Price for Crustaceans, Molluscs and Other Aquatic Invertebrates, Prepared or Preserved in Latvia - 2023

Contents:

1. Price for Crustaceans, Molluscs and Other Aquatic Invertebrates, Prepared or Preserved in Latvia (CIF) - 2023
2. Price for Crustaceans, Molluscs and Other Aquatic Invertebrates, Prepared or Preserved in Latvia (FOB) - 2023
3. Imports of Crustaceans, Molluscs and Other Aquatic Invertebrates, Prepared or Preserved in Latvia
4. Exports of Crustaceans, Molluscs and Other Aquatic Invertebrates, Prepared or Preserved in Latvia

Price for Crustaceans, Molluscs and Other Aquatic Invertebrates, Prepared or Preserved in Latvia (CIF) - 2023

In October 2023, the average import price for crustaceans, molluscs and other aquatic invertebrates, prepared or preserveds amounted to $5,454 per ton, falling by -26.3% against the previous month. Overall, import price indicated a modest expansion from October 2022 to October 2023: its price increased at an average monthly rate of +1.6% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on October 2023 figures, import price for crustaceans, molluscs and other aquatic invertebrates, prepared or preserveds decreased by -26.3% against September 2023 indices. The most prominent rate of growth was recorded in November 2022 an increase of 65% m-o-m. The import price peaked at $8,889 per ton in June 2023; however, from July 2023 to October 2023, import prices failed to regain momentum.

Prices varied noticeably by the country of origin: the country with the highest price was Denmark ($11,439 per ton), while the price for Chile ($2,591 per ton) was amongst the lowest.

From October 2022 to October 2023, the most notable rate of growth in terms of prices was attained by Estonia (+4.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Crustaceans, Molluscs and Other Aquatic Invertebrates, Prepared or Preserved in Latvia (FOB) - 2023

In October 2023, the average export price for crustaceans, molluscs and other aquatic invertebrates, prepared or preserveds amounted to $9,067 per ton, growing by 5.4% against the previous month. In general, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in May 2023 an increase of 23% against the previous month. As a result, the export price reached the peak level of $9,364 per ton. From June 2023 to October 2023, the the average export prices failed to regain momentum.

Average prices varied noticeably for the major foreign markets. In October 2023, the highest price was recorded for prices to Moldova ($10,403 per ton) and Israel ($10,311 per ton), while the average price for exports to Lithuania ($8,654 per ton) and Germany ($8,794 per ton) were amongst the lowest.

From October 2022 to October 2023, the most notable rate of growth in terms of prices was recorded for supplies to Israel (+16.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Crustaceans, Molluscs and Other Aquatic Invertebrates, Prepared or Preserved in Latvia

In 2022, imports of crustaceans, molluscs and other aquatic invertebrates, prepared or preserveds into Latvia soared to 1.1K tons, jumping by 23% on the previous year's figure. Overall, imports showed significant growth. The pace of growth was the most pronounced in 2021 when imports increased by 39% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, imports of crustaceans, molluscs and other aquatic invertebrates, prepared or preserveds expanded notably to $6.7M in 2022. Over the period under review, total imports indicated resilient growth from 2019 to 2022: its value increased at an average annual rate of +15.2% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +55.6% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 37%. Imports peaked in 2022 and are likely to see gradual growth in years to come.

Top Suppliers of Crustaceans, Molluscs and Other Aquatic Invertebrates, Prepared or Preserved to Latvia in 2022:

1. Chile (369.1 tons)
2. Lithuania (106.3 tons)
3. China (77.2 tons)
4. Netherlands (76.2 tons)
5. Estonia (74.7 tons)
6. Denmark (72.1 tons)
7. Spain (69.9 tons)
8. Belgium (55.8 tons)
9. Sweden (47.4 tons)
10. Vietnam (31.5 tons)
11. Peru (9.7 tons)

Exports of Crustaceans, Molluscs and Other Aquatic Invertebrates, Prepared or Preserved in Latvia

In 2022, approx. 475 tons of crustaceans, molluscs and other aquatic invertebrates, prepared or preserveds were exported from Latvia; with an increase of 5.4% against the year before. Over the period under review, total exports indicated a significant increase from 2019 to 2022: its volume increased at an average annual rate of +20.7% 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 +75.7% against 2019 indices. The pace of growth appeared the most rapid in 2020 when exports increased by 41%. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, exports of crustaceans, molluscs and other aquatic invertebrates, prepared or preserveds amounted to $3.8M in 2022. Overall, total exports indicated a significant expansion from 2019 to 2022: its value increased at an average annual rate of +20.6% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +75.6% against 2019 indices. The pace of growth was the most pronounced in 2020 when exports increased by 36%. Over the period under review, the exports of attained the peak figure in 2022 and are expected to retain growth in years to come.

Top Export Markets for Crustaceans, Molluscs and Other Aquatic Invertebrates, Prepared or Preserved from Latvia in 2022:

1. Germany (186.7 tons)
2. Lithuania (169.5 tons)
3. Estonia (79.9 tons)
4. United States (13.5 tons)
5. Russia (9.1 tons)

Source: IndexBox Market Intelligence Platform