Price for Spices; Cardamoms, Crushed or Ground in Latvia - 2023
Contents:
- Price for Spices; Cardamoms, Crushed or Ground in Latvia (FOB) - 2022
- Price for Spices; Cardamoms, Crushed or Ground in Latvia (CIF) - 2022
- Exports of Spices; Cardamoms, Crushed or Ground in Latvia
- Imports of Spices; Cardamoms, Crushed or Ground in Latvia
Price for Spices; Cardamoms, Crushed or Ground in Latvia (FOB) - 2022
In 2022, the average export price for spices; cardamoms, crushed or ground amounted to $16,307 per ton, falling by -19.4% against the previous year. Over the period under review, the export price saw a pronounced downturn. The pace of growth was the most pronounced in 2018 an increase of 40%. As a result, the export price reached the peak level of $36,288 per ton. From 2019 to 2022, the average export prices failed to regain momentum.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Lithuania ($47,110 per ton), while the average price for exports to the United States ($14,390 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 Lithuania (+8.8%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Spices; Cardamoms, Crushed or Ground in Latvia (CIF) - 2022
In 2022, the average import price for spices; cardamoms, crushed or ground amounted to $13,428 per ton, waning by -25.6% against the previous year. Over the period under review, the import price continues to indicate a perceptible decline. The most prominent rate of growth was recorded in 2015 an increase of 159%. Over the period under review, average import prices reached the maximum at $31,838 per ton in 2019; however, from 2020 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 Estonia ($54,750 per ton), while the price for Germany ($11,684 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lithuania (+8.8%), while the prices for the other major suppliers experienced a decline.
Exports of Spices; Cardamoms, Crushed or Ground in Latvia
For the fourth consecutive year, Latvia recorded growth in overseas shipments of spices; cardamoms, crushed or ground, which increased by 12% to 11 tons in 2022. Overall, exports posted significant growth. The pace of growth appeared the most rapid in 2020 with an increase of 790% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to see steady growth in the immediate term.
In value terms, spices; cardamoms, crushed or ground exports dropped to $174K in 2022. Over the period under review, exports saw a significant increase. The pace of growth appeared the most rapid in 2020 with an increase of 624%.
| Export of Spices; Cardamoms, Crushed or Ground in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Romania | N/A | 53.8 | 55.5 | 64.0 | 9.1% |
| Poland | N/A | 26.7 | 58.4 | 48.0 | 34.1% |
| Czech Republic | N/A | 1.4 | 20.8 | 17.7 | 255.6% |
| Estonia | 8.4 | 16.5 | 19.4 | 14.0 | 18.6% |
| United States | N/A | N/A | N/A | 10.1 | 0% |
| Germany | N/A | N/A | 11.3 | 8.2 | -27.4% |
| Hungary | N/A | 0.4 | 2.8 | 6.4 | 300.0% |
| Lithuania | 4.5 | 12.2 | 9.2 | 3.9 | -4.7% |
| Bulgaria | 4.7 | 17.4 | 16.2 | 2.2 | -22.4% |
| Others | 0.2 | 0.1 | 0.1 | N/A | -29.3% |
| Total | 17.7 | 129 | 194 | 174 | 114.2% |
Top Export Markets for Spices; Cardamoms, Crushed or Ground from Latvia in 2022:
- Romania (4.2 tons)
- Poland (3.1 tons)
- Czech Republic (1.2 tons)
- United States (0.7 tons)
- Estonia (0.5 tons)
- Germany (0.5 tons)
- Hungary (0.4 tons)
- Lithuania (0.1 tons)
- Bulgaria (0.1 tons)
Imports of Spices; Cardamoms, Crushed or Ground in Latvia
In 2022, after three years of growth, there was significant decline in purchases abroad of spices; cardamoms, crushed or ground, when their volume decreased by -20.2% to 9.2 tons. In general, imports, however, saw significant growth. The growth pace was the most rapid in 2020 with an increase of 1,279%.
In value terms, spices; cardamoms, crushed or ground imports reduced dramatically to $124K in 2022. Over the period under review, imports, however, showed a significant increase. The most prominent rate of growth was recorded in 2020 when imports increased by 1,035%. As a result, imports reached the peak of $270K. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
| Import of Spices; Cardamoms, Crushed or Ground in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 4.3 | 123 | 114 | 51.7 | 129.1% |
| Poland | 2.5 | 77.6 | 63.4 | 50.4 | 172.2% |
| Estonia | 15.8 | 20.9 | 27.6 | 16.4 | 1.3% |
| Netherlands | N/A | 46.8 | N/A | 4.2 | -70.0% |
| Others | 1.2 | 1.6 | 3.6 | 1.1 | -2.9% |
| Total | 23.8 | 270 | 208 | 124 | 73.4% |
Top Suppliers of Spices; Cardamoms, Crushed or Ground to Latvia in 2022:
- Germany (4.4 tons)
- Poland (4.2 tons)
- Estonia (0.3 tons)
- Netherlands (0.2 tons)
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This report provides an in-depth analysis of the market for nutmeg, mace and cardamom in Latvia.
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This report provides an in-depth analysis of the global market for nutmeg, mace and cardamom.
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This report provides an in-depth analysis of the market for nutmeg, mace and cardamom in Latvia.
4072
This report provides an in-depth analysis of the global market for nutmeg, mace and cardamom.
3857
In 2016, the nutmeg, mace and cardamom market peaked at X tons. Over the period from 2007 to 2016, consumption expanded with an annual average rate of growth of +X%. Following a slight decline in consumption from 2009-2010, the nutmeg, mace and
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Guatemala continued its dominance in the global trade of nutmeg, mace and cardamom. In 2014, Guatemala exported X thousand tons of nutmeg, mace and cardamoms totaling X USD, X% over the previous year. Its primary trading partner was Saudi Arabia,
3857
In 2016, the nutmeg, mace and cardamom market peaked at X tons. Over the period from 2007 to 2016, consumption expanded with an annual average rate of growth of +X%. Following a slight decline in consumption from 2009-2010, the nutmeg, mace and
8548
In 2015, the countries with the highest levels of production in 2015 were Guatemala (X thousand tons), Indonesia (X thousand tons), India (X thousand tons), together accounting for X% of total output.
3982
Guatemala continued its dominance in the global trade of nutmeg, mace and cardamom. In 2014, Guatemala exported X thousand tons of nutmeg, mace and cardamoms totaling X USD, X% over the previous year. Its primary trading partner was Saudi Arabia,
