Price for Raw Cane Sugar (Without Flavoring or Coloring Matter) in Latvia - 2023
Contents:
- Price for Raw Cane Sugar (Without Flavoring or Coloring Matter) in Latvia (CIF) - 2022
- Price for Raw Cane Sugar (Without Flavoring or Coloring Matter) in Latvia (FOB) - 2022
- Imports of Raw Cane Sugar (Without Flavoring or Coloring Matter) in Latvia
- Exports of Raw Cane Sugar (Without Flavoring or Coloring Matter) in Latvia
Price for Raw Cane Sugar (Without Flavoring or Coloring Matter) in Latvia (CIF) - 2022
In 2022, the average import price for raw cane sugar (without flavoring or coloring matter) amounted to $1,256 per ton, dropping by -58.6% against the previous year. Overall, the import price saw a perceptible reduction. The most prominent rate of growth was recorded in 2013 when the average import price increased by 109%. Over the period under review, average import prices reached the maximum at $3,822 per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.
As there is only one major supplying country, the average price level is determined by prices for Lithuania.
From 2012 to 2022, the rate of growth in terms of prices for the UK amounted to +2.6% per year.
Price for Raw Cane Sugar (Without Flavoring or Coloring Matter) in Latvia (FOB) - 2022
In 2022, the average export price for raw cane sugar (without flavoring or coloring matter) amounted to $3,942 per ton, with an increase of 63% against the previous year. Over the period under review, the export price enjoyed a strong increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.
As there is only one major export destination, the average price level is determined by prices for Lithuania.
From 2015 to 2022, the rate of growth in terms of prices for Lithuania amounted to +60.5% per year.
Imports of Raw Cane Sugar (Without Flavoring or Coloring Matter) in Latvia
In 2022, the amount of raw cane sugar (without flavoring or coloring matter) imported into Latvia soared to 57 tons, jumping by 1,834% against the previous year's figure. Over the period under review, imports posted perceptible growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, imports of raw cane sugar (without flavoring or coloring matter) skyrocketed to $71K in 2022. In general, imports, however, continue to indicate a mild curtailment.
| Import of Raw Cane Sugar (Without Flavoring or Coloring Matter) in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Lithuania | 74.8 | N/A | N/A | 69.1 | -2.6% |
| United Kingdom | N/A | N/A | 8.9 | N/A | 0% |
| Others | N/A | N/A | N/A | 2.1 | 0% |
| Total | 74.8 | N/A | 8.9 | 71.2 | -1.6% |
Top Suppliers of Raw Cane Sugar (Without Flavoring or Coloring Matter) to Latvia in 2022:
- Lithuania (56.0 tons)
Exports of Raw Cane Sugar (Without Flavoring or Coloring Matter) in Latvia
In 2022, the amount of raw cane sugar (without flavoring or coloring matter) exported from Latvia dropped markedly to 154 kg, declining by -71.1% compared with the previous year. In general, exports saw a dramatic curtailment.
In value terms, exports of raw cane sugar (without flavoring or coloring matter) contracted significantly to $607 in 2022. Over the period under review, exports showed a sharp contraction.
| Export of Raw Cane Sugar (Without Flavoring or Coloring Matter) in Latvia (USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2021 | 2022 | CAGR, 2021-2022 | ||
| Lithuania | 1,223 | 607 | -50.4% | ||
| Netherlands | 65.0 | N/A | 0% | ||
| Others | N/A | N/A | 0% | ||
| Total | 1,288 | 607 | -52.9% | ||
Top Export Markets for Raw Cane Sugar (Without Flavoring or Coloring Matter) from Latvia in 2022:
- Lithuania (154.0 kg)
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This year, world sugar production is expected to rise by 3% to 193M tons. The growth will be encouraged by favorable weather conditions in most of the largest producing countries, as well as the providing exemptions on the neonicotinoid usage against plant diseases and blights in France, Germany and the UK. The drop in sugar production and shipments from Brazil will be offset by large volumes coming from Thailand, which will boost global exports by +2.6% y-o-y. The increased supply in the world market is to keep sugar prices relatively stable over the next two years.
