Latvia: Whole Fresh Milk Market 2024

Whole Fresh Milk Market Size in Latvia

After three years of growth, the Latvian whole fresh milk market decreased by X% to $X in 2023. The market value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. Whole fresh milk consumption peaked at $X in 2022, and then shrank modestly in the following year.

Whole Fresh Milk Production in Latvia

In value terms, whole fresh milk production declined to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 when the production volume increased by X%. Whole fresh milk production peaked at $X in 2022, and then declined in the following year.

In 2023, the average yield of whole fresh milk in Latvia shrank to X tons per head, flattening at the previous year's figure. The yield figure increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 when the yield increased by X% against the previous year. Over the period under review, the average whole fresh milk yield hit record highs at X tons per head in 2022, and then shrank slightly in the following year.

In 2023, number of number of animals for whole fresh milk production in Latvia reached X heads, remaining stable against 2022. Over the period under review, the number of producing animals, however, showed a noticeable slump. Over the period under review, this number attained the peak level at X heads in 2015; however, from 2016 to 2023, producing animals remained at a lower figure.

Whole Fresh Milk Exports

Exports from Latvia

In 2023, shipments abroad of whole fresh milk decreased by X% to X tons for the first time since 2019, thus ending a three-year rising trend. The total export volume increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when exports increased by X%. The exports peaked at X tons in 2022, and then fell rapidly in the following year.

In value terms, whole fresh milk exports shrank notably to $X in 2023. In general, exports, however, saw a moderate increase. The pace of growth was the most pronounced in 2017 when exports increased by X%. The exports peaked at $X in 2022, and then dropped sharply in the following year.

Exports by Country

Lithuania (X tons) was the main destination for whole fresh milk exports from Latvia, with a X% share of total exports. Moreover, whole fresh milk exports to Lithuania exceeded the volume sent to the second major destination, Estonia (X tons), more than tenfold.

From 2012 to 2023, the average annual growth rate of volume to Lithuania totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (X% per year) and Poland (X% per year).

In value terms, Lithuania ($X) remains the key foreign market for whole fresh milk exports from Latvia, comprising X% of total exports. The second position in the ranking was taken by Estonia ($X), with a X% share of total exports.

From 2012 to 2023, the average annual growth rate of value to Lithuania totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (X% per year) and Poland (X% per year).

Export Prices by Country

The average whole fresh milk export price stood at $X per ton in 2023, shrinking by X% against the previous year. Over the period under review, export price indicated a slight increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, whole fresh milk export price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2017 when the average export price increased by X%. Over the period under review, the average export prices reached the maximum at $X per ton in 2022, and then reduced dramatically in the following year.

Average prices varied noticeably for the major export markets. In 2023, amid the top suppliers, the country with the highest price was Estonia ($X per ton), while the average price for exports to Lithuania ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Lithuania (X%), while the prices for the other major destinations experienced a decline.

Whole Fresh Milk Imports

Imports into Latvia

In 2023, after eight years of growth, there was decline in supplies from abroad of whole fresh milk, when their volume decreased by X% to X tons. In general, imports, however, continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2022, and then declined in the following year.

In value terms, whole fresh milk imports fell modestly to $X in 2023. Overall, imports, however, continue to indicate a resilient expansion. The pace of growth appeared the most rapid in 2017 when imports increased by X%. Imports peaked at $X in 2022, and then declined modestly in the following year.

Imports by Country

In 2023, Estonia (X tons) constituted the largest supplier of whole fresh milk to Latvia, with a X% share of total imports. Moreover, whole fresh milk imports from Estonia exceeded the figures recorded by the second-largest supplier, Lithuania (X tons), fourfold.

From 2012 to 2023, the average annual growth rate of volume from Estonia amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Lithuania (X% per year) and Poland (X% per year).

In value terms, Estonia ($X) constituted the largest supplier of whole fresh milk to Latvia, comprising X% of total imports. The second position in the ranking was taken by Poland ($X), with a X% share of total imports.

From 2012 to 2023, the average annual growth rate of value from Estonia stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (X% per year) and Lithuania (X% per year).

Import Prices by Country

In 2023, the average whole fresh milk import price amounted to $X per ton, flattening at the previous year. Overall, import price indicated a notable expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, whole fresh milk import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. The import price peaked at $X per ton in 2022, and then contracted slightly in the following year.

Average prices varied somewhat amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Poland ($X per ton), while the price for Estonia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Estonia (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform