Price for Vegetables; Potatoes (Other than Seed), Fresh or Chilled in Latvia - 2023
Contents:
- Price for Vegetables; Potatoes (Other than Seed), Fresh or Chilled in Latvia (CIF) - 2022
- Price for Vegetables; Potatoes (Other than Seed), Fresh or Chilled in Latvia (FOB) - 2023
- Imports of Vegetables; Potatoes (Other than Seed), Fresh or Chilled in Latvia
- Exports of Vegetables; Potatoes (Other than Seed), Fresh or Chilled in Latvia
Price for Vegetables; Potatoes (Other than Seed), Fresh or Chilled in Latvia (CIF) - 2022
The average import price for vegetables; potatoes (other than seed), fresh or chilleds stood at $365 per ton in 2022, with an increase of 27% against the previous year. Over the last decade, it increased at an average annual rate of +2.7%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($643 per ton), while the price for Poland ($244 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lithuania (+10.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Vegetables; Potatoes (Other than Seed), Fresh or Chilled in Latvia (FOB) - 2023
The average export price for vegetables; potatoes (other than seed), fresh or chilleds stood at $395 per ton in October 2023, surging by 2.9% against the previous month. Overall, export price indicated mild growth from October 2022 to October 2023: its price increased at an average monthly rate of +1.8% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on October 2023 figures, export price for vegetables; potatoes (other than seed), fresh or chilleds decreased by -32.6% against July 2023 indices. The pace of growth appeared the most rapid in June 2023 when the average export price increased by 27% against the previous month. The export price peaked at $586 per ton in July 2023; however, from August 2023 to October 2023, the export prices remained at a lower figure.
There were significant differences in the average prices for the major overseas markets. In October 2023, the country with the highest price was Estonia ($652 per ton), while the average price for exports to Ukraine ($204 per ton) was amongst the lowest.
From October 2022 to October 2023, the most notable rate of growth in terms of prices was recorded for supplies to Estonia (+4.6%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Vegetables; Potatoes (Other than Seed), Fresh or Chilled in Latvia
Imports of vegetables; potatoes (other than seed), fresh or chilleds into Latvia soared to 42K tons in 2022, increasing by 15% against the year before. Over the period under review, total imports indicated a strong increase from 2019 to 2022: its volume increased at an average annual rate of +15.7% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +87.9% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 63%. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in the immediate term.
In value terms, imports of vegetables; potatoes (other than seed), fresh or chilleds skyrocketed to $15M in 2022. Overall, imports continue to indicate resilient growth. The most prominent rate of growth was recorded in 2021 when imports increased by 60% against the previous year. Over the period under review, imports of attained the maximum in 2022 and are expected to retain growth in the immediate term.
| Import of Vegetables; Potatoes (Other than Seed), Fresh or Chilled in Latvia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Estonia | 1.9 | 1.4 | 2.1 | 3.0 | 16.4% |
| Lithuania | 2.3 | 1.7 | 1.8 | 2.4 | 1.4% |
| Poland | 0.7 | 0.6 | 1.5 | 2.3 | 48.7% |
| Finland | 0.8 | 0.2 | 1.0 | 1.7 | 28.6% |
| Sweden | 1.9 | 1.3 | 1.4 | 1.7 | -3.6% |
| Germany | 0.2 | 0.2 | 0.9 | 0.8 | 58.7% |
| France | 0.2 | 0.1 | 0.2 | 0.7 | 51.8% |
| Italy | 0.6 | 0.3 | 0.4 | 0.3 | -20.6% |
| United Kingdom | N/A | N/A | N/A | 0.3 | 0% |
| Others | 0.9 | 0.7 | 1.1 | 1.9 | 28.3% |
| Total | 9.3 | 6.5 | 10.4 | 15.2 | 17.8% |
Top Suppliers of Vegetables; Potatoes (Other than Seed), Fresh or Chilled to Latvia in 2022:
- Poland (9.4K tons)
- Estonia (8.6K tons)
- Lithuania (6.5K tons)
- Finland (5.8K tons)
- Sweden (3.2K tons)
- Germany (1.6K tons)
- France (1.1K tons)
- United Kingdom (0.8K tons)
- Italy (0.6K tons)
Exports of Vegetables; Potatoes (Other than Seed), Fresh or Chilled in Latvia
In 2022, after three years of growth, there was significant decline in shipments abroad of vegetables; potatoes (other than seed), fresh or chilleds, when their volume decreased by -33.9% to 15K tons. Over the period under review, exports recorded a mild downturn. The most prominent rate of growth was recorded in 2021 when exports increased by 38%. As a result, the exports reached the peak of 22K tons, and then declined significantly in the following year.
In value terms, exports of vegetables; potatoes (other than seed), fresh or chilleds soared to $5.5M in 2022. Overall, total exports indicated a buoyant increase from 2019 to 2022: its value increased at an average annual rate of +5.0% 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 +56.7% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 31% against the previous year. Over the period under review, the exports of attained the peak figure in 2022 and are likely to continue growth in the near future.
| Export of Vegetables; Potatoes (Other than Seed), Fresh or Chilled in Latvia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Estonia | 1.3 | 0.9 | 1.1 | 2.7 | 27.6% |
| Lithuania | 1.5 | 0.8 | 1.3 | 2.6 | 20.1% |
| Poland | 1.7 | 1.1 | 0.5 | 0.1 | -61.1% |
| Czech Republic | 0.2 | 0.1 | N/A | N/A | -50.0% |
| Ukraine | N/A | 0.5 | 1.7 | N/A | 240.0% |
| Others | N/A | 0.1 | N/A | 0.1 | 0.0% |
| Total | 4.8 | 3.5 | 4.6 | 5.5 | 4.6% |
Top Export Markets for Vegetables; Potatoes (Other than Seed), Fresh or Chilled from Latvia in 2022:
- Lithuania (7.6K tons)
- Estonia (6.5K tons)
- Poland (0.5K tons)
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