Latvia: Market for Butter And Dairy Spreads 2024

Market Size for Butter And Dairy Spreads in Latvia

The Latvian butter and dairy spreads market expanded markedly to $X in 2022, picking up by X% against the previous year. In general, consumption, however, saw a strong expansion. Over the period under review, the market hit record highs in 2022 and is likely to see steady growth in years to come.

Production of Butter And Dairy Spreads in Latvia

In value terms, butter and dairy spreads production declined modestly to $X in 2022 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of X%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Exports of Butter And Dairy Spreads

Exports from Latvia

In 2022, the amount of butter and dairy spreads exported from Latvia surged to X tons, jumping by X% against 2021 figures. Over the period under review, exports, however, saw a abrupt slump. The most prominent rate of growth was recorded in 2013 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, butter and dairy spreads exports soared to $X in 2022. Overall, exports, however, recorded a drastic downturn. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Estonia (X tons) was the main destination for butter and dairy spreads exports from Latvia, accounting for a X% share of total exports. Moreover, butter and dairy spreads exports to Estonia exceeded the volume sent to the second major destination, Lithuania (X tons), fourfold. Germany (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Estonia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lithuania (X% per year) and Germany (X% per year).

In value terms, Estonia ($X) remains the key foreign market for butter and dairy spreads exports from Latvia, comprising X% of total exports. The second position in the ranking was taken by Lithuania ($X), with a X% share of total exports. It was followed by Germany, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Estonia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lithuania (X% per year) and Germany (X% per year).

Export Prices by Country

The average butter and dairy spreads export price stood at $X per ton in 2022, increasing by X% against the previous year. Over the period under review, export price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, butter and dairy spreads export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the average export price increased by X% against the previous year. The export price peaked in 2022 and is likely to see steady growth in the immediate term.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were the Netherlands ($X per ton) and Germany ($X per ton), while the average price for exports to Estonia ($X per ton) and Poland ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Butter And Dairy Spreads

Imports into Latvia

In 2022, overseas purchases of butter and dairy spreads decreased by X% to X tons, falling for the second year in a row after five years of growth. Over the period under review, imports, however, saw a strong increase. The most prominent rate of growth was recorded in 2017 when imports increased by X%. Over the period under review, imports reached the maximum at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, butter and dairy spreads imports surged to $X in 2022. Overall, imports, however, posted a resilient increase. The pace of growth appeared the most rapid in 2017 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Poland (X tons) constituted the largest supplier of butter and dairy spreads to Latvia, accounting for a X% share of total imports. Moreover, butter and dairy spreads imports from Poland exceeded the figures recorded by the second-largest supplier, Lithuania (X tons), fivefold. Estonia (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Poland amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Lithuania (X% per year) and Estonia (X% per year).

In value terms, Poland ($X) constituted the largest supplier of butter and dairy spreads to Latvia, comprising X% of total imports. The second position in the ranking was taken by Lithuania ($X), with a X% share of total imports. It was followed by Estonia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Poland totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Lithuania (X% per year) and Estonia (X% per year).

Import Prices by Country

In 2022, the average butter and dairy spreads import price amounted to $X per ton, rising by X% against the previous year. In general, import price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, butter and dairy spreads import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the average import price increased by X%. The import price peaked in 2022 and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Lithuania ($X per ton) and Estonia ($X per ton), while the price for Finland ($X per ton) and Poland ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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