Latvia: Cereal Market 2025

Cereal Market Size in Latvia

In 2022, the Latvian cereal market increased by X% to $X, rising for the second consecutive year after two years of decline. Over the period under review, the total consumption 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, consumption increased by X% against 2020 indices. Cereal consumption peaked in 2022 and is expected to retain growth in the immediate term.

Cereal Production in Latvia

In value terms, cereal production expanded modestly to $X in 2022 estimated in export price. In general, the total production indicated a slight 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. Based on 2022 figures, production decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2019 when the production volume increased by X% against the previous year. Cereal production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

In 2022, the average yield of cereals in Latvia rose markedly to X tons per ha, growing by X% on 2021 figures. Over the period under review, the yield saw a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the yield increased by X%. The cereal yield peaked at X tons per ha in 2015; however, from 2016 to 2022, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of cereals were harvested in Latvia; therefore, remained relatively stable against the previous year. The harvested area increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 when the harvested area increased by X% against the previous year. Over the period under review, the harvested area dedicated to cereal production reached the peak figure at X ha in 2021, and then declined slightly in the following year.

Cereal Exports

Exports from Latvia

In 2022, cereal exports from Latvia rose rapidly to X tons, picking up by X% against 2021. In general, exports saw buoyant growth. The pace of growth appeared the most rapid in 2019 when exports increased by X% against the previous year. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, cereal exports skyrocketed to $X in 2022. Overall, exports enjoyed a resilient increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Nigeria (X tons), Spain (X tons) and Saudi Arabia (X tons) were the main destinations of cereal exports from Latvia, with a combined X% share of total exports. The Netherlands, Mozambique, Angola, Lithuania, South Africa, Morocco, Tanzania, Israel, Norway and Ghana lagged somewhat behind, together accounting for a further X%.

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

In value terms, Nigeria ($X), Spain ($X) and Saudi Arabia ($X) constituted the largest markets for cereal exported from Latvia worldwide, with a combined X% share of total exports. The Netherlands, Mozambique, Angola, Lithuania, South Africa, Morocco, Tanzania, Israel, Norway and Ghana lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, Angola, with a CAGR of X%, saw the highest growth rate of 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 export price stood at $X per ton in 2022, increasing by X% against the previous year. Overall, export price indicated a mild increase 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 export price increased by X% against 2018 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Saudi Arabia ($X per ton) and Morocco ($X per ton), while the average price for exports to Ghana ($X per ton) and Norway ($X per ton) were amongst the lowest.

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

Cereal Imports

Imports into Latvia

In 2022, cereal imports into Latvia expanded rapidly to X tons, surging by X% on the year before. In general, imports saw a resilient expansion. The pace of growth appeared the most rapid in 2016 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, cereal imports soared to $X in 2022. Over the period under review, imports enjoyed buoyant growth. The pace of growth was the most pronounced in 2016 when imports increased by X%. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Lithuania (X tons) constituted the largest supplier of cereal to Latvia, accounting for a X% share of total imports. Moreover, cereal imports from Lithuania exceeded the figures recorded by the second-largest supplier, Russia (X tons), twofold. Estonia (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate 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 Estonia (X% per year).

In value terms, the largest cereal suppliers to Latvia were Lithuania ($X), Russia ($X) and Estonia ($X), with a combined X% share of total imports. The Netherlands and Ukraine lagged somewhat behind, together comprising a further X%.

The Netherlands, 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

In 2022, the average cereal import price amounted to $X per ton, rising by X% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

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

Source: IndexBox Platform