Starches; Inulin Price in Latvia - 2023
Contents:
- Starches; Inulin Price in Latvia (CIF) - 2023
- Starches; Inulin Price in Latvia (FOB) - 2022
- Starches; Inulin Imports in Latvia
- Starches; Inulin Exports in Latvia
Starches; Inulin Price in Latvia (CIF) - 2023
In September 2023, the average starches; inulin import price amounted to $1,275 per ton, picking up by 2.6% against the previous month. Over the period from September 2022 to September 2023, it increased at an average monthly rate of +2.4%. The most prominent rate of growth was recorded in October 2022 when the average import price increased by 26% m-o-m. The import price peaked at $1,498 per ton in May 2023; however, from June 2023 to September 2023, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In September 2023, the country with the highest price was Germany ($3,731 per ton), while the price for France ($806 per ton) was amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Germany (+4.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Starches; Inulin Price in Latvia (FOB) - 2022
The average starches; inulin export price stood at $1,030 per ton in 2022, shrinking by -6.8% against the previous year. Over the last decade, it increased at an average annual rate of +3.7%. The most prominent rate of growth was recorded in 2021 when the average export price increased by 18% against the previous year. As a result, the export price reached the peak level of $1,104 per ton, and then fell in the following year.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($1,328 per ton), while the average price for exports to Belarus ($655 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 Russia (+5.6%), while the prices for the other major destinations experienced more modest paces of growth.
Starches; Inulin Imports in Latvia
In 2022, approx. 4.9K tons of starches; inulins were imported into Latvia; leveling off at the previous year's figure. Over the period under review, total imports indicated a remarkable increase from 2019 to 2022: its volume increased at an average annual rate of +15.2% 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 +61.1% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 61%. As a result, imports attained the peak of 4.9K tons, leveling off in the following year.
In value terms, starches; inulin imports soared to $5M in 2022. Overall, imports, however, showed a remarkable increase. The most prominent rate of growth was recorded in 2021 when imports increased by 55% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.
| Import of Starches; Inulin in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 125 | 123 | 912 | 978 | 98.5% |
| Lithuania | 1,014 | 584 | 682 | 909 | -3.6% |
| France | 78.2 | 551 | 597 | 824 | 119.2% |
| Poland | 581 | 216 | 617 | 728 | 7.8% |
| Sweden | 222 | 105 | 324 | 669 | 44.4% |
| Denmark | 134 | 64.8 | 210 | 255 | 23.9% |
| Finland | 34.6 | 35.8 | N/A | 152 | 63.8% |
| United Kingdom | 598 | 517 | N/A | N/A | -13.5% |
| Others | 233 | 313 | 548 | 497 | 28.7% |
| Total | 3,021 | 2,510 | 3,891 | 5,012 | 18.4% |
Top Suppliers of Starches; Inulin to Latvia in 2022:
- France (1221.1 tons)
- Lithuania (745.7 tons)
- Poland (739.3 tons)
- Sweden (736.8 tons)
- Germany (572.8 tons)
- Denmark (347.0 tons)
- Finland (139.0 tons)
Starches; Inulin Exports in Latvia
Starches; inulin exports from Latvia soared to 4.6K tons in 2022, rising by 19% compared with 2021. The total export volume increased at an average annual rate of +12.1% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 when exports increased by 23%. The exports peaked in 2022 and are expected to retain growth in years to come.
In value terms, starches; inulin exports stood at $4.7M in 2022. In general, total exports indicated a prominent expansion from 2019 to 2022: its value increased at an average annual rate of +14.8% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +51.3% against 2019 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 20%. The exports peaked in 2022 and are likely to see gradual growth in the near future.
| Export of Starches; Inulin in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Lithuania | 859 | 1,165 | 1,096 | 975 | 4.3% |
| Russia | 0.1 | 19.3 | 48.8 | 966 | 2029.7% |
| Kazakhstan | 191 | 171 | 93.8 | 465 | 34.5% |
| Spain | 0.7 | 194 | 466 | 421 | 744.1% |
| Netherlands | 64.9 | 102 | 28.1 | 336 | 73.0% |
| Estonia | 470 | 424 | 376 | 315 | -12.5% |
| Taiwan (Chinese) | 268 | 371 | 494 | 275 | 0.9% |
| United States | 547 | 708 | 1,135 | 182 | -30.7% |
| Czech Republic | 119 | 74.6 | 107 | 67.3 | -17.3% |
| Poland | 237 | 31.6 | 31.4 | 30.2 | -49.7% |
| Uzbekistan | 77.5 | 73.4 | 32.5 | N/A | -35.2% |
| Others | 280 | 404 | 333 | 675 | 34.1% |
| Total | 3,113 | 3,738 | 4,242 | 4,708 | 14.8% |
Top Export Markets for Starches; Inulin from Latvia in 2022:
- Lithuania (978.8 tons)
- Russia (909.2 tons)
- Kazakhstan (568.3 tons)
- Spain (370.0 tons)
- Estonia (306.8 tons)
- Netherlands (253.0 tons)
- United States (230.9 tons)
- Taiwan (Chinese) (215.8 tons)
- Czech Republic (49.0 tons)
- Poland (15.0 tons)
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