Latvia: Market for Fresh Or Chilled Salmonoids Meat 2024

Market Size for Fresh Or Chilled Salmonoids Meat in Latvia

In 2022, after two years of growth, there was significant decline in the Latvian market for fresh or chilled salmonoids meat, when its value decreased by -91.9% to $X. Over the period under review, consumption faced a sharp slump. Fresh or chilled salmonoids meat consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Production of Fresh Or Chilled Salmonoids Meat in Latvia

In value terms, fresh or chilled salmonoids meat production contracted markedly to $X in 2022 estimated in export price. In general, production, however, enjoyed a buoyant increase. The growth pace was the most rapid in 2018 with an increase of 287% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Exports of Fresh Or Chilled Salmonoids Meat

Exports from Latvia

In 2022, the amount of fresh or chilled salmonoids meat exported from Latvia fell to X tons, standing approx. at 2021 figures. Overall, exports, however, showed significant growth. The growth pace was the most rapid in 2014 with an increase of 6,485% against the previous year. The exports peaked at X tons in 2021, and then fell in the following year.

In value terms, fresh or chilled salmonoids meat exports reduced sharply to $X in 2022. In general, exports, however, saw a significant expansion. The pace of growth appeared the most rapid in 2014 when exports increased by 4,738%. The exports peaked at $X in 2021, and then plummeted in the following year.

Exports by Country

Estonia (X tons), Poland (X tons) and Lithuania (X tons) were the main destinations of fresh or chilled salmonoids meat exports from Latvia, together comprising 97% of total exports.

From 2012 to 2022, the biggest increases were recorded for Estonia (with a CAGR of +149.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for fresh or chilled salmonoids meat exported from Latvia were Estonia ($X), Poland ($X) and Lithuania ($X), together comprising 97% of total exports.

Among the main countries of destination, Estonia, with a CAGR of +107.2%, 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

In 2022, the average export price for fresh or chilled salmonoids meat amounted to $X per ton, declining by -22.7% against the previous year. In general, the export price faced a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 an increase of 53% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Lithuania ($X per ton) and Poland ($X per ton), while the average price for exports to France ($X per ton) and Estonia ($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 (-9.8%), while the prices for the other major destinations experienced a decline.

Imports of Fresh Or Chilled Salmonoids Meat

Imports into Latvia

In 2022, the amount of fresh or chilled salmonoids meat imported into Latvia declined rapidly to X tons, waning by -33.4% against 2021. Over the period under review, imports, however, showed significant growth. The pace of growth appeared the most rapid in 2014 when imports increased by 6,956% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2021, and then contracted sharply in the following year.

In value terms, fresh or chilled salmonoids meat imports fell markedly to $X in 2022. In general, imports, however, recorded significant growth. The growth pace was the most rapid in 2014 when imports increased by 3,828%. Imports peaked at $X in 2021, and then contracted significantly in the following year.

Imports by Country

In 2022, Lithuania (X tons) constituted the largest fresh or chilled salmonoids meat supplier to Latvia, with a 63% share of total imports. Moreover, fresh or chilled salmonoids meat imports from Lithuania exceeded the figures recorded by the second-largest supplier, Estonia (X tons), threefold. Sweden (X tons) ranked third in terms of total imports with a 14% share.

From 2012 to 2022, the average annual growth rate of volume from Lithuania stood at +133.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Estonia (+36.8% per year) and Sweden (-9.7% per year).

In value terms, Lithuania ($X) constituted the largest supplier of fresh or chilled salmonoids meat to Latvia, comprising 78% of total imports. The second position in the ranking was held by Estonia ($X), with a 14% share of total imports. It was followed by Sweden, with a 5.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Lithuania stood at +143.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Estonia (+47.7% per year) and Sweden (-34.5% per year).

Import Prices by Country

The average import price for fresh or chilled salmonoids meat stood at $X per ton in 2022, growing by 8.4% against the previous year. Over the period under review, the import price, however, recorded a abrupt downturn. The most prominent rate of growth was recorded in 2017 an increase of 231%. Over the period under review, average import prices reached the maximum at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

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 Lithuania ($X per ton), while the price for Sweden ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Estonia (+8.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform