Report Update Apr 1, 2024

Latvia - Ground-Nut - Market Analysis, Forecast, Size, Trends and Insights

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Latvia: Groundnuts Market 2024

Groundnuts Market Size in Latvia

In 2022, the Latvian groundnuts market increased by X% to $X, rising for the fifth year in a row after two years of decline. In general, consumption continues to indicate a noticeable decrease. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Groundnuts consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Groundnuts Production in Latvia

In value terms, groundnuts production stood at $X in 2022 estimated in export price. In general, production continues to indicate a perceptible contraction. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Groundnuts production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

The average yield of ground-nut (in-shell) in Latvia stood at less than X kg per ha in 2022, remaining relatively unchanged against 2021 figures. In general, the yield saw a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. less than X ha of ground-nut (in-shell) were harvested in Latvia; remaining relatively unchanged against 2021 figures. Over the period under review, the harvested area continues to indicate a relatively flat trend pattern.

Groundnuts Exports

Exports from Latvia

Groundnuts exports from Latvia declined markedly to X tons in 2022, dropping by X% against the previous year. Overall, exports, however, recorded strong growth. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, groundnuts exports contracted markedly to $X in 2022. In general, exports, however, enjoyed a prominent expansion. The pace of growth was the most pronounced in 2017 when exports increased by X%. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Estonia (X tons) was the main destination for groundnuts exports from Latvia, accounting for a approx. X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Estonia totaled X%.

In value terms, Estonia ($X) also remains the key foreign market for ground-nut (in-shell) exports from Latvia.

From 2012 to 2022, the average annual rate of growth in terms of value to Estonia totaled X%.

Export Prices by Country

In 2022, the average groundnuts export price amounted to $X per ton, rising by X% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the average export price increased by X%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Estonia.

From 2012 to 2022, the rate of growth in terms of prices for Poland amounted to X% per year.

Groundnuts Imports

Imports into Latvia

In 2022, imports of ground-nut (in-shell) into Latvia shrank significantly to X tons, with a decrease of X% against the previous year. Over the period under review, imports continue to indicate a abrupt contraction. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, groundnuts imports contracted rapidly to $X in 2022. In general, imports showed a abrupt contraction. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Uzbekistan (X tons) was the main supplier of groundnuts to Latvia, with a X% share of total imports. Moreover, groundnuts imports from Uzbekistan exceeded the figures recorded by the second-largest supplier, Lithuania (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Uzbekistan stood at X%.

In value terms, Uzbekistan ($X) constituted the largest supplier of ground-nut (in-shell) to Latvia, comprising X% of total imports. The second position in the ranking was held by Lithuania ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Uzbekistan stood at X%.

Import Prices by Country

In 2022, the average groundnuts import price amounted to $X per ton, picking up by X% against the previous year. Over the period under review, the import price, however, continues to indicate a pronounced decrease. The pace of growth was the most pronounced in 2017 when the average import price increased by X%. The import price peaked at $X per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Lithuania ($X per ton), while the price for Uzbekistan amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for ground-nut (in-shell) in the world?

The countries with the highest volumes of consumption in 2023 were China, India and Nigeria, together comprising 61% of global consumption. The United States, Sudan, Senegal, Myanmar, Argentina, Guinea and Chad lagged somewhat behind, together accounting for a further 22%.

What are the largest producers of ground-nut (in-shell) in the world?

The countries with the highest volumes of production in 2022 were China, India and Nigeria, together accounting for 61% of global production. The United States, Sudan, Senegal, Myanmar, Argentina, Guinea and Chad lagged somewhat behind, together accounting for a further 22%.

What are the leading suppliers of ground-nut (in-shell) to Latvia?

In value terms, Uzbekistan constituted the largest supplier of ground-nut in-shell) to Latvia, comprising 93% of total imports. The second position in the ranking was held by Lithuania, with a 5.4% share of total imports.

What are the leading importers of ground-nut (in-shell) from Latvia?

In value terms, Estonia remains the key foreign market for ground-nut in-shell) exports from Latvia.

What is the average export price for ground-nut (in-shell) in Latvia?

In 2022, the average groundnuts export price amounted to $1,793 per ton, picking up by 3.9% against the previous year.

What is the average import price for ground-nut (in-shell) in Latvia?

In 2022, the average groundnuts import price amounted to $1,524 per ton, surging by 5.6% against the previous year.

This report provides an in-depth analysis of the groundnuts market in Latvia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 242 - Groundnuts, in shell

Country coverage:

Latvia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Latvia
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. COUNTRIES WITH TOP YIELDS
4. TOP EXPORTING COUNTRIES
5. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Yield And Growth
16. Exports And Growth
17. Export Prices And Growth
18. Market Size And Growth
19. Per Capita Consumption
20. Imports And Growth
21. Import Prices
22. Production, In Physical Terms, 2012–2023
23. Production, In Value Terms, 2012–2023
24. Area Harvested, 2012–2023
25. Yield, 2012–2023
26. Imports, In Physical Terms, 2012–2023
27. Imports, In Value Terms, 2012–2023
28. Imports, In Physical Terms, By Country, 2023
29. Imports, In Physical Terms, By Country, 2012–2023
30. Imports, In Value Terms, By Country, 2012–2023
31. Import Prices, By Country Of Origin, 2012–2023
32. Exports, In Physical Terms, 2012–2023
33. Exports, In Value Terms, 2012–2023
34. Exports, In Physical Terms, By Country, 2023
35. Exports, In Physical Terms, By Country, 2012–2023
36. Exports, In Value Terms, By Country, 2012–2023
37. Export Prices, By Country Of Destination, 2012–2023