Estonia: Apricot Market 2024

Apricot Market Size in Estonia

In 2022, the Estonian apricot market increased by 11% to $X, rising for the second consecutive year after two years of decline. Over the period under review, the total consumption indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +31.1% against 2020 indices. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Apricot Exports

Exports from Estonia

In 2022, approx. X kg of apricots were exported from Estonia; waning by -65.9% on the year before. Over the period under review, exports saw a abrupt curtailment. The most prominent rate of growth was recorded in 2017 with an increase of 65,773% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, apricot exports dropped significantly to $X in 2022. Overall, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 24,620%. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Finland (X kg) was the main destination for apricot exports from Estonia, with a 41% share of total exports. Moreover, apricot exports to Finland exceeded the volume sent to the second major destination, Latvia (X kg), twofold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Finland amounted to +9.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Latvia (-19.3% per year) and Norway (-7.4% per year).

In value terms, Norway ($X), Finland ($X) and Latvia ($X) were the largest markets for apricot exported from Estonia worldwide, together comprising 54% of total exports.

In terms of the main countries of destination, Finland, with a CAGR of +9.7%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average apricot export price amounted to $X per ton, with an increase of 42% against the previous year. In general, the export price saw a prominent increase. The pace of growth was the most pronounced in 2016 an increase of 117%. Over the period under review, the average export prices hit record highs in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Norway ($X per ton), while the average price for exports to Finland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+22.2%), while the prices for the other major destinations experienced more modest paces of growth.

Apricot Imports

Imports into Estonia

In 2022, purchases abroad of apricots was finally on the rise to reach X tons after two years of decline. Overall, total imports indicated notable growth from 2012 to 2022: its volume increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when imports increased by 73% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, apricot imports rose remarkably to $X in 2022. In general, total imports indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +32.5% against 2020 indices. The pace of growth was the most pronounced in 2017 with an increase of 32%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Italy (X tons) constituted the largest supplier of apricot to Estonia, accounting for a 53% share of total imports. Moreover, apricot imports from Italy exceeded the figures recorded by the second-largest supplier, Spain (X tons), twofold. The third position in this ranking was held by Greece (X tons), with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Italy amounted to +26.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+9.7% per year) and Greece (+70.4% per year).

In value terms, Italy ($X) constituted the largest supplier of apricots to Estonia, comprising 49% of total imports. The second position in the ranking was held by Spain ($X), with a 24% share of total imports. It was followed by Greece, with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Italy stood at +28.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+13.8% per year) and Greece (+66.3% per year).

Import Prices by Country

In 2022, the average apricot import price amounted to $X per ton, falling by -22.4% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average import price increased by 36% against the previous year. As a result, import price attained the peak level of $X per ton, and then contracted sharply in the following year.

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 South Africa ($X per ton), while the price for North Macedonia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+6.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform