Gum Arabic Price in Latvia - 2023

Contents:

1. Gum Arabic Price in Latvia (CIF) - 2022
2. Gum Arabic Price in Latvia (FOB) - 2022
3. Gum Arabic Imports in Latvia
4. Gum Arabic Exports in Latvia

Gum Arabic Price in Latvia (CIF) - 2022

The average gum arabic import price stood at $7,002 per ton in 2022, picking up by 71% against the previous year. Over the period under review, import price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Lithuania ($8,345 per ton), while the price for Italy ($5,500 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+19.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Gum Arabic Price in Latvia (FOB) - 2022

The average gum arabic export price stood at $7,390 per ton in 2022, picking up by 16% against the previous year. Overall, the export price enjoyed a prominent expansion. The pace of growth appeared the most rapid in 2019 an increase of 60%. The export price peaked at $10,260 per ton in 2020; however, from 2021 to 2022, the export prices remained at a 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 Russia ($121,810 per ton), while the average price for exports to Uzbekistan amounted to $6,917 per ton.

From 2015 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+2,199.2%).

Gum Arabic Imports in Latvia

In 2022, supplies from abroad of gum arabics decreased by -17.6% to 6.1 tons for the first time since 2018, thus ending a three-year rising trend. In general, imports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2021 when imports increased by 270%. As a result, imports attained the peak of 7.4 tons, and then declined rapidly in the following year.

In value terms, gum arabic imports surged to $43K in 2022. Over the period under review, imports, however, saw significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 246%. Imports peaked in 2022 and are likely to see steady growth in the near future.

Top Suppliers of Gum Arabic to Latvia in 2022:

1. Italy (undefined tons)
2. Germany (undefined tons)
3. France (5.1 tons)
4. Lithuania (1.0 tons)

Gum Arabic Exports in Latvia

In 2022, gum arabic exports from Latvia surged to 5.1 tons, rising by 31% on the year before. In general, exports posted a significant expansion. The pace of growth was the most pronounced in 2021 with an increase of 871% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in the near future.

In value terms, gum arabic exports skyrocketed to $38K in 2022. Overall, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 505% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

Top Export Markets for Gum Arabic from Latvia in 2022:

1. Russia (undefined tons)
2. Uzbekistan (5.1 tons)

Source: IndexBox Market Intelligence Platform