Non-Liquid Margarine Price in Latvia - 2023

Contents:

1. Non-Liquid Margarine Price in Latvia (CIF) - 2023
2. Non-Liquid Margarine Price in Latvia (FOB) - 2022
3. Non-Liquid Margarine Imports in Latvia
4. Non-Liquid Margarine Exports in Latvia

Non-Liquid Margarine Price in Latvia (CIF) - 2023

In October 2023, the average non-liquid margarine import price amounted to $1,892 per ton, stabilizing at the previous month. In general, the import price, however, saw a slight reduction. The pace of growth was the most pronounced in January 2023 an increase of 5.6% against the previous month. As a result, import price reached the peak level of $2,299 per ton. From February 2023 to October 2023, the average import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In October 2023, the highest price was recorded for prices from Estonia ($2,373 per ton) and the Netherlands ($2,037 per ton), while the price for Poland ($1,788 per ton) and Lithuania ($1,856 per ton) were amongst the lowest.

From October 2022 to October 2023, the most notable rate of growth in terms of prices was attained by Estonia (+0.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Non-Liquid Margarine Price in Latvia (FOB) - 2022

In 2022, the average non-liquid margarine export price amounted to $1,709 per ton, rising by 15% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of 26%. Over the period under review, the average export prices hit record highs at $1,932 per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belgium ($2,642 per ton), while the average price for exports to Estonia ($1,230 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+10.3%), while the prices for the other major destinations experienced mixed trend patterns.

Non-Liquid Margarine Imports in Latvia

In 2022, imports of non-liquid margarine into Latvia dropped to 4.2K tons, reducing by -10.8% compared with the previous year. In general, imports showed a deep contraction. The growth pace was the most rapid in 2021 when imports increased by 2.4% against the previous year.

In value terms, non-liquid margarine imports skyrocketed to $8.1M in 2022. The total import value 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. The pace of growth was the most pronounced in 2021 with an increase of 28% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the near future.

Top Suppliers of Non-Liquid Margarine to Latvia in 2022:

1. Poland (1671.6 tons)
2. Lithuania (1653.4 tons)
3. Germany (209.2 tons)
4. Denmark (161.0 tons)
5. Italy (114.8 tons)
6. Estonia (114.0 tons)
7. Netherlands (108.6 tons)

Non-Liquid Margarine Exports in Latvia

In 2022, overseas shipments of non-liquid margarine were finally on the rise to reach 82 tons after two years of decline. Over the period under review, exports, however, faced a abrupt setback.

In value terms, non-liquid margarine exports skyrocketed to $141K in 2022. Overall, exports, however, continue to indicate a abrupt setback.

Top Export Markets for Non-Liquid Margarine from Latvia in 2022:

1. Estonia (42.5 tons)
2. Russia (23.2 tons)
3. Lithuania (12.2 tons)
4. United Kingdom (3.3 tons)
5. Belgium (1.3 tons)

Source: IndexBox Market Intelligence Platform