Price for Vegetable Products Not Elsewhere Specified or Included in Latvia - 2024
Contents:
- Price for Vegetable Products Not Elsewhere Specified or Included in Latvia (CIF) - 2024
- Price for Vegetable Products Not Elsewhere Specified or Included in Latvia (FOB) - 2024
- Imports of Vegetable Products Not Elsewhere Specified or Included in Latvia
- Exports of Vegetable Products Not Elsewhere Specified or Included in Latvia
Price for Vegetable Products Not Elsewhere Specified or Included in Latvia (CIF) - 2024
The average import price for vegetable products not elsewhere specified or includeds stood at $75.4 per ton in August 2023, declining by -28.2% against the previous month. Overall, the import price showed a abrupt shrinkage. The pace of growth appeared the most rapid in April 2023 when the average import price increased by 17% against the previous month. Over the period under review, average import prices hit record highs at $153 per ton in January 2023; however, from February 2023 to August 2023, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In August 2023, the country with the highest price was Russia ($73.0 per ton), while the price for Luxembourg stood at $45.0 per ton.
From January 2023 to August 2023, the most notable rate of growth in terms of prices was attained by Russia (-9.3%).
Price for Vegetable Products Not Elsewhere Specified or Included in Latvia (FOB) - 2024
In August 2023, the average export price for vegetable products not elsewhere specified or includeds amounted to $98.3 per ton, with an increase of 7.7% against the previous month. Overall, the export price, however, recorded a abrupt decrease. The pace of growth was the most pronounced in February 2023 when the average export price increased by 21% month-to-month. As a result, the export price attained the peak level of $177 per ton. From March 2023 to August 2023, the the average export prices failed to regain momentum.
Average prices varied somewhat for the major overseas markets. In August 2023, the country with the highest price was Denmark ($117 per ton), while the average price for exports to Germany ($79.0 per ton) was amongst the lowest.
From January 2023 to August 2023, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (-3.8%), while the prices for the other major destinations experienced a decline.
Imports of Vegetable Products Not Elsewhere Specified or Included in Latvia
After two years of decline, purchases abroad of vegetable products not elsewhere specified or includeds increased by 668% to 30K tons in 2022. Overall, imports continue to indicate a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, imports of vegetable products not elsewhere specified or includeds soared to $8.4M in 2022. Over the period under review, imports recorded a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Vegetable Products Not Elsewhere Specified or Included in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Russia | 1,487 | 1,388 | 433 | 6,973 | 67.4% |
| Belarus | N/A | N/A | N/A | 294 | 0% |
| India | 72.2 | 312 | 99.5 | 154 | 28.7% |
| Lithuania | 149 | 99.1 | 183 | 133 | -3.7% |
| Others | 668 | 916 | 910 | 810 | 6.6% |
| Total | 2,375 | 2,714 | 1,626 | 8,365 | 52.1% |
Top Suppliers of Vegetable Products Not Elsewhere Specified or Included to Latvia in 2022:
- Russia (27.2K tons)
- Belarus (1.2K tons)
- India (0.5K tons)
- Lithuania (0.5K tons)
Exports of Vegetable Products Not Elsewhere Specified or Included in Latvia
In 2022, approx. 14K tons of vegetable products not elsewhere specified or includeds were exported from Latvia; rising by 297% compared with the previous year's figure. Over the period under review, exports saw a significant expansion. The growth pace was the most rapid in 2020 with an increase of 5,996%. Over the period under review, the exports of hit record highs in 2022 and are expected to retain growth in years to come.
In value terms, exports of vegetable products not elsewhere specified or includeds skyrocketed to $1.7M in 2022. In general, exports showed significant growth. The growth pace was the most rapid in 2020 with an increase of 3,049%. Over the period under review, the exports of attained the peak figure in 2022 and are likely to continue growth in the immediate term.
| Export of Vegetable Products Not Elsewhere Specified or Included in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | N/A | N/A | N/A | 924 | 0% |
| Denmark | N/A | 1,122 | 139 | 457 | -36.2% |
| Netherlands | N/A | 97.3 | 144 | 264 | 64.7% |
| Lithuania | 33.3 | 31.5 | 51.5 | 65.2 | 25.1% |
| Others | 7.2 | 23.9 | 77.1 | 33.0 | 66.1% |
| Total | 40.5 | 1,275 | 412 | 1,743 | 250.4% |
Top Export Markets for Vegetable Products Not Elsewhere Specified or Included from Latvia in 2022:
- Germany (7.8K tons)
- Denmark (4.5K tons)
- Netherlands (0.9K tons)
- Lithuania (0.4K tons)
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