Spices; Turmeric (Curcuma) Price in Latvia - 2023
Contents:
- Spices; Turmeric (Curcuma) Price in Latvia (CIF) - 2022
- Spices; Turmeric (Curcuma) Price in Latvia (FOB) - 2022
- Spices; Turmeric (Curcuma) Imports in Latvia
- Spices; Turmeric (Curcuma) Exports in Latvia
Spices; Turmeric (Curcuma) Price in Latvia (CIF) - 2022
The average spices; turmeric (curcuma) import price stood at $1,660 per ton in 2022, picking up by 5.8% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the average import price increased by 26% against the previous year. As a result, import price attained the peak level of $2,278 per ton. From 2014 to 2022, the average import prices remained at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Lithuania ($3,166 per ton), while the price for India ($1,312 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (-1.4%), while the prices for the other major suppliers experienced a decline.
Spices; Turmeric (Curcuma) Price in Latvia (FOB) - 2022
The average spices; turmeric (curcuma) export price stood at $2,062 per ton in 2022, falling by -23.4% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average export price increased by 50% against the previous year. As a result, the export price attained the peak level of $2,691 per ton, and then fell markedly in the following year.
There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($2,976 per ton), while the average price for exports to Serbia ($1,738 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 the Czech Republic (+1.9%), while the prices for the other major destinations experienced more modest paces of growth.
Spices; Turmeric (Curcuma) Imports in Latvia
In 2022, approx. 180 tons of spices; turmeric (curcuma) were imported into Latvia; increasing by 35% against 2021. The total import volume increased at an average annual rate of +1.2% from 2019 to 2022; however, 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.
In value terms, spices; turmeric (curcuma) imports skyrocketed to $298K in 2022. The total import value increased at an average annual rate of +9.6% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Spices; Turmeric (Curcuma) in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 175 | 163 | 140 | 206 | 5.6% |
| Lithuania | 13.4 | 16.0 | 27.8 | 28.6 | 28.8% |
| Poland | 2.2 | 4.9 | 6.3 | 18.5 | 103.4% |
| Others | 36.0 | 53.9 | 35.4 | 45.0 | 7.7% |
| Total | 227 | 237 | 210 | 298 | 9.5% |
Top Suppliers of Spices; Turmeric (Curcuma) to Latvia in 2022:
- India (157.3 tons)
- Lithuania (9.0 tons)
- Poland (9.0 tons)
Spices; Turmeric (Curcuma) Exports in Latvia
In 2022, spices; turmeric (curcuma) exports from Latvia contracted to 130 tons, with a decrease of -12.7% compared with the previous year's figure. Over the period under review, exports continue to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2021 when exports increased by 24%.
In value terms, spices; turmeric (curcuma) exports fell dramatically to $268K in 2022. Overall, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 87%. As a result, the exports attained the peak of $401K, and then shrank markedly in the following year.
| Export of Spices; Turmeric (Curcuma) in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Romania | 78.6 | 35.1 | 54.2 | 74.2 | -1.9% |
| Poland | 66.6 | 55.5 | 50.9 | 51.4 | -8.3% |
| Hungary | 18.3 | 29.9 | 41.2 | 35.2 | 24.4% |
| Lithuania | 23.5 | 21.7 | 26.8 | 33.5 | 12.5% |
| Russia | 41.6 | 40.7 | 7.7 | 24.7 | -16.0% |
| Czech Republic | 21.1 | 21.1 | 21.5 | 11.4 | -18.6% |
| Serbia | N/A | N/A | 15.3 | 10.4 | -32.0% |
| Others | 14.3 | 10.4 | 183 | 27.4 | 24.2% |
| Total | 264 | 214 | 401 | 268 | 0.5% |
Top Export Markets for Spices; Turmeric (Curcuma) from Latvia in 2022:
- Romania (38.8 tons)
- Poland (27.3 tons)
- Hungary (18.5 tons)
- Lithuania (15.2 tons)
- Russia (8.3 tons)
- Czech Republic (6.0 tons)
- Serbia (6.0 tons)
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