Latvia - Spinach - Market Analysis, Forecast, Size, Trends and Insights
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View PricingSpinach Price in Latvia - 2023
Contents:
- Spinach Price in Latvia (CIF) - 2022
- Spinach Price in Latvia (FOB) - 2022
- Spinach Imports in Latvia
- Spinach Exports in Latvia
Spinach Price in Latvia (CIF) - 2022
In 2022, the average spinach import price amounted to $7,076 per ton, falling by -9.5% against the previous year. Over the period under review, import price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, spinach import price decreased by -14.2% against 2020 indices. The most prominent rate of growth was recorded in 2015 when the average import price increased by 31% against the previous year. The import price peaked at $8,249 per ton in 2020; however, from 2021 to 2022, import prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Sweden ($12,978 per ton), while the price for Poland ($1,530 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+7.0%), while the prices for the other major suppliers experienced mixed trend patterns.
Spinach Price in Latvia (FOB) - 2022
The average spinach export price stood at $9,207 per ton in 2022, reducing by -34.7% against the previous year. Over the period under review, export price indicated a temperate expansion 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 2014 an increase of 60% against the previous year. Over the period under review, the average export prices hit record highs at $15,077 per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Lithuania ($15,651 per ton), while the average price for exports to Estonia stood at $8,723 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Lithuania (+7.2%).
Spinach Imports in Latvia
In 2022, spinach imports into Latvia soared to 116 tons, jumping by 50% on 2021 figures. Over the period under review, total imports indicated a prominent increase from 2019 to 2022: its volume increased at an average annual rate of +5.2% 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 +66.5% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, spinach imports surged to $822K in 2022. The total import value increased at an average annual rate of +3.4% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Spinach in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 2.9 | 1.9 | 4.8 | 331 | 385.1% |
| Italy | 293 | 171 | 210 | 224 | -8.6% |
| Sweden | 371 | 357 | 318 | 203 | -18.2% |
| Lithuania | 62.0 | 31.4 | 58.0 | 59.7 | -1.3% |
| Others | 14.5 | 14.1 | 15.3 | 4.4 | -32.8% |
| Total | 744 | 576 | 606 | 822 | 3.4% |
Top Suppliers of Spinach to Latvia in 2022:
- Germany (45.2 tons)
- Italy (43.2 tons)
- Sweden (15.7 tons)
- Lithuania (11.0 tons)
Spinach Exports in Latvia
Spinach exports from Latvia skyrocketed to 19 tons in 2022, increasing by 156% on the previous year's figure. Over the period under review, exports posted significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, spinach exports skyrocketed to $174K in 2022. Overall, exports enjoyed a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Spinach in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Estonia | 74.4 | 75.1 | 69.8 | 153 | 27.2% |
| Lithuania | 22.4 | 19.1 | 34.3 | 20.6 | -2.8% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 96.8 | 94.2 | 104 | 174 | 21.6% |
Top Export Markets for Spinach from Latvia in 2022:
- Estonia (17.6 tons)
- Lithuania (1.3 tons)
This report provides an in-depth analysis of the spinach 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 373 - Spinach
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
- 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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Despite the pandemic, the global market for spinach continues to grow thanks to high demand from China. While the Chinese market is supplied domestically, the U.S., the UK and Mexico feature the most rapidly growing imports. Driven by the rising demand for food worldwide, the spinach market is projected to reach 42M tons by 2030. Spinach suppliers to Western countries are facing increasingly stringent requirements of providing produce safe from pesticides and other contaminants. The new potential was discovered to use this plant in the production process for energy-efficient batteries, which may elevate opportunities for investing in the market.
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Global spinach consumption amounted to X thousand tons in 2015, going up by +X% against the previous year level.
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Global spinach exports amounted to X thousand tons in 2015, declining by -X% against the previous year level.
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Global spinach imports amounted to X thousand tons in 2015, lowering by -X% against the previous year level.
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In 2015, the country with the largest volume of the spinach output was China (X thousand tons), accounting for X% of global production. The third position in this ranking was occupied by Japan with a share of X>
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The U.S. is the world's largest and fasted-growing importer of pumpkins (508K tons in 2018), which accounts for 34% of global imports, while Mexico holds a 86% share in U.S. pumpkin imports.
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