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Latvia - Crude Soybean Oil - Market Analysis, Forecast, Size, Trends and Insights
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View PricingLatvia: Crude Soybean Oil Market 2024
Crude Soybean Oil Market Size in Latvia
The Latvian crude soybean oil market totaled $X in 2023, increasing by X% against the previous year. In general, consumption showed a pronounced downturn. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2023, consumption stood at a somewhat lower figure.
Crude Soybean Oil Production in Latvia
In value terms, crude soybean oil production expanded sharply to $X in 2023 estimated in export price. Overall, production recorded a pronounced shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2023, production stood at a somewhat lower figure.
Crude Soybean Oil Exports
Exports from Latvia
In 2023, exports of crude soybean oil from Latvia soared to X tons, picking up by X% compared with 2022. In general, exports posted significant growth. The growth pace was the most rapid in 2022 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure in 2023 and are likely to see gradual growth in the near future.
In value terms, crude soybean oil exports shrank to $X in 2023. Over the period under review, exports showed a significant increase. The growth pace was the most rapid in 2022 when exports increased by X%. As a result, the exports reached the peak of $X, and then fell in the following year.
Exports by Country
France (X tons) was the main destination for crude soybean oil exports from Latvia, with a approx. X% share of total exports.
From 2013 to 2023, the average annual growth rate of volume to France amounted to X%.
In value terms, France ($X) also remains the key foreign market for crude soybean oil exports from Latvia.
From 2013 to 2023, the average annual rate of growth in terms of value to France totaled X%.
Export Prices by Country
In 2023, the average crude soybean oil export price amounted to $X per ton, reducing by X% against the previous year. Over the period under review, the export price continues to indicate a deep reduction. The growth pace was the most rapid in 2014 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2023, the average export prices remained at a lower figure.
As there is only one major export destination, the average price level is determined by prices for France.
From 2013 to 2023, the rate of growth in terms of prices for Estonia amounted to X% per year.
Crude Soybean Oil Imports
Imports into Latvia
In 2023, overseas purchases of crude soybean oil were finally on the rise to reach X tons after two years of decline. Overall, imports recorded a prominent increase. The pace of growth was the most pronounced in 2015 when imports increased by X%. Imports peaked at X tons in 2020; however, from 2021 to 2023, imports remained at a lower figure.
In value terms, crude soybean oil imports skyrocketed to $X in 2023. In general, imports saw resilient growth. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Imports peaked at $X in 2021; however, from 2022 to 2023, imports remained at a lower figure.
Imports by Country
In 2023, Ukraine (X tons) constituted the largest supplier of crude soybean oil to Latvia, accounting for a X% share of total imports. Moreover, crude soybean oil imports from Ukraine exceeded the figures recorded by the second-largest supplier, Lithuania (X tons), more than tenfold.
From 2012 to 2023, the average annual growth rate of volume from Ukraine stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Lithuania (X% per year) and Estonia (X% per year).
In value terms, Ukraine ($X) constituted the largest supplier of crude soybean oil to Latvia, comprising X% of total imports. The second position in the ranking was held by Lithuania ($X), with a X% share of total imports.
From 2012 to 2023, the average annual rate of growth in terms of value from Ukraine stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Lithuania (X% per year) and Estonia (X% per year).
Import Prices by Country
The average crude soybean oil import price stood at $X per ton in 2023, which is down by X% against the previous year. In general, the import price recorded a mild downturn. The pace of growth appeared the most rapid in 2017 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2022, and then contracted sharply in the following year.
Average prices varied noticeably amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Lithuania ($X per ton), while the price for Estonia ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Russia (X%), while the prices for the other major suppliers experienced a decline.
Source: IndexBox Platform
This report provides an in-depth analysis of the crude soybean oil market in Latvia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 237 - Oil of Soybeans
Country coverage:
- Latvia
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Latvia
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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