Latvia: Shelled Hazelnut Market 2024

Shelled Hazelnut Market Size in Latvia

The Latvian shelled hazelnut market dropped dramatically to $X in 2023, which is down by X% against the previous year. Overall, consumption saw a deep contraction. Shelled hazelnut consumption peaked at $X in 2014; however, from 2015 to 2023, consumption stood at a somewhat lower figure.

Shelled Hazelnut Production in Latvia

In value terms, shelled hazelnut production contracted rapidly to $X in 2023 estimated in export price. In general, production saw a noticeable decrease. The most prominent rate of growth was recorded in 2019 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2013; however, from 2014 to 2023, production stood at a somewhat lower figure.

Shelled Hazelnut Exports

Exports from Latvia

In 2023, overseas shipments of shelled hazelnuts increased by X% to X tons, rising for the second consecutive year after three years of decline. Overall, exports posted a buoyant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, shelled hazelnut exports skyrocketed to $X in 2023. In general, exports continue to indicate strong growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Poland (X tons), Estonia (X tons) and Slovakia (X tons) were the main destinations of shelled hazelnut exports from Latvia, with a combined X% share of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Estonia (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for shelled hazelnut exported from Latvia were Estonia ($X), Poland ($X) and Slovakia ($X), together accounting for X% of total exports.

Estonia, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the average shelled hazelnut export price amounted to $X per ton, surging by X% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2023, the export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2023, amid the top suppliers, the countries with the highest prices were Estonia ($X per ton) and Lithuania ($X per ton), while the average price for exports to Poland ($X per ton) and Slovakia ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Lithuania (X%), while the prices for the other major destinations experienced more modest paces of growth.

Shelled Hazelnut Imports

Imports into Latvia

In 2023, purchases abroad of shelled hazelnuts increased by X% to X tons, rising for the third consecutive year after two years of decline. Overall, imports, however, continue to indicate a mild descent. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2023, imports failed to regain momentum.

In value terms, shelled hazelnut imports surged to $X in 2023. In general, imports, however, recorded a slight contraction. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2023, the growth of imports failed to regain momentum.

Imports by Country

In 2023, Azerbaijan (X tons) constituted the largest shelled hazelnut supplier to Latvia, accounting for a X% share of total imports. Moreover, shelled hazelnut imports from Azerbaijan exceeded the figures recorded by the second-largest supplier, Lithuania (X tons), fivefold. Turkey (X tons) ranked third in terms of total imports with an X% share.

From 2012 to 2023, the average annual growth rate of volume from Azerbaijan stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Lithuania (X% per year) and Turkey (X% per year).

In value terms, Azerbaijan ($X) constituted the largest supplier of shelled hazelnuts to Latvia, comprising X% of total imports. The second position in the ranking was held by Lithuania ($X), with an X% share of total imports. It was followed by Turkey, with a X% share.

From 2012 to 2023, the average annual growth rate of value from Azerbaijan totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Lithuania (X% per year) and Turkey (X% per year).

Import Prices by Country

The average shelled hazelnut import price stood at $X per ton in 2023, rising by X% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average import price increased by X%. Over the period under review, average import prices hit record highs at $X per ton in 2015; however, from 2016 to 2023, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2023, amid the top importers, the highest price was recorded for prices from Germany ($X per ton) and Poland ($X per ton), while the price for Azerbaijan ($X per ton) and Turkey ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Turkey (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform