Price for Tomatoes; Prepared or Preserved Otherwise than by Vinegar or Acetic Acid in Latvia - 2023

Contents:

1. Price for Tomatoes; Prepared or Preserved Otherwise than by Vinegar or Acetic Acid in Latvia (CIF) - 2023
2. Price for Tomatoes; Prepared or Preserved Otherwise than by Vinegar or Acetic Acid in Latvia (FOB) - 2023
3. Imports of Tomatoes; Prepared or Preserved Otherwise than by Vinegar or Acetic Acid in Latvia
4. Exports of Tomatoes; Prepared or Preserved Otherwise than by Vinegar or Acetic Acid in Latvia

Price for Tomatoes; Prepared or Preserved Otherwise than by Vinegar or Acetic Acid in Latvia (CIF) - 2023

The average import price for tomatoes; prepared or preserved otherwise than by vinegar or acetic acid stood at $1,839 per ton in November 2023, waning by -5.4% against the previous month. Over the last twelve-month period, it increased at an average monthly rate of +1.8%. The pace of growth was the most pronounced in May 2023 when the average import price increased by 26% against the previous month. The import price peaked at $2,049 per ton in September 2023; however, from October 2023 to November 2023, import prices failed to regain momentum.

Prices varied noticeably by the country of origin: the country with the highest price was Turkey ($4,767 per ton), while the price for Italy ($1,527 per ton) was amongst the lowest.

From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by Ukraine (+5.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Tomatoes; Prepared or Preserved Otherwise than by Vinegar or Acetic Acid in Latvia (FOB) - 2023

In November 2023, the average export price for tomatoes; prepared or preserved otherwise than by vinegar or acetic acid amounted to $2,091 per ton, picking up by 1.5% against the previous month. Overall, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in February 2023 when the average export price increased by 20% month-to-month. The export price peaked at $2,421 per ton in June 2023; however, from July 2023 to November 2023, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major foreign markets. In November 2023, the countries with the highest prices were Russia ($2,761 per ton) and the UK ($2,529 per ton), while the average price for exports to Estonia ($1,927 per ton) and Lithuania ($2,086 per ton) were amongst the lowest.

From November 2022 to November 2023, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+3.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Tomatoes; Prepared or Preserved Otherwise than by Vinegar or Acetic Acid in Latvia

In 2022, the amount of tomatoes; prepared or preserved otherwise than by vinegar or acetic acid imported into Latvia soared to 7.5K tons, increasing by 21% compared with the previous year's figure. The total import volume increased at an average annual rate of +5.0% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of tomatoes; prepared or preserved otherwise than by vinegar or acetic acid soared to $9.2M in 2022. Over the period under review, total imports indicated prominent growth from 2019 to 2022: its value increased at an average annual rate of +15.8% 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 +55.4% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Top Suppliers of Tomatoes; Prepared or Preserved Otherwise than by Vinegar or Acetic Acid to Latvia in 2022:

1. Spain (2940.9 tons)
2. Ukraine (1082.4 tons)
3. Italy (1025.3 tons)
4. China (413.1 tons)
5. Germany (344.5 tons)
6. Lithuania (326.0 tons)
7. Hungary (281.9 tons)
8. Poland (279.7 tons)
9. Chile (153.5 tons)
10. France (147.8 tons)
11. Tunisia (147.2 tons)
12. Sweden (128.1 tons)

Exports of Tomatoes; Prepared or Preserved Otherwise than by Vinegar or Acetic Acid in Latvia

In 2022, exports of tomatoes; prepared or preserved otherwise than by vinegar or acetic acid from Latvia contracted notably to 1.1K tons, reducing by -28.2% against the year before. Overall, exports showed a abrupt decrease. The most prominent rate of growth was recorded in 2021 with an increase of 14%. As a result, the exports reached the peak of 1.5K tons, and then shrank dramatically in the following year.

In value terms, exports of tomatoes; prepared or preserved otherwise than by vinegar or acetic acid soared to $2.8M in 2022. Over the period under review, exports, however, saw a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Top Export Markets for Tomatoes; Prepared or Preserved Otherwise than by Vinegar or Acetic Acid from Latvia in 2022:

1. Estonia (419.6 tons)
2. Ukraine (335.1 tons)
3. Lithuania (224.5 tons)
4. Poland (65.1 tons)
5. Russia (32.7 tons)

Source: IndexBox Market Intelligence Platform