Price for Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% in Latvia - 2024

Contents:

1. Price for Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% in Latvia (CIF) - 2024
2. Price for Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% in Latvia (FOB) - 2022
3. Imports of Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% in Latvia
4. Exports of Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% in Latvia

Price for Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% in Latvia (CIF) - 2024

The average import price for powdered sweetened milk and cream of fat weight content over 1.5% stood at $2,585 per ton in March 2024, which is down by -3.5% against the previous month. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in November 2023 when the average import price increased by 18% m-o-m. As a result, import price reached the peak level of $3,211 per ton. From December 2023 to March 2024, the average import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In March 2024, the country with the highest price was Lithuania ($2,696 per ton), while the price for Estonia ($2,531 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 Lithuania (+0.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% in Latvia (FOB) - 2022

The average export price for powdered sweetened milk and cream of fat weight content over 1.5% stood at $2,586 per ton in 2022, increasing by 11% against the previous year. Over the period under review, the export price, however, showed a slight reduction. The pace of growth was the most pronounced in 2017 when the average export price increased by 30%. Over the period under review, the average export prices reached the maximum at $3,152 per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Estonia ($2,729 per ton) and Lithuania ($2,528 per ton), while the average price for exports to Bulgaria ($2,263 per ton) and the United States ($2,290 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 Bulgaria (+15.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% in Latvia

After two years of decline, overseas purchases of powdered sweetened milk and cream of fat weight content over 1.5% increased by 88% to 819 tons in 2022. In general, imports, however, continue to indicate a pronounced curtailment.

In value terms, imports of powdered sweetened milk and cream of fat weight content over 1.5% soared to $1.8M in 2022. Overall, imports recorded a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Top Suppliers of Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% to Latvia in 2022:

1. Germany (527.4 tons)
2. Lithuania (228.8 tons)
3. Poland (38.8 tons)

Exports of Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% in Latvia

After two years of decline, overseas shipments of powdered sweetened milk and cream of fat weight content over 1.5% increased by 37% to 532 tons in 2022. The total export volume increased at an average annual rate of +7.5% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, exports of powdered sweetened milk and cream of fat weight content over 1.5% surged to $1.4M in 2022. In general, total exports indicated a prominent increase from 2019 to 2022: its value increased at an average annual rate of +11.2% 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 +54.2% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Top Export Markets for Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% from Latvia in 2022:

1. Estonia (314.2 tons)
2. Bulgaria (91.4 tons)
3. Lithuania (67.0 tons)
4. United States (27.8 tons)
5. Finland (19.0 tons)
6. Italy (4.3 tons)

Source: IndexBox Market Intelligence Platform