How to get last created product id?

Question

I have overridden the Mage_ImportExport_Model_Import_Entity_Abstract class and in the function _saveValidatedBunches() I want to get the last created product Id. I've tried the following, but it returns null.

$collection = Mage::getModel('catalog/product')->getCollection();
$latestItemId = $collection->getLastItem()->getId();