Onion Price in Latvia - 2024
Contents:
- Onion Price in Latvia (CIF) - 2024
- Onion Price in Latvia (FOB) - 2024
- Onion Imports in Latvia
- Onion Exports in Latvia
Onion Price in Latvia (CIF) - 2024
The average onion import price stood at $652 per ton in March 2024, jumping by 22% against the previous month. In general, the import price, however, showed a deep slump. Over the period under review, average import prices attained the peak figure at $1,422 per ton in March 2023; however, from April 2023 to March 2024, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In March 2024, the country with the highest price was the Netherlands ($1,384 per ton), while the price for Kazakhstan ($315 per ton) was amongst the lowest.
From March 2023 to March 2024, the most notable rate of growth in terms of prices was attained by Denmark (-1.4%), while the prices for the other major suppliers experienced a decline.
Onion Price in Latvia (FOB) - 2024
In March 2024, the average onion export price amounted to $631 per ton, with an increase of 8.8% against the previous month. Over the period under review, the export price, however, saw a pronounced descent. Over the period under review, the average export prices reached the maximum at $1,026 per ton in April 2023; however, from May 2023 to March 2024, the export prices remained at a lower figure.
Average prices varied noticeably for the major overseas markets. In March 2024, the country with the highest price was Estonia ($649 per ton), while the average price for exports to Lithuania totaled $592 per ton.
From March 2023 to March 2024, the most notable rate of growth in terms of prices was recorded for supplies to Poland (+3.1%), while the prices for the other major destinations experienced a decline.
Onion Imports in Latvia
Onion imports into Latvia dropped to 12K tons in 2022, reducing by -11% compared with the previous year's figure. Over the period under review, imports showed a abrupt downturn. The most prominent rate of growth was recorded in 2021 with an increase of 6.1%.
In value terms, onion imports fell slightly to $5.2M in 2022. Overall, imports saw a abrupt downturn. The growth pace was the most rapid in 2021 when imports increased by 11% against the previous year.
| Import of Onion in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 2,121 | 2,011 | 2,441 | 2,371 | 3.8% |
| Lithuania | 996 | 1,209 | 1,136 | 1,038 | 1.4% |
| Poland | 409 | 360 | 714 | 879 | 29.0% |
| Denmark | 38.9 | 235 | 184 | 235 | 82.1% |
| Germany | 0.8 | 9.8 | 56.7 | 216 | 546.3% |
| Estonia | 40.3 | 59.4 | 176 | 121 | 44.3% |
| Uzbekistan | 1,330 | 257 | 338 | 48.7 | -66.8% |
| Kazakhstan | 369 | 68.2 | 29.5 | N/A | -71.7% |
| Ukraine | 147 | 196 | 4.0 | N/A | -83.5% |
| Others | 850 | 300 | 162 | 271 | -31.7% |
| Total | 6,301 | 4,705 | 5,241 | 5,180 | -6.3% |
Top Suppliers of Onion to Latvia in 2022:
- Netherlands (4.3K tons)
- Poland (2.8K tons)
- Lithuania (2.5K tons)
- Denmark (0.9K tons)
- Estonia (0.2K tons)
- Germany (0.2K tons)
- Uzbekistan (0.1K tons)
Onion Exports in Latvia
In 2022, approx. 4.4K tons of onions (dry) were exported from Latvia; increasing by 13% compared with the previous year. Overall, exports, however, showed a relatively flat trend pattern.
In value terms, onion exports soared to $2.1M in 2022. Over the period under review, exports, however, showed a abrupt setback.
| Export of Onion in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Estonia | 1,218 | 881 | 1,112 | 1,415 | 5.1% |
| Lithuania | 1,152 | 710 | 569 | 542 | -22.2% |
| Ukraine | N/A | N/A | N/A | 29.4 | 0% |
| Others | 105 | 9.9 | 0.8 | 69.4 | -12.9% |
| Total | 2,476 | 1,602 | 1,681 | 2,056 | -6.0% |
Top Export Markets for Onion from Latvia in 2022:
- Estonia (3.1K tons)
- Lithuania (1.1K tons)
- Ukraine (0.1K tons)
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