | 91.3% |
Poland | 0.1 | 0.1 | 1.2 | 2.0 | 171.4% |
Estonia | 0.7 | 1.0 | 0.9 | 1.4 | 26.0% |
Others | 4.5 | 2.6 | 2.5 | 3.1 | -11.7% |
Total | 32.5 | 31.7 | 39.9 | 45.7 | 12.0% |
Top Export Markets for Frozen Fish Fillet from Latvia in 2022:
- United States (1413.0 tons)
- Lithuania (904.8 tons)
- Netherlands (659.6 tons)
- Norway (623.3 tons)
- United Kingdom (575.2 tons)
- France (424.2 tons)
- Poland (323.7 tons)
- Estonia (314.0 tons)
Frozen Fish Fillet Imports in Latvia
In 2022, purchases abroad of frozen fish fillet decreased by -2.3% to 4.5K tons, falling for the second year in a row after two years of growth. The total import volume increased at an average annual rate of +2.8% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of 36%. As a result, imports reached the peak of 5.7K tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
In value terms, frozen fish fillet imports fell to $15M in 2022. The total import value increased at an average annual rate of +3.9% over the period from 2019 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of 14%.
Import of Frozen Fish Fillet in Latvia (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Lithuania | 2.4 | 4.2 | 4.0 | 2.7 | 4.0% |
Netherlands | 0.9 | 0.8 | 1.5 | 2.4 | 38.7% |
Norway | 0.6 | 0.8 | 0.6 | 2.1 | 51.8% |
Denmark | 0.9 | 0.9 | 0.9 | 1.0 | 3.6% |
Poland | 1.0 | 0.6 | 0.5 | 1.0 | 0.0% |
Argentina | 0.4 | 0.5 | 0.3 | 0.8 | 26.0% |
Estonia | 1.4 | 0.8 | 1.2 | 0.7 | -20.6% |
Sweden | 0.5 | 1.3 | 1.4 | 0.7 | 11.9% |
China | 1.3 | 0.6 | 0.9 | 0.6 | -22.7% |
Spain | 0.9 | 0.8 | 1.5 | 0.6 | -12.6% |
United Kingdom | 0.6 | 1.7 | 0.7 | 0.4 | -12.6% |
Iceland | 0.8 | 1.1 | 0.8 | 0.4 | -20.6% |
Vietnam | 0.4 | 0.2 | 0.1 | 0.4 | 0.0% |
Others | 1.5 | 1.0 | 1.5 | 1.3 | -4.7% |
Total | 13.4 | 15.2 | 15.9 | 15.0 | 3.8% |
Top Suppliers of Frozen Fish Fillet to Latvia in 2022:
- Norway (1067.2 tons)
- Lithuania (909.1 tons)
- Netherlands (566.8 tons)
- Sweden (294.4 tons)
- United Kingdom (263.4 tons)
- Estonia (259.2 tons)
- Argentina (216.0 tons)
- China (203.0 tons)
- Poland (164.1 tons)
- Denmark (128.2 tons)
- Vietnam (114.3 tons)
- Spain (86.0 tons)
- Iceland (64.3 tons)
This report provides an in-depth analysis of the frozen fish fillet 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:
- Prodcom 10201400 - Frozen fish fillets
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
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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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