Latvia: Milk Market 2024

Milk Market Size in Latvia

In 2022, the Latvian milk market decreased by X% to $X, falling for the fifth year in a row after two years of growth. Overall, consumption recorded a slight reduction. Milk consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Milk Production in Latvia

In value terms, milk production reached $X in 2022 estimated in export price. Over the period under review, production showed a mild curtailment. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. Milk production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Milk Exports

Exports from Latvia

Milk exports from Latvia stood at X tons in 2022, picking up by X% compared with the previous year. In general, total exports 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, exports increased by X% against 2016 indices. The pace of growth appeared the most rapid in 2018 when exports increased by X%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in years to come.

In value terms, milk exports soared to $X in 2022. Overall, exports posted a prominent expansion. The pace of growth appeared the most rapid in 2017 with an increase of X%. The exports peaked in 2022 and are likely to see gradual growth in years to come.

Exports by Country

Lithuania (X tons) was the main destination for milk exports from Latvia, with a X% share of total exports. Moreover, milk exports to Lithuania exceeded the volume sent to the second major destination, Estonia (X tons), more than tenfold.

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 ($X) remains the key foreign market for milk exports from Latvia, comprising X% of total exports. The second position in the ranking was taken by Estonia ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Lithuania stood at 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 milk export price stood at $X per ton in 2022, picking up by X% against the previous year. Overall, 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, milk export price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2017 an increase of X%. The export price peaked in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Lithuania ($X per ton), while the average price for exports to Poland ($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 Lithuania (X%), while the prices for the other major destinations experienced mixed trend patterns.

Milk Imports

Imports into Latvia

For the fourth consecutive year, Latvia recorded growth in purchases abroad of milk, which increased by X% to X tons in 2022. Overall, imports enjoyed a buoyant expansion. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, milk imports surged to $X in 2022. In general, imports recorded a strong expansion. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Imports peaked in 2022 and are likely to continue growth in years to come.

Imports by Country

In 2022, Estonia (X tons) constituted the largest supplier of milk to Latvia, with a X% share of total imports. Moreover, milk imports from Estonia exceeded the figures recorded by the second-largest supplier, Lithuania (X tons), threefold.

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

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

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

Import Prices by Country

In 2022, the average milk import price amounted to $X per ton, picking up by X% against the previous year. In general, import price indicated pronounced 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, milk import price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2017 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Poland ($X per ton), while the price for Estonia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform