Report Update: Apr 1, 2024

Latvia - Cocoa Butter - Market Analysis, Forecast, Size, Trends And Insights

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Cocoa Butter Price in Latvia - 2023

Cocoa Butter Price in Latvia (CIF) - 2023

The average cocoa butter import price stood at $7,155 per ton in September 2023, picking up by 85% against the previous month. Overall, import price indicated a noticeable expansion from September 2022 to September 2023: its price increased at an average monthly rate of +4.5% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on September 2023 figures, cocoa butter import price increased by +85.0% against August 2023 indices. The import price peaked at $7,775 per ton in March 2023; however, from April 2023 to September 2023, import prices stood at a somewhat lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was Finland ($17,101 per ton), while the price for Estonia ($5,679 per ton) was amongst the lowest.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Denmark (+2.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Cocoa Butter Price in Latvia (FOB) - 2022

In 2022, the average cocoa butter export price amounted to $5,324 per ton, which is down by -28% against the previous year. Over the last decade, it increased at an average annual rate of +1.3%. The growth pace was the most rapid in 2016 an increase of 28%. As a result, the export price reached the peak level of $7,598 per ton. From 2017 to 2022, the average export prices remained at a lower figure.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Uzbekistan ($6,082 per ton), while the average price for exports to Belarus stood at $4,762 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+5.3%), while the prices for the other major destinations experienced a decline.

Cocoa Butter Imports in Latvia

In 2022, cocoa butter imports into Latvia skyrocketed to 330 tons, picking up by 23% against the previous year. Over the period under review, imports, however, recorded a perceptible reduction. The pace of growth was the most pronounced in 2020 when imports increased by 128%. As a result, imports attained the peak of 814 tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, cocoa butter imports expanded rapidly to $1.6M in 2022. In general, imports, however, saw a drastic downturn. The pace of growth appeared the most rapid in 2020 when imports increased by 126% against the previous year. As a result, imports reached the peak of $4.6M. From 2021 to 2022, the growth of imports remained at a lower figure.

Import of Cocoa Butter in Latvia (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Netherlands	1,354	476	533	1,082	-7.2%
Lithuania	3.1	131	3.9	157	270.0%
Estonia	32.9	3,367	323	154	67.3%
Sweden	215	206	176	93.9	-24.1%
Denmark	N/A	32.9	24.7	40.6	11.1%
Indonesia	N/A	28.1	58.3	37.1	14.9%
Spain	113	83.4	61.9	2.4	-72.3%
Others	305	249	267	76.1	-37.0%
Total	2,023	4,574	1,448	1,642	-6.7%

Top Suppliers of Cocoa Butter to Latvia in 2022:

Netherlands (235.0 tons)
Estonia (29.7 tons)
Sweden (23.6 tons)
Lithuania (21.4 tons)
Denmark (7.0 tons)
Indonesia (5.5 tons)
Spain (0.4 tons)

Cocoa Butter Exports in Latvia

In 2022, after two years of decline, there was significant growth in shipments abroad of cocoa butter, when their volume increased by 873% to 154 tons. Over the period under review, exports saw a prominent increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, cocoa butter exports surged to $819K in 2022. In general, exports saw strong growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Export of Cocoa Butter in Latvia (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Belarus	691	134	N/A	438	-14.1%
Uzbekistan	0.8	N/A	1.3	365	669.8%
Germany	2.8	18.0	30.7	14.3	72.2%
Russia	N/A	150	44.7	N/A	-70.2%
Sweden	N/A	61.5	N/A	N/A	0%
Ukraine	N/A	N/A	40.0	N/A	0%
Others	N/A	0.8	0.3	1.3	27.5%
Total	695	364	117	819	5.6%

Top Export Markets for Cocoa Butter from Latvia in 2022:

Belarus (92.0 tons)
Uzbekistan (60.1 tons)
Germany (1.7 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the cocoa butter 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 664 - Cocoa Butter

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. TOP EXPORTING COUNTRIES
4. 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 VOLUME AND VALUE
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. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023