Latvia: Fertilizer Market 2024

Fertilizer Market Size in Latvia

The Latvian fertilizer market was estimated at $X in 2022, picking up by X% against the previous year. Over the period under review, the total consumption indicated a measured 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, consumption increased by X% against 2017 indices. Fertilizer consumption peaked in 2022 and is likely to continue growth in the near future.

Fertilizer Production in Latvia

In value terms, fertilizer production dropped to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a abrupt descent. The pace of growth was the most pronounced in 2016 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 failed to regain momentum.

Fertilizer Exports

Exports from Latvia

In 2022, overseas shipments of fertilizers decreased by X% to X tons, falling for the second year in a row after two years of growth. In general, exports, however, saw prominent growth. The pace of growth appeared the most rapid in 2014 with an increase of X%. Over the period under review, the exports reached the peak figure at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, fertilizer exports reached $X in 2022. Over the period under review, exports, however, saw a buoyant expansion. The growth pace was the most rapid in 2014 with an increase of X%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Lithuania (X tons) was the main destination for fertilizer exports from Latvia, accounting for a X% share of total exports. Moreover, fertilizer exports to Lithuania exceeded the volume sent to the second major destination, Estonia (X tons), threefold. The third position in this ranking was taken by Poland (X tons), with a X% share.

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

In value terms, Lithuania ($X) remains the key foreign market for fertilizers exports from Latvia, comprising X% of total exports. The second position in the ranking was taken by Estonia ($X), with a X% share of total exports. It was followed by Poland, with a X% share.

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

Export Prices by Country

The average fertilizer export price stood at $X per ton in 2022, rising by X% against the previous year. Over the period under review, export price indicated a moderate 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, fertilizer export price increased by X% against 2017 indices. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. 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 Italy ($X per ton), while the average price for exports to Estonia ($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 Germany (X%), while the prices for the other major destinations experienced more modest paces of growth.

Fertilizer Imports

Imports into Latvia

In 2022, supplies from abroad of fertilizers decreased by X% to X tons, falling for the second year in a row after two years of growth. Overall, total imports indicated a temperate 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 decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2015 when imports increased by X% against the previous year. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, fertilizer imports skyrocketed to $X in 2022. In general, imports, however, saw a prominent increase. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in the near future.

Imports by Country

Lithuania (X tons), Russia (X tons) and Poland (X tons) were the main suppliers of fertilizer imports to Latvia, together comprising X% of total imports. Germany, Belgium, Finland, the Netherlands, Estonia, Belarus and Denmark lagged somewhat behind, together comprising a further X%.

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

In value terms, Lithuania ($X) constituted the largest supplier of fertilizers to Latvia, comprising X% of total imports. The second position in the ranking was held by Russia ($X), with a X% share of total imports. It was followed by Belgium, with an X% share.

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

Import Prices by Country

In 2022, the average fertilizer import price amounted to $X per ton, jumping by X% against the previous year. Overall, the import price showed a notable increase. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to see gradual growth in years to come.

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 the Netherlands ($X per ton), while the price for Estonia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform