Price for Flour, Meal, and Flakes of Potatoes in Latvia - 2023

Contents:

1. Price for Flour, Meal, and Flakes of Potatoes in Latvia (CIF) - 2023
2. Price for Flour, Meal, and Flakes of Potatoes in Latvia (FOB) - 2022
3. Imports of Flour, Meal, and Flakes of Potatoes in Latvia
4. Exports of Flour, Meal, and Flakes of Potatoes in Latvia

Price for Flour, Meal, and Flakes of Potatoes in Latvia (CIF) - 2023

The average import price for flour, meal, and flakes of potatoeses stood at $2,855 per ton in September 2023, with an increase of 19% against the previous month. Over the period under review, import price indicated a remarkable increase from November 2022 to September 2023: its price increased at an average monthly rate of +6.1% over the last ten-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on September 2023 figures, import price for flour, meal, and flakes of potatoeses increased by +156.3% against May 2023 indices. The most prominent rate of growth was recorded in June 2023 an increase of 103% month-to-month. The import price peaked in September 2023.

As there is only one major supplying country, the average price level is determined by prices for Belgium.

From November 2022 to September 2023, the rate of growth in terms of prices for Belgium amounted to +2.2% per month.

Price for Flour, Meal, and Flakes of Potatoes in Latvia (FOB) - 2022

In 2022, the average export price for flour, meal, and flakes of potatoeses amounted to $2,262 per ton, falling by -7.1% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.1%. The pace of growth appeared the most rapid in 2014 when the average export price increased by 34% against the previous year. The export price peaked at $2,436 per ton in 2021, and then declined in the following year.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Estonia ($2,894 per ton) and Lithuania ($2,849 per ton), while the average price for exports to Russia ($2,031 per ton) and Romania ($2,417 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+4.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Flour, Meal, and Flakes of Potatoes in Latvia

For the fourth consecutive year, Latvia recorded growth in purchases abroad of flour, meal, and flakes of potatoeses, which increased by 63% to 1.5K tons in 2022. In general, imports showed a significant increase. The pace of growth was the most pronounced in 2020 with an increase of 89%. Over the period under review, imports of reached the peak figure in 2022 and are likely to continue growth in the near future.

In value terms, imports of flour, meal, and flakes of potatoeses soared to $2.3M in 2022. Over the period under review, imports showed a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Top Suppliers of Flour, Meal, and Flakes of Potatoes to Latvia in 2022:

1. Belgium (1215.9 tons)
2. Germany (202.9 tons)
3. Lithuania (64.0 tons)

Exports of Flour, Meal, and Flakes of Potatoes in Latvia

In 2022, overseas shipments of flour, meal, and flakes of potatoeses decreased by -35.6% to 106 tons, falling for the second year in a row after two years of growth. Overall, exports, however, continue to indicate significant growth. The pace of growth was the most pronounced in 2020 with an increase of 532% against the previous year. As a result, the exports reached the peak of 174 tons. From 2021 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of flour, meal, and flakes of potatoeses contracted markedly to $240K in 2022. In general, exports, however, enjoyed a significant expansion. The growth pace was the most rapid in 2020 when exports increased by 643% against the previous year. As a result, the exports attained the peak of $413K. From 2021 to 2022, the growth of the exports of remained at a lower figure.

Top Export Markets for Flour, Meal, and Flakes of Potatoes from Latvia in 2022:

1. Russia (75.5 tons)
2. Estonia (24.8 tons)
3. Romania (3.8 tons)
4. Lithuania (1.7 tons)

Source: IndexBox Market Intelligence Platform