Price for Sugar Confectionery; (Excluding Chewing Gum, Including White Chocolate), Not Containing Cocoa in Latvia - 2023

Contents:

1. Price for Sugar Confectionery; (Excluding Chewing Gum, Including White Chocolate), Not Containing Cocoa in Latvia (CIF) - 2023
2. Price for Sugar Confectionery; (Excluding Chewing Gum, Including White Chocolate), Not Containing Cocoa in Latvia (FOB) - 2023
3. Imports of Sugar Confectionery; (Excluding Chewing Gum, Including White Chocolate), Not Containing Cocoa in Latvia
4. Exports of Sugar Confectionery; (Excluding Chewing Gum, Including White Chocolate), Not Containing Cocoa in Latvia

Price for Sugar Confectionery; (Excluding Chewing Gum, Including White Chocolate), Not Containing Cocoa in Latvia (CIF) - 2023

The average import price for sugar confectionery; (excluding chewing gum, including white chocolate), not containing cocoa stood at $5,364 per ton in October 2023, with an increase of 2.1% against the previous month. Over the period from October 2022 to October 2023, it increased at an average monthly rate of +1.7%. The pace of growth was the most pronounced in April 2023 an increase of 10% against the previous month. The import price peaked at $5,560 per ton in July 2023; however, from August 2023 to October 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In October 2023, the country with the highest price was the Netherlands ($8,433 per ton), while the price for Ukraine ($2,329 per ton) was amongst the lowest.

From October 2022 to October 2023, the most notable rate of growth in terms of prices was attained by the Czech Republic (+3.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Sugar Confectionery; (Excluding Chewing Gum, Including White Chocolate), Not Containing Cocoa in Latvia (FOB) - 2023

The average export price for sugar confectionery; (excluding chewing gum, including white chocolate), not containing cocoa stood at $4,704 per ton in October 2023, remaining relatively unchanged against the previous month. Over the last twelve months, it increased at an average monthly rate of +1.9%. The pace of growth appeared the most rapid in December 2022 an increase of 13% against the previous month. Over the period under review, the average export prices hit record highs in October 2023.

Prices varied noticeably by the country of destination: the country with the highest price was Georgia ($8,059 per ton), while the average price for exports to Finland ($3,349 per ton) was amongst the lowest.

From October 2022 to October 2023, the most notable rate of growth in terms of prices was recorded for supplies to the Czech Republic (+6.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Sugar Confectionery; (Excluding Chewing Gum, Including White Chocolate), Not Containing Cocoa in Latvia

Imports of sugar confectionery; (excluding chewing gum, including white chocolate), not containing cocoa into Latvia rose significantly to 8.3K tons in 2022, surging by 7.2% compared with 2021 figures. The total import volume increased at an average annual rate of +4.0% over the period from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of sugar confectionery; (excluding chewing gum, including white chocolate), not containing cocoa expanded notably to $34M in 2022. The total import value increased at an average annual rate of +6.8% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 12%. Over the period under review, imports of hit record highs in 2022 and are likely to continue growth in years to come.

Top Suppliers of Sugar Confectionery; (Excluding Chewing Gum, Including White Chocolate), Not Containing Cocoa to Latvia in 2022:

1. Lithuania (1939.0 tons)
2. Poland (1168.7 tons)
3. Germany (1081.2 tons)
4. Estonia (947.4 tons)
5. Czech Republic (673.0 tons)
6. Ukraine (601.5 tons)
7. Spain (429.2 tons)
8. Netherlands (267.1 tons)
9. Belgium (258.3 tons)
10. Russia (250.1 tons)
11. Finland (118.7 tons)

Exports of Sugar Confectionery; (Excluding Chewing Gum, Including White Chocolate), Not Containing Cocoa in Latvia

In 2022, approx. 4.3K tons of sugar confectionery; (excluding chewing gum, including white chocolate), not containing cocoa were exported from Latvia; approximately equating the year before. The total export volume increased at an average annual rate of +1.8% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 14%. As a result, the exports attained the peak of 4.3K tons, leveling off in the following year.

In value terms, exports of sugar confectionery; (excluding chewing gum, including white chocolate), not containing cocoa reached $14M in 2022. The total export value increased at an average annual rate of +10.0% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when exports increased by 22% against the previous year. Over the period under review, the exports of attained the maximum in 2022 and are expected to retain growth in the immediate term.

Top Export Markets for Sugar Confectionery; (Excluding Chewing Gum, Including White Chocolate), Not Containing Cocoa from Latvia in 2022:

1. Lithuania (1806.6 tons)
2. Estonia (1025.8 tons)
3. Finland (614.7 tons)
4. Russia (141.0 tons)
5. Poland (122.9 tons)
6. Germany (104.6 tons)
7. Sweden (65.1 tons)

Source: IndexBox Market Intelligence Platform