Report Update: Apr 1, 2024

Latvia - Poppy Seed - Market Analysis, Forecast, Size, Trends and Insights

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Poppy Seed Price in Latvia - 2023

Poppy Seed Price in Latvia (CIF) - 2023

In September 2023, the average poppy seed import price amounted to $3,466 per ton, surging by 4.6% against the previous month. Over the period from September 2022 to September 2023, it increased at an average monthly rate of +3.0%. The growth pace was the most rapid in June 2023 an increase of 42% against the previous month. As a result, import price attained the peak level of $3,908 per ton. From July 2023 to September 2023, the average import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for Turkey.

From September 2022 to September 2023, the rate of growth in terms of prices for the Czech Republic amounted to +1.0% per month.

Poppy Seed Price in Latvia (FOB) - 2022

In 2022, the average poppy seed export price amounted to $1,746 per ton, declining by -32.5% against the previous year. Over the period under review, export price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, poppy seed export price decreased by -46.5% against 2020 indices. The growth pace was the most rapid in 2013 an increase of 96% against the previous year. Over the period under review, the average export prices hit record highs at $3,264 per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Lithuania ($3,487 per ton), while the average price for exports to Kazakhstan ($1,597 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 Romania (+38.4%), while the prices for the other major destinations experienced more modest paces of growth.

Poppy Seed Imports in Latvia

In 2022, purchases abroad of poppy seed decreased by -25.7% to 168 tons, falling for the second consecutive year after two years of growth. In general, imports faced a dramatic contraction. The most prominent rate of growth was recorded in 2020 with an increase of 329% against the previous year. As a result, imports reached the peak of 2.6K tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, poppy seed imports shrank significantly to $412K in 2022. Overall, imports continue to indicate a sharp decline. The pace of growth was the most pronounced in 2020 when imports increased by 215% against the previous year. As a result, imports attained the peak of $5.1M. From 2021 to 2022, the growth of imports failed to regain momentum.

Import of Poppy Seed in Latvia (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Czech Republic	1,226	2,424	215	194	-45.9%
Lithuania	104	81.8	53.9	74.8	-10.4%
China	N/A	2,303	51.6	50.5	-85.2%
Germany	0.2	0.6	0.4	50.4	531.6%
Poland	251	134	107	42.6	-44.6%
Others	27.4	129	85.2	0.4	-75.6%
Total	1,609	5,072	513	412	-36.5%

Top Suppliers of Poppy Seed to Latvia in 2022:

Czech Republic (81.0 tons)
China (34.0 tons)
Lithuania (27.9 tons)
Poland (17.6 tons)
Germany (7.0 tons)

Poppy Seed Exports in Latvia

In 2022, poppy seed exports from Latvia surged to 169 tons, increasing by 17% against the previous year's figure. Over the period under review, exports, however, faced a sharp slump. The pace of growth appeared the most rapid in 2020 with an increase of 101%. As a result, the exports attained the peak of 864 tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, poppy seed exports shrank sharply to $294K in 2022. In general, exports, however, continue to indicate a sharp contraction. The most prominent rate of growth was recorded in 2020 when exports increased by 224%. As a result, the exports reached the peak of $2.8M. From 2021 to 2022, the growth of the exports remained at a lower figure.

Export of Poppy Seed in Latvia (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Kazakhstan	748	353	211	235	-32.0%
Estonia	21.9	30.7	26.1	28.5	9.2%
Romania	N/A	51.2	43.4	21.9	-34.6%
Lithuania	12.9	2,380	79.2	8.8	-12.0%
Others	88.4	5.1	12.1	0.2	-86.9%
Total	871	2,820	372	294	-30.4%

Top Export Markets for Poppy Seed from Latvia in 2022:

Kazakhstan (147.0 tons)
Estonia (9.5 tons)
Romania (9.4 tons)
Lithuania (2.5 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the poppy seed 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 296 - Poppy seed

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.

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. 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. 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. 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. 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. 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. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
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
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
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