Frozen Atlantic Halibut Price in Latvia - 2023

Contents:

1. Frozen Atlantic Halibut Price in Latvia (CIF) - 2023
2. Frozen Atlantic Halibut Price in Latvia (FOB) - 2022
3. Frozen Atlantic Halibut Imports in Latvia
4. Frozen Atlantic Halibut Exports in Latvia

Frozen Atlantic Halibut Price in Latvia (CIF) - 2023

The average frozen atlantic halibut import price stood at $6,922 per ton in September 2023, reducing by -1.6% against the previous month. Over the last twelve months, it increased at an average monthly rate of +1.6%. The pace of growth was the most pronounced in November 2022 an increase of 35% month-to-month. The import price peaked at $7,037 per ton in August 2023, and then shrank slightly in the following month.

Average prices varied noticeably amongst the major supplying countries. In September 2023, the country with the highest price was Norway ($7,279 per ton), while the price for Lithuania stood at $6,496 per ton.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Norway (+4.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Frozen Atlantic Halibut Price in Latvia (FOB) - 2022

In 2022, the average frozen atlantic halibut export price amounted to $6,257 per ton, picking up by 9.1% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average export price increased by 23%. Over the period under review, the average export prices attained the maximum at $8,574 per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Estonia ($7,039 per ton) and Denmark ($6,556 per ton), while the average price for exports to Poland ($5,528 per ton) and Lithuania ($6,025 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 Denmark (+55.3%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Atlantic Halibut Imports in Latvia

In 2022, frozen atlantic halibut imports into Latvia surged to 84 tons, with an increase of 131% against 2021. In general, imports continue to indicate strong growth.

In value terms, frozen atlantic halibut imports surged to $484K in 2022. Overall, imports saw buoyant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Top Suppliers of Frozen Atlantic Halibut to Latvia in 2022:

1. Lithuania (21.7 tons)
2. Norway (21.4 tons)
3. Denmark (19.6 tons)
4. Sweden (16.2 tons)
5. Estonia (3.4 tons)
6. Poland (1.0 tons)

Frozen Atlantic Halibut Exports in Latvia

In 2022, exports of frozen atlantic halibut from Latvia reduced rapidly to 19 tons, which is down by -30.4% on the previous year's figure. Overall, total exports indicated a notable expansion from 2019 to 2022: its volume increased at an average annual rate of +3.1% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +13.1% against 2020 indices. The pace of growth was the most pronounced in 2021 when exports increased by 63%. As a result, the exports reached the peak of 27 tons, and then declined notably in the following year.

In value terms, frozen atlantic halibut exports contracted remarkably to $116K in 2022. In general, exports recorded a pronounced reduction. The pace of growth appeared the most rapid in 2021 with an increase of 35%. As a result, the exports attained the peak of $153K, and then dropped sharply in the following year.

Top Export Markets for Frozen Atlantic Halibut from Latvia in 2022:

1. Lithuania (9.1 tons)
2. Estonia (4.8 tons)
3. Poland (3.0 tons)
4. Denmark (1.4 tons)

Source: IndexBox Market Intelligence Platform