Latvia - Honey - Market Analysis, Forecast, Size, Trends and Insights
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View PricingHoney Price in Latvia - 2023
Contents:
- Honey Price in Latvia (FOB) - 2023
- Honey Price in Latvia (CIF) - 2022
- Honey Exports in Latvia
- Honey Imports in Latvia
Honey Price in Latvia (FOB) - 2023
The average honey export price stood at $4,342 per ton in September 2023, surging by 17% against the previous month. In general, export price indicated a mild increase from September 2022 to September 2023: its price increased at an average monthly rate of +1.7% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on September 2023 figures, honey export price increased by +17.3% against August 2023 indices. The growth pace was the most rapid in October 2022 an increase of 29% against the previous month. Over the period under review, the average export prices reached the peak figure at $6,669 per ton in January 2023; however, from February 2023 to September 2023, the export prices remained at a lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was the UK ($12,329 per ton), while the average price for exports to Poland ($2,961 per ton) was amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+17.1%), while the prices for the other major destinations experienced more modest paces of growth.
Honey Price in Latvia (CIF) - 2022
In 2022, the average honey import price amounted to $3,721 per ton, increasing by 14% against the previous year. In general, import price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, honey import price increased by +58.3% against 2016 indices. The pace of growth appeared the most rapid in 2013 when the average import price increased by 25% against the previous year. The import price peaked in 2022 and is likely to continue growth in years to come.
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 Sweden ($6,620 per ton), while the price for China ($2,255 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+7.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Honey Exports in Latvia
In 2022, overseas shipments of honey decreased by -5.4% to 557 tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports, however, showed significant growth. The pace of growth was the most pronounced in 2021 when exports increased by 103%. As a result, the exports reached the peak of 589 tons, and then shrank in the following year.
In value terms, honey exports reduced slightly to $2.4M in 2022. In general, exports, however, recorded significant growth. The pace of growth was the most pronounced in 2021 when exports increased by 116%. As a result, the exports attained the peak of $2.4M, and then reduced modestly in the following year.
Export of Honey in Latvia (Thousand USD) | |||||
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COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Poland | 128 | 617 | 1,437 | 735 | 79.1% |
Germany | 216 | 39.1 | 259 | 522 | 34.2% |
Estonia | 266 | 280 | 326 | 485 | 22.2% |
United Kingdom | 33.0 | 64.3 | 143 | 263 | 99.7% |
Netherlands | N/A | 0.2 | 120 | 203 | 3085.9% |
Lithuania | 80.8 | 100 | 114 | 111 | 11.2% |
Ireland | 14.3 | 29.4 | 38.3 | 32.4 | 31.3% |
Others | 10.3 | 4.7 | 11.0 | 35.7 | 51.3% |
Total | 748 | 1,135 | 2,449 | 2,387 | 47.2% |
Top Export Markets for Honey from Latvia in 2022:
- Poland (213.8 tons)
- Germany (133.5 tons)
- Estonia (114.6 tons)
- United Kingdom (31.5 tons)
- Netherlands (25.6 tons)
- Lithuania (25.6 tons)
- Ireland (7.0 tons)
Honey Imports in Latvia
In 2022, honey imports into Latvia expanded significantly to 364 tons, picking up by 8.6% against the year before. The total import volume increased at an average annual rate of +11.2% over the period 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 when imports increased by 18%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.
In value terms, honey imports surged to $1.4M in 2022. Overall, imports recorded a significant expansion. The pace of growth was the most pronounced in 2021 when imports increased by 36%. Imports peaked in 2022 and are expected to retain growth in the immediate term.
Import of Honey in Latvia (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Lithuania | 271 | 301 | 316 | 375 | 11.4% |
Germany | 9.2 | 26.7 | 194 | 310 | 223.0% |
China | 110 | 47.3 | 64.0 | 183 | 18.5% |
Belgium | N/A | N/A | N/A | 169 | 0% |
Poland | 240 | 344 | 462 | 113 | -22.2% |
Sweden | 32.9 | 28.5 | 33.4 | 82.5 | 35.9% |
Others | 17.4 | 60.3 | 26.0 | 121 | 90.9% |
Total | 681 | 808 | 1,095 | 1,353 | 25.7% |
Top Suppliers of Honey to Latvia in 2022:
- Lithuania (109.0 tons)
- China (81.2 tons)
- Belgium (60.9 tons)
- Germany (53.2 tons)
- Poland (33.9 tons)
- Sweden (12.5 tons)
This report provides an in-depth analysis of the honey 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 1182 - Honey
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
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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
- 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 VOLUME AND VALUE
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
- 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
- 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
This report provides an in-depth analysis of the honey market in Latvia.
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This report provides an in-depth analysis of the honey market in Latvia.
This report provides an in-depth analysis of the manuka market in Latvia.
This report provides an in-depth analysis of the global honey market.
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In 2016, the market value of honey totaled $X. A slight drop in 2009 was followed by a sharp increase over the period from 2010-2013. However, the market value declined over the next two years, which was then followed by a recovery in 2016. Equall
Global honey consumption amounted to X thousand tons in 2015, rising by +X% against the previous year level.
Global honey imports amounted to X thousand tons in 2015, rising by +X% against the previous year level.
In 2015 the global honey market value totaled X million USD. A slight drop in 2009 was followed by a sharp increase in 2010-2011.
Global honey market production was estimated at X million USD in 2015, which was X million USD (or X%) below the peak production level of 2013.
The value of total imports on the global honey market in 2015 stood at X million USD. There was an annual increase of +X% for the period from 2007 to 2015. In physical terms, imports of honey reached X thousand tons in 2015, which was X tho
In 2015, the global market value of honey totaled X million USD. A slight drop in 2009 was followed by a sharp increase in 2010-2011. The next four years were characterized by mixed dynamics. In physical terms, the market showed gradual increase ov
From 2007 to 2015, global exports of honey grew by +X% per year, amounting to X million USD in 2015. In physical terms, they reached X thousand tons in 2015, which was X thousand tons more than the year before.
Honey is predominantly consumed in its unprocessed state, in other words - in a liquid, crystallized form or in the comb. Containing a complex of naturally flavored sugars as well as trace enzymes, minerals, vitamins, and amino acids, honey is consumed
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