Shrimp Price in Latvia - 2023
Contents:
- Shrimp Price in Latvia (CIF) - 2023
- Shrimp Price in Latvia (FOB) - 2023
- Shrimp Imports in Latvia
- Shrimp Exports in Latvia
Shrimp Price in Latvia (CIF) - 2023
The average shrimp import price stood at $8,771 per ton in September 2023, which is down by -2.2% against the previous month. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in December 2022 when the average import price increased by 14% month-to-month. The import price peaked at $9,851 per ton in May 2023; however, from June 2023 to September 2023, import prices stood at a somewhat lower figure.
Average prices varied somewhat amongst the major supplying countries. In September 2023, the highest price was recorded for prices from Lithuania ($9,404 per ton) and Sweden ($9,012 per ton), while the price for Estonia ($7,243 per ton) and Belgium ($8,440 per ton) were amongst the lowest.
From November 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Denmark (+3.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Shrimp Price in Latvia (FOB) - 2023
In September 2023, the average shrimp export price amounted to $9,368 per ton, dropping by -3% against the previous month. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in April 2023 an increase of 2.4% month-to-month. The export price peaked at $10,211 per ton in May 2023; however, from June 2023 to September 2023, the export prices stood at a somewhat lower figure.
Average prices varied noticeably for the major external markets. In September 2023, the country with the highest price was Estonia ($10,269 per ton), while the average price for exports to Lithuania amounted to $8,950 per ton.
From November 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to Estonia (+0.7%).
Shrimp Imports in Latvia
In 2022, shrimp imports into Latvia rose to 1.5K tons, with an increase of 2.8% on the previous year. The total import volume increased at an average annual rate of +9.2% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 28% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.
In value terms, shrimp imports rose slightly to $14M in 2022. Over the period under review, total imports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +11.9% 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 +40.1% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 32%. Imports peaked in 2022 and are expected to retain growth in the near future.
| Import of Shrimp in Latvia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Lithuania | 1.8 | 2.1 | 2.6 | 3.4 | 23.6% |
| Netherlands | 2.2 | 2.2 | 3.4 | 2.3 | 1.5% |
| India | N/A | 0.3 | 0.9 | 1.9 | 151.7% |
| Denmark | 0.8 | 0.9 | 1.5 | 1.4 | 20.5% |
| Belgium | 0.9 | 1.2 | 1.4 | 1.3 | 13.0% |
| Estonia | 1.3 | 1.0 | 0.8 | 1.1 | -5.4% |
| Vietnam | 0.5 | 0.7 | 1.2 | 1.0 | 26.0% |
| France | 0.2 | 0.2 | 0.2 | 0.5 | 35.7% |
| Sweden | 1.0 | 0.8 | 0.6 | 0.4 | -26.3% |
| Germany | 0.5 | 0.4 | 0.3 | 0.1 | -41.5% |
| United Kingdom | 0.5 | 0.2 | N/A | N/A | -60.0% |
| Others | 0.2 | 0.1 | 0.4 | 0.4 | 26.0% |
| Total | 9.8 | 10.0 | 13.3 | 13.8 | 12.1% |
Top Suppliers of Shrimp to Latvia in 2022:
- Lithuania (392.2 tons)
- Netherlands (228.9 tons)
- India (212.5 tons)
- Denmark (188.8 tons)
- Belgium (142.0 tons)
- Estonia (129.5 tons)
- Vietnam (87.6 tons)
- France (49.3 tons)
- Sweden (49.0 tons)
- Germany (10.0 tons)
Shrimp Exports in Latvia
In 2022, approx. 752 tons of shrimps were exported from Latvia; with an increase of 8.6% compared with the previous year. Over the period under review, exports recorded significant growth. The pace of growth was the most pronounced in 2021 with an increase of 85% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the near future.
In value terms, shrimp exports rose significantly to $6M in 2022. In general, exports enjoyed a significant increase. The pace of growth appeared the most rapid in 2021 when exports increased by 62%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the near future.
| Export of Shrimp in Latvia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Lithuania | 2.3 | 2.5 | 3.9 | 3.8 | 18.2% |
| Estonia | 0.8 | 1.0 | 1.3 | 1.5 | 23.3% |
| Denmark | N/A | N/A | 0.3 | 0.7 | 133.3% |
| Others | N/A | 0.1 | 0.2 | 0.1 | 0.0% |
| Total | 3.1 | 3.6 | 5.7 | 6.0 | 24.6% |
Top Export Markets for Shrimp from Latvia in 2022:
- Lithuania (384.6 tons)
- Denmark (205.5 tons)
- Estonia (154.7 tons)
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