Latvia: Market for Cherries and Sour Cherries 2024

Market Size for Cherries and Sour Cherries in Latvia

In 2022, the Latvian cherry and sour cherry market increased by X% to $X, rising for the fifth consecutive year after three years of decline. Overall, consumption continues to indicate a prominent expansion. Over the period under review, the market attained the peak level in 2022 and is expected to retain growth in years to come.

Production of Cherries and Sour Cherries in Latvia

In value terms, cherry and sour cherry production rose slightly to $X in 2022 estimated in export price. Overall, production posted a notable expansion. The pace of growth appeared the most rapid in 2013 with an increase of X%. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

The average yield of cherries and sour cherries in Latvia shrank to X kg per ha in 2022, almost unchanged from the previous year. In general, the yield saw a slight decrease. The pace of growth was the most pronounced in 2015 when the yield increased by X% against the previous year. The cherry and sour cherry yield peaked at X kg per ha in 2016; however, from 2017 to 2022, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of cherries and sour cherries were harvested in Latvia; picking up by X% compared with 2021. Over the period under review, the total harvested area indicated prominent 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, cherry and sour cherry harvested area decreased by X% against 2020 indices. The growth pace was the most rapid in 2013 with an increase of X%. Over the period under review, the harvested area dedicated to cherry and sour cherry production reached the maximum at X ha in 2014; however, from 2015 to 2022, the harvested area failed to regain momentum.

Exports of Cherries and Sour Cherries

Exports from Latvia

For the fourth consecutive year, Latvia recorded growth in shipments abroad of cherries and sour cherries, which increased by X% to X tons in 2022. In general, exports continue to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the near future.

In value terms, cherry and sour cherry exports shrank to $X in 2022. Over the period under review, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. The exports peaked at $X in 2021, and then declined in the following year.

Exports by Country

Estonia (X tons), Lithuania (X tons) and Russia (X kg) were the main destinations of cherry and sour cherry exports from Latvia.

From 2012 to 2022, the biggest increases were recorded for Lithuania (with a CAGR of X%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Estonia ($X), Lithuania ($X) and Russia ($X) constituted the largest markets for cherry and sour cherry exported from Latvia worldwide.

In terms of the main countries of destination, Lithuania, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average cherry and sour cherry export price amounted to $X per ton, with a decrease of X% against the previous year. Over the period under review, the export price, however, recorded a mild expansion. The most prominent rate of growth was recorded in 2018 an increase of X%. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Lithuania ($X 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 (X%), while the prices for the other major destinations experienced a decline.

Imports of Cherries and Sour Cherries

Imports into Latvia

In 2022, purchases abroad of cherries and sour cherries increased by X% to X tons, rising for the sixth year in a row after two years of decline. Over the period under review, imports posted a buoyant increase. The most prominent rate of growth was recorded in 2014 when imports increased by X%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, cherry and sour cherry imports totaled $X in 2022. In general, imports enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2019 when imports increased by X%. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the near future.

Imports by Country

In 2022, Greece (X tons) constituted the largest cherry and sour cherry supplier to Latvia, accounting for a X% share of total imports. Moreover, cherry and sour cherry imports from Greece exceeded the figures recorded by the second-largest supplier, Spain (X tons), fivefold. The third position in this ranking was held by North Macedonia (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Greece amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (X% per year) and North Macedonia (X% per year).

In value terms, Greece ($X) constituted the largest supplier of cherries and sour cherries to Latvia, comprising X% of total imports. The second position in the ranking was taken by Spain ($X), with a X% share of total imports. It was followed by Germany, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Greece amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (X% per year) and Germany (X% per year).

Import Prices by Country

The average cherry and sour cherry import price stood at $X per ton in 2022, reducing by X% against the previous year. Overall, the import price continues to indicate a perceptible curtailment. The pace of growth appeared the most rapid in 2019 an increase of X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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