Price for Spices; Mace, Crushed or Ground in Belgium - 2023

Contents:

1. Price for Spices; Mace, Crushed or Ground in Belgium (CIF) - 2023
2. Price for Spices; Mace, Crushed or Ground in Belgium (FOB) - 2023
3. Imports of Spices; Mace, Crushed or Ground in Belgium
4. Exports of Spices; Mace, Crushed or Ground in Belgium

Price for Spices; Mace, Crushed or Ground in Belgium (CIF) - 2023

In July 2023, the average import price for spices; mace, crushed or ground amounted to $21,281 per ton, growing by 14% against the previous month. In general, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in June 2023 when the average import price increased by 540% m-o-m. Over the period under review, average import prices attained the maximum at $21,720 per ton in September 2022; however, from October 2022 to July 2023, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In July 2023, the country with the highest price was Germany ($26,104 per ton), while the price for the UK ($18,201 per ton) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Germany (+1.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Spices; Mace, Crushed or Ground in Belgium (FOB) - 2023

In July 2023, the average export price for spices; mace, crushed or ground amounted to $24,558 per ton, growing by 8.1% against the previous month. Over the last twelve months, it increased at an average monthly rate of +1.1%. The most prominent rate of growth was recorded in May 2023 when the average export price increased by 23% against the previous month. As a result, the export price attained the peak level of $27,268 per ton. From June 2023 to July 2023, the the average export prices remained at a lower figure.

Prices varied noticeably by the country of destination: the country with the highest price was the Netherlands ($26,462 per ton), while the average price for exports to France stood at $11,339 per ton.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to France (+3.4%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Spices; Mace, Crushed or Ground in Belgium

After three years of growth, purchases abroad of spices; mace, crushed or ground decreased by -36.6% to 98 tons in 2022. Over the period under review, imports continue to indicate a slight descent. The pace of growth appeared the most rapid in 2021 when imports increased by 48% against the previous year. As a result, imports attained the peak of 154 tons, and then declined markedly in the following year.

In value terms, spices; mace, crushed or ground imports reduced rapidly to $2.1M in 2022. Overall, imports, however, continue to indicate a buoyant expansion. The growth pace was the most rapid in 2021 when imports increased by 60%. As a result, imports attained the peak of $3.2M, and then contracted dramatically in the following year.

Top Suppliers of Spices; Mace, Crushed or Ground to Belgium in 2022:

1. Netherlands (80.8 tons)
2. Indonesia (12.2 tons)
3. Germany (4.3 tons)

Exports of Spices; Mace, Crushed or Ground in Belgium

In 2022, spices; mace, crushed or ground exports from Belgium was estimated at 47 tons, growing by 4.6% on the year before. The total export volume increased at an average annual rate of +10.5% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when exports increased by 43%. As a result, the exports attained the peak of 50 tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, spices; mace, crushed or ground exports rose markedly to $1.1M in 2022. Overall, total exports indicated significant growth from 2019 to 2022: its value increased at an average annual rate of +27.2% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +106.0% against 2019 indices. The growth pace was the most rapid in 2020 when exports increased by 84% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the near future.

Top Export Markets for Spices; Mace, Crushed or Ground from Belgium in 2022:

1. Netherlands (35.8 tons)
2. Germany (5.9 tons)
3. France (2.6 tons)
4. United Kingdom (2.2 tons)

Source: IndexBox Market Intelligence Platform