Stable with slight increase due to demand for plant-based proteins
Special Rates
Preferential Rate
0%
Applicable under the EU-US Trade Agreement if goods meet rules of origin requirements.
Additional Information
No additional information available.
Last updated: 1 year ago
News and Updates
Recent News
Increased Demand for Lima Beans in Latvia Boosts US Exports
Latvia has seen a surge in demand for Lima beans, leading to a 20% increase in imports from the United States this season. This is attributed to changing dietary preferences and a growing interest in plant-based proteins.
November 15, 2023
Impact: Positive impact on US exporters, with potential for sustained growth in trade volume if demand continues.
US-Latvia Trade Talks Highlight Lima Bean Market Opportunities
Recent bilateral trade discussions between the US and Latvia included a focus on agricultural products, with Lima beans identified as a key export item for the US due to favorable growing conditions and competitive pricing.
January 10, 2024
Impact: Encourages long-term trade agreements, potentially increasing export quotas for US Lima bean producers.
Logistics Challenges Impact Lima Bean Shipments to Latvia
Winter weather and port delays have slowed down Lima bean shipments from the US to Latvia, causing temporary supply shortages in the Latvian market.
March 5, 2024
Impact: Short-term negative impact on trade flow, with potential price increases for Lima beans in Latvia until logistics stabilize.
Policy Updates
New US-Latvia Agricultural Trade Agreement
A new trade agreement reduces tariffs on certain US agricultural exports, including Lima beans (HS Code: 0713.40), to Latvia by 5%, effective from January 1, 2024, to promote bilateral trade.
Date: December 1, 2023
Latvia Updates Import Standards for Legumes
Latvia has implemented stricter quality control measures for imported legumes, including Lima beans, requiring additional certification for pesticide residue levels to ensure consumer safety.
