Price for Flours and Meals; of Soya Beans in Latvia - 2023

Contents:

1. Price for Flours and Meals; of Soya Beans in Latvia (CIF) - 2022
2. Price for Flours and Meals; of Soya Beans in Latvia (FOB) - 2022
3. Imports of Flours and Meals; of Soya Beans in Latvia
4. Exports of Flours and Meals; of Soya Beans in Latvia

Price for Flours and Meals; of Soya Beans in Latvia (CIF) - 2022

In 2022, the average import price for flours and meals; of soya beanses amounted to $600 per ton, rising by 9.2% against the previous year. In general, the import price enjoyed a mild increase. The most prominent rate of growth was recorded in 2013 when the average import price increased by 48% against the previous year. The import price peaked at $956 per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Lithuania ($719 per ton) and Germany ($640 per ton), while the price for the Netherlands ($577 per ton) and Denmark ($636 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Denmark (+4.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Flours and Meals; of Soya Beans in Latvia (FOB) - 2022

In 2022, the average export price for flours and meals; of soya beanses amounted to $396 per ton, shrinking by -10.6% against the previous year. In general, the export price faced a abrupt contraction. The growth pace was the most rapid in 2016 an increase of 32%. Over the period under review, the average export prices reached the maximum at $1,201 per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Lithuania ($398 per ton), while the average price for exports to Estonia stood at $396 per ton.

From 2014 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Estonia (-5.8%).

Imports of Flours and Meals; of Soya Beans in Latvia

In 2022, approx. 6K tons of flours and meals; of soya beanses were imported into Latvia; picking up by 619% on the previous year. In general, imports recorded a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of flours and meals; of soya beanses skyrocketed to $3.6M in 2022. Overall, imports saw a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Top Suppliers of Flours and Meals; of Soya Beans to Latvia in 2022:

1. Netherlands (4.2K tons)
2. Denmark (1.5K tons)
3. Germany (0.2K tons)
4. Lithuania (0.2K tons)

Exports of Flours and Meals; of Soya Beans in Latvia

In 2022, after two years of decline, there was significant growth in overseas shipments of flours and meals; of soya beanses, when their volume increased by 533% to 130 tons. Over the period under review, exports, however, continue to indicate a significant decrease.

In value terms, exports of flours and meals; of soya beanses soared to $52K in 2022. Overall, exports, however, continue to indicate a sharp downturn.

Top Export Markets for Flours and Meals; of Soya Beans from Latvia in 2022:

1. Estonia (126.9 tons)
2. Lithuania (3.2 tons)

Source: IndexBox Market Intelligence Platform