Nitrites; Nitrates Price in Latvia - 2023
Contents:
- Nitrites; Nitrates Price in Latvia (CIF) - 2022
- Nitrites; Nitrates Price in Latvia (FOB) - 2022
- Nitrites; Nitrates Imports in Latvia
- Nitrites; Nitrates Exports in Latvia
Nitrites; Nitrates Price in Latvia (CIF) - 2022
In 2022, the average nitrites; nitrates import price amounted to $1,162 per ton, surging by 27% against the previous year. Overall, import price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 when the average import price increased by 62%. As a result, import price attained the peak level of $1,514 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 Finland ($2,745 per ton), while the price for Norway ($664 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Croatia (+19.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Nitrites; Nitrates Price in Latvia (FOB) - 2022
The average nitrites; nitrates export price stood at $1,053 per ton in 2022, surging by 26% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 459%. As a result, the export price reached the peak level of $1,083 per ton; afterwards, it flattened through to 2022.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Czech Republic ($1,659 per ton), while the average price for exports to Estonia ($428 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 Estonia (-1.9%), while the prices for the other major destinations experienced a decline.
Nitrites; Nitrates Imports in Latvia
In 2022, approx. 408 tons of nitrites; nitrateses were imported into Latvia; with an increase of 7.7% against the year before. The total import volume increased at an average annual rate of +7.7% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 9.2%. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in years to come.
In value terms, nitrites; nitrates imports skyrocketed to $474K in 2022. In general, total imports indicated strong growth from 2019 to 2022: its value increased at an average annual rate of +16.2% 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 +56.9% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Nitrites; Nitrates in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 68.5 | 124 | 176 | 168 | 34.9% |
| Norway | 21.9 | N/A | 53.9 | 109 | 70.7% |
| Belgium | N/A | 42.5 | N/A | 73.0 | 31.1% |
| Netherlands | 18.8 | 19.5 | 29.6 | 58.4 | 45.9% |
| Croatia | 8.0 | 14.2 | 14.9 | 30.0 | 55.4% |
| Poland | 10.0 | 9.7 | 17.6 | 21.1 | 28.3% |
| Lithuania | 12.6 | 24.4 | 7.8 | 10.7 | -5.3% |
| Spain | 54.3 | 35.5 | N/A | N/A | -34.6% |
| Russia | 107 | 116 | 43.1 | N/A | -36.5% |
| Others | 1.1 | 3.8 | 4.7 | 3.0 | 39.7% |
| Total | 302 | 390 | 348 | 474 | 16.2% |
Top Suppliers of Nitrites; Nitrates to Latvia in 2022:
- Norway (165.0 tons)
- Germany (92.2 tons)
- Netherlands (57.7 tons)
- Belgium (48.0 tons)
- Croatia (15.3 tons)
- Poland (15.2 tons)
- Lithuania (11.6 tons)
Nitrites; Nitrates Exports in Latvia
In 2022, overseas shipments of nitrites; nitrateses decreased by -33.9% to 28 tons, falling for the second consecutive year after two years of growth. Over the period under review, exports recorded a dramatic decline. The most prominent rate of growth was recorded in 2020 with an increase of 75% against the previous year. As a result, the exports reached the peak of 109 tons. From 2021 to 2022, the growth of the exports failed to regain momentum.
In value terms, nitrites; nitrates exports shrank sharply to $30K in 2022. In general, exports recorded a abrupt decrease. The most prominent rate of growth was recorded in 2020 with an increase of 72%. As a result, the exports attained the peak of $94K. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
| Export of Nitrites; Nitrates in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Czech Republic | N/A | N/A | N/A | 19.9 | 0% |
| Germany | 50.8 | 80.3 | 25.5 | 5.0 | -53.8% |
| Estonia | 1.2 | 3.4 | 8.2 | 2.5 | 27.7% |
| Lithuania | 2.3 | 10.2 | 0.6 | 1.4 | -15.3% |
| Others | 0.2 | 0.3 | 1.2 | 0.8 | 58.7% |
| Total | 54.6 | 94.1 | 35.4 | 29.6 | -18.5% |
Top Export Markets for Nitrites; Nitrates from Latvia in 2022:
- Czech Republic (12.0 tons)
- Germany (8.9 tons)
- Estonia (6.0 tons)
- Lithuania (1.1 tons)
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