Latvia: Rye Market 2024

Rye Market Size in Latvia

The Latvian rye market surged to $X in 2022, increasing by 60% against the previous year. Overall, consumption recorded a modest increase. Rye consumption peaked at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Rye Production in Latvia

In value terms, rye production shrank to $X in 2022 estimated in export price. In general, production, however, continues to indicate a mild downturn. The most prominent rate of growth was recorded in 2019 with an increase of 102%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

The average yield of rye in Latvia totaled X tons per ha in 2022, growing by 6.6% on the previous year's figure. The yield figure increased at an average annual rate of +1.8% over the period 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 2014 with an increase of 34%. The rye yield peaked at X tons per ha in 2019; however, from 2020 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.

The rye harvested area in Latvia expanded notably to X ha in 2022, with an increase of 7.4% against the previous year's figure. Overall, the harvested area continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the harvested area increased by 99%. As a result, the harvested area reached the peak level of X ha. From 2020 to 2022, the growth of the rye harvested area remained at a lower figure.

Rye Exports

Exports from Latvia

In 2022, overseas shipments of rye decreased by -11.2% to X tons, falling for the second consecutive year after four years of growth. Overall, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 165%. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, rye exports dropped slightly to $X in 2022. Over the period under review, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 186% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Spain (X tons), Luxembourg (X tons) and Germany (X tons) were the main destinations of rye exports from Latvia, together accounting for 78% of total exports. Estonia, Denmark, Lithuania and the UK lagged somewhat behind, together accounting for a further 22%.

From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of +43.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), Luxembourg ($X) and Germany ($X) constituted the largest markets for rye exported from Latvia worldwide, with a combined 79% share of total exports. Estonia, Denmark, Lithuania and the UK lagged somewhat behind, together accounting for a further 21%.

The UK, with a CAGR of +49.8%, saw 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

The average rye export price stood at $X per ton in 2022, surging by 12% against the previous year. Over the period under review, the export price, however, showed a mild descent. The pace of growth appeared the most rapid in 2018 an increase of 32% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were the UK ($X per ton) and Spain ($X per ton), while the average price for exports to Luxembourg ($X per ton) and Lithuania ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+4.1%), while the prices for the other major destinations experienced a decline.

Rye Imports

Imports into Latvia

In 2022, approx. X tons of rye were imported into Latvia; shrinking by -29% compared with 2021. Overall, imports saw a abrupt descent. The most prominent rate of growth was recorded in 2018 with an increase of 1,525%. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, rye imports declined slightly to $X in 2022. Over the period under review, imports saw a perceptible slump. The pace of growth appeared the most rapid in 2018 with an increase of 1,193% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Russia (X tons) constituted the largest supplier of rye to Latvia, with a 81% share of total imports. Moreover, rye imports from Russia exceeded the figures recorded by the second-largest supplier, Lithuania (X tons), sevenfold. Estonia (X tons) ranked third in terms of total imports with a 3.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Russia amounted to -4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Lithuania (-9.5% per year) and Estonia (+31.5% per year).

In value terms, Russia ($X) constituted the largest supplier of rye to Latvia, comprising 67% of total imports. The second position in the ranking was held by Lithuania ($X), with a 12% share of total imports. It was followed by Germany, with a 10% share.

From 2012 to 2022, the average annual growth rate of value from Russia stood at -4.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Lithuania (-7.2% per year) and Germany (-0.3% per year).

Import Prices by Country

In 2022, the average rye import price amounted to $X per ton, jumping by 35% against the previous year. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 64%. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a 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 Germany ($X per ton), while the price for Belarus ($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 (+8.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform