Latvia: Market for Evaporated And Condensed Milk 2024

Market Size for Evaporated And Condensed Milk in Latvia

The Latvian evaporated and condensed milk market contracted markedly to $X in 2022, reducing by -17.2% against the previous year. In general, consumption saw a slight curtailment. Evaporated and condensed milk consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Production of Evaporated And Condensed Milk in Latvia

In value terms, evaporated and condensed milk production contracted to $X in 2022 estimated in export price. Overall, production showed a slight shrinkage. The growth pace was the most rapid in 2013 when the production volume increased by 20%. Over the period under review, production attained the maximum level at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Exports of Evaporated And Condensed Milk

Exports from Latvia

In 2022, the amount of evaporated and condensed milk exported from Latvia soared to X tons, jumping by 40% on the previous year. Overall, exports enjoyed a strong expansion. The growth pace was the most rapid in 2014 when exports increased by 465%. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, evaporated and condensed milk exports surged to $X in 2022. In general, exports saw a moderate expansion. The growth pace was the most rapid in 2014 with an increase of 428% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Lithuania (X tons), Estonia (X tons) and the Czech Republic (X tons) were the main destinations of evaporated and condensed milk exports from Latvia, together accounting for 98% of total exports.

From 2012 to 2022, the biggest increases were recorded for the Czech Republic (with a CAGR of +305.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for evaporated and condensed milk exported from Latvia were Lithuania ($X), Estonia ($X) and the Czech Republic ($X), together accounting for 97% of total exports.

The Czech Republic, with a CAGR of +253.4%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average evaporated and condensed milk export price stood at $X per ton in 2022, approximately mirroring the previous year. Over the period under review, the export price saw a pronounced curtailment. The pace of growth was the most pronounced in 2013 when the average export price increased by 20%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a lower figure.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Poland ($X per ton) and the Czech Republic ($X per ton), while the average price for exports to Lithuania ($X per ton) and Estonia ($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 Lithuania (-0.1%), while the prices for the other major destinations experienced a decline.

Imports of Evaporated And Condensed Milk

Imports into Latvia

In 2022, the amount of evaporated and condensed milk imported into Latvia fell remarkably to X tons, waning by -16.6% on 2021. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when imports increased by 31% against the previous year. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, evaporated and condensed milk imports dropped to $X in 2022. The total import value increased at an average annual rate of +1.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 23%. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

Lithuania (X tons), Germany (X tons) and Estonia (X tons) were the main suppliers of evaporated and condensed milk imports to Latvia, together comprising 89% of total imports. The Netherlands and Poland lagged somewhat behind, together accounting for a further 11%.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +53.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Lithuania ($X) constituted the largest supplier of evaporated and condensed milk to Latvia, comprising 54% of total imports. The second position in the ranking was held by Germany ($X), with a 22% share of total imports. It was followed by Estonia, with a 15% share.

From 2012 to 2022, the average annual growth rate of value from Lithuania was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-0.9% per year) and Estonia (+1.0% per year).

Import Prices by Country

In 2022, the average evaporated and condensed milk import price amounted to $X per ton, growing by 15% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 19% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2013; afterwards, it flattened through to 2022.

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 Poland ($X per ton), while the price for the Netherlands ($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 (+6.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform