Price for Crustacean preparations; shrimps and prawns, prepared or preserved, not in airtight containers in Latvia - 2023

Contents:

1. Price for Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, Not in Airtight Containers in Latvia (CIF) - 2022
2. Price for Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, Not in Airtight Containers in Latvia (FOB) - 2022
3. Imports of Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, Not in Airtight Containers in Latvia
4. Exports of Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, Not in Airtight Containers in Latvia

Price for Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, Not in Airtight Containers in Latvia (CIF) - 2022

The average import price for crustacean preparations; shrimps and prawns, prepared or preserved, not in airtight containerses stood at $9,894 per ton in 2022, stabilizing at the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.2%. The growth pace was the most rapid in 2017 an increase of 14% against the previous year. Over the period under review, average import prices attained the peak figure at $10,458 per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from the Netherlands ($11,331 per ton) and India ($11,178 per ton), while the price for Denmark ($7,984 per ton) and Estonia ($8,854 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iceland (+8.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, Not in Airtight Containers in Latvia (FOB) - 2022

In 2022, the average export price for crustacean preparations; shrimps and prawns, prepared or preserved, not in airtight containerses amounted to $9,690 per ton, with an increase of 3.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.2%. The most prominent rate of growth was recorded in 2013 when the average export price increased by 24%. Over the period under review, the average export prices reached the peak figure at $10,676 per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Lithuania ($9,793 per ton), while the average price for exports to Estonia amounted to $9,153 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Sweden (+5.0%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, Not in Airtight Containers in Latvia

Imports of crustacean preparations; shrimps and prawns, prepared or preserved, not in airtight containerses into Latvia reduced notably to 215 tons in 2022, waning by -26.1% on the previous year. In general, imports recorded a drastic downturn. The pace of growth appeared the most rapid in 2021 with an increase of 24% against the previous year. As a result, imports reached the peak of 292 tons, and then contracted significantly in the following year.

In value terms, imports of crustacean preparations; shrimps and prawns, prepared or preserved, not in airtight containerses fell sharply to $2.1M in 2022. Over the period under review, imports showed a perceptible descent. The most prominent rate of growth was recorded in 2021 when imports increased by 33% against the previous year. As a result, imports reached the peak of $2.9M, and then dropped notably in the following year.

Top Suppliers of Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, Not in Airtight Containers to Latvia in 2022:

1. Sweden (44.2 tons)
2. Estonia (36.1 tons)
3. Vietnam (31.5 tons)
4. Lithuania (26.0 tons)
5. Netherlands (23.1 tons)
6. Denmark (20.0 tons)
7. India (16.0 tons)
8. Belgium (14.5 tons)

Exports of Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, Not in Airtight Containers in Latvia

In 2022, approx. 113 tons of crustacean preparations; shrimps and prawns, prepared or preserved, not in airtight containerses were exported from Latvia; reducing by -14.5% against the previous year's figure. The total export volume increased at an average annual rate of +5.5% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 40% against the previous year. As a result, the exports attained the peak of 132 tons, and then contracted in the following year.

In value terms, exports of crustacean preparations; shrimps and prawns, prepared or preserved, not in airtight containerses contracted to $1.1M in 2022. Overall, total exports indicated a resilient increase from 2019 to 2022: its value increased at an average annual rate of +10.0% 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 +33.3% against 2019 indices. The pace of growth was the most pronounced in 2021 with an increase of 43%. As a result, the exports reached the peak of $1.2M, and then fell in the following year.

Top Export Markets for Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, Not in Airtight Containers from Latvia in 2022:

1. Lithuania (94.4 tons)
2. Estonia (18.2 tons)

Source: IndexBox Market Intelligence Platform