Price for Protein; Concentrates and Textured Protein Substances in Latvia - 2024

Contents:

1. Price for Protein; Concentrates and Textured Protein Substances in Latvia (CIF) - 2024
2. Price for Protein; Concentrates and Textured Protein Substances in Latvia (FOB) - 2022
3. Imports of Protein; Concentrates and Textured Protein Substances in Latvia
4. Exports of Protein; Concentrates and Textured Protein Substances in Latvia

Price for Protein; Concentrates and Textured Protein Substances in Latvia (CIF) - 2024

In March 2024, the average import price for protein; concentrates and textured protein substanceses amounted to $5,332 per ton, which is down by -35.9% against the previous month. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in June 2023 when the average import price increased by 109% against the previous month. Over the period under review, average import prices attained the peak figure at $8,370 per ton in January 2024; however, from February 2024 to March 2024, import prices stood at a somewhat lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was the Netherlands ($44,320 per ton), while the price for Serbia ($1,382 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 Estonia (+12.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Protein; Concentrates and Textured Protein Substances in Latvia (FOB) - 2022

The average export price for protein; concentrates and textured protein substanceses stood at $3,257 per ton in 2022, picking up by 6.5% against the previous year. Overall, export price indicated buoyant growth from 2012 to 2022: its price increased at an average annual rate of +7.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for protein; concentrates and textured protein substanceses increased by +42.8% against 2020 indices. The pace of growth was the most pronounced in 2014 an increase of 43%. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Bulgaria ($19,545 per ton), while the average price for exports to Norway ($2,150 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 Bulgaria (+72.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Protein; Concentrates and Textured Protein Substances in Latvia

In 2022, after three years of growth, there was significant decline in purchases abroad of protein; concentrates and textured protein substanceses, when their volume decreased by -35.9% to 630 tons. Overall, imports saw a deep slump. The most prominent rate of growth was recorded in 2021 when imports increased by 16% against the previous year. As a result, imports attained the peak of 983 tons, and then contracted significantly in the following year.

In value terms, imports of protein; concentrates and textured protein substanceses shrank dramatically to $2.3M in 2022. Over the period under review, imports recorded a slight contraction. The growth pace was the most rapid in 2021 when imports increased by 24%. As a result, imports attained the peak of $2.7M, and then shrank remarkably in the following year.

Top Suppliers of Protein; Concentrates and Textured Protein Substances to Latvia in 2022:

1. Serbia (277.3 tons)
2. Lithuania (98.7 tons)
3. Russia (67.8 tons)
4. Argentina (49.8 tons)
5. Germany (40.0 tons)
6. Slovakia (17.0 tons)
7. Sweden (14.7 tons)
8. Poland (12.4 tons)
9. Ireland (2.8 tons)
10. Czech Republic (2.4 tons)

Exports of Protein; Concentrates and Textured Protein Substances in Latvia

Exports of protein; concentrates and textured protein substanceses from Latvia skyrocketed to 329 tons in 2022, with an increase of 16% on 2021. The total export volume increased at an average annual rate of +5.3% over the period from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The growth pace was the most rapid in 2020 with an increase of 21% against the previous year. As a result, the exports reached the peak of 341 tons. From 2021 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of protein; concentrates and textured protein substanceses skyrocketed to $1.1M in 2022. Overall, total exports indicated a prominent increase from 2019 to 2022: its value increased at an average annual rate of +17.6% 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 +62.7% against 2019 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Top Export Markets for Protein; Concentrates and Textured Protein Substances from Latvia in 2022:

1. Estonia (125.1 tons)
2. Lithuania (79.5 tons)
3. Germany (23.4 tons)
4. China (23.2 tons)
5. Austria (20.9 tons)
6. Netherlands (13.1 tons)
7. Finland (12.5 tons)
8. United States (6.2 tons)
9. Denmark (5.7 tons)

Source: IndexBox Market Intelligence Platform