Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Belgium - 2023
Contents:
- Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Belgium (CIF) - 2022
- Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Belgium (FOB) - 2022
- Imports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Belgium
- Exports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Belgium
Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Belgium (CIF) - 2022
In 2022, the average import price for spices; cinnamon and cinnamon-tree flowers, crushed or ground amounted to $8,061 per ton, remaining relatively unchanged against the previous year. Over the period under review, the import price, however, enjoyed a resilient increase. The pace of growth appeared the most rapid in 2021 an increase of 44% against the previous year. As a result, import price attained the peak level of $8,109 per ton, leveling off in the following year.
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 Indonesia ($10,447 per ton), while the price for Finland ($2,546 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+23.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Belgium (FOB) - 2022
In 2022, the average export price for spices; cinnamon and cinnamon-tree flowers, crushed or ground amounted to $8,416 per ton, declining by -19.8% against the previous year. Over the period under review, the export price, however, continues to indicate resilient growth. The most prominent rate of growth was recorded in 2017 an increase of 45%. Over the period under review, the average export prices hit record highs at $10,710 per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($15,360 per ton), while the average price for exports to the UK ($5,387 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 South Korea (+18.9%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Belgium
In 2022, approx. 303 tons of spices; cinnamon and cinnamon-tree flowers, crushed or ground were imported into Belgium; with an increase of 7.6% against the year before. The total import volume increased at an average annual rate of +1.3% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2020 when imports increased by 19%. As a result, imports reached the peak of 347 tons. From 2021 to 2022, the growth of imports of failed to regain momentum.
In value terms, imports of spices; cinnamon and cinnamon-tree flowers, crushed or ground expanded markedly to $2.4M in 2022. The total import value increased at an average annual rate of +14.3% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 with an increase of 19% against the previous year. Over the period under review, imports of reached the peak figure in 2022 and are expected to retain growth in the near future.
| Import of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Belgium (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 1,341 | 1,533 | 1,541 | 1,833 | 11.0% |
| Germany | 85.6 | 68.8 | 398 | 303 | 52.4% |
| France | 93.7 | 137 | 132 | 89.8 | -1.4% |
| Spain | 26.4 | 52.4 | 39.8 | 31.0 | 5.5% |
| Finland | N/A | N/A | N/A | 13.0 | 0% |
| Others | 87.1 | 158 | 172 | 170 | 25.0% |
| Total | 1,634 | 1,950 | 2,282 | 2,440 | 14.3% |
Top Suppliers of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground to Belgium in 2022:
- Netherlands (224.4 tons)
- Germany (42.0 tons)
- France (10.1 tons)
- Spain (5.8 tons)
- Finland (5.1 tons)
Exports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Belgium
In 2022, approx. 150 tons of spices; cinnamon and cinnamon-tree flowers, crushed or ground were exported from Belgium; growing by 14% compared with 2021 figures. Overall, exports posted a strong increase. The pace of growth was the most pronounced in 2021 when exports increased by 63% against the previous year. The exports peaked in 2022 and are likely to continue growth in the immediate term.
In value terms, exports of spices; cinnamon and cinnamon-tree flowers, crushed or ground contracted to $1.3M in 2022. In general, exports posted significant growth. The growth pace was the most rapid in 2021 with an increase of 59%. As a result, the exports reached the peak of $1.4M, and then shrank in the following year.
| Export of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Belgium (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Kingdom | 123 | 90.3 | 289 | 234 | 23.9% |
| Netherlands | 284 | 333 | 355 | 232 | -6.5% |
| France | 103 | 125 | 254 | 206 | 26.0% |
| Germany | 3.0 | 69.7 | 147 | 184 | 294.4% |
| United States | 27.2 | 25.7 | 29.4 | 112 | 60.3% |
| South Korea | 37.0 | 106 | 153 | 79.6 | 29.1% |
| Luxembourg | 19.1 | 33.6 | 47.0 | 64.6 | 50.1% |
| Czech Republic | 43.9 | 17.2 | 21.8 | 35.1 | -7.2% |
| Hungary | 22.9 | N/A | N/A | N/A | 0% |
| Others | 32.1 | 66.8 | 85.0 | 113 | 52.1% |
| Total | 694 | 867 | 1,380 | 1,260 | 22.0% |
Top Export Markets for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground from Belgium in 2022:
- United Kingdom (43.4 tons)
- Netherlands (22.7 tons)
- United States (19.0 tons)
- France (18.3 tons)
- Germany (18.0 tons)
- Luxembourg (8.4 tons)
- South Korea (5.2 tons)
- Czech Republic (4.6 tons)
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This report provides an in-depth analysis of the cinnamon market in Belgium.
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This report provides an in-depth analysis of the global cinnamon market.
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This report provides an in-depth analysis of the cinnamon market in Belgium.
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This report provides an in-depth analysis of the global cinnamon market.
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