Price for Spices; Mixtures of 2 or More Products of the Same Heading in Hungary - 2023
Contents:
- Price for Spices; Mixtures of 2 or More Products of the Same Heading in Hungary (CIF) - 2023
- Price for Spices; Mixtures of 2 or More Products of the Same Heading in Hungary (FOB) - 2022
- Imports of Spices; Mixtures of 2 or More Products of the Same Heading in Hungary
- Exports of Spices; Mixtures of 2 or More Products of the Same Heading in Hungary
Price for Spices; Mixtures of 2 or More Products of the Same Heading in Hungary (CIF) - 2023
The average import price for spices; mixtures of 2 or more products of the same heading stood at $4,968 per ton in October 2023, dropping by -12.4% against the previous month. Overall, import price indicated a prominent increase from October 2022 to October 2023: its price increased at an average monthly rate of +5.9% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on October 2023 figures, import price for spices; mixtures of 2 or more products of the same heading decreased by -26.3% against July 2023 indices. The pace of growth appeared the most rapid in July 2023 when the average import price increased by 58% against the previous month. As a result, import price attained the peak level of $6,740 per ton. From August 2023 to October 2023, the average import prices remained at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In October 2023, the country with the highest price was the UK ($15,015 per ton), while the price for Egypt ($1,989 per ton) was amongst the lowest.
From October 2022 to October 2023, the most notable rate of growth in terms of prices was attained by Turkey (+14.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Spices; Mixtures of 2 or More Products of the Same Heading in Hungary (FOB) - 2022
In 2022, the average export price for spices; mixtures of 2 or more products of the same heading amounted to $3,535 per ton, waning by -6.5% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 61% against the previous year. As a result, the export price attained the peak level of $5,701 per ton. From 2016 to 2022, the average export prices remained at a 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 the Netherlands ($4,882 per ton), while the average price for exports to Germany ($2,457 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 Slovakia (+0.2%), while the prices for the other major destinations experienced a decline.
Imports of Spices; Mixtures of 2 or More Products of the Same Heading in Hungary
In 2022, after three years of growth, there was significant decline in purchases abroad of spices; mixtures of 2 or more products of the same heading, when their volume decreased by -18.9% to 978 tons. The total import volume increased at an average annual rate of +3.4% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by 33% against the previous year. As a result, imports attained the peak of 1.2K tons, and then dropped remarkably in the following year.
In value terms, imports of spices; mixtures of 2 or more products of the same heading dropped to $2.8M in 2022. The total import value increased at an average annual rate of +2.4% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by 35%. As a result, imports attained the peak of $3.2M, and then contracted in the following year.
Import of Spices; Mixtures of 2 or More Products of the Same Heading in Hungary (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Germany | 151 | 137 | 707 | 722 | 68.5% |
Turkey | 470 | 321 | 445 | 632 | 10.4% |
Poland | 463 | 775 | 1,030 | 549 | 5.8% |
Austria | 711 | 723 | 527 | 375 | -19.2% |
Netherlands | 178 | 96.6 | 136 | 108 | -15.3% |
Egypt | 18.8 | 21.9 | 88.6 | 92.6 | 70.1% |
Slovenia | 28.4 | 88.4 | 82.0 | 8.4 | -33.4% |
Italy | 347 | 39.1 | 0.2 | 4.8 | -76.0% |
Others | 206 | 165 | 183 | 273 | 9.8% |
Total | 2,573 | 2,367 | 3,200 | 2,765 | 2.4% |
Top Suppliers of Spices; Mixtures of 2 or More Products of the Same Heading to Hungary in 2022:
- Turkey (462.5 tons)
- Poland (177.0 tons)
- Germany (149.1 tons)
- Egypt (66.2 tons)
- Austria (44.6 tons)
- Netherlands (25.0 tons)
- Slovenia (2.8 tons)
- Italy (1.4 tons)
Exports of Spices; Mixtures of 2 or More Products of the Same Heading in Hungary
In 2022, approx. 176 tons of spices; mixtures of 2 or more products of the same heading were exported from Hungary; increasing by 5.7% on the previous year's figure. In general, total exports indicated a significant expansion from 2019 to 2022: its volume increased at an average annual rate of +21.2% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +78.2% against 2019 indices. The growth pace was the most rapid in 2020 when exports increased by 65%. The exports peaked in 2022 and are expected to retain growth in the near future.
In value terms, exports of spices; mixtures of 2 or more products of the same heading dropped slightly to $621K in 2022. Over the period under review, total exports indicated a prominent increase from 2019 to 2022: its value increased at an average annual rate of +16.1% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +56.4% against 2019 indices. The pace of growth was the most pronounced in 2020 when exports increased by 43% against the previous year.
Export of Spices; Mixtures of 2 or More Products of the Same Heading in Hungary (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Poland | N/A | 27.3 | 169 | 138 | 124.8% |
Germany | 196 | 266 | 113 | 104 | -19.0% |
Austria | 10.2 | 61.0 | 84.7 | 90.3 | 106.9% |
Croatia | 44.7 | 75.3 | 74.0 | 72.5 | 17.5% |
Romania | 27.1 | 25.0 | 37.9 | 52.9 | 25.0% |
Serbia | 19.7 | 20.8 | 1.7 | 35.7 | 21.9% |
Netherlands | N/A | 0.2 | 12.8 | 30.4 | 1132.9% |
Turkey | N/A | N/A | 26.5 | N/A | 0% |
Others | 99.5 | 90.8 | 108 | 97.5 | -0.7% |
Total | 397 | 566 | 629 | 621 | 16.1% |
Top Export Markets for Spices; Mixtures of 2 or More Products of the Same Heading from Hungary in 2022:
- Germany (42.3 tons)
- Austria (32.1 tons)
- Poland (28.6 tons)
- Croatia (25.0 tons)
- Romania (15.9 tons)
- Serbia (8.1 tons)
- Netherlands (6.2 tons)
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