Brown Rice Price in Latvia - 2023

Contents:

1. Brown Rice Price in Latvia (CIF) - 2022
2. Brown Rice Price in Latvia (FOB) - 2022
3. Brown Rice Imports in Latvia
4. Brown Rice Exports in Latvia

Brown Rice Price in Latvia (CIF) - 2022

In 2022, the average brown rice import price amounted to $961 per ton, surging by 5.2% against the previous year. Over the last decade, it increased at an average annual rate of +1.8%. The pace of growth was the most pronounced in 2014 an increase of 18% against the previous year. As a result, import price attained the peak level of $1,011 per ton. From 2015 to 2022, the average 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 Germany ($1,804 per ton), while the price for Bulgaria ($584 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+13.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Brown Rice Price in Latvia (FOB) - 2022

The average brown rice export price stood at $1,344 per ton in 2022, reducing by -2.5% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the average export price increased by 74%. The export price peaked at $2,626 per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Lithuania ($1,755 per ton), while the average price for exports to Estonia amounted to $1,232 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Lithuania (+3.2%).

Brown Rice Imports in Latvia

In 2022, approx. 270 tons of husked (brown) rice were imported into Latvia; with a decrease of -39.1% on 2021 figures. Overall, imports saw a drastic downturn. The most prominent rate of growth was recorded in 2021 with an increase of 0.9% against the previous year.

In value terms, brown rice imports dropped markedly to $260K in 2022. Over the period under review, imports continue to indicate a deep reduction. The most prominent rate of growth was recorded in 2020 when imports increased by 2.5% against the previous year.

Top Suppliers of Brown Rice to Latvia in 2022:

1. Lithuania (112.7 tons)
2. Paraguay (50.0 tons)
3. Italy (35.4 tons)
4. Poland (26.1 tons)
5. Bulgaria (23.0 tons)
6. Estonia (10.9 tons)
7. Germany (9.4 tons)
8. India (2.1 tons)

Brown Rice Exports in Latvia

In 2022, overseas shipments of husked (brown) rice decreased by -28.3% to 51 tons for the first time since 2018, thus ending a three-year rising trend. Overall, exports, however, posted strong growth. The most prominent rate of growth was recorded in 2021 with an increase of 48% against the previous year. As a result, the exports reached the peak of 71 tons, and then dropped notably in the following year.

In value terms, brown rice exports fell rapidly to $69K in 2022. In general, total exports indicated a slight expansion from 2019 to 2022: its value increased at an average annual rate of +1.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 39%. As a result, the exports attained the peak of $98K, and then fell rapidly in the following year.

Top Export Markets for Brown Rice from Latvia in 2022:

1. Estonia (39.2 tons)
2. Lithuania (10.7 tons)
3. Ireland (0.6 tons)

Source: IndexBox Market Intelligence Platform