Milled Rice Price in Latvia - 2023
Contents:
- Milled Rice Price in Latvia (CIF) - 2023
- Milled Rice Price in Latvia (FOB) - 2023
- Milled Rice Imports in Latvia
- Milled Rice Exports in Latvia
Milled Rice Price in Latvia (CIF) - 2023
In September 2023, the average milled rice import price amounted to $1,028 per ton, reducing by -14.3% against the previous month. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in November 2022 when the average import price increased by 32% against the previous month. The import price peaked at $1,229 per ton in April 2023; however, from May 2023 to September 2023, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In September 2023, the country with the highest price was Italy ($2,687 per ton), while the price for Thailand ($605 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 Spain (+12.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Milled Rice Price in Latvia (FOB) - 2023
In September 2023, the average milled rice export price amounted to $1,462 per ton, surging by 20% against the previous month. Over the last twelve-month period, it increased at an average monthly rate of +1.7%. The most prominent rate of growth was recorded in October 2022 an increase of 29% m-o-m. The export price peaked at $1,623 per ton in April 2023; however, from May 2023 to September 2023, the export prices stood at a somewhat lower figure.
Average prices varied noticeably for the major external markets. In September 2023, the country with the highest price was the UK ($1,673 per ton), while the average price for exports to Lithuania ($1,412 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 Estonia (+2.5%), while the prices for the other major destinations experienced mixed trend patterns.
Milled Rice Imports in Latvia
In 2022, milled rice imports into Latvia surged to 8.4K tons, picking up by 33% compared with the year before. The total import volume increased at an average annual rate of +5.3% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, milled rice imports skyrocketed to $8.4M in 2022. In general, total imports indicated a strong expansion from 2019 to 2022: its value increased at an average annual rate of +15.5% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +53.9% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Milled Rice in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Italy | 1,839 | 1,965 | 1,731 | 2,398 | 9.3% |
| Lithuania | 1,145 | 815 | 685 | 1,658 | 13.1% |
| Myanmar | 174 | 589 | 317 | 799 | 66.2% |
| Poland | 149 | 335 | 386 | 596 | 58.7% |
| Pakistan | 598 | 429 | 481 | 586 | -0.7% |
| Spain | 324 | 379 | 593 | 511 | 16.4% |
| Estonia | 190 | 165 | 217 | 389 | 27.0% |
| Others | 1,061 | 1,520 | 1,593 | 1,499 | 12.2% |
| Total | 5,480 | 6,197 | 6,004 | 8,435 | 15.5% |
Top Suppliers of Milled Rice to Latvia in 2022:
- Italy (2.3K tons)
- Lithuania (1.7K tons)
- Myanmar (1.1K tons)
- Spain (0.7K tons)
- Pakistan (0.5K tons)
- Poland (0.5K tons)
- Estonia (0.4K tons)
Milled Rice Exports in Latvia
For the third consecutive year, Latvia recorded decline in overseas shipments of semi-milled or wholly milled (bleached) rice, which decreased by -3.6% to 1.8K tons in 2022. Over the period under review, exports showed a perceptible descent. The smallest decline of -0.7% was in 2021.
In value terms, milled rice exports expanded sharply to $2.5M in 2022. The total export value increased at an average annual rate of +7.0% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2021 when exports increased by 11% against the previous year. The exports peaked in 2022 and are likely to continue growth in years to come.
| Export of Milled Rice in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Lithuania | 956 | 857 | 1,126 | 1,315 | 11.2% |
| Estonia | 963 | 1,059 | 1,026 | 1,047 | 2.8% |
| United Kingdom | 72.0 | 111 | 63.6 | 65.6 | -3.1% |
| Poland | 51.1 | 0.5 | 12.0 | 37.0 | -10.2% |
| Others | 21.3 | 42.5 | 65.3 | 61.7 | 42.6% |
| Total | 2,063 | 2,070 | 2,293 | 2,526 | 7.0% |
Top Export Markets for Milled Rice from Latvia in 2022:
- Estonia (867.7 tons)
- Lithuania (823.4 tons)
- United Kingdom (46.3 tons)
- Poland (44.1 tons)
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