Lithuania: Preserved Sweet Corn Market 2024

Preserved Sweet Corn Market Size in Lithuania

For the third consecutive year, the Lithuanian preserved sweet corn market recorded growth in sales value, which increased by 18% to $X in 2022. Overall, the total consumption indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +112.2% against 2016 indices. Over the period under review, the market attained the peak level in 2022 and is likely to continue growth in years to come.

Preserved Sweet Corn Exports

Exports from Lithuania

In 2022, shipments abroad of sweet corn prepared or preserved was finally on the rise to reach X tons after two years of decline. Over the period under review, exports, however, showed a abrupt setback. The most prominent rate of growth was recorded in 2016 when exports increased by 43% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, preserved sweet corn exports skyrocketed to $X in 2022. Overall, exports, however, saw a deep downturn. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Estonia (X tons) was the main destination for preserved sweet corn exports from Lithuania, with a 66% share of total exports. Moreover, preserved sweet corn exports to Estonia exceeded the volume sent to the second major destination, Russia (X tons), fourfold. The third position in this ranking was held by Belarus (X tons), with an 8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Estonia amounted to -5.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (-3.2% per year) and Belarus (+892.1% per year).

In value terms, Estonia ($X) remains the key foreign market for sweet corn prepared or preserved exports from Lithuania, comprising 67% of total exports. The second position in the ranking was held by Russia ($X), with a 12% share of total exports. It was followed by Belarus, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Estonia totaled -1.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (-7.6% per year) and Belarus (+732.7% per year).

Export Prices by Country

The average preserved sweet corn export price stood at $X per ton in 2022, growing by 25% against the previous year. Over the period under review, export price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, preserved sweet corn export price increased by +106.9% against 2016 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Belarus ($X per ton), while the average price for exports to Latvia ($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 Bulgaria (+10.7%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Sweet Corn Imports

Imports into Lithuania

Preserved sweet corn imports into Lithuania rose remarkably to X tons in 2022, with an increase of 14% on the previous year. The total import volume increased at an average annual rate of +2.7% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when imports increased by 21%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the near future.

In value terms, preserved sweet corn imports surged to $X in 2022. In general, total imports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +5.4% 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 +97.0% against 2016 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 26% against the previous year. Imports peaked in 2022 and are likely to continue growth in the immediate term.

Imports by Country

Hungary (X tons), Poland (X tons) and Germany (X tons) were the main suppliers of preserved sweet corn imports to Lithuania, with a combined 93% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of +32.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest preserved sweet corn suppliers to Lithuania were Poland ($X), Hungary ($X) and Germany ($X), together accounting for 95% of total imports.

Germany, with a CAGR of +38.8%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average preserved sweet corn import price amounted to $X per ton, picking up by 4.9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.6%. The growth pace was the most rapid in 2021 when the average import price increased by 12%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+7.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform