Price for Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Latvia - 2023
Contents:
- Price for Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Latvia (FOB) - 2023
- Price for Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Latvia (CIF) - 2022
- Exports of Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Latvia
- Imports of Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Latvia
Price for Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Latvia (FOB) - 2023
In October 2023, the average export price for refined cane or beet sugar (with added flavoring or coloring matter) amounted to $4,802 per ton, increasing by 7.7% against the previous month. Over the period under review, export price indicated a moderate increase from October 2022 to October 2023: its price increased at an average monthly rate of +2.7% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on October 2023 figures, export price for refined cane or beet sugar (with added flavoring or coloring matter) increased by +30.4% against May 2023 indices. The growth pace was the most rapid in December 2022 when the average export price increased by 42% month-to-month. Over the period under review, the average export prices reached the maximum at $5,546 per ton in April 2023; however, from May 2023 to October 2023, the export prices failed to regain momentum.
There were significant differences in the average prices for the major external markets. In October 2023, the country with the highest price was Finland ($8,295 per ton), while the average price for exports to Estonia ($1,583 per ton) was amongst the lowest.
From October 2022 to October 2023, the most notable rate of growth in terms of prices was recorded for supplies to Sweden (+1.6%), while the prices for the other major destinations experienced a decline.
Price for Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Latvia (CIF) - 2022
The average import price for refined cane or beet sugar (with added flavoring or coloring matter) stood at $1,763 per ton in 2022, waning by -17.2% against the previous year. In general, import price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 an increase of 65% against the previous year. Over the period under review, average import prices reached the maximum at $2,167 per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($4,275 per ton), while the price for Denmark ($1,272 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+9.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Latvia
In 2022, after three years of growth, there was decline in overseas shipments of refined cane or beet sugar (with added flavoring or coloring matter), when their volume decreased by -4.4% to 690 tons. The total export volume increased at an average annual rate of +8.2% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 16% against the previous year. As a result, the exports reached the peak of 722 tons, and then shrank slightly in the following year.
In value terms, exports of refined cane or beet sugar (with added flavoring or coloring matter) reached $2.6M in 2022. Over the period under review, total exports indicated a resilient increase from 2019 to 2022: its value increased at an average annual rate of +15.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +53.3% against 2019 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 23%. The exports peaked in 2022 and are likely to see gradual growth in the near future.
| Export of Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Sweden | 1,627 | 1,938 | 2,419 | 2,421 | 14.2% |
| Finland | N/A | N/A | N/A | 83.3 | 0% |
| Estonia | 40.2 | 36.5 | 48.9 | 47.6 | 5.8% |
| Others | 7.4 | 40.8 | 17.8 | 15.8 | 28.8% |
| Total | 1,674 | 2,016 | 2,486 | 2,567 | 15.3% |
Top Export Markets for Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) from Latvia in 2022:
- Sweden (658.8 tons)
- Estonia (13.8 tons)
- Finland (12.5 tons)
Imports of Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Latvia
In 2022, approx. 388 tons of refined cane or beet sugar (with added flavoring or coloring matter) were imported into Latvia; increasing by 53% against 2021. In general, total imports indicated a strong expansion from 2019 to 2022: its volume increased at an average annual rate of +14.6% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, imports of refined cane or beet sugar (with added flavoring or coloring matter) surged to $684K in 2022. Over the period under review, total imports indicated resilient growth from 2019 to 2022: its value increased at an average annual rate of +16.9% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +59.6% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Denmark | 240 | 278 | 245 | 337 | 12.0% |
| Lithuania | 97.1 | 109 | 132 | 203 | 27.9% |
| Germany | 25.4 | 31.9 | 64.1 | 67.6 | 38.6% |
| Poland | 16.6 | 9.1 | 10.5 | 11.6 | -11.3% |
| Others | 49.8 | 56.3 | 89.8 | 65.3 | 9.5% |
| Total | 429 | 484 | 542 | 684 | 16.8% |
Top Suppliers of Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) to Latvia in 2022:
- Denmark (264.7 tons)
- Lithuania (97.9 tons)
- Germany (15.8 tons)
- Poland (5.6 tons)
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