Spices; Mixtures Price in Latvia - 2023
Contents:
- Spices; Mixtures Price in Latvia (CIF) - 2022
- Spices; Mixtures Price in Latvia (FOB) - 2022
- Spices; Mixtures Imports in Latvia
- Spices; Mixtures Exports in Latvia
Spices; Mixtures Price in Latvia (CIF) - 2022
In 2022, the average spices; mixtures import price amounted to $6,531 per ton, growing by 18% against the previous year. Overall, the import price, however, recorded a mild setback. The import price peaked at $7,570 per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Estonia ($12,356 per ton), while the price for India ($1,665 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+6.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Spices; Mixtures Price in Latvia (FOB) - 2022
The average spices; mixtures export price stood at $7,110 per ton in 2022, rising by 63% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. Over the period under review, the average export prices reached the maximum at $8,670 per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Lithuania ($12,091 per ton), while the average price for exports to Serbia ($1,576 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Romania (+17.4%), while the prices for the other major destinations experienced more modest paces of growth.
Spices; Mixtures Imports in Latvia
In 2022, purchases abroad of spices; mixtureses decreased by -62.5% to 169 tons for the first time since 2018, thus ending a three-year rising trend. Overall, imports, however, enjoyed resilient growth. The most prominent rate of growth was recorded in 2020 with an increase of 169%.
In value terms, spices; mixtures imports reduced rapidly to $1.1M in 2022. Over the period under review, imports, however, showed a remarkable increase. The pace of growth was the most pronounced in 2020 with an increase of 161% against the previous year.
| Import of Spices; Mixtures in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 225 | 245 | 321 | 444 | 25.4% |
| Lithuania | 202 | 913 | 1,141 | 305 | 14.7% |
| Estonia | 208 | 278 | 328 | 254 | 6.9% |
| Poland | 92.1 | 52.5 | 7.0 | 51.8 | -17.5% |
| India | 5.3 | 30.6 | 32.5 | 21.8 | 60.2% |
| Bulgaria | N/A | 528 | 631 | N/A | 19.5% |
| Others | 93.2 | 111 | 43.6 | 29.0 | -32.2% |
| Total | 826 | 2,159 | 2,504 | 1,105 | 10.2% |
Top Suppliers of Spices; Mixtures to Latvia in 2022:
- Lithuania (67.9 tons)
- Germany (43.0 tons)
- Estonia (20.5 tons)
- Poland (19.5 tons)
- India (13.1 tons)
Spices; Mixtures Exports in Latvia
In 2022, shipments abroad of spices; mixtureses decreased by -66.8% to 56 tons for the first time since 2018, thus ending a three-year rising trend. Overall, exports, however, showed a strong expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 148% against the previous year. As a result, the exports attained the peak of 169 tons, and then contracted significantly in the following year.
In value terms, spices; mixtures exports fell rapidly to $399K in 2022. Over the period under review, exports, however, continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2020 with an increase of 62% against the previous year.
| Export of Spices; Mixtures in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Estonia | 163 | 266 | 270 | 166 | 0.6% |
| Lithuania | 62.6 | 143 | 142 | 96.6 | 15.6% |
| Belarus | 50.3 | 42.2 | 60.9 | 63.5 | 8.1% |
| Russia | N/A | 38.1 | 15.4 | 19.7 | -28.1% |
| Poland | 1.3 | 4.6 | 193 | 17.8 | 139.2% |
| Bulgaria | N/A | 4.2 | 7.1 | 11.9 | 68.3% |
| Romania | 7.1 | 4.1 | 6.8 | 10.0 | 12.1% |
| Serbia | N/A | N/A | 6.3 | 3.2 | -49.2% |
| Others | 27.3 | 2.1 | 33.7 | 10.5 | -27.3% |
| Total | 311 | 504 | 735 | 399 | 8.7% |
Top Export Markets for Spices; Mixtures from Latvia in 2022:
- Estonia (14.7 tons)
- Poland (9.4 tons)
- Lithuania (8.0 tons)
- Bulgaria (7.0 tons)
- Belarus (5.6 tons)
- Romania (5.5 tons)
- Serbia (2.0 tons)
- Russia (1.9 tons)
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