Price for Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Australia - 2023
Contents:
- Price for Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Australia (CIF) - 2023
- Price for Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Australia (FOB) - 2022
- Imports of Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Australia
- Exports of Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Australia
Price for Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Australia (CIF) - 2023
In November 2023, the average import price for spices; fruits of the genus capsicum or pimenta, crushed or ground amounted to $4,457 per ton, surging by 14% against the previous month. Overall, the import price, however, continues to indicate a mild reduction. The import price peaked at $5,349 per ton in December 2022; however, from January 2023 to November 2023, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In November 2023, the country with the highest price was Sri Lanka ($6,381 per ton), while the price for Turkey ($918 per ton) was amongst the lowest.
From December 2022 to November 2023, the most notable rate of growth in terms of prices was attained by China (+1.2%), while the prices for the other major suppliers experienced a decline.
Price for Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Australia (FOB) - 2022
In 2022, the average export price for spices; fruits of the genus capsicum or pimenta, crushed or ground amounted to $6,976 per ton, waning by -16.2% against the previous year. In general, the export price showed a perceptible downturn. The most prominent rate of growth was recorded in 2020 when the average export price increased by 50%. Over the period under review, the average export prices reached the maximum at $8,726 per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($12,797 per ton), while the average price for exports to New Zealand ($5,239 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 Vietnam (+9.1%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Australia
Imports of spices; fruits of the genus capsicum or pimenta, crushed or ground into Australia reached 5.1K tons in 2022, surging by 7.2% against 2021. The total import volume increased at an average annual rate of +8.5% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 14%. Over the period under review, imports of spices; fruits of genus capsicum or pimenta, crushed or ground reached the maximum in 2022 and are expected to retain growth in the near future.
In value terms, imports of spices; fruits of the genus capsicum or pimenta, crushed or ground skyrocketed to $21M in 2022. Over the period under review, total imports indicated significant growth from 2019 to 2022: its value increased at an average annual rate of +21.1% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +77.5% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 27% against the previous year. Over the period under review, imports of spices; fruits of genus capsicum or pimenta, crushed or ground hit record highs in 2022 and are expected to retain growth in years to come.
| Import of Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Australia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 4.3 | 4.8 | 6.9 | 7.4 | 19.8% |
| Spain | 4.2 | 5.0 | 5.9 | 6.1 | 13.2% |
| China | 1.8 | 2.1 | 2.4 | 4.4 | 34.7% |
| South Korea | 0.4 | 0.4 | 0.4 | 0.8 | 26.0% |
| Malaysia | 0.3 | 0.2 | 0.4 | 0.4 | 10.1% |
| Others | 1.0 | 1.3 | 1.5 | 2.1 | 28.1% |
| Total | 12.0 | 13.8 | 17.5 | 21.2 | 20.9% |
Top Suppliers of Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground to Australia in 2022:
- India (1771.2 tons)
- Spain (1712.1 tons)
- China (1091.2 tons)
- South Korea (122.0 tons)
- Malaysia (80.9 tons)
Exports of Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Australia
In 2022, exports of spices; fruits of the genus capsicum or pimenta, crushed or ground from Australia reduced to 159 tons, with a decrease of -13.2% compared with the previous year's figure. Overall, exports recorded a abrupt contraction. The pace of growth was the most pronounced in 2021 with an increase of 24%.
In value terms, exports of spices; fruits of the genus capsicum or pimenta, crushed or ground shrank rapidly to $1.1M in 2022. In general, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 35%. As a result, the exports attained the peak of $1.5M, and then reduced dramatically in the following year.
| Export of Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Australia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| New Zealand | 360 | 365 | 582 | 533 | 14.0% |
| Malaysia | 109 | 376 | 586 | 158 | 13.2% |
| Thailand | 89.2 | 48.4 | 64.9 | 116 | 9.2% |
| Indonesia | 87.5 | 54.3 | 19.9 | 84.5 | -1.2% |
| Netherlands | N/A | N/A | N/A | 78.5 | 0% |
| Vietnam | 56.0 | 54.5 | 48.5 | 40.1 | -10.5% |
| Singapore | 158 | 152 | 173 | 32.0 | -41.3% |
| Papua New Guinea | 2.5 | 3.5 | 5.5 | 18.1 | 93.5% |
| United Kingdom | 74.8 | 19.8 | N/A | N/A | -73.5% |
| Others | 178 | 59.8 | 48.2 | 51.0 | -34.1% |
| Total | 1,114 | 1,133 | 1,528 | 1,111 | -0.1% |
Top Export Markets for Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground from Australia in 2022:
- New Zealand (101.7 tons)
- Malaysia (12.4 tons)
- Netherlands (12.1 tons)
- Thailand (11.4 tons)
- Indonesia (7.4 tons)
- Vietnam (3.6 tons)
- Papua New Guinea (2.9 tons)
- Singapore (2.5 tons)
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