Latvia: Starch Manufacture Residues Market 2024

Starch Manufacture Residues Market Size in Latvia

The Latvian starch manufacture residues market reduced to $X in 2022, which is down by -7.8% against the previous year. In general, consumption, however, enjoyed a modest increase. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Starch Manufacture Residues Production in Latvia

In value terms, starch manufacture residues production declined to $X in 2022 estimated in export price. In general, production, however, enjoyed a measured expansion. The pace of growth appeared the most rapid in 2013 with an increase of 64% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Starch Manufacture Residues Exports

Exports from Latvia

In 2022, shipments abroad of residues of starch manufacture increased by 77% to X tons, rising for the second year in a row after two years of decline. In general, exports, however, showed a relatively flat trend pattern. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, starch manufacture residues exports soared to $X in 2022. Over the period under review, exports, however, showed a perceptible decrease. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Lithuania (X tons) was the main destination for starch manufacture residues exports from Latvia, accounting for a 69% share of total exports. Moreover, starch manufacture residues exports to Lithuania exceeded the volume sent to the second major destination, Belarus (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume to Lithuania stood at +35.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belarus (-11.1% per year) and Estonia (-0.0% per year).

In value terms, Lithuania ($X), Belarus ($X) and Estonia ($X) appeared to be the largest markets for starch manufacture residues exported from Latvia worldwide.

In terms of the main countries of destination, Lithuania, with a CAGR of +27.5%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average starch manufacture residues export price stood at $X per ton in 2022, shrinking by -8.5% against the previous year. Overall, the export price continues to indicate a perceptible decline. The growth pace was the most rapid in 2019 when the average export price increased by 25%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2014; however, from 2015 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 ($X per ton), while the average price for exports to Lithuania ($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 Belarus (-0.5%), while the prices for the other major destinations experienced a decline.

Starch Manufacture Residues Imports

Imports into Latvia

In 2022, purchases abroad of residues of starch manufacture increased by 39% to X tons for the first time since 2018, thus ending a three-year declining trend. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when imports increased by 677% 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, starch manufacture residues imports soared to $X in 2022. Overall, imports saw a perceptible expansion. The pace of growth was the most pronounced in 2016 when imports increased by 103%. As a result, imports reached the peak of $X. From 2017 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Lithuania (X tons) constituted the largest starch manufacture residues supplier to Latvia, with a 63% share of total imports. Moreover, starch manufacture residues imports from Lithuania exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), fourfold. Sweden (X tons) ranked third in terms of total imports with a 9.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Lithuania totaled +5.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+144.4% per year) and Sweden (-9.7% per year).

In value terms, Lithuania ($X) constituted the largest supplier of residues of starch manufacture to Latvia, comprising 61% of total imports. The second position in the ranking was taken by Sweden ($X), with a 16% share of total imports. It was followed by the Netherlands, with a 7.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Lithuania amounted to +20.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (-9.1% per year) and the Netherlands (+158.0% per year).

Import Prices by Country

The average starch manufacture residues import price stood at $X per ton in 2022, increasing by 4.4% against the previous year. Over the period under review, the import price enjoyed a buoyant increase. The pace of growth appeared the most rapid in 2013 an increase of 145%. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average import prices failed to regain momentum.

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 Finland ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belarus (+42.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform