Latvia - Sweet Potato - Market Analysis, Forecast, Size, Trends and Insights
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View PricingSweet Potato Price in Latvia - 2023
Contents:
- Sweet Potato Price in Latvia (CIF) - 2022
- Sweet Potato Price in Latvia (FOB) - 2022
- Sweet Potato Imports in Latvia
- Sweet Potato Exports in Latvia
Sweet Potato Price in Latvia (CIF) - 2022
In 2022, the average sweet potato import price amounted to $1,292 per ton, dropping by -10.6% against the previous year. Over the period under review, the import price continues to indicate a noticeable decline. The most prominent rate of growth was recorded in 2017 an increase of 51% against the previous year. As a result, import price reached the peak level of $2,121 per ton. From 2018 to 2022, the average import prices remained at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Egypt ($2,090 per ton), while the price for Lithuania ($1,078 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (+5.1%), while the prices for the other major suppliers experienced mixed trend patterns.
Sweet Potato Price in Latvia (FOB) - 2022
The average sweet potato export price stood at $1,240 per ton in 2022, reducing by -17.4% against the previous year. Overall, the export price showed a noticeable reduction. The pace of growth was the most pronounced in 2017 when the average export price increased by 23%. The export price peaked at $1,998 per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.
Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($1,322 per ton), while the average price for exports to Estonia ($1,217 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 Estonia (-3.2%).
Sweet Potato Imports in Latvia
For the fourth consecutive year, Latvia recorded growth in purchases abroad of sweet potatoes, which increased by 14% to 850 tons in 2022. Over the period under review, imports enjoyed significant growth. The pace of growth was the most pronounced in 2020 when imports increased by 65%. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in the immediate term.
In value terms, sweet potato imports rose to $1.1M in 2022. In general, total imports indicated strong growth from 2019 to 2022: its value increased at an average annual rate of +19.3% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +69.7% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 35% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to see steady growth in years to come.
| Import of Sweet Potato in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 589 | 649 | 791 | 553 | -2.1% |
| Egypt | N/A | N/A | 65.8 | 210 | 219.1% |
| Germany | 5.8 | 6.7 | 37.2 | 190 | 220.0% |
| Sweden | N/A | N/A | N/A | 86.5 | 0% |
| Lithuania | 25.9 | 70.4 | 91.5 | 54.4 | 28.1% |
| Others | 26.3 | 71.8 | 91.3 | 3.0 | -51.5% |
| Total | 647 | 798 | 1,077 | 1,097 | 19.2% |
Top Suppliers of Sweet Potato to Latvia in 2022:
- Netherlands (495.0 tons)
- Germany (124.7 tons)
- Egypt (100.4 tons)
- Sweden (77.3 tons)
- Lithuania (50.5 tons)
Sweet Potato Exports in Latvia
In 2022, approx. 294 tons of sweet potatoes were exported from Latvia; growing by 3.1% compared with the previous year. In general, total exports indicated a significant increase from 2019 to 2022: its volume increased at an average annual rate of +25.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +99.8% against 2019 indices. The pace of growth was the most pronounced in 2020 when exports increased by 84% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the immediate term.
In value terms, sweet potato exports dropped to $365K in 2022. The total export value increased at an average annual rate of +8.3% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 when exports increased by 35% against the previous year.
| Export of Sweet Potato in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Estonia | 136 | 251 | 280 | 245 | 21.7% |
| Lithuania | 151 | 137 | 149 | 105 | -11.4% |
| Russia | N/A | N/A | N/A | 14.8 | 0% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 288 | 388 | 428 | 365 | 8.2% |
Top Export Markets for Sweet Potato from Latvia in 2022:
- Estonia (201.1 tons)
- Lithuania (81.9 tons)
- Russia (11.2 tons)
This report provides an in-depth analysis of the sweet potato market in Latvia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 122 - Sweet potatoes
Country coverage:
- Latvia
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Latvia
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- COUNTRIES WITH TOP YIELDS
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Yield And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Area Harvested, 2012–2023
- Yield, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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