Price for Fish Meal; Fit for Human Consumption in Latvia - 2022

Contents:

1. Price for Fish Meal; Fit for Human Consumption in Latvia (FOB) - 2022
2. Price for Fish Meal; Fit for Human Consumption in Latvia (CIF) - 2022
3. Exports of Fish Meal; Fit for Human Consumption in Latvia
4. Imports of Fish Meal; Fit for Human Consumption in Latvia

Price for Fish Meal; Fit for Human Consumption in Latvia (FOB) - 2022

In December 2021, the average export price for fish meal; fit for human consumptia amounted to $1,346 per ton, approximately mirroring the previous month. Overall, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in September 2021 when the average export price increased by 20% against the previous month. The export price peaked at $1,418 per ton in January 2021; however, from February 2021 to December 2021, the export prices failed to regain momentum.

Average prices varied noticeably for the major export markets. In December 2021, the country with the highest price was Estonia ($1,359 per ton), while the average price for exports to Spain ($1,337 per ton) was amongst the lowest.

From January 2021 to December 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Czech Republic (+3.4%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Fish Meal; Fit for Human Consumption in Latvia (CIF) - 2022

In 2022, the average import price for fish meal; fit for human consumptia amounted to $1,339 per ton, with a decrease of -13% against the previous year. Overall, import price indicated a resilient increase from 2012 to 2022: its price increased at an average annual rate of +8.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for fish meal; fit for human consumptia increased by +42.1% against 2016 indices. The growth pace was the most rapid in 2013 an increase of 163%. Over the period under review, average import prices reached the maximum at $1,701 per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for Denmark.

From 2012 to 2022, the rate of growth in terms of prices for Denmark amounted to +9.7% per year.

Exports of Fish Meal; Fit for Human Consumption in Latvia

After three years of growth, shipments abroad of fish meal; fit for human consumptia decreased by -31.5% to 1K tons in 2022. Overall, exports, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 171% against the previous year. As a result, the exports attained the peak of 1.5K tons, and then declined remarkably in the following year.

In value terms, exports of fish meal; fit for human consumptia fell significantly to $1.3M in 2022. Over the period under review, exports, however, saw a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 173%. As a result, the exports attained the peak of $2M, and then contracted significantly in the following year.

Top Export Markets for Fish Meal; Fit for Human Consumption from Latvia in 2022:

1. Lithuania (663.9 tons)
2. Estonia (363.6 tons)

Imports of Fish Meal; Fit for Human Consumption in Latvia

In 2022, the amount of fish meal; fit for human consumptia imported into Latvia soared to 352 tons, growing by 52% against the previous year's figure. In general, imports, however, continue to indicate a pronounced decrease.

In value terms, imports of fish meal; fit for human consumptia surged to $472K in 2022. Over the period under review, imports, however, recorded a mild descent.

Top Suppliers of Fish Meal; Fit for Human Consumption to Latvia in 2022:

1. Denmark (352.5 tons)

Source: IndexBox Market Intelligence Platform