Latvia: Carob Market 2023

Carob Market Size in Latvia

The Latvian carob market was estimated at less than $X in 2022, leveling off at the previous year. Over the period under review, consumption continues to indicate a relatively flat trend pattern.

Carob Production in Latvia

In value terms, carob production totaled $X in 2022 estimated in export price. In general, production saw a abrupt slump. The most prominent rate of growth was recorded in 2017 when the production volume decreased by 99.9% against the previous year. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

The average yield of carob in Latvia stood at less than X kg per ha in 2022, almost unchanged from the previous year. In general, the yield continues to indicate a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The carob harvested area in Latvia stood at less than X ha in 2022, stabilizing at the previous year. Overall, the harvested area recorded a relatively flat trend pattern.

Carob Imports

Imports into Latvia

Carob imports into Latvia totaled X kg in 2022, stabilizing at 2021 figures. Overall, imports showed a significant expansion. The smallest decline of 99.9% was in 2017. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the near future.

In value terms, carob imports totaled $X in 2022. Over the period under review, imports enjoyed a significant expansion. The smallest decline of 99.9% was in 2017. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

Germany (X kg) and the Netherlands (X kg) were the main suppliers of carob imports to Latvia. Moreover, carob imports in Germany exceeded the figures recorded by the second-largest supplier, the Netherlands, twofold.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of +40.5%).

In value terms, Germany ($X) constituted the largest supplier of carob to Latvia, comprising 71% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 29% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Germany totaled +46.1%.

Import Prices by Country

In 2022, the average carob import price amounted to $X per ton, stabilizing at the previous year. Over the period under review, the import price saw a measured expansion. The growth pace was the most rapid in 2017 a decrease of 99.9% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for the Netherlands stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+8.5%).

Source: IndexBox Platform

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