Price for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Latvia - 2023

Contents:

1. Price for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Latvia (CIF) - 2023
2. Price for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Latvia (FOB) - 2023
3. Imports of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Latvia
4. Exports of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Latvia

Price for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Latvia (CIF) - 2023

In October 2023, the average import price for white sugar (containing >= 99,5% sucrose) and chemically pure sucrose amounted to $1,040 per ton, with a decrease of -3.5% against the previous month. Over the period from October 2022 to October 2023, it increased at an average monthly rate of +3.1%. The most prominent rate of growth was recorded in January 2023 when the average import price increased by 33% m-o-m. Over the period under review, average import prices hit record highs at $1,098 per ton in July 2023; however, from August 2023 to October 2023, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In October 2023, the countries with the highest prices were Poland ($1,135 per ton) and Lithuania ($1,043 per ton), while the price for Ukraine ($869 per ton) and Denmark ($1,034 per ton) were amongst the lowest.

From October 2022 to October 2023, the most notable rate of growth in terms of prices was attained by Poland (+4.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Latvia (FOB) - 2023

In October 2023, the average export price for white sugar (containing >= 99,5% sucrose) and chemically pure sucrose amounted to $1,343 per ton, rising by 12% against the previous month. Overall, export price indicated a pronounced increase from October 2022 to October 2023: its price increased at an average monthly rate of +2.6% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on October 2023 figures, export price for white sugar (containing >= 99,5% sucrose) and chemically pure sucrose increased by +12.1% against September 2023 indices. The most prominent rate of growth was recorded in December 2022 when the average export price increased by 121% m-o-m. Over the period under review, the average export prices attained the maximum at $1,446 per ton in May 2023; however, from June 2023 to October 2023, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In October 2023, the country with the highest price was Russia ($2,636 per ton), while the average price for exports to Lithuania ($1,118 per ton) was amongst the lowest.

From October 2022 to October 2023, the most notable rate of growth in terms of prices was recorded for supplies to Sweden (+15.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Latvia

In 2022, imports of white sugar (containing >= 99,5% sucrose) and chemically pure sucrose into Latvia was estimated at 55K tons, therefore, remained relatively stable against the previous year. The total import volume increased at an average annual rate of +1.2% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by 3.9%. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, imports of white sugar (containing >= 99,5% sucrose) and chemically pure sucrose surged to $37M in 2022. The total import value increased at an average annual rate of +13.2% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Top Suppliers of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose to Latvia in 2022:

1. Denmark (27.2K tons)
2. Lithuania (16.8K tons)
3. Poland (9.2K tons)

Exports of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Latvia

After two years of decline, overseas shipments of white sugar (containing >= 99,5% sucrose) and chemically pure sucrose increased by 258% to 1.6K tons in 2022. In general, exports recorded a relatively flat trend pattern. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, exports of white sugar (containing >= 99,5% sucrose) and chemically pure sucrose soared to $1.2M in 2022. Overall, exports showed a prominent expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Top Export Markets for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose from Latvia in 2022:

1. Lithuania (734.1 tons)
2. Estonia (683.7 tons)
3. Poland (92.4 tons)
4. Russia (47.5 tons)
5. Sweden (34.0 tons)
6. Denmark (0.1 tons)

Source: IndexBox Market Intelligence Platform