Price for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Latvia - 2023

Contents:

1. Price for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Latvia (CIF) - 2023
2. Price for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Latvia (FOB) - 2023
3. Imports of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Latvia
4. Exports of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Latvia

Price for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Latvia (CIF) - 2023

In October 2023, the average import price for liquid margarine and edible mixtures of animal or vegetable fats amounted to $3,570 per ton, increasing by 41% against the previous month. Over the period under review, import price indicated a mild expansion from October 2022 to October 2023: its price increased at an average monthly rate of +1.8% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on October 2023 figures, import price for liquid margarine and edible mixtures of animal or vegetable fats increased by +41.3% against September 2023 indices. The most prominent rate of growth was recorded in January 2023 when the average import price increased by 72% month-to-month. As a result, import price attained the peak level of $5,209 per ton. From February 2023 to October 2023, the average import prices failed to regain momentum.

Prices varied noticeably by the country of origin: the country with the highest price was Germany ($5,569 per ton), while the price for Estonia ($2,147 per ton) was amongst the lowest.

From October 2022 to October 2023, the most notable rate of growth in terms of prices was attained by Germany (+8.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Latvia (FOB) - 2023

In October 2023, the average export price for liquid margarine and edible mixtures of animal or vegetable fats amounted to $4,046 per ton, dropping by -10.2% against the previous month. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in December 2022 an increase of 91% against the previous month. Over the period under review, the average export prices hit record highs at $12,709 per ton in January 2023; however, from February 2023 to October 2023, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major external markets. In October 2023, the country with the highest price was Russia ($4,188 per ton), while the average price for exports to Lithuania ($3,331 per ton) was amongst the lowest.

From October 2022 to October 2023, the most notable rate of growth in terms of prices was recorded for supplies to Belarus (+3.1%), while the prices for the other major destinations experienced a decline.

Imports of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Latvia

Imports of liquid margarine and edible mixtures of animal or vegetable fats into Latvia skyrocketed to 2.8K tons in 2022, growing by 50% compared with 2021. Over the period under review, imports posted a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 69% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, imports of liquid margarine and edible mixtures of animal or vegetable fats surged to $5.7M in 2022. In general, imports showed a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Top Suppliers of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats to Latvia in 2022:

1. Russia (755.4 tons)
2. Lithuania (585.7 tons)
3. Belarus (328.0 tons)
4. Estonia (317.6 tons)
5. Sweden (272.9 tons)
6. Poland (199.9 tons)
7. Germany (169.1 tons)
8. Italy (86.3 tons)
9. Belgium (63.0 tons)
10. Netherlands (23.3 tons)

Exports of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Latvia

After three years of growth, shipments abroad of liquid margarine and edible mixtures of animal or vegetable fats decreased by -15.8% to 440 tons in 2022. Over the period under review, exports, however, recorded significant growth. The growth pace was the most rapid in 2021 with an increase of 279%. As a result, the exports reached the peak of 523 tons, and then declined remarkably in the following year.

In value terms, exports of liquid margarine and edible mixtures of animal or vegetable fats surged to $1.7M in 2022. In general, exports, however, posted significant growth. The pace of growth appeared the most rapid in 2021 with an increase of 156%. Over the period under review, the exports of attained the peak figure in 2022 and are likely to see steady growth in the near future.

Top Export Markets for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats from Latvia in 2022:

1. Lithuania (130.5 tons)
2. Russia (120.6 tons)
3. Belarus (89.4 tons)
4. Kazakhstan (75.6 tons)
5. Estonia (16.6 tons)

Source: IndexBox Market Intelligence Platform