Latvia - Chocolate And Other Food Preparations Containing Cocoa - Market Analysis, Forecast, Size, Trends And Insights
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View PricingChocolate Price in Latvia - 2023
Contents:
- Chocolate Price in Latvia (CIF) - 2023
- Chocolate Price in Latvia (FOB) - 2023
- Chocolate Imports in Latvia
- Chocolate Exports in Latvia
Chocolate Price in Latvia (CIF) - 2023
The average chocolate import price stood at $4,795 per ton in September 2023, which is down by -15% against the previous month. Overall, import price indicated a moderate increase from September 2022 to September 2023: its price increased at an average monthly rate of +3.5% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on September 2023 figures, chocolate import price increased by +23.3% against June 2023 indices. The pace of growth was the most pronounced in August 2023 when the average import price increased by 23% m-o-m. As a result, import price attained the peak level of $5,644 per ton, and then dropped sharply in the following month.
Prices varied noticeably by the country of origin: the country with the highest price was Poland ($8,754 per ton), while the price for Sweden ($3,113 per ton) was amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Poland (+4.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Chocolate Price in Latvia (FOB) - 2023
The average chocolate export price stood at $6,749 per ton in September 2023, picking up by 49% against the previous month. In general, export price indicated a noticeable expansion from September 2022 to September 2023: its price increased at an average monthly rate of +4.9% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on September 2023 figures, chocolate export price increased by +68.3% against December 2022 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.
There were significant differences in the average prices for the major overseas markets. In September 2023, the country with the highest price was Poland ($10,896 per ton), while the average price for exports to Kazakhstan ($5,459 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 Poland (+11.0%), while the prices for the other major destinations experienced more modest paces of growth.
Chocolate Imports in Latvia
In 2022, after three years of growth, there was decline in purchases abroad of chocolate and other food preparations containing cocoa, when their volume decreased by -3.3% to 2.3K tons. Over the period under review, total imports indicated a resilient expansion from 2019 to 2022: its volume increased at an average annual rate of +19.2% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +69.4% against 2019 indices. The growth pace was the most rapid in 2021 with an increase of 52% against the previous year. As a result, imports attained the peak of 2.4K tons, and then shrank in the following year.
In value terms, chocolate imports dropped to $7.9M in 2022. Overall, total imports indicated significant growth from 2019 to 2022: its value increased at an average annual rate of +20.2% 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 +73.9% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 49%. As a result, imports reached the peak of $8.2M, and then shrank in the following year.
| Import of Chocolate in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Belgium | 2,058 | 1,667 | 2,324 | 2,145 | 1.4% |
| Estonia | 199 | 115 | 1,484 | 1,783 | 107.7% |
| Sweden | 829 | 956 | 1,130 | 1,032 | 7.6% |
| Poland | 867 | 771 | 931 | 689 | -7.4% |
| Ukraine | 26.5 | 131 | 297 | 476 | 161.9% |
| Hungary | 0.4 | 92.0 | 284 | 458 | 946.2% |
| Lithuania | 153 | 270 | 356 | 367 | 33.9% |
| Italy | 64.4 | 901 | 842 | 251 | 57.4% |
| Germany | 209 | 277 | 221 | 207 | -0.3% |
| Others | 141 | 313 | 316 | 498 | 52.3% |
| Total | 4,548 | 5,493 | 8,186 | 7,907 | 20.2% |
Top Suppliers of Chocolate to Latvia in 2022:
- Estonia (689.5 tons)
- Belgium (527.2 tons)
- Sweden (345.5 tons)
- Poland (168.1 tons)
- Ukraine (135.2 tons)
- Hungary (126.1 tons)
- Lithuania (102.1 tons)
- Italy (69.7 tons)
- Germany (52.3 tons)
Chocolate Exports in Latvia
In 2022, shipments abroad of chocolate and other food preparations containing cocoa decreased by -37.4% to 579 tons, falling for the second year in a row after two years of growth. In general, exports continue to indicate a abrupt shrinkage. The pace of growth was the most pronounced in 2020 with an increase of 17%. As a result, the exports reached the peak of 1.2K tons. From 2021 to 2022, the growth of the exports failed to regain momentum.
In value terms, chocolate exports reduced notably to $2.4M in 2022. Overall, exports continue to indicate a deep slump. The most prominent rate of growth was recorded in 2020 with an increase of 27% against the previous year. As a result, the exports attained the peak of $4.8M. From 2021 to 2022, the growth of the exports remained at a lower figure.
| Export of Chocolate in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Russia | 2,359 | 3,307 | 2,209 | 949 | -26.2% |
| Lithuania | 781 | 877 | 967 | 482 | -14.9% |
| Belarus | 197 | 175 | 166 | 235 | 6.1% |
| Kazakhstan | 27.8 | 31.5 | 63.8 | 207 | 95.3% |
| Sweden | N/A | N/A | 36.8 | 165 | 348.4% |
| Uzbekistan | 112 | 134 | 145 | 131 | 5.4% |
| Estonia | 91.5 | 107 | 106 | 122 | 10.1% |
| Poland | 179 | 28.5 | 13.7 | 101 | -17.4% |
| Others | 31.6 | 138 | 42.4 | 23.8 | -9.0% |
| Total | 3,779 | 4,797 | 3,750 | 2,417 | -13.8% |
Top Export Markets for Chocolate from Latvia in 2022:
- Russia (218.4 tons)
- Lithuania (129.1 tons)
- Kazakhstan (57.2 tons)
- Belarus (53.2 tons)
- Poland (35.5 tons)
- Uzbekistan (30.3 tons)
- Sweden (28.2 tons)
- Estonia (23.3 tons)
This report provides an in-depth analysis of the chocolate 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:
- Prodcom 10822130 - Chocolate and other food preparations containing cocoa, in blocks, slabs or bars > 2 kg or in liquid, paste, powder, g ranular or other bulk form, in containers or immediate packings of a content > 2 kg, containing . .18 % by weight of
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
-
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
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