Latvia - Dried Or Smoked Fish - Market Analysis, Forecast, Size, Trends and Insights
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View PricingPrice for Dried or Smoked Fish in Latvia - 2023
Contents:
- Price for Dried or Smoked Fish in Latvia (FOB) - 2023
- Price for Dried or Smoked Fish in Latvia (CIF) - 2023
- Exports of Dried or Smoked Fish in Latvia
- Imports of Dried or Smoked Fish in Latvia
Price for Dried or Smoked Fish in Latvia (FOB) - 2023
The average dried or smoked fish export price stood at $12,258 per ton in September 2023, falling by -8% against the previous month. In general, export price indicated a modest increase from September 2022 to September 2023: its price increased at an average monthly rate of +1.4% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on September 2023 figures, dried or smoked fish export price decreased by -8.0% against August 2023 indices. The growth pace was the most rapid in March 2023 when the average export price increased by 31% against the previous month. Over the period under review, the average export prices reached the maximum at $13,322 per ton in August 2023, and then shrank in the following month.
There were significant differences in the average prices for the major export markets. In September 2023, the country with the highest price was Denmark ($16,038 per ton), while the average price for exports to Italy ($2,586 per ton) was amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to Estonia (+3.7%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Dried or Smoked Fish in Latvia (CIF) - 2023
The average dried or smoked fish import price stood at $9,624 per ton in September 2023, growing by 3.2% against the previous month. Over the period under review, import price indicated measured growth from September 2022 to September 2023: its price increased at an average monthly rate of +3.6% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on September 2023 figures, dried or smoked fish import price decreased by -2.4% against July 2023 indices. The most prominent rate of growth was recorded in December 2022 when the average import price increased by 71% against the previous month. As a result, import price reached the peak level of $12,689 per ton. From January 2023 to September 2023, the average import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In September 2023, the country with the highest price was Germany ($23,370 per ton), while the price for Poland ($6,758 per ton) was amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Lithuania (+3.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Dried or Smoked Fish in Latvia
In 2022, approx. 3K tons of dried or smoked fish were exported from Latvia; waning by -22.3% against the year before. Over the period under review, exports continue to indicate a pronounced downturn. The pace of growth was the most pronounced in 2021 when exports increased by 36%. As a result, the exports attained the peak of 3.8K tons, and then dropped remarkably in the following year.
In value terms, dried or smoked fish exports fell slightly to $26M in 2022. The total export value increased at an average annual rate of +2.7% over the period from 2019 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 30% against the previous year. As a result, the exports reached the peak of $27M, and then dropped in the following year.
Export of Dried or Smoked Fish in Latvia (Million USD) | |||||
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COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Denmark | 21.2 | 16.7 | 19.8 | 18.7 | -4.1% |
Lithuania | 0.7 | 0.8 | 2.2 | 1.4 | 26.0% |
Austria | N/A | 1.1 | 1.2 | 1.4 | 12.8% |
Estonia | 1.0 | 0.7 | 1.6 | 1.2 | 6.3% |
Poland | N/A | 0.1 | 0.3 | 0.7 | 164.6% |
Germany | 0.4 | 0.5 | 0.7 | 0.6 | 14.5% |
Bulgaria | N/A | N/A | 0.1 | 0.2 | 100.0% |
Others | 0.9 | 1.2 | 1.6 | 2.0 | 30.5% |
Total | 24.1 | 21.1 | 27.5 | 26.1 | 2.7% |
Top Export Markets for Dried or Smoked Fish from Latvia in 2022:
- Denmark (1085.9 tons)
- Lithuania (807.9 tons)
- Estonia (362.4 tons)
- Poland (281.9 tons)
- Germany (95.3 tons)
- Bulgaria (81.8 tons)
- Austria (77.8 tons)
Imports of Dried or Smoked Fish in Latvia
In 2022, overseas purchases of dried or smoked fish decreased by -24.8% to 1.5K tons for the first time since 2018, thus ending a three-year rising trend. Overall, imports recorded a perceptible slump. The most prominent rate of growth was recorded in 2020 when imports increased by 19%.
In value terms, dried or smoked fish imports rose to $10M in 2022. Over the period under review, total imports indicated a buoyant increase from 2019 to 2022: its value increased at an average annual rate of +15.8% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +55.5% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 22% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the near future.
Import of Dried or Smoked Fish in Latvia (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Lithuania | 3.7 | 5.4 | 6.7 | 6.1 | 18.1% |
Norway | N/A | 0.1 | 0.5 | 0.8 | 182.8% |
United States | 1.0 | 0.7 | 0.4 | 0.7 | -11.2% |
Poland | 0.2 | 0.3 | 0.2 | 0.6 | 44.2% |
Estonia | 0.4 | 0.4 | 0.4 | 0.4 | 0.0% |
Vietnam | 0.1 | 0.1 | 0.2 | 0.4 | 58.7% |
Denmark | 0.6 | 0.4 | 0.4 | 0.1 | -45.0% |
Others | 0.5 | 0.5 | 0.7 | 0.9 | 21.6% |
Total | 6.5 | 7.9 | 9.6 | 10.0 | 15.4% |
Top Suppliers of Dried or Smoked Fish to Latvia in 2022:
- Lithuania (1007.4 tons)
- Poland (130.2 tons)
- Estonia (86.9 tons)
- United States (69.2 tons)
- Norway (41.8 tons)
- Vietnam (40.6 tons)
- Denmark (32.2 tons)
This report provides an in-depth analysis of the market for dried or smoked fish 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:
- Prodcom 10202100 - Fish fillets, dried, salted or in brine, but not smoked
- Prodcom 10202350 - Dried fish, whether or not salted, fish, salted but not dried, fish in brine (excluding fillets, smoked, heads, tails and maws)
- Prodcom 10202425 - Smoked Pacific, Atlantic and Danube salmon (including fillets, e xcluding heads, tails and maws)
- Prodcom 10202455 - Smoked herrings (including fillets, excluding heads, tails and maws)
- Prodcom 10202485 - Smoked fish (excluding herrings, Pacific, Atlantic and Danube salmon), including fillets, excluding head, tails and maws
- Prodcom 10202200 - Flours, meals and pellets of fish, fit for human consumption, f ish livers and roes, dried, smoked, salted or in brine
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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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