Latvia: Cereal Flour Market 2024

Cereal Flour Market Size in Latvia

The Latvian cereal flour market contracted to $X in 2022, which is down by X% against the previous year. Overall, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Cereal Flour Production in Latvia

In value terms, cereal flour production fell to $X in 2022 estimated in export price. In general, production showed a abrupt setback. The pace of growth appeared the most rapid in 2021 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Cereal Flour Exports

Exports from Latvia

In 2022, shipments abroad of cereal flours increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when exports increased by X% 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, cereal flour exports skyrocketed to $X in 2022. In general, total exports indicated a modest increase 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. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Lithuania (X tons), Thailand (X tons) and Belgium (X tons) were the main destinations of cereal flour exports from Latvia, with a combined X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for cereal flour exported from Latvia were Lithuania ($X), Thailand ($X) and Belgium ($X), together comprising X% of total exports.

Among the main countries of destination, Belgium, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average cereal flour export price stood at $X per ton in 2022, with an increase of X% against the previous year. In general, export price indicated a measured expansion from 2012 to 2022: its price 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, cereal flour export price increased by X% against 2020 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Poland ($X per ton), while the average price for exports to Sweden ($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 Belgium (X%), while the prices for the other major destinations experienced more modest paces of growth.

Cereal Flour Imports

Imports into Latvia

In 2022, supplies from abroad of cereal flours increased by X% to X tons, rising for the fourth consecutive year after two years of decline. Over the period under review, total imports indicated a measured expansion from 2012 to 2022: its volume 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, imports increased by X% against 2018 indices. The pace of growth was the most pronounced in 2015 when imports increased by X% against the previous year. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, cereal flour imports surged to $X in 2022. In general, total imports indicated notable growth 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, imports increased by X% against 2018 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Estonia (X tons), Lithuania (X tons) and Poland (X tons) were the main suppliers of cereal flour imports to Latvia, together accounting for X% of total imports.

From 2012 to 2022, the biggest increases were recorded for Lithuania (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Estonia ($X), Lithuania ($X) and Poland ($X) were the largest cereal flour suppliers to Latvia, together comprising X% of total imports. Ukraine lagged somewhat behind, comprising a further X%.

Ukraine, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average cereal flour import price stood at $X per ton in 2022, with an increase of X% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 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 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Lithuania ($X per ton) and Poland ($X per ton), while the price for Estonia ($X per ton) and Ukraine ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform