Latvia: Potassic Fertilizer Market 2024

Potassic Fertilizer Market Size in Latvia

In 2022, after three years of growth, there was significant decline in the Latvian potassic fertilizer market, when its value decreased by X% to $X. Overall, consumption, however, saw a strong expansion. Over the period under review, the market attained the peak level at $X in 2021, and then shrank in the following year.

Potassic Fertilizer Production in Latvia

In value terms, potassic fertilizer production totaled $X in 2022 estimated in export price. In general, production saw a slight descent. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Potassic fertilizer production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

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Potassic Fertilizer Exports

Exports from Latvia

Potassic fertilizer exports from Latvia reduced to X tons in 2022, which is down by X% against 2021 figures. Over the period under review, exports, however, saw a mild increase. The pace of growth appeared the most rapid in 2014 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, potassic fertilizer exports expanded notably to $X in 2022. Overall, exports, however, enjoyed a measured expansion. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to continue growth in years to come.

Exports by Country

Lithuania (X tons) was the main destination for potassic fertilizer exports from Latvia, accounting for a X% share of total exports. Moreover, potassic fertilizer exports to Lithuania exceeded the volume sent to the second major destination, Poland (X tons), twofold. The third position in this ranking was held by France (X tons), with a X% share.

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

In value terms, the largest markets for potassic fertilizer exported from Latvia were Lithuania ($X), Poland ($X) and France ($X), with a combined X% share of total exports.

Among the main countries of destination, France, with a CAGR of X.2%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average potassic fertilizer export price stood at $X per ton in 2022, jumping by X% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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

Potassic Fertilizer Imports

Imports into Latvia

After three years of growth, supplies from abroad of potassic fertilizers decreased by X% to X tons in 2022. In general, imports, however, posted a buoyant expansion. The most prominent rate of growth was recorded in 2019 when imports increased by X%. Over the period under review, imports reached the peak figure at X tons in 2021, and then dropped in the following year.

In value terms, potassic fertilizer imports shrank modestly to $X in 2022. Over the period under review, imports, however, posted a buoyant increase. The pace of growth was the most pronounced in 2019 when imports increased by X%. Over the period under review, imports reached the maximum at $X in 2021, and then declined slightly in the following year.

Imports by Country

In 2022, Russia (X tons) constituted the largest potassic fertilizer supplier to Latvia, with a X% share of total imports. Moreover, potassic fertilizer imports from Russia exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. Lithuania (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Russia stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Lithuania (X% per year).

In value terms, Russia ($X) constituted the largest supplier of potassic fertilizers to Latvia, comprising X% of total imports. The second position in the ranking was taken by Germany ($X), with a X% share of total imports. It was followed by Lithuania, with a X% share.

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

Import Prices by Country

The average potassic fertilizer import price stood at $X per ton in 2022, rising by X% against the previous year. Overall, the import price, however, showed a noticeable decline. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Poland ($X per ton), while the price for Russia ($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 a decline.

Source: IndexBox Platform

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