Latvia: Grain Market 2025

Grain Market Size in Latvia

In 2022, the Latvian grain market increased by X% to $X, rising for the second year in a row after two years of decline. Over the period under review, the total consumption indicated tangible growth 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 2020 indices. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in the immediate term.

Grain Production in Latvia

In value terms, grain production expanded slightly to $X in 2022 estimated in export price. Overall, the total production indicated modest growth 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, production decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2019 when the production volume increased by X% against the previous year. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

In 2022, the average grain yield in Latvia totaled X tons per ha, with an increase of X% on the previous year's figure. In general, the yield showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the yield increased by X%. The grain yield peaked at X tons per ha in 2015; however, from 2016 to 2022, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the grain harvested area in Latvia fell to X ha, remaining relatively unchanged against the previous year's figure. The harvested area increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 when the harvested area increased by X% against the previous year. The grain harvested area peaked at X ha in 2021, and then shrank modestly in the following year.

Grain Exports

Exports from Latvia

In 2022, approx. X tons of grain were exported from Latvia; increasing by X% on 2021 figures. Overall, exports showed a strong increase. The most prominent rate of growth was recorded in 2019 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, grain exports surged to $X in 2022. Over the period under review, exports continue to indicate a remarkable increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Nigeria (X tons), Spain (X tons) and Saudi Arabia (X tons) were the main destinations of grain exports from Latvia, with a combined X% share of total exports. The Netherlands, Mozambique, Angola, Lithuania, South Africa, Morocco, Tanzania, Israel, Norway and Ghana lagged somewhat behind, together accounting for a further X%.

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

In value terms, the largest markets for grain exported from Latvia were Nigeria ($X), Spain ($X) and Saudi Arabia ($X), together comprising X% of total exports. The Netherlands, Mozambique, Angola, Lithuania, South Africa, Morocco, Tanzania, Israel, Norway and Ghana lagged somewhat behind, together accounting for a further X%.

Angola, with a CAGR of X%, recorded the highest rates of growth with regard to 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

In 2022, the average grain export price amounted to $X per ton, with an increase of X% against the previous year. Overall, export price indicated mild growth 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, grain export price increased by X% against 2018 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Saudi Arabia ($X per ton) and Morocco ($X per ton), while the average price for exports to Ghana ($X per ton) and Norway ($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 Israel (X%), while the prices for the other major destinations experienced more modest paces of growth.

Grain Imports

Imports into Latvia

Grain imports into Latvia expanded remarkably to X tons in 2022, surging by X% on the previous year's figure. Overall, imports enjoyed buoyant growth. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, grain imports surged to $X in 2022. In general, imports saw a resilient expansion. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Lithuania (X tons) constituted the largest grain supplier to Latvia, with a X% share of total imports. Moreover, grain imports from Lithuania exceeded the figures recorded by the second-largest supplier, Russia (X tons), twofold. Estonia (X tons) ranked third in terms of total imports with a X% share.

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

In value terms, Lithuania ($X), Russia ($X) and Estonia ($X) were the largest grain suppliers to Latvia, together accounting for X% of total imports. The Netherlands and Ukraine lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, the Netherlands, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average grain import price amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of X%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Estonia ($X per ton) and the Netherlands ($X per ton), while the price for Ukraine ($X per ton) and Lithuania ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform