Preserved Frozen Potato Price in Latvia - 2023
Contents:
- Preserved Frozen Potato Price in Latvia (CIF) - 2023
- Preserved Frozen Potato Price in Latvia (FOB) - 2023
- Preserved Frozen Potato Imports in Latvia
- Preserved Frozen Potato Exports in Latvia
Preserved Frozen Potato Price in Latvia (CIF) - 2023
The average preserved frozen potato import price stood at $1,698 per ton in October 2023, rising by 2.8% against the previous month. Over the period from October 2022 to October 2023, it increased at an average monthly rate of +3.2%. The most prominent rate of growth was recorded in November 2022 an increase of 12% month-to-month. Over the period under review, average import prices hit record highs in October 2023.
Prices varied noticeably by the country of origin: the country with the highest price was the Netherlands ($2,068 per ton), while the price for Estonia ($1,127 per ton) was amongst the lowest.
From October 2022 to October 2023, the most notable rate of growth in terms of prices was attained by Belgium (+4.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Preserved Frozen Potato Price in Latvia (FOB) - 2023
In October 2023, the average preserved frozen potato export price amounted to $1,778 per ton, falling by -1.9% against the previous month. Over the last twelve-month period, it increased at an average monthly rate of +2.1%. The pace of growth was the most pronounced in September 2023 an increase of 8.4% against the previous month. As a result, the export price reached the peak level of $1,813 per ton, and then shrank modestly in the following month.
Average prices varied noticeably for the major overseas markets. In October 2023, the highest price was recorded for prices to Uzbekistan ($1,919 per ton) and Azerbaijan ($1,793 per ton), while the average price for exports to Russia ($1,593 per ton) and Estonia ($1,760 per ton) were amongst the lowest.
From October 2022 to October 2023, the most notable rate of growth in terms of prices was recorded for supplies to Estonia (+3.2%), while the prices for the other major destinations experienced more modest paces of growth.
Preserved Frozen Potato Imports in Latvia
Preserved frozen potato imports into Latvia soared to 12K tons in 2022, rising by 17% on the previous year. The total import volume increased at an average annual rate of +10.8% 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 2021 with an increase of 17% against the previous year. Imports peaked in 2022 and are likely to continue growth in the near future.
In value terms, preserved frozen potato imports soared to $14M in 2022. Over the period under review, total imports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +16.0% 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 +56.2% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Preserved Frozen Potato in Latvia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Poland | 6.5 | 6.6 | 7.9 | 9.2 | 12.3% |
| Belgium | 0.8 | 0.9 | 1.6 | 2.6 | 48.1% |
| Lithuania | 1.1 | 0.8 | 0.6 | 0.7 | -14.0% |
| Germany | 0.2 | 0.5 | 0.8 | 0.7 | 51.8% |
| Netherlands | 0.2 | 0.1 | 0.1 | 0.4 | 26.0% |
| Others | 0.1 | N/A | 0.1 | 0.1 | 0.0% |
| Total | 8.8 | 9.0 | 11.1 | 13.8 | 16.2% |
Top Suppliers of Preserved Frozen Potato to Latvia in 2022:
- Poland (8.1K tons)
- Belgium (2.6K tons)
- Lithuania (0.7K tons)
- Germany (0.4K tons)
- Netherlands (0.3K tons)
Preserved Frozen Potato Exports in Latvia
For the fourth consecutive year, Latvia recorded growth in overseas shipments of frozen potatoes prepared or preserved, which increased by 49% to 4.9K tons in 2022. Over the period under review, exports saw a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, preserved frozen potato exports skyrocketed to $6.3M in 2022. Overall, exports posted a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Preserved Frozen Potato in Latvia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Lithuania | 1.4 | 1.6 | 2.2 | 2.4 | 19.7% |
| Estonia | 1.2 | 1.2 | 1.5 | 1.8 | 14.5% |
| Russia | N/A | N/A | N/A | 1.0 | 0% |
| Belarus | N/A | N/A | N/A | 0.9 | 0% |
| Kyrgyzstan | N/A | N/A | N/A | 0.2 | 0% |
| Others | N/A | N/A | N/A | 0.1 | 0% |
| Total | 2.5 | 2.8 | 3.7 | 6.3 | 36.1% |
Top Export Markets for Preserved Frozen Potato from Latvia in 2022:
- Lithuania (1983.9 tons)
- Estonia (1541.6 tons)
- Russia (640.9 tons)
- Belarus (561.9 tons)
- Kyrgyzstan (116.0 tons)
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