Latvia: Carrot And Turnip Market 2024

Carrot And Turnip Market Size in Latvia

In 2022, the Latvian carrot and turnip market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. Overall, consumption, however, recorded a abrupt shrinkage. Carrot and turnip consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Carrot And Turnip Production in Latvia

In value terms, carrot and turnip production reduced slightly to $X in 2022 estimated in export price. In general, production, however, recorded a abrupt setback. The pace of growth appeared the most rapid in 2019 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

The average yield of carrots and turnips in Latvia skyrocketed to X tons per ha in 2022, jumping by X% on 2021 figures. Overall, the yield indicated temperate growth from 2012 to 2022: its figure 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, carrot and turnip yield decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2014 when the yield increased by X%. Over the period under review, the average carrot and turnip yield attained the peak level at X tons per ha in 2020; however, from 2021 to 2022, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the carrot and turnip harvested area in Latvia dropped notably to X ha, with a decrease of X% against 2021 figures. Over the period under review, the harvested area faced a deep slump. The pace of growth was the most pronounced in 2016 when the harvested area increased by X%. Over the period under review, the harvested area dedicated to carrot and turnip production attained the maximum at X ha in 2013; however, from 2014 to 2022, the harvested area stood at a somewhat lower figure.

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Carrot And Turnip Exports

Exports from Latvia

In 2022, overseas shipments of carrots and turnips decreased by X% to X tons, falling for the second year in a row after four years of growth. Overall, exports, however, saw strong growth. The pace of growth appeared the most rapid in 2015 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, carrot and turnip exports contracted significantly to $X in 2022. In general, exports, however, posted a perceptible increase. The pace of growth was the most pronounced in 2017 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Estonia (X tons) was the main destination for carrot and turnip exports from Latvia, accounting for a X% share of total exports. Moreover, carrot and turnip exports to Estonia exceeded the volume sent to the second major destination, Lithuania (X tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Estonia totaled X%.

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

From 2012 to 2022, the average annual growth rate of value to Estonia amounted to X%.

Export Prices by Country

In 2022, the average carrot and turnip export price amounted to $X per ton, declining by X% against the previous year. Over the period under review, the export price continues to indicate a drastic downturn. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Lithuania ($X per ton), while the average price for exports to Estonia totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Finland (X%), while the prices for the other major destinations experienced mixed trend patterns.

Carrot And Turnip Imports

Imports into Latvia

In 2022, purchases abroad of carrots and turnips increased by X% to X tons, rising for the second year in a row after two years of decline. Over the period under review, total imports indicated a strong increase from 2012 to 2022: its volume 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, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, carrot and turnip imports fell modestly to $X in 2022. Overall, imports saw a remarkable increase. The most prominent rate of growth was recorded in 2018 when imports increased by X%. Over the period under review, imports attained the peak figure at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Lithuania (X tons) constituted the largest carrot and turnip supplier to Latvia, with a X% share of total imports. Moreover, carrot and turnip imports from Lithuania exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), twofold. Italy (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 Lithuania stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (X% per year) and Italy (X% per year).

In value terms, Portugal ($X), Lithuania ($X) and Italy ($X) were the largest carrot and turnip suppliers to Latvia, with a combined X% share of total imports. The Netherlands, Sweden, Germany, Poland and France lagged somewhat behind, together accounting for a further X%.

Sweden, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average carrot and turnip import price stood at $X per ton in 2022, declining by X% against the previous year. In general, import price indicated tangible growth 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, carrot and turnip import price increased by X% against 2020 indices. The growth pace was the most rapid in 2021 an increase of X%. As a result, import price reached the peak level of $X per ton, and then shrank slightly in the following year.

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 Sweden ($X per ton), while the price for Lithuania ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform