Price for Cereal Flours; Other than of Wheat or Meslin in Latvia - 2023

Contents:

1. Price for Cereal Flours; Other than of Wheat or Meslin in Latvia (FOB) - 2023
2. Price for Cereal Flours; Other than of Wheat or Meslin in Latvia (CIF) - 2023
3. Exports of Cereal Flours; Other than of Wheat or Meslin in Latvia
4. Imports of Cereal Flours; Other than of Wheat or Meslin in Latvia

Price for Cereal Flours; Other than of Wheat or Meslin in Latvia (FOB) - 2023

In October 2023, the average export price for cereal flours; other than of wheat or meslin amounted to $827 per ton, leveling off at the previous month. Over the last twelve months, it increased at an average monthly rate of +1.9%. The most prominent rate of growth was recorded in August 2023 an increase of 39% against the previous month. As a result, the export price attained the peak level of $1,095 per ton. From September 2023 to October 2023, the the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In October 2023, the country with the highest price was Lithuania ($1,325 per ton), while the average price for exports to Belgium ($817 per ton) was amongst the lowest.

From October 2022 to October 2023, the most notable rate of growth in terms of prices was recorded for supplies to Lithuania (+9.4%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Cereal Flours; Other than of Wheat or Meslin in Latvia (CIF) - 2023

The average import price for cereal flours; other than of wheat or meslin stood at $419 per ton in October 2023, falling by -24.2% against the previous month. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in August 2023 an increase of 26% m-o-m. The import price peaked at $553 per ton in September 2023, and then shrank significantly in the following month.

Average prices varied somewhat amongst the major supplying countries. In October 2023, the country with the highest price was Lithuania ($498 per ton), while the price for Estonia ($380 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 Ukraine (+1.7%), while the prices for the other major suppliers experienced a decline.

Exports of Cereal Flours; Other than of Wheat or Meslin in Latvia

In 2022, the amount of cereal flours; other than of wheat or meslin exported from Latvia rose sharply to 12K tons, picking up by 13% against the previous year's figure. Over the period under review, total exports indicated strong growth from 2019 to 2022: its volume increased at an average annual rate of +5.3% 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 +61.8% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 43% against the previous year. The exports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, exports of cereal flours; other than of wheat or meslin skyrocketed to $7.7M in 2022. In general, exports showed a buoyant expansion. The growth pace was the most rapid in 2021 with an increase of 90%. The exports peaked in 2022 and are likely to see steady growth in the near future.

Top Export Markets for Cereal Flours; Other than of Wheat or Meslin from Latvia in 2022:

1. Belgium (5.7K tons)
2. Poland (2.0K tons)
3. Lithuania (1.9K tons)
4. Italy (0.6K tons)
5. France (0.4K tons)
6. Estonia (0.3K tons)
7. Hungary (0.2K tons)

Imports of Cereal Flours; Other than of Wheat or Meslin in Latvia

After three years of growth, purchases abroad of cereal flours; other than of wheat or meslin decreased by -8% to 8.1K tons in 2022. In general, total imports indicated a prominent expansion from 2019 to 2022: its volume increased at an average annual rate of +18.6% 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 +66.7% against 2019 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 38%.

In value terms, imports of cereal flours; other than of wheat or meslin rose rapidly to $2.6M in 2022. Overall, total imports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +13.8% 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 +47.2% against 2019 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 23% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the near future.

Top Suppliers of Cereal Flours; Other than of Wheat or Meslin to Latvia in 2022:

1. Estonia (5.5K tons)
2. Lithuania (2.5K tons)

Source: IndexBox Market Intelligence Platform