Latvia: Ginger Market 2025

Ginger Market Size in Latvia

The Latvian ginger market contracted modestly to $X in 2022, therefore, remained relatively stable against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption saw strong growth. Ginger consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Ginger Exports

Exports from Latvia

In 2022, after five years of growth, there was significant decline in overseas shipments of ginger, when their volume decreased by -21.1% to X tons. In general, exports, however, posted a resilient increase. The pace of growth was the most pronounced in 2017 with an increase of 52% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2021, and then contracted significantly in the following year.

In value terms, ginger exports contracted significantly to $X in 2022. Overall, exports, however, showed resilient growth. The growth pace was the most rapid in 2020 when exports increased by 74% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then fell significantly in the following year.

Exports by Country

Estonia (X tons), Russia (X tons) and Poland (X tons) were the main destinations of ginger exports from Latvia, with a combined 54% share of total exports. Romania, Lithuania, Ukraine, Bulgaria and the Czech Republic lagged somewhat behind, together comprising a further 37%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Romania (with a CAGR of +86.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for ginger exported from Latvia were Estonia ($X), Poland ($X) and Russia ($X), with a combined 54% share of total exports. Romania, Lithuania, Ukraine, the Czech Republic and Bulgaria lagged somewhat behind, together accounting for a further 38%.

Romania, with a CAGR of +87.9%, saw the highest growth rate of the value of exports, among 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 ginger export price stood at $X per ton in 2022, waning by -8.6% against the previous year. Over the period under review, export price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of +8.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 an increase of 96%. Over the period under review, the average export prices reached the maximum at $X per ton in 2021, and then declined in the following year.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Poland ($X per ton) and the Czech Republic ($X per ton), while the average price for exports to Bulgaria ($X per ton) and Ukraine ($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 Estonia (+8.7%), while the prices for the other major destinations experienced more modest paces of growth.

Ginger Imports

Imports into Latvia

In 2022, after three years of growth, there was significant decline in supplies from abroad of ginger, when their volume decreased by -7.7% to X tons. Over the period under review, total imports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +7.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +74.2% against 2016 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 51% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2021, and then declined in the following year.

In value terms, ginger imports declined markedly to $X in 2022. Overall, imports, however, posted strong growth. The growth pace was the most rapid in 2013 when imports increased by 112%. Imports peaked at $X in 2021, and then shrank notably in the following year.

Imports by Country

In 2022, the Netherlands (X tons) constituted the largest supplier of ginger to Latvia, accounting for a 44% share of total imports. Moreover, ginger imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Peru (X tons), twofold. The third position in this ranking was held by Nigeria (X tons), with a 17% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the Netherlands amounted to +21.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Peru (+26.4% per year) and Nigeria (+49.3% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of ginger to Latvia, comprising 41% of total imports. The second position in the ranking was held by Nigeria ($X), with a 15% share of total imports. It was followed by Peru, with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the Netherlands stood at +29.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Nigeria (+50.0% per year) and Peru (+24.4% per year).

Import Prices by Country

The average ginger import price stood at $X per ton in 2022, reducing by -17.2% against the previous year. Over the period under review, the import price, however, posted a buoyant expansion. The growth pace was the most rapid in 2020 an increase of 68% against the previous year. As a result, import price reached the peak level of $X per ton. From 2021 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Estonia ($X per ton), while the price for Peru ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lithuania (+9.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform