Latvia: Vegetable Product Market 2025

Vegetable Product Market Size in Latvia

The Latvian vegetable product market soared to $X in 2022, jumping by 132% against the previous year. Over the period under review, consumption continues to indicate significant growth. Over the period under review, the market attained the maximum level in 2022 and is likely to see steady growth in the near future.

Vegetable Product Production in Latvia

In value terms, vegetable product production stood at $X in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the production volume increased by 88% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

The average yield of vegetable products in Latvia stood at less than X kg per ha in 2022, approximately reflecting the previous year. Overall, the yield saw a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of vegetable products production in Latvia totaled less than X ha, remaining relatively unchanged against the year before. Over the period under review, the harvested area continues to indicate a relatively flat trend pattern.

Vegetable Product Exports

Exports from Latvia

In 2022, the amount of vegetable products exported from Latvia contracted significantly to X tons, waning by -39.1% on 2021. Overall, exports, however, enjoyed significant growth. The pace of growth was the most pronounced in 2015 when exports increased by 22,143% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, vegetable product exports fell markedly to $X in 2022. Over the period under review, exports, however, saw a significant expansion. The pace of growth was the most pronounced in 2014 when exports increased by 3,011% against the previous year. The exports peaked at $X in 2021, and then shrank significantly in the following year.

Exports by Country

Russia (X tons) was the main destination for vegetable product exports from Latvia, accounting for a 68% share of total exports. Moreover, vegetable product exports to Russia exceeded the volume sent to the second major destination, Romania (X tons), threefold. Estonia (X tons) ranked third in terms of total exports with a 6.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Russia totaled +48.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+217.3% per year) and Estonia (+140.0% per year).

In value terms, Romania ($X) remains the key foreign market for vegetable products exports from Latvia, comprising 47% of total exports. The second position in the ranking was held by Estonia ($X), with a 19% share of total exports. It was followed by Russia, with a 16% share.

From 2012 to 2022, the average annual growth rate of value to Romania amounted to +236.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (+135.7% per year) and Russia (+67.8% per year).

Export Prices by Country

The average vegetable product export price stood at $X per ton in 2022, picking up by 32% against the previous year. Over the period under review, the export price, however, saw a deep reduction. The growth pace was the most rapid in 2014 when the average export price increased by 344%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Estonia ($X per ton), while the average price for exports to Russia ($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 Ukraine (+24.8%), while the prices for the other major destinations experienced more modest paces of growth.

Vegetable Product Imports

Imports into Latvia

In 2022, the amount of vegetable products imported into Latvia skyrocketed to X tons, rising by 23% compared with 2021 figures. Overall, imports enjoyed significant growth. The pace of growth appeared the most rapid in 2013 with an increase of 564%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, vegetable product imports surged to $X in 2022. Over the period under review, imports enjoyed significant growth. The most prominent rate of growth was recorded in 2018 with an increase of 239% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

Poland (X tons), Hungary (X tons) and Lithuania (X tons) were the main suppliers of vegetable product imports to Latvia, with a combined 60% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Hungary (with a CAGR of +648.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest vegetable product suppliers to Latvia were Hungary ($X), Poland ($X) and Estonia ($X), with a combined 56% share of total imports.

Hungary, with a CAGR of +537.3%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average vegetable product import price stood at $X per ton in 2022, growing by 6.5% against the previous year. Overall, the import price, however, continues to indicate a abrupt decline. The pace of growth appeared the most rapid in 2021 an increase of 94% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+15.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform