Latvia: Clove Market 2024

Clove Market Size in Latvia

The Latvian clove market soared to $X in 2022, with an increase of X% against the previous year. Overall, consumption showed a strong increase. Clove consumption peaked in 2022 and is expected to retain growth in the immediate term.

Clove Production in Latvia

In value terms, clove production amounted to $X in 2022 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. Over the period under review, production reached the peak level in 2022 and is expected to retain growth in the immediate term.

In 2022, the average clove yield in Latvia was estimated at less than X kg per ha, leveling off at the year before. In general, the yield continues to indicate a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. less than X ha of cloves were harvested in Latvia; approximately equating the previous year's figure. In general, the harvested area saw a relatively flat trend pattern.

Clove Exports

Exports from Latvia

In 2022, overseas shipments of cloves increased by X% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports posted buoyant growth. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, clove exports surged to $X in 2022. Overall, exports continue to indicate a resilient expansion. The growth pace was the most rapid in 2018 when exports increased by X% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Russia (X tons) was the main destination for clove exports from Latvia, accounting for a X% share of total exports. Moreover, clove exports to Russia exceeded the volume sent to the second major destination, Poland (X tons), threefold. Romania (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Russia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (X% per year) and Romania (X% per year).

In value terms, Russia ($X) emerged as the key foreign market for cloves exports from Latvia, comprising X% of total exports. The second position in the ranking was taken by Poland ($X), with an X% share of total exports. It was followed by Romania, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Russia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (X% per year) and Romania (X% per year).

Export Prices by Country

In 2022, the average clove export price amounted to $X per ton, picking up by X% against the previous year. In general, the export price enjoyed measured growth. The growth pace was the most rapid in 2013 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Lithuania ($X per ton), while the average price for exports to Serbia ($X 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 Russia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Clove Imports

Imports into Latvia

In 2022, purchases abroad of cloves increased by X% to X tons, rising for the second year in a row after two years of decline. Overall, imports enjoyed a buoyant expansion. The pace of growth appeared the most rapid in 2018 when imports increased by X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, clove imports surged to $X in 2022. Over the period under review, imports showed a resilient expansion. The most prominent rate of growth was recorded in 2018 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Madagascar (X tons), Germany (X tons) and Comoros (X tons) were the main suppliers of clove imports to Latvia, together comprising X% of total imports. Poland, the Netherlands and Estonia lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest clove suppliers to Latvia were Madagascar ($X), Germany ($X) and Comoros ($X), with a combined X% share of total imports. The Netherlands, Poland and Estonia lagged somewhat behind, together accounting for a further X%.

Poland, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average clove import price stood at $X per ton in 2022, increasing by X% against the previous year. Overall, the import price, however, saw a noticeable descent. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

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 Estonia ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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