Price for Spices; Mixtures of 2 or More Products of the Same Heading in the UK - 2023
Contents:
- Price for Spices; Mixtures of 2 or More Products of the Same Heading in the UK (CIF) - 2022
- Price for Spices; Mixtures of 2 or More Products of the Same Heading in the UK (FOB) - 2022
- Imports of Spices; Mixtures of 2 or More Products of the Same Heading in the UK
- Exports of Spices; Mixtures of 2 or More Products of the Same Heading in the UK
Price for Spices; Mixtures of 2 or More Products of the Same Heading in the UK (CIF) - 2022
The average import price for spices; mixtures of 2 or more products of the same heading stood at $3,608 per ton in 2022, waning by -15.7% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 34% against the previous year. Over the period under review, average import prices hit record highs at $4,320 per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was South Africa ($6,160 per ton), while the price for Uganda ($1,242 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (+4.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Spices; Mixtures of 2 or More Products of the Same Heading in the UK (FOB) - 2022
The average export price for spices; mixtures of 2 or more products of the same heading stood at $7,158 per ton in 2022, increasing by 4.7% against the previous year. Overall, export price indicated a strong increase from 2012 to 2022: its price increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for spices; mixtures of 2 or more products of the same heading increased by +76.6% against 2019 indices. The pace of growth appeared the most rapid in 2021 an increase of 41%. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ireland ($12,244 per ton), while the average price for exports to the United Arab Emirates ($3,258 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Norway (+9.0%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Spices; Mixtures of 2 or More Products of the Same Heading in the UK
For the fourth year in a row, the UK recorded growth in supplies from abroad of spices; mixtures of 2 or more products of the same heading, which increased by 13% to 12K tons in 2022. The total import volume increased at an average annual rate of +12.7% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 when imports increased by 17%. Imports peaked in 2022 and are likely to see gradual growth in years to come.
In value terms, imports of spices; mixtures of 2 or more products of the same heading fell slightly to $43M in 2022. The total import value increased at an average annual rate of +8.4% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 when imports increased by 24%.
| Import of Spices; Mixtures of 2 or More Products of the Same Heading in the UK (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 2.8 | 4.5 | 6.4 | 7.6 | 39.5% |
| Turkey | 3.2 | 3.1 | 3.3 | 3.7 | 5.0% |
| Egypt | 0.9 | 1.0 | 1.5 | 2.9 | 47.7% |
| Thailand | 3.0 | 2.3 | 3.6 | 2.8 | -2.3% |
| South Africa | 2.6 | 2.7 | 3.3 | 2.6 | 0.0% |
| Pakistan | 1.3 | 0.6 | 1.7 | 2.5 | 24.4% |
| Spain | 3.8 | 2.8 | 2.6 | 1.8 | -22.0% |
| Morocco | 0.6 | 1.1 | 2.1 | 1.7 | 41.5% |
| Kenya | 1.8 | 2.7 | 1.8 | 1.2 | -12.6% |
| Brazil | 0.1 | N/A | 0.8 | 1.0 | 115.4% |
| Dominican Republic | N/A | N/A | 0.1 | 0.9 | 800.0% |
| Mexico | N/A | 0.1 | 0.2 | 0.6 | 144.9% |
| Uganda | N/A | 0.3 | 0.6 | 0.5 | 29.1% |
| Others | 13.3 | 20.2 | 16.5 | 12.8 | -1.3% |
| Total | 33.4 | 41.5 | 44.6 | 42.5 | 8.4% |
Top Suppliers of Spices; Mixtures of 2 or More Products of the Same Heading to the UK in 2022:
- India (3346.0 tons)
- Egypt (1115.8 tons)
- Turkey (713.1 tons)
- Thailand (566.6 tons)
- Pakistan (478.4 tons)
- Morocco (447.6 tons)
- Spain (440.9 tons)
- South Africa (428.2 tons)
- Uganda (423.5 tons)
- Dominican Republic (388.5 tons)
- Brazil (368.5 tons)
- Mexico (264.7 tons)
- Kenya (262.7 tons)
Exports of Spices; Mixtures of 2 or More Products of the Same Heading in the UK
In 2022, shipments abroad of spices; mixtures of 2 or more products of the same heading decreased by -20.5% to 1.9K tons, falling for the second consecutive year after two years of growth. Overall, exports showed a precipitous slump. The pace of growth was the most pronounced in 2020 when exports increased by 4.6%. As a result, the exports reached the peak of 4.4K tons. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.
In value terms, exports of spices; mixtures of 2 or more products of the same heading fell rapidly to $14M in 2022. In general, exports showed a deep contraction. The pace of growth appeared the most rapid in 2020 with an increase of 25%. As a result, the exports reached the peak of $21M. From 2021 to 2022, the growth of the exports of failed to regain momentum.
| Export of Spices; Mixtures of 2 or More Products of the Same Heading in the UK (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 4.4 | 6.4 | 8.0 | 8.1 | 22.6% |
| Netherlands | 0.2 | 0.7 | 1.0 | 1.0 | 71.0% |
| Ireland | 1.9 | 2.4 | 1.4 | 0.9 | -22.0% |
| Canada | 0.4 | 0.5 | 0.8 | 0.4 | 0.0% |
| United Arab Emirates | 1.1 | 1.3 | 1.4 | 0.4 | -28.6% |
| Australia | 0.1 | 0.1 | 0.1 | 0.4 | 58.7% |
| Turkey | 0.2 | 0.4 | 0.5 | 0.2 | 0.0% |
| France | 0.7 | 0.5 | 0.5 | 0.2 | -34.1% |
| Germany | 0.4 | 1.2 | 0.1 | 0.2 | -20.6% |
| Norway | 5.4 | 4.3 | 0.2 | N/A | -80.8% |
| Others | 2.3 | 3.6 | 2.7 | 2.1 | -3.0% |
| Total | 17.1 | 21.4 | 16.6 | 13.8 | -6.9% |
Top Export Markets for Spices; Mixtures of 2 or More Products of the Same Heading from the UK in 2022:
- United States (1002.5 tons)
- Netherlands (225.2 tons)
- United Arab Emirates (111.8 tons)
- Ireland (72.3 tons)
- Canada (57.9 tons)
- Turkey (41.9 tons)
- Australia (40.6 tons)
- Germany (32.7 tons)
- France (30.9 tons)
- Norway (3.2 tons)
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