Price for Wine; Still, in Containers Holding More than 2 Litres in Latvia - 2023

Contents:

1. Price for Wine; Still, in Containers Holding More than 2 Litres in Latvia (CIF) - 2023
2. Price for Wine; Still, in Containers Holding More than 2 Litres in Latvia (FOB) - 2023
3. Imports of Wine; Still, in Containers Holding More than 2 Litres in Latvia
4. Exports of Wine; Still, in Containers Holding More than 2 Litres in Latvia

Price for Wine; Still, in Containers Holding More than 2 Litres in Latvia (CIF) - 2023

In November 2023, the average import price for wine; still, in containers holding more than 2 litreses amounted to $1.9 per litre, which is down by -3.5% against the previous month. Over the period under review, import price indicated a temperate expansion from November 2022 to November 2023: its price increased at an average monthly rate of +4.1% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on November 2023 figures, import price for wine; still, in containers holding more than 2 litreses decreased by -4.5% against September 2023 indices. The growth pace was the most rapid in May 2023 an increase of 54% month-to-month. As a result, import price attained the peak level of $2.0 per litre. From June 2023 to November 2023, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In November 2023, the country with the highest price was Italy ($2.5 per litre), while the price for Finland ($998 per thousand litres) was amongst the lowest.

From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by Spain (+6.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Wine; Still, in Containers Holding More than 2 Litres in Latvia (FOB) - 2023

In November 2023, the average export price for wine; still, in containers holding more than 2 litreses amounted to $2.5 per litre, surging by 14% against the previous month. Over the last twelve-month period, it increased at an average monthly rate of +3.5%. The most prominent rate of growth was recorded in December 2022 an increase of 39% m-o-m. The export price peaked in November 2023.

There were significant differences in the average prices for the major external markets. In November 2023, the country with the highest price was Georgia ($3.3 per litre), while the average price for exports to Estonia ($2.2 per litre) was amongst the lowest.

From November 2022 to November 2023, 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 Wine; Still, in Containers Holding More than 2 Litres in Latvia

In 2022, purchases abroad of wine; still, in containers holding more than 2 litreses decreased by -1.2% to 4.7M litres for the first time since 2018, thus ending a three-year rising trend. Overall, imports, however, continue to indicate modest growth. The pace of growth appeared the most rapid in 2021 with an increase of 2.4% against the previous year. As a result, imports reached the peak of 4.8M litres, and then fell in the following year.

In value terms, imports of wine; still, in containers holding more than 2 litreses contracted slightly to $6.2M in 2022. The total import value increased at an average annual rate of +1.4% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by 7.1% against the previous year. As a result, imports reached the peak of $6.4M, and then reduced in the following year.

Top Suppliers of Wine; Still, in Containers Holding More than 2 Litres to Latvia in 2022:

1. Spain (2831.1K litres)
2. Italy (525.0K litres)
3. Germany (317.1K litres)
4. France (220.8K litres)
5. Moldova (194.8K litres)
6. Lithuania (161.1K litres)
7. Estonia (121.7K litres)
8. Portugal (106.0K litres)
9. Chile (84.3K litres)

Exports of Wine; Still, in Containers Holding More than 2 Litres in Latvia

In 2022, approx. 1.2M litres of wine; still, in containers holding more than 2 litreses were exported from Latvia; with an increase of 1.5% compared with the previous year's figure. Overall, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 182%. As a result, the exports attained the peak of 1.2M litres; afterwards, it flattened through to 2022.

In value terms, exports of wine; still, in containers holding more than 2 litreses contracted to $1.9M in 2022. In general, exports showed a significant expansion. The pace of growth appeared the most rapid in 2020 with an increase of 137% against the previous year. Over the period under review, the exports of attained the maximum at $2.1M in 2021, and then declined in the following year.

Top Export Markets for Wine; Still, in Containers Holding More than 2 Litres from Latvia in 2022:

1. Russia (493.2K litres)
2. Kazakhstan (371.4K litres)
3. Estonia (259.0K litres)
4. Lithuania (58.6K litres)

Source: IndexBox Market Intelligence Platform