Report Update: May 1, 2024

Latvia - Evaporated And Condensed Milk - Market Analysis, Forecast, Size, Trends and Insights

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Price for Evaporated and Condensed Milk in Latvia - 2023

Price for Evaporated and Condensed Milk in Latvia (CIF) - 2023

In September 2023, the average evaporated and condensed milk import price amounted to $2,827 per ton, remaining relatively unchanged against the previous month. Over the period from September 2022 to September 2023, it increased at an average monthly rate of +2.0%. The growth pace was the most rapid in November 2022 an increase of 34% m-o-m. The import price peaked at $3,259 per ton in February 2023; however, from March 2023 to September 2023, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In September 2023, the countries with the highest prices were Estonia ($3,592 per ton) and Poland ($3,411 per ton), while the price for Germany ($2,518 per ton) and the Netherlands ($2,535 per ton) were amongst the lowest.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by the Netherlands (+4.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Evaporated and Condensed Milk in Latvia (FOB) - 2023

The average evaporated and condensed milk export price stood at $1,906 per ton in September 2023, surging by 11% against the previous month. Over the last twelve months, it increased at an average monthly rate of +1.3%. The most prominent rate of growth was recorded in March 2023 when the average export price increased by 16% month-to-month. The export price peaked at $2,046 per ton in December 2022; however, from January 2023 to September 2023, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major external markets. In September 2023, the country with the highest price was Estonia ($1,959 per ton), while the average price for exports to Lithuania totaled $1,658 per ton.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to the Czech Republic (+7.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Evaporated and Condensed Milk in Latvia

In 2022, supplies from abroad of evaporated and condensed milk decreased by -16.6% to 1.6K tons, falling for the second year in a row after two years of growth. Overall, imports continue to indicate a slight setback. The pace of growth was the most pronounced in 2020 with an increase of 19%. As a result, imports attained the peak of 2K tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, evaporated and condensed milk imports contracted to $3.7M in 2022. The total import value increased at an average annual rate of +6.9% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 23%.

Import of Evaporated and Condensed Milk in Latvia (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Lithuania	2,083	2,675	2,459	1,993	-1.5%
Germany	373	201	59.8	807	29.3%
Estonia	464	442	773	540	5.2%
Netherlands	63.8	348	457	211	49.0%
Poland	18.8	40.3	82.0	124	87.5%
Others	5.7	8.2	6.8	2.5	-24.0%
Total	3,009	3,714	3,837	3,677	6.9%

Top Suppliers of Evaporated and Condensed Milk to Latvia in 2022:

Lithuania (809.0 tons)
Germany (425.0 tons)
Estonia (218.6 tons)
Netherlands (130.5 tons)
Poland (45.5 tons)

Exports of Evaporated and Condensed Milk in Latvia

In 2022, exports of evaporated and condensed milk from Latvia soared to 936 tons, growing by 40% on 2021. The total export volume increased at an average annual rate of +12.4% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, evaporated and condensed milk exports skyrocketed to $1.6M in 2022. Over the period under review, exports recorded a relatively flat trend pattern. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Export of Evaporated and Condensed Milk in Latvia (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Lithuania	447	835	516	788	20.8%
Estonia	985	670	594	753	-8.6%
Czech Republic	1.2	1.3	0.2	46.2	237.7%
France	118	N/A	N/A	N/A	0%
Others	66.1	53.2	66.9	56.0	-5.4%
Total	1,617	1,559	1,177	1,643	0.5%

Top Export Markets for Evaporated and Condensed Milk from Latvia in 2022:

Lithuania (465.6 tons)
Estonia (428.0 tons)
Czech Republic (21.1 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the market for evaporated and condensed milk 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 889 - Whole Milk, Condensed
FCL 894 - Whole Milk, Evaporated
FCL 895 - Skim Milk, Evaporated
FCL 896 - Skim Milk, Condensed

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, PRODUCING ANIMALS 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. Producing Animals Slaughtered, 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