Latvia: Cherry Market 2024

Cherry Market Size in Latvia

In 2022, the Latvian cherry market increased by X% to $X, rising for the sixth consecutive year after two years of decline. In general, consumption showed a prominent increase. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in the immediate term.

Cherry Production in Latvia

In value terms, cherry production rose slightly to $X in 2022 estimated in export price. Overall, production continues to indicate moderate growth. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Cherry production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

In 2022, the average yield of cherries in Latvia contracted to X kg per ha, approximately mirroring 2021. Overall, the yield continues to indicate a mild contraction. The most prominent rate of growth was recorded in 2015 when the yield increased by X% against the previous year. Over the period under review, the average cherry yield attained the maximum level at X kg per ha in 2016; however, from 2017 to 2022, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of cherries production in Latvia stood at X ha, surging by X% compared with the previous year's figure. Over the period under review, the total harvested area indicated a strong increase from 2012 to 2022: its figure increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cherry harvested area decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2013 with an increase of X%. The cherry harvested area peaked at X ha in 2014; however, from 2015 to 2022, the harvested area stood at a somewhat lower figure.

Cherry Exports

Exports from Latvia

In 2022, the amount of cherries exported from Latvia expanded slightly to X tons, surging by X% against the year before. Overall, exports saw a significant increase. The pace of growth was the most pronounced in 2015 when exports increased by X%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, cherry exports shrank to $X in 2022. In general, exports recorded significant growth. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. The exports peaked at $X in 2021, and then reduced in the following year.

Exports by Country

Estonia (X tons) and Lithuania (X tons) were the main destinations of cherry exports from Latvia.

From 2012 to 2022, the biggest increases were recorded for Lithuania (with a CAGR of X%).

In value terms, the largest markets for cherry exported from Latvia were Estonia ($X) and Lithuania ($X).

Among the main countries of destination, Lithuania, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

The average cherry export price stood at $X per ton in 2022, with a decrease of X% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of X%. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Estonia ($X per ton), while the average price for exports to Lithuania totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Estonia (X%).

Cherry Imports

Imports into Latvia

In 2022, supplies from abroad of cherries increased by X% to X tons, rising for the sixth year in a row after two years of decline. Over the period under review, imports continue to indicate a significant expansion. The growth pace was the most rapid in 2014 when imports increased by X%. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, cherry imports rose slightly to $X in 2022. In general, imports saw a prominent increase. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Greece (X tons) constituted the largest supplier of cherry to Latvia, with a X% share of total imports. Moreover, cherry imports from Greece exceeded the figures recorded by the second-largest supplier, Spain (X tons), fivefold. The third position in this ranking was taken by North Macedonia (X tons), with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Greece stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (X% per year) and North Macedonia (X% per year).

In value terms, Greece ($X) constituted the largest supplier of cherries to Latvia, comprising X% of total imports. The second position in the ranking was taken by Spain ($X), with a X% share of total imports. It was followed by Germany, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Greece stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (X% per year) and Germany (X% per year).

Import Prices by Country

In 2022, the average cherry import price amounted to $X per ton, with a decrease of X% against the previous year. Overall, the import price saw a pronounced decrease. The growth pace was the most rapid in 2019 when the average import price increased by X%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Greece ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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