Latvia: Sunflower Seed Market 2025

Sunflower Seed Market Size in Latvia

In 2022, the Latvian sunflower seed market increased by 9.2% to $X, rising for the third year in a row after two years of decline. Over the period under review, consumption, however, continues to indicate a mild increase. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Sunflower Seed Exports

Exports from Latvia

In 2022, approx. X tons of sunflower seed were exported from Latvia; shrinking by -31.8% on 2021. Over the period under review, exports showed a abrupt decline. The pace of growth was the most pronounced in 2020 when exports increased by 1,303% against the previous year. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, sunflower seed exports reduced remarkably to $X in 2022. Overall, exports showed a deep slump. The pace of growth was the most pronounced in 2020 with an increase of 319% against the previous year. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Estonia (X tons) was the main destination for sunflower seed exports from Latvia, accounting for a 50% share of total exports. Moreover, sunflower seed exports to Estonia exceeded the volume sent to the second major destination, Bulgaria (X tons), threefold. Lithuania (X tons) ranked third in terms of total exports with a 9.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Estonia amounted to -7.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bulgaria (+313.6% per year) and Lithuania (-12.7% per year).

In value terms, Estonia ($X) remains the key foreign market for sunflower seed exports from Latvia, comprising 45% of total exports. The second position in the ranking was held by Germany ($X), with an 11% share of total exports. It was followed by Lithuania, with a 9.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Estonia stood at -5.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+24.8% per year) and Lithuania (-10.3% per year).

Export Prices by Country

In 2022, the average sunflower seed export price amounted to $X per ton, with an increase of 3.4% against the previous year. In general, the export price, however, showed a slight setback. The most prominent rate of growth was recorded in 2021 an increase of 361%. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Greece ($X per ton), while the average price for exports to Bulgaria ($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 Germany (+4.5%), while the prices for the other major destinations experienced more modest paces of growth.

Sunflower Seed Imports

Imports into Latvia

In 2022, approx. X tons of sunflower seed were imported into Latvia; with a decrease of -10.4% against the year before. Overall, imports saw a mild curtailment. The pace of growth was the most pronounced in 2020 when imports increased by 361% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, sunflower seed imports surged to $X in 2022. Over the period under review, imports, however, continue to indicate a temperate expansion. The most prominent rate of growth was recorded in 2020 with an increase of 142%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

Lithuania (X tons), Bulgaria (X tons) and Moldova (X tons) were the main suppliers of sunflower seed imports to Latvia, with a combined 85% share of total imports. Poland, Estonia, Hungary, Germany and Ukraine lagged somewhat behind, together comprising a further 14%.

From 2012 to 2022, the biggest increases were recorded for Hungary (with a CAGR of +84.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest sunflower seed suppliers to Latvia were Lithuania ($X), Bulgaria ($X) and Poland ($X), with a combined 86% share of total imports. Moldova, Hungary, Germany, Estonia and Ukraine lagged somewhat behind, together accounting for a further 14%.

Among the main suppliers, Hungary, with a CAGR of +108.2%, saw the highest rates of growth with regard to 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

The average sunflower seed import price stood at $X per ton in 2022, growing by 31% against the previous year. Overall, the import price enjoyed a buoyant increase. The pace of growth was the most pronounced in 2021 when the average import price increased by 120% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Hungary ($X per ton), while the price for Ukraine ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (+12.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform