Latvia: Market for Wheat and Meslin Flour 2024

Market Size for Wheat and Meslin Flour in Latvia

The Latvian wheat and meslin flour market dropped to $X in 2022, shrinking by -5.9% against the previous year. In general, consumption recorded a noticeable setback. Over the period under review, the market attained the peak level at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Production of Wheat and Meslin Flour in Latvia

In value terms, wheat and meslin flour production dropped slightly to $X in 2022 estimated in export price. In general, production continues to indicate a pronounced shrinkage. The most prominent rate of growth was recorded in 2017 when the production volume increased by 21% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Exports of Wheat and Meslin Flour

Exports from Latvia

In 2022, overseas shipments of wheat and meslin flour increased by 14% to X tons for the first time since 2019, thus ending a two-year declining trend. In general, exports, however, showed a mild descent. The most prominent rate of growth was recorded in 2014 with an increase of 29%. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, wheat and meslin flour exports skyrocketed to $X in 2022. Over the period under review, exports continue to indicate a relatively flat trend pattern. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Lithuania (X tons), Thailand (X tons) and Malta (X tons) were the main destinations of wheat and meslin flour exports from Latvia, with a combined 60% share of total exports. Sierra Leone, Estonia, Poland, Finland and Sweden lagged somewhat behind, together accounting for a further 36%.

From 2012 to 2022, the biggest increases were recorded for Sierra Leone (with a CAGR of +59.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for wheat and meslin flour exported from Latvia were Lithuania ($X), Thailand ($X) and Sierra Leone ($X), together accounting for 57% of total exports.

Sierra Leone, with a CAGR of +65.1%, recorded the highest growth rate of 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

In 2022, the average wheat and meslin flour export price amounted to $X per ton, jumping by 44% against the previous year. Overall, export price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wheat and meslin flour export price increased by +63.6% against 2020 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Poland ($X per ton), while the average price for exports to Sweden ($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 (+7.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Wheat and Meslin Flour

Imports into Latvia

In 2022, imports of wheat and meslin flour into Latvia skyrocketed to X tons, jumping by 50% compared with the previous year's figure. Overall, imports posted moderate growth. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, wheat and meslin flour imports soared to $X in 2022. Over the period under review, imports recorded a temperate expansion. Over the period under review, imports attained the peak figure at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Estonia (X tons), Lithuania (X tons) and Poland (X tons) were the main suppliers of wheat and meslin flour imports to Latvia, with a combined 93% share of total imports. Ukraine lagged somewhat behind, accounting for a further 2.9%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Ukraine (with a CAGR of +6.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Lithuania ($X), Estonia ($X) and Poland ($X) were the largest wheat and meslin flour suppliers to Latvia, together accounting for 91% of total imports. Ukraine lagged somewhat behind, comprising a further 2.7%.

Among the main suppliers, Ukraine, with a CAGR of +12.7%, recorded 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 wheat and meslin flour import price stood at $X per ton in 2022, picking up by 32% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ukraine (+5.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform