Latvia: Market for Animal Or Vegetable Fertilisers 2024

Market Size for Animal Or Vegetable Fertilisers in Latvia

The Latvian animal or vegetable fertilisers market shrank to $X in 2022, reducing by X% against the previous year. Over the period under review, consumption, however, showed a prominent expansion. Over the period under review, the market reached the maximum level at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Production of Animal Or Vegetable Fertilisers in Latvia

In value terms, animal or vegetable fertilisers production reduced to $X in 2022 estimated in export price. In general, the total production indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2013 with an increase of X%. Animal or vegetable fertilisers production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Exports of Animal Or Vegetable Fertilisers

Exports from Latvia

In 2022, overseas shipments of animal or vegetable fertilisers increased by X% to X tons, rising for the second year in a row after two years of decline. In general, exports recorded a resilient expansion. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in the immediate term.

In value terms, animal or vegetable fertilisers exports soared to $X in 2022. Over the period under review, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The exports peaked in 2022 and are likely to see gradual growth in years to come.

Exports by Country

Singapore (X tons), Lithuania (X tons) and Estonia (X tons) were the main destinations of animal or vegetable fertilisers exports from Latvia, together accounting for X% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Estonia (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) remains the key foreign market for animal or vegetable fertilisers exports from Latvia, comprising X% of total exports. The second position in the ranking was taken by Lithuania ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Singapore totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lithuania (X% per year) and Estonia (X% per year).

Export Prices by Country

In 2022, the average animal or vegetable fertilisers export price amounted to $X per ton, picking up by X% against the previous year. Over the period under review, the export price enjoyed a prominent expansion. The pace of growth appeared the most rapid in 2019 an increase of X%. The export price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Estonia ($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 Singapore (X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Animal Or Vegetable Fertilisers

Imports into Latvia

In 2022, purchases abroad of animal or vegetable fertilisers increased by X% to X tons, rising for the fifth year in a row after three years of decline. Overall, imports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in years to come.

In value terms, animal or vegetable fertilisers imports soared to $X in 2022. In general, imports continue to indicate a significant expansion. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Lithuania (X tons) constituted the largest supplier of animal or vegetable fertilisers to Latvia, accounting for a X% share of total imports. Moreover, animal or vegetable fertilisers imports from Lithuania exceeded the figures recorded by the second-largest supplier, Russia (X tons), more than tenfold. The Netherlands (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Lithuania stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (X% per year) and the Netherlands (X% per year).

In value terms, Lithuania ($X) constituted the largest supplier of animal or vegetable fertilisers to Latvia, comprising X% of total imports. The second position in the ranking was held by Germany ($X), with a X% share of total imports. It was followed by the Netherlands, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Lithuania stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and the Netherlands (X% per year).

Import Prices by Country

In 2022, the average animal or vegetable fertilisers import price amounted to $X per ton, surging by X% against the previous year. Overall, the import price, however, recorded a deep downturn. The growth pace was the most rapid in 2019 when the average import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2020 to 2022, the average import prices remained at a somewhat lower figure.

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 Germany ($X per ton), while the price for Belarus ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform