Price for Spices; Mixtures of 2 or More Products of the Same Heading in Indonesia - 2022
Contents:
- Price for Spices; Mixtures of 2 or More Products of the Same Heading in Indonesia (FOB) - 2022
- Price for Spices; Mixtures of 2 or More Products of the Same Heading in Indonesia (CIF) - 2022
- Exports of Spices; Mixtures of 2 or More Products of the Same Heading in Indonesia
- Imports of Spices; Mixtures of 2 or More Products of the Same Heading in Indonesia
Price for Spices; Mixtures of 2 or More Products of the Same Heading in Indonesia (FOB) - 2022
In 2022, the average export price for spices; mixtures of 2 or more products of the same heading amounted to $1,917 per ton, jumping by 18% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 33%. As a result, the export price reached the peak level of $3,108 per ton. From 2017 to 2022, the average export prices failed to regain momentum.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($12,058 per ton), while the average price for exports to Bangladesh ($1,104 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 China (+18.0%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Spices; Mixtures of 2 or More Products of the Same Heading in Indonesia (CIF) - 2022
The average import price for spices; mixtures of 2 or more products of the same heading stood at $1,023 per ton in March 2022, waning by -10% against the previous month. In general, import price indicated measured growth from March 2021 to March 2022: its price increased at an average monthly rate of +2.4% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on March 2022 figures, import price for spices; mixtures of 2 or more products of the same heading decreased by -41.0% against December 2021 indices. The most prominent rate of growth was recorded in December 2021 an increase of 85% month-to-month. As a result, import price reached the peak level of $1,735 per ton. From January 2022 to March 2022, the average import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In March 2022, the country with the highest price was Turkey ($2,761 per ton), while the price for Pakistan ($540 per ton) was amongst the lowest.
From March 2021 to March 2022, the most notable rate of growth in terms of prices was attained by Turkey (+2.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Spices; Mixtures of 2 or More Products of the Same Heading in Indonesia
In 2022, overseas shipments of spices; mixtures of 2 or more products of the same heading decreased by -29.3% to 1.8K tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports recorded a perceptible contraction. The most prominent rate of growth was recorded in 2021 when exports increased by 22%. As a result, the exports attained the peak of 2.5K tons, and then shrank sharply in the following year.
In value terms, exports of spices; mixtures of 2 or more products of the same heading declined dramatically to $3.4M in 2022. In general, exports showed a deep downturn. The smallest decline of -3.3% was in 2020.
| Export of Spices; Mixtures of 2 or More Products of the Same Heading in Indonesia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Malaysia | 586 | 943 | 828 | 732 | 7.7% |
| Japan | 777 | 698 | 418 | 580 | -9.3% |
| Australia | 171 | 166 | 256 | 239 | 11.8% |
| Iran | 101 | 120 | 139 | 234 | 32.3% |
| Egypt | 178 | 29.6 | 330 | 203 | 4.5% |
| India | 872 | 1,203 | 622 | 186 | -40.3% |
| Netherlands | 178 | 280 | 349 | 144 | -6.8% |
| United Kingdom | 14.4 | 31.0 | 76.4 | 116 | 100.5% |
| South Korea | 327 | 154 | 87.3 | 114 | -29.6% |
| China | 289 | 313 | 32.5 | 112 | -27.1% |
| United Arab Emirates | 24.4 | 17.1 | 29.8 | 103 | 61.6% |
| Iraq | 51.6 | 37.7 | 100 | 48.4 | -2.1% |
| Bangladesh | 0.3 | N/A | 11.7 | 45.6 | 433.7% |
| Others | 1,403 | 819 | 771 | 518 | -28.3% |
| Total | 4,973 | 4,810 | 4,049 | 3,374 | -12.1% |
Top Export Markets for Spices; Mixtures of 2 or More Products of the Same Heading from Indonesia in 2022:
- Malaysia (657.9 tons)
- Egypt (176.5 tons)
- Iran (173.2 tons)
- India (166.7 tons)
- United Arab Emirates (72.7 tons)
- Japan (48.1 tons)
- China (44.8 tons)
- South Korea (44.6 tons)
- Netherlands (44.0 tons)
- Australia (42.5 tons)
- United Kingdom (41.5 tons)
- Bangladesh (41.3 tons)
- Iraq (40.3 tons)
Imports of Spices; Mixtures of 2 or More Products of the Same Heading in Indonesia
In 2022, overseas purchases of spices; mixtures of 2 or more products of the same heading decreased by -24.1% to 1.3K tons, falling for the second year in a row after two years of growth. Over the period under review, imports showed a deep reduction. The growth pace was the most rapid in 2020 with an increase of 35% against the previous year. As a result, imports attained the peak of 2.4K tons. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.
In value terms, imports of spices; mixtures of 2 or more products of the same heading dropped slightly to $1.7M in 2022. Overall, imports continue to indicate a abrupt downturn. The pace of growth appeared the most rapid in 2020 when imports increased by 56% against the previous year. As a result, imports attained the peak of $3.6M. From 2021 to 2022, the growth of imports of remained at a lower figure.
| Import of Spices; Mixtures of 2 or More Products of the Same Heading in Indonesia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 422 | 377 | 549 | 459 | 2.8% |
| Pakistan | 78.1 | N/A | 188 | 282 | 53.4% |
| Turkey | 308 | 364 | 147 | 269 | -4.4% |
| Russia | 0.1 | 17.3 | 139 | 99.0 | 896.7% |
| China | 99.1 | 1,256 | 57.1 | 69.4 | -11.2% |
| Thailand | 325 | 26.5 | 15.7 | 11.0 | -67.7% |
| Vietnam | 362 | 661 | 249 | N/A | -17.1% |
| Others | 714 | 891 | 473 | 547 | -8.5% |
| Total | 2,309 | 3,594 | 1,817 | 1,737 | -9.1% |
Top Suppliers of Spices; Mixtures of 2 or More Products of the Same Heading to Indonesia in 2022:
- India (497.1 tons)
- Pakistan (493.8 tons)
- Turkey (134.8 tons)
- Russia (110.0 tons)
- China (10.6 tons)
- Thailand (7.7 tons)
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