Price for Flax; Hackled or Otherwise Processed, But Not Spun in Latvia - 2023

Contents:

1. Price for Flax; Hackled or Otherwise Processed, But Not Spun in Latvia (FOB) - 2022
2. Price for Flax; Hackled or Otherwise Processed, But Not Spun in Latvia (CIF) - 2023
3. Exports of Flax; Hackled or Otherwise Processed, But Not Spun in Latvia
4. Imports of Flax; Hackled or Otherwise Processed, But Not Spun in Latvia

Price for Flax; Hackled or Otherwise Processed, But Not Spun in Latvia (FOB) - 2022

The average export price for flax; hackled or otherwise processed, but not spuns stood at $1,920 per ton in 2022, shrinking by -8.6% against the previous year. Overall, export price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 an increase of 61%. As a result, the export price reached the peak level of $2,340 per ton. From 2015 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($2,103 per ton), while the average price for exports to Russia ($780 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+5.8%), while the prices for the other major destinations experienced mixed trend patterns.

Price for Flax; Hackled or Otherwise Processed, But Not Spun in Latvia (CIF) - 2023

In November 2023, the average import price for flax; hackled or otherwise processed, but not spuns amounted to $3,068 per ton, increasing by 13% against the previous month. Over the period under review, import price indicated a measured expansion from December 2022 to November 2023: its price increased at an average monthly rate of +4.3% over the last eleven months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on November 2023 figures, import price for flax; hackled or otherwise processed, but not spuns increased by +14.2% against June 2023 indices. The pace of growth appeared the most rapid in June 2023 an increase of 42% against the previous month. The import price peaked in November 2023.

There were significant differences in the average prices amongst the major supplying countries. In November 2023, the country with the highest price was France ($3,701 per ton), while the price for Lithuania ($1,277 per ton) was amongst the lowest.

From December 2022 to November 2023, the most notable rate of growth in terms of prices was attained by France (+5.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Exports of Flax; Hackled or Otherwise Processed, But Not Spun in Latvia

For the fourth year in a row, Latvia recorded growth in shipments abroad of flax; hackled or otherwise processed, but not spuns, which increased by 81% to 2.3K tons in 2022. In general, exports continue to indicate significant growth. The pace of growth was the most pronounced in 2020 with an increase of 516% against the previous year. Over the period under review, the exports of reached the maximum in 2022 and are likely to see gradual growth in the near future.

In value terms, exports of flax; hackled or otherwise processed, but not spuns skyrocketed to $4.5M in 2022. Over the period under review, exports posted a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 525%. Over the period under review, the exports of reached the maximum in 2022 and are likely to see gradual growth in years to come.

Top Export Markets for Flax; Hackled or Otherwise Processed, But Not Spun from Latvia in 2022:

1. France (1074.0 tons)
2. India (984.8 tons)
3. Belgium (160.6 tons)
4. Russia (106.1 tons)

Imports of Flax; Hackled or Otherwise Processed, But Not Spun in Latvia

Imports of flax; hackled or otherwise processed, but not spuns into Latvia skyrocketed to 2.4K tons in 2022, picking up by 63% against 2021 figures. Over the period under review, imports posted a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 273%. Imports peaked in 2022 and are likely to continue growth in the near future.

In value terms, imports of flax; hackled or otherwise processed, but not spuns surged to $4.5M in 2022. In general, imports saw a significant increase. The growth pace was the most rapid in 2020 when imports increased by 389% against the previous year. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in the near future.

Top Suppliers of Flax; Hackled or Otherwise Processed, But Not Spun to Latvia in 2022:

1. Belarus (1199.3 tons)
2. France (1092.3 tons)
3. Russia (68.2 tons)

Source: IndexBox Market Intelligence Platform