Report Update Nov 1, 2024

Latvia - Crude Palm Oil - Market Analysis, Forecast, Size, Trends and Insights

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Latvia: Crude Palm Oil Market 2024

Crude Palm Oil Market Size in Latvia

The Latvian crude palm oil market surged to $X in 2022, growing by 1,131% against the previous year. Over the period under review, consumption continues to indicate a resilient increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Crude Palm Oil Production in Latvia

In value terms, crude palm oil production amounted to $X in 2022 estimated in export price. Overall, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 7,552,500% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Crude Palm Oil Exports

Exports from Latvia

In 2019, shipments abroad of crude palm oil decreased by -99.8% to X kg, falling for the second consecutive year after three years of growth. In general, exports continue to indicate a abrupt decline. The growth pace was the most rapid in 2016 with an increase of 342,286%. The exports peaked at X tons in 2017; however, from 2018 to 2019, the exports stood at a somewhat lower figure.

In value terms, crude palm oil exports declined rapidly to $X in 2019. Overall, exports recorded a abrupt decline. The most prominent rate of growth was recorded in 2016 with an increase of 331,105% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2019, the exports remained at a lower figure.

Exports by Country

Estonia (X kg) was the main destination for crude palm oil exports from Latvia, accounting for a approx. 100% share of total exports.

From 2012 to 2019, the average annual rate of growth in terms of volume to Estonia totaled -14.8%.

In value terms, Estonia ($X) emerged as the key foreign market for crude palm oil exports from Latvia.

From 2012 to 2019, the average annual growth rate of value to Estonia amounted to -17.1%.

Export Prices by Country

The average crude palm oil export price stood at $X per ton in 2019, picking up by 30% against the previous year. Over the period under review, the export price, however, recorded a perceptible setback. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2019, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Estonia.

From 2012 to 2019, the rate of growth in terms of prices for Estonia amounted to -2.7% per year.

Crude Palm Oil Imports

Imports into Latvia

In 2022, supplies from abroad of crude palm oil increased by 1,021% to X tons for the first time since 2018, thus ending a three-year declining trend. Overall, imports showed a strong expansion. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, crude palm oil imports surged to $X in 2022. In general, imports showed a buoyant increase. Imports peaked at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Estonia (X tons) constituted the largest supplier of crude palm oil to Latvia, accounting for a 86% share of total imports. Moreover, crude palm oil imports from Estonia exceeded the figures recorded by the second-largest supplier, Lithuania (X tons), eightfold.

From 2012 to 2022, the average annual growth rate of volume from Estonia totaled +88.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Lithuania (-12.0% per year) and Poland (+6.6% per year).

In value terms, Estonia ($X) constituted the largest supplier of crude palm oil to Latvia, comprising 70% of total imports. The second position in the ranking was held by Poland ($X), with a 19% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Estonia totaled +95.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+13.4% per year) and Lithuania (-7.4% per year).

Import Prices by Country

In 2022, the average crude palm oil import price amounted to $X per ton, rising by 9.8% against the previous year. In general, the import price enjoyed perceptible growth. The growth pace was the most rapid in 2017 an increase of 50% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of origin: 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 2022, the most notable rate of growth in terms of prices was attained by Poland (+6.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

This report provides an in-depth analysis of the crude palm oil market in Latvia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 257 - Oil of palm

Country coverage:

Latvia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Latvia
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023