Potato Market Overview in Latvia
In value terms, potato production expanded rapidly to $ in 2019 estimated in export prices. Overall, production showed a pronounced shrinkage. Over the period under review, production attained the maximum level at $ in 2007; however, from 2008 to 2019, production remained at a lower figure.
In 2019, the average potato yield in Latvia expanded modestly to tonnes per ha, increasing by % on the previous year's figure. The yield figure increased at an average annual rate of +% over the period from 2007 to 2019; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2012 with an increase of % year-to-year. The potato yield peaked at tonnes per ha in 2016; however, from 2017 to 2019, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.
In 2019, approx. ha of potatoes were harvested in Latvia; which is down by -% compared with 2018. Overall, the harvested area showed a abrupt setback. The growth pace was the most rapid in 2018 with an increase of % year-to-year. Over the period under review, the harvested area dedicated to potato production reached the peak figure at ha in 2007; however, from 2008 to 2019, the harvested area remained at a lower figure.
The revenue of the potato market in Latvia stood at $ in 2019, increasing by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption saw a perceptible descent. The growth pace was the most rapid in 2013 with an increase of % year-to-year. Potato consumption peaked at $ in 2007; however, from 2008 to 2019, consumption stood at a somewhat lower figure.