Price for Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in the UK - 2023
Contents:
- Price for Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in the UK (CIF) - 2023
- Price for Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in the UK (FOB) - 2023
- Imports of Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in the UK
- Exports of Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in the UK
Price for Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in the UK (CIF) - 2023
The average import price for spices; fruits of the genus capsicum or pimenta, crushed or ground stood at $4,819 per ton in November 2023, dropping by -32.5% against the previous month. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in October 2023 an increase of 51% against the previous month. As a result, import price reached the peak level of $7,144 per ton, and then reduced notably in the following month.
Prices varied noticeably by the country of origin: the country with the highest price was South Africa ($10,135 per ton), while the price for Spain ($4,417 per ton) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by China (+0.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in the UK (FOB) - 2023
The average export price for spices; fruits of the genus capsicum or pimenta, crushed or ground stood at $7,205 per ton in November 2023, shrinking by -5.1% against the previous month. In general, export price indicated a slight increase from November 2022 to November 2023: its price increased at an average monthly rate of +1.9% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on November 2023 figures, export price for spices; fruits of the genus capsicum or pimenta, crushed or ground decreased by -43.3% against July 2023 indices. The pace of growth was the most pronounced in July 2023 when the average export price increased by 73% m-o-m. As a result, the export price attained the peak level of $12,716 per ton. From August 2023 to November 2023, the the average export prices remained at a somewhat lower figure.
There were significant differences in the average prices for the major foreign markets. In November 2023, the country with the highest price was Sweden ($10,705 per ton), while the average price for exports to Spain ($3,446 per ton) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was recorded for supplies to China (+15.4%), 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 the UK
In 2022, imports of spices; fruits of the genus capsicum or pimenta, crushed or ground into the UK amounted to 15K tons, standing approx. at the previous year's figure. The total import volume increased at an average annual rate of +5.1% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2020 when imports increased by 22% against the previous year. As a result, imports attained the peak of 16K tons. From 2021 to 2022, the growth of imports of failed to regain momentum.
In value terms, imports of spices; fruits of the genus capsicum or pimenta, crushed or ground rose notably to $61M in 2022. The total import value increased at an average annual rate of +14.0% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 23% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the near future.
| Import of Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in the UK (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Spain | 18.2 | 25.4 | 20.6 | 25.8 | 12.3% |
| India | 11.9 | 12.9 | 18.7 | 18.9 | 16.7% |
| China | 3.1 | 3.6 | 5.3 | 6.9 | 30.6% |
| France | 2.9 | 4.1 | 2.9 | 2.0 | -11.6% |
| Turkey | 0.4 | 0.9 | 1.0 | 1.8 | 65.1% |
| Others | 4.5 | 3.8 | 4.9 | 5.3 | 5.6% |
| Total | 41.0 | 50.6 | 53.4 | 60.7 | 14.0% |
Top Suppliers of Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground to the UK in 2022:
- Spain (6.4K tons)
- India (4.7K tons)
- China (1.7K tons)
- Turkey (0.9K tons)
- France (0.3K tons)
Exports of Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in the UK
In 2022, overseas shipments of spices; fruits of the genus capsicum or pimenta, crushed or ground decreased by -20.7% to 734 tons, falling for the second year in a row after two years of growth. In general, exports saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of 34% against the previous year. As a result, the exports reached the peak of 1.2K tons. From 2021 to 2022, the growth of the exports of remained at a lower figure.
In value terms, exports of spices; fruits of the genus capsicum or pimenta, crushed or ground shrank dramatically to $4.4M in 2022. Overall, exports continue to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2020 with an increase of 44%. As a result, the exports attained the peak of $7.5M. From 2021 to 2022, the growth of the exports of failed to regain momentum.
| Export of Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in the UK (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Ireland | 1,522 | 2,479 | 2,083 | 1,727 | 4.3% |
| Netherlands | 578 | 755 | 770 | 510 | -4.1% |
| France | 387 | 453 | 674 | 331 | -5.1% |
| Spain | 228 | 275 | 103 | 289 | 8.2% |
| Poland | 101 | 358 | 288 | 264 | 37.8% |
| Belgium | 254 | 300 | 109 | 115 | -23.2% |
| Germany | 593 | 844 | 277 | 113 | -42.5% |
| United Arab Emirates | 2.8 | 5.0 | 26.2 | 101 | 230.4% |
| Lebanon | 17.1 | 65.8 | 75.1 | 63.8 | 55.1% |
| Singapore | 1.3 | 22.9 | 35.9 | 53.9 | 246.1% |
| China | 17.6 | N/A | N/A | 47.5 | 39.2% |
| Italy | 580 | 700 | 14.3 | 27.8 | -63.7% |
| Cameroon | N/A | N/A | N/A | 0.4 | 0% |
| Others | 924 | 1,232 | 1,156 | 740 | -7.1% |
| Total | 5,206 | 7,491 | 5,612 | 4,383 | -5.6% |
Top Export Markets for Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground from the UK in 2022:
- Ireland (231.6 tons)
- Netherlands (94.5 tons)
- France (71.2 tons)
- Spain (66.5 tons)
- Poland (58.1 tons)
- Lebanon (24.0 tons)
- Belgium (22.5 tons)
- China (22.4 tons)
- United Arab Emirates (14.5 tons)
- Cameroon (11.6 tons)
- Singapore (11.3 tons)
- Germany (10.0 tons)
- Italy (6.5 tons)
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