Flakes; of Potatoes Price in Latvia - 2023

Contents:

1. Flakes; of Potatoes Price in Latvia (CIF) - 2023
2. Flakes; of Potatoes Price in Latvia (FOB) - 2022
3. Flakes; of Potatoes Imports in Latvia
4. Flakes; of Potatoes Exports in Latvia

Flakes; of Potatoes Price in Latvia (CIF) - 2023

The average flakes; of potatoes import price stood at $2,854 per ton in September 2023, growing by 19% against the previous month. Overall, import price indicated moderate growth from November 2022 to September 2023: its price increased at an average monthly rate of +2.2% over the last ten months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on September 2023 figures, flakes; of potatoes import price increased by +156.5% against May 2023 indices. The pace of growth appeared the most rapid in June 2023 an increase of 107% m-o-m. The import price peaked at $2,897 per ton in April 2023; afterwards, it flattened through to September 2023.

As there is only one major supplying country, the average price level is determined by prices for Belgium.

From November 2022 to September 2023, the rate of growth in terms of prices for Belgium amounted to +2.2% per month.

Flakes; of Potatoes Price in Latvia (FOB) - 2022

In 2022, the average flakes; of potatoes export price amounted to $2,260 per ton, reducing by -7.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.0%. The most prominent rate of growth was recorded in 2014 an increase of 33%. The export price peaked at $2,437 per ton in 2021, and then contracted in the following year.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Estonia ($2,896 per ton) and Lithuania ($2,849 per ton), while the average price for exports to Russia ($2,031 per ton) and Romania ($2,417 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 (+4.0%), while the prices for the other major destinations experienced more modest paces of growth.

Flakes; of Potatoes Imports in Latvia

In 2022, approx. 1.3K tons of flakes; of potatoeses were imported into Latvia; rising by 64% on the previous year's figure. Over the period under review, imports showed a significant expansion. The pace of growth appeared the most rapid in 2020 when imports increased by 122%. 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, flakes; of potatoes imports soared to $2M in 2022. Overall, imports recorded significant growth. The growth pace was the most rapid in 2020 when imports increased by 96%. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

Top Suppliers of Flakes; of Potatoes to Latvia in 2022:

1. Belgium (1215.9 tons)
2. Germany (76.4 tons)

Flakes; of Potatoes Exports in Latvia

In 2022, overseas shipments of flakes; of potatoeses decreased by -35.6% to 106 tons, falling for the second year in a row after two years of growth. Overall, exports, however, showed a significant increase. The pace of growth was the most pronounced in 2020 when exports increased by 532% against the previous year. As a result, the exports reached the peak of 174 tons. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, flakes; of potatoes exports contracted dramatically to $239K in 2022. In general, exports, however, enjoyed a significant increase. The pace of growth was the most pronounced in 2020 when exports increased by 642%. As a result, the exports reached the peak of $412K. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

Top Export Markets for Flakes; of Potatoes from Latvia in 2022:

1. Russia (75.5 tons)
2. Estonia (24.7 tons)
3. Romania (3.8 tons)
4. Lithuania (1.7 tons)

Source: IndexBox Market Intelligence Platform