Price for Flours and Meals; of Soya Beans in Lithuania - 2023

Price for Flours and Meals; of Soya Beans in Lithuania (CIF) - 2022

The average import price for flours and meals; of soya beanses stood at $859 per ton in 2022, picking up by 21% against the previous year. Overall, the import price showed a moderate expansion. The pace of growth appeared the most rapid in 2013 an increase of 84% against the previous year. As a result, import price reached the peak level of $1,054 per ton. From 2014 to 2022, the average 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 Latvia ($1,297 per ton), while the price for Germany ($850 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 (+24.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Flours and Meals; of Soya Beans in Lithuania (FOB) - 2022

The average export price for flours and meals; of soya beanses stood at $2,177 per ton in 2022, growing by 42% against the previous year. Overall, the export price saw a strong increase. The growth pace was the most rapid in 2014 when the average export price increased by 289% against the previous year. The export price peaked in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Estonia ($2,950 per ton), while the average price for exports to Latvia totaled $773 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Estonia (+9.1%).

Imports of Flours and Meals; of Soya Beans in Lithuania

In 2022, after three years of growth, there was decline in overseas purchases of flours and meals; of soya beanses, when their volume decreased by -4.9% to 606 tons. The total import volume increased at an average annual rate of +12.0% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by 25%.

In value terms, imports of flours and meals; of soya beanses rose sharply to $521K in 2022. Over the period under review, imports, however, showed a significant increase. The pace of growth appeared the most rapid in 2021 when imports increased by 37% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the near future.

Import of Flours and Meals; of Soya Beans in Lithuania (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Germany	179	276	316	471	38.1%
Poland	55.7	53.6	112	45.8	-6.3%
Latvia	6.7	N/A	26.4	4.1	-15.1%
Netherlands	26.2	N/A	0.2	N/A	-91.3%
Others	0.8	1.1	N/A	N/A	37.5%
Total	269	331	454	521	24.7%

Top Suppliers of Flours and Meals; of Soya Beans to Lithuania in 2022:

Germany (553.9 tons)
Poland (49.2 tons)
Latvia (3.1 tons)

Exports of Flours and Meals; of Soya Beans in Lithuania

In 2022, shipments abroad of flours and meals; of soya beanses decreased by -40.7% to 124 kg, falling for the second consecutive year after two years of growth. Over the period under review, exports recorded a significant decrease. The most prominent rate of growth was recorded in 2020 when exports increased by 46% against the previous year. As a result, the exports reached the peak of 26 tons. From 2021 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of flours and meals; of soya beanses reduced markedly to $270 in 2022. In general, exports continue to indicate a sharp curtailment. The growth pace was the most rapid in 2020 when exports increased by 43% against the previous year. As a result, the exports attained the peak of $11K. From 2021 to 2022, the growth of the exports of failed to regain momentum.