Latvia: Vegetable Market 2024

Vegetable Market Size in Latvia

In 2022, after two years of decline, there was significant growth in the Latvian vegetable market, when its value increased by X% to $X. Over the period under review, consumption, however, recorded a deep setback. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Vegetable Production in Latvia

In value terms, vegetable production fell to $X in 2022 estimated in export price. In general, production, however, showed a abrupt curtailment. The pace of growth appeared the most rapid in 2019 when the production volume increased by X% against the previous year. Vegetable production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

The average yield of vegetables in Latvia expanded remarkably to X tons per ha in 2022, growing by X% against the previous year's figure. In general, the yield showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of X%. The vegetable yield peaked at X tons per ha in 2016; however, from 2017 to 2022, the 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, the harvested area of vegetables in Latvia expanded significantly to X ha, growing by X% compared with the year before. Overall, the harvested area, however, saw a abrupt downturn. The vegetable harvested area peaked at X ha in 2012; however, from 2013 to 2022, the harvested area stood at a somewhat lower figure.

Vegetable Exports

Exports from Latvia

Vegetable exports from Latvia reduced to X tons in 2022, with a decrease of X% against 2021 figures. Over the period under review, exports, however, showed a prominent increase. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, the exports reached the maximum at X tons in 2021, and then reduced in the following year.

In value terms, vegetable exports expanded notably to $X in 2022. In general, exports, however, recorded buoyant growth. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in years to come.

Exports by Country

Estonia (X tons), Lithuania (X tons) and Germany (X tons) were the main destinations of vegetable exports from Latvia, with a combined X% share of total exports. The UK, Norway, Uzbekistan and Poland lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Uzbekistan (with a CAGR of X.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Estonia ($X) remains the key foreign market for vegetables exports from Latvia, comprising X% of total exports. The second position in the ranking was taken by Lithuania ($X), with a X% share of total exports. It was followed by the UK, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Estonia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lithuania (X% per year) and the UK (X% per year).

Export Prices by Country

The average vegetable export price stood at $X per ton in 2022, with an increase of X% against the previous year. Overall, the export price, however, continues to indicate a perceptible downturn. The growth pace was the most rapid in 2019 an increase of X%. 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 stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Estonia ($X per ton), while the average price for exports to Poland ($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 Poland (X%), while the prices for the other major destinations experienced a decline.

Vegetable Imports

Imports into Latvia

Vegetable imports into Latvia totaled X tons in 2022, with an increase of X% on 2021 figures. Over the period under review, total imports indicated a resilient 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, imports increased by X% against 2012 indices. The pace of growth appeared the most rapid in 2014 when imports increased by X%. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in years to come.

In value terms, vegetable imports rose markedly to $X in 2022. In general, total imports indicated a strong expansion from 2012 to 2022: its value 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, imports increased by X% against 2015 indices. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Poland (X tons), Lithuania (X tons) and the Netherlands (X tons) were the main suppliers of vegetable imports to Latvia, with a combined X% share of total imports. Spain, Estonia, Germany, Finland, Turkey, France, Sweden and Italy lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Finland (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Spain ($X) and Poland ($X) were the largest vegetable suppliers to Latvia, with a combined X% share of total imports. Lithuania, Germany, France, Italy, Turkey, Estonia, Sweden and Finland lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Germany, with a CAGR of X%, saw the highest growth rate of 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 vegetable import price stood at $X per ton in 2022, rising by X% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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

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

Source: IndexBox Platform