Price for Spices; Ginger, Crushed or Ground in Lithuania - 2023
Contents:
- Price for Spices; Ginger, Crushed or Ground in Lithuania (CIF) - 2022
- Price for Spices; Ginger, Crushed or Ground in Lithuania (FOB) - 2022
- Imports of Spices; Ginger, Crushed or Ground in Lithuania
- Exports of Spices; Ginger, Crushed or Ground in Lithuania
Price for Spices; Ginger, Crushed or Ground in Lithuania (CIF) - 2022
In 2022, the average import price for spices; ginger, crushed or ground amounted to $8,994 per ton, rising by 14% against the previous year. Over the period under review, the import price continues to indicate a buoyant increase. The most prominent rate of growth was recorded in 2021 when the average import price increased by 136% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in the near future.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Estonia ($14,797 per ton), while the price for China ($2,613 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+7.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Spices; Ginger, Crushed or Ground in Lithuania (FOB) - 2022
In 2022, the average export price for spices; ginger, crushed or ground amounted to $4,688 per ton, surging by 2.5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.2%. The most prominent rate of growth was recorded in 2017 when the average export price increased by 37% against the previous year. Over the period under review, the average export prices reached the peak figure at $5,671 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 Germany ($9,453 per ton), while the average price for exports to Greece ($2,561 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 Russia (+9.9%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Spices; Ginger, Crushed or Ground in Lithuania
In 2022, after three years of growth, there was significant decline in overseas purchases of spices; ginger, crushed or ground, when their volume decreased by -8.2% to 40 tons. Overall, total imports indicated a resilient expansion from 2019 to 2022: its volume increased at an average annual rate of +17.1% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +60.5% against 2019 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 65% against the previous year. As a result, imports attained the peak of 43 tons, and then shrank in the following year.
In value terms, spices; ginger, crushed or ground imports rose rapidly to $358K in 2022. Over the period under review, imports, however, showed a significant expansion. The growth pace was the most rapid in 2021 with an increase of 291%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.
| Import of Spices; Ginger, Crushed or Ground in Lithuania (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Estonia | 6.4 | 10.3 | 243 | 272 | 249.0% |
| China | 32.7 | 35.5 | 37.6 | 35.3 | 2.6% |
| Germany | 2.3 | 10.0 | 12.7 | 17.6 | 97.1% |
| Latvia | 1.9 | 10.3 | 19.9 | 11.1 | 80.1% |
| Poland | N/A | 0.8 | 7.9 | 7.2 | 200.0% |
| Netherlands | 3.0 | 9.2 | 4.3 | 0.6 | -41.5% |
| Vietnam | 1.7 | N/A | 4.9 | N/A | 69.8% |
| France | 16.2 | 2.4 | 2.0 | N/A | -64.9% |
| Others | 7.7 | 8.7 | 8.0 | 14.1 | 22.3% |
| Total | 71.9 | 87.2 | 341 | 358 | 70.8% |
Top Suppliers of Spices; Ginger, Crushed or Ground to Lithuania in 2022:
- Estonia (18.4 tons)
- China (13.5 tons)
- Latvia (3.3 tons)
- Poland (2.3 tons)
- Germany (1.3 tons)
- Netherlands (0.1 tons)
Exports of Spices; Ginger, Crushed or Ground in Lithuania
In 2022, approx. 3.2 tons of spices; ginger, crushed or ground were exported from Lithuania; which is down by -63.3% compared with 2021 figures. Over the period under review, exports recorded a deep downturn. The pace of growth was the most pronounced in 2021 when exports increased by 109%. As a result, the exports reached the peak of 8.7 tons, and then contracted dramatically in the following year.
In value terms, spices; ginger, crushed or ground exports fell remarkably to $15K in 2022. In general, exports continue to indicate a abrupt downturn. The pace of growth was the most pronounced in 2021 with an increase of 69%. As a result, the exports reached the peak of $40K, and then shrank markedly in the following year.
| Export of Spices; Ginger, Crushed or Ground in Lithuania (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Latvia | 7.4 | 9.0 | 9.3 | 8.3 | 3.9% |
| Estonia | 0.8 | 0.8 | 1.5 | 2.5 | 46.2% |
| Russia | 10.2 | 10.5 | 3.3 | 2.4 | -38.3% |
| Germany | 0.1 | N/A | 0.4 | 0.8 | 100.0% |
| Greece | N/A | N/A | N/A | 0.1 | 0% |
| Bulgaria | N/A | N/A | N/A | 0.1 | 0% |
| Poland | N/A | N/A | 23.1 | N/A | 0% |
| Others | 1.5 | 3.2 | 2.2 | 0.7 | -22.4% |
| Total | 20.1 | 23.6 | 39.7 | 15.0 | -9.3% |
Top Export Markets for Spices; Ginger, Crushed or Ground from Lithuania in 2022:
- Latvia (2054.0 kg)
- Estonia (560.0 kg)
- Russia (346.0 kg)
- Germany (86.0 kg)
- Greece (57.0 kg)
- Bulgaria (48.0 kg)
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