Price for Cereal Groats; Meal and Pellets in Latvia - 2023

Contents:

1. Price for Cereal Groats; Meal and Pellets in Latvia (CIF) - 2023
2. Price for Cereal Groats; Meal and Pellets in Latvia (FOB) - 2023
3. Imports of Cereal Groats; Meal and Pellets in Latvia
4. Exports of Cereal Groats; Meal and Pellets in Latvia

Price for Cereal Groats; Meal and Pellets in Latvia (CIF) - 2023

The average import price for cereal groats; meal and pelletses stood at $637 per ton in September 2023, with an increase of 7.6% against the previous month. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in May 2023 when the average import price increased by 19% month-to-month. Over the period under review, average import prices reached the peak figure at $806 per ton in March 2023; however, from April 2023 to September 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In September 2023, the country with the highest price was Germany ($2,297 per ton), while the price for Ukraine ($405 per ton) was amongst the lowest.

From December 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Estonia (+4.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Cereal Groats; Meal and Pellets in Latvia (FOB) - 2023

The average export price for cereal groats; meal and pelletses stood at $721 per ton in September 2023, reducing by -28% against the previous month. Overall, the export price recorded a abrupt contraction. The pace of growth appeared the most rapid in April 2023 when the average export price increased by 36% month-to-month. Over the period under review, the average export prices attained the peak figure at $1,512 per ton in January 2023; however, from February 2023 to September 2023, the export prices remained at a lower figure.

Average prices varied somewhat for the major export markets. In September 2023, the highest price was recorded for prices to Poland ($900 per ton) and Estonia ($887 per ton), while the average price for exports to Lithuania ($649 per ton) and the Czech Republic ($750 per ton) were amongst the lowest.

From December 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to Poland (+0.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Cereal Groats; Meal and Pellets in Latvia

In 2022, cereal groats; meal and pellets imports into Latvia soared to 3K tons, rising by 21% compared with 2021. Over the period under review, total imports indicated a resilient increase from 2019 to 2022: its volume increased at an average annual rate of +17.9% 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 +63.7% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, cereal groats; meal and pellets imports skyrocketed to $1.8M in 2022. Overall, imports posted a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Top Suppliers of Cereal Groats; Meal and Pellets to Latvia in 2022:

1. Lithuania (1118.4 tons)
2. Poland (785.2 tons)
3. Slovakia (652.6 tons)
4. Estonia (242.8 tons)
5. Ukraine (153.3 tons)

Exports of Cereal Groats; Meal and Pellets in Latvia

For the third year in a row, Latvia recorded decline in shipments abroad of cereal groats; meal and pelletses, which decreased by -85.5% to 1.1K tons in 2022. Overall, exports continue to indicate a dramatic decline. The smallest decline of -0.9% was in 2020.

In value terms, cereal groats; meal and pellets exports declined notably to $1.1M in 2022. In general, exports recorded a precipitous setback. The most prominent rate of growth was recorded in 2020 when exports increased by 16% against the previous year. As a result, the exports reached the peak of $7.2M. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

Top Export Markets for Cereal Groats; Meal and Pellets from Latvia in 2022:

1. Lithuania (537.7 tons)
2. Estonia (389.9 tons)
3. Malta (53.5 tons)
4. Poland (49.3 tons)
5. United Kingdom (21.7 tons)
6. Sweden (5.7 tons)
7. Germany (5.6 tons)

Source: IndexBox Market Intelligence Platform