Price for Cereal Groats and Meal; of Wheat in Latvia - 2023

Contents:

1. Price for Cereal Groats and Meal; of Wheat in Latvia (CIF) - 2022
2. Price for Cereal Groats and Meal; of Wheat in Latvia (FOB) - 2022
3. Imports of Cereal Groats and Meal; of Wheat in Latvia
4. Exports of Cereal Groats and Meal; of Wheat in Latvia

Price for Cereal Groats and Meal; of Wheat in Latvia (CIF) - 2022

In 2022, the average import price for cereal groats and meal; of wheats amounted to $568 per ton, with an increase of 23% against the previous year. Overall, the import price recorded a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Romania ($912 per ton), while the price for Estonia ($375 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (+22.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Cereal Groats and Meal; of Wheat in Latvia (FOB) - 2022

In 2022, the average export price for cereal groats and meal; of wheats amounted to $753 per ton, surging by 24% against the previous year. Over the period under review, export price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for cereal groats and meal; of wheats increased by +95.3% against 2019 indices. The most prominent rate of growth was recorded in 2021 an increase of 35% against the previous year. The export price peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($895 per ton), while the average price for exports to Malta ($579 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 Portugal (+10.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Cereal Groats and Meal; of Wheat in Latvia

In 2022, the amount of cereal groats and meal; of wheats imported into Latvia surged to 925 tons, rising by 41% on the year before. Over the period under review, imports enjoyed a significant expansion. The growth pace was the most rapid in 2020 with an increase of 43%. Over the period under review, imports of reached the maximum in 2022 and are likely to see gradual growth in the immediate term.

In value terms, imports of cereal groats and meal; of wheats surged to $525K in 2022. In general, imports saw a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Top Suppliers of Cereal Groats and Meal; of Wheat to Latvia in 2022:

1. Lithuania (484.3 tons)
2. Estonia (242.8 tons)
3. Ukraine (67.5 tons)
4. Poland (66.1 tons)
5. Romania (24.0 tons)

Exports of Cereal Groats and Meal; of Wheat in Latvia

Exports of cereal groats and meal; of wheats from Latvia contracted notably to 665 tons in 2022, waning by -91% on 2021 figures. In general, exports showed a sharp downturn. The smallest decline of -2.5% was in 2020.

In value terms, exports of cereal groats and meal; of wheats contracted markedly to $501K in 2022. Over the period under review, exports faced a dramatic setback. The most prominent rate of growth was recorded in 2020 with an increase of 14%. As a result, the exports attained the peak of $7M. From 2021 to 2022, the growth of the exports of remained at a lower figure.

Top Export Markets for Cereal Groats and Meal; of Wheat from Latvia in 2022:

1. Lithuania (322.4 tons)
2. Estonia (167.1 tons)
3. Malta (53.5 tons)
4. Poland (48.3 tons)
5. United Kingdom (19.0 tons)
6. Portugal (12.3 tons)
7. Germany (5.3 tons)
8. Sweden (2.5 tons)

Source: IndexBox Market Intelligence Platform