Latvia: Green Peas Market 2024

Green Peas Market Size in Latvia

In 2022, the Latvian green peas market decreased by -97.5% to $X, falling for the second year in a row after two years of growth. Over the period under review, consumption saw a significant contraction. Green peas consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Green Peas Production in Latvia

In value terms, green peas production rose slightly to $X in 2022 estimated in export price. Overall, production saw a deep contraction. The most prominent rate of growth was recorded in 2017 when the production volume increased by 270% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

The average yield of peas (green) in Latvia expanded remarkably to X tons per ha in 2022, growing by 7% on 2021. In general, the yield enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2020 when the yield increased by 30%. As a result, the yield reached the peak level of X tons per ha. From 2021 to 2022, the growth of the average green peas yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of peas (green) were harvested in Latvia; waning by -6.7% compared with the previous year's figure. In general, the harvested area faced a abrupt contraction. The pace of growth appeared the most rapid in 2021 with an increase of 15% against the previous year. Over the period under review, the harvested area dedicated to green peas production reached the peak figure at X ha in 2012; however, from 2013 to 2022, the harvested area stood at a somewhat lower figure.

Green Peas Exports

Exports from Latvia

In 2022, overseas shipments of peas (green) increased by 62% to X tons, rising for the second year in a row after two years of decline. Overall, exports showed a significant increase. The pace of growth appeared the most rapid in 2015 when exports increased by 4,346% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, green peas exports soared to $X in 2022. Over the period under review, exports enjoyed a significant increase. The pace of growth was the most pronounced in 2015 when exports increased by 1,594% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

Exports by Country

The UK (X tons) was the main destination for green peas exports from Latvia, accounting for a 73% share of total exports. Moreover, green peas exports to the UK exceeded the volume sent to the second major destination, Norway (X tons), threefold. Estonia (X tons) ranked third in terms of total exports with a 0.5% share.

From 2012 to 2022, the average annual growth rate of volume to the UK amounted to +168.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Norway (+284.9% per year) and Estonia (+6.2% per year).

In value terms, the UK ($X) emerged as the key foreign market for peas (green) exports from Latvia, comprising 72% of total exports. The second position in the ranking was held by Norway ($X), with a 26% share of total exports. It was followed by Estonia, with a 1.2% share.

From 2012 to 2022, the average annual growth rate of value to the UK stood at +163.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Norway (+284.7% per year) and Estonia (+5.8% per year).

Export Prices by Country

In 2022, the average green peas export price amounted to $X per ton, jumping by 95% against the previous year. Over the period under review, the export price, however, showed a deep slump. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Estonia ($X per ton), while the average price for exports to the UK ($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 (+3.4%), while the prices for the other major destinations experienced a decline.

Green Peas Imports

Imports into Latvia

In 2022, the amount of peas (green) imported into Latvia skyrocketed to X tons, rising by 20% against the previous year's figure. In general, imports recorded a significant expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 1,629% against the previous year. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, green peas imports contracted slightly to $X in 2022. Overall, imports posted significant growth. The pace of growth appeared the most rapid in 2014 with an increase of 625%. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Lithuania (X tons) was the main green peas supplier to Latvia, with a 95% share of total imports. It was followed by Italy (X tons), with a 1.8% share of total imports. The third position in this ranking was taken by Poland (X tons), with a 1.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Lithuania stood at +43.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+23.5% per year) and Poland (+16.5% per year).

In value terms, Lithuania ($X) constituted the largest supplier of peas (green) to Latvia, comprising 68% of total imports. The second position in the ranking was held by Italy ($X), with an 11% share of total imports. It was followed by Poland, with a 5.2% share.

From 2012 to 2022, the average annual growth rate of value from Lithuania totaled +36.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+19.5% per year) and Poland (+18.9% per year).

Import Prices by Country

The average green peas import price stood at $X per ton in 2022, with a decrease of -17.1% against the previous year. Over the period under review, the import price faced a drastic downturn. The pace of growth was the most pronounced in 2021 when the average import price increased by 57%. The import price peaked at $X per ton in 2012; however, from 2013 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 Estonia ($X per ton), while the price for Lithuania ($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 (+22.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform