Price for Spices; Mixtures of 2 or More Products of the Same Heading in Japan - 2023
Contents:
- Price for Spices; Mixtures of 2 or More Products of the Same Heading in Japan (CIF) - 2022
- Price for Spices; Mixtures of 2 or More Products of the Same Heading in Japan (FOB) - 2023
- Imports of Spices; Mixtures of 2 or More Products of the Same Heading in Japan
- Exports of Spices; Mixtures of 2 or More Products of the Same Heading in Japan
Price for Spices; Mixtures of 2 or More Products of the Same Heading in Japan (CIF) - 2022
In 2022, the average import price for spices; mixtures of 2 or more products of the same heading amounted to $9,367 per ton, picking up by 34% against the previous year. In general, import price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for spices; mixtures of 2 or more products of the same heading increased by +24.9% against 2019 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($79,860 per ton), while the price for India ($1,663 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+21.5%), 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 Japan (FOB) - 2023
The average export price for spices; mixtures of 2 or more products of the same heading stood at $13,760 per ton in November 2023, with an increase of 14% against the previous month. In general, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in January 2023 when the average export price increased by 23% month-to-month. The export price peaked at $17,408 per ton in April 2023; however, from May 2023 to November 2023, the export prices failed to regain momentum.
There were significant differences in the average prices for the major external markets. In November 2023, the country with the highest price was the United States ($44,250 per ton), while the average price for exports to New Zealand ($6,444 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 Vietnam (+19.0%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Spices; Mixtures of 2 or More Products of the Same Heading in Japan
In 2022, approx. 2.8K tons of spices; mixtures of 2 or more products of the same heading were imported into Japan; declining by -5.3% on the previous year's figure. Overall, imports showed a mild descent. The growth pace was the most rapid in 2021 when imports increased by 10%. As a result, imports attained the peak of 3K tons, and then shrank in the following year.
In value terms, imports of spices; mixtures of 2 or more products of the same heading surged to $26M in 2022. The total import value increased at an average annual rate of +6.6% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Spices; Mixtures of 2 or More Products of the Same Heading in Japan (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| South Korea | 3.1 | 4.1 | 4.3 | 11.0 | 52.5% |
| China | 12.0 | 7.3 | 9.3 | 7.6 | -14.1% |
| India | 2.0 | 2.2 | 2.4 | 2.5 | 7.7% |
| Turkey | 1.9 | 1.9 | 1.5 | 1.8 | -1.8% |
| Morocco | 0.3 | 0.2 | 0.6 | 0.6 | 26.0% |
| Canada | 0.2 | 0.2 | 0.1 | 0.2 | 0.0% |
| Others | 2.1 | 1.9 | 2.4 | 2.5 | 6.0% |
| Total | 21.6 | 17.8 | 20.6 | 26.2 | 6.6% |
Top Suppliers of Spices; Mixtures of 2 or More Products of the Same Heading to Japan in 2022:
- India (1528.7 tons)
- China (501.5 tons)
- Turkey (312.2 tons)
- South Korea (137.2 tons)
- Canada (102.0 tons)
- Morocco (91.9 tons)
Exports of Spices; Mixtures of 2 or More Products of the Same Heading in Japan
In 2022, approx. 396 tons of spices; mixtures of 2 or more products of the same heading were exported from Japan; rising by 11% against the previous year's figure. In general, exports posted significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 67% against the previous year. Over the period under review, the exports of spices; mixtures of 2 or more products of same heading hit record highs in 2022 and are likely to see steady growth in the immediate term.
In value terms, exports of spices; mixtures of 2 or more products of the same heading contracted to $5.1M in 2022. Overall, exports posted a strong expansion. The growth pace was the most rapid in 2021 when exports increased by 64%. As a result, the exports reached the peak of $5.7M, and then contracted in the following year.
| Export of Spices; Mixtures of 2 or More Products of the Same Heading in Japan (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| South Korea | 254 | 277 | 740 | 923 | 53.7% |
| United States | 494 | 206 | 423 | 740 | 14.4% |
| Germany | 200 | 540 | 1,040 | 582 | 42.8% |
| Hong Kong SAR | 149 | 271 | 436 | 392 | 38.0% |
| China | 261 | 671 | 844 | 304 | 5.2% |
| Taiwan (Chinese) | 289 | 477 | 298 | 271 | -2.1% |
| Vietnam | 70.2 | 24.5 | 109 | 167 | 33.5% |
| New Zealand | N/A | 154 | 186 | 128 | -8.8% |
| Russia | 3.5 | 21.5 | 27.9 | 121 | 225.8% |
| South Africa | 12.8 | 3.3 | 64.9 | 119 | 110.3% |
| France | 158 | 101 | 93.5 | 112 | -10.8% |
| United Arab Emirates | 49.8 | 38.7 | 28.7 | 98.2 | 25.4% |
| Australia | 59.0 | 56.5 | 39.3 | 79.0 | 10.2% |
| Others | 1,001 | 631 | 1,366 | 1,072 | 2.3% |
| Total | 3,001 | 3,473 | 5,697 | 5,108 | 19.4% |
Top Export Markets for Spices; Mixtures of 2 or More Products of the Same Heading from Japan in 2022:
- Germany (56.8 tons)
- United States (41.9 tons)
- Hong Kong SAR (36.0 tons)
- Taiwan (Chinese) (30.1 tons)
- South Korea (24.7 tons)
- South Africa (24.5 tons)
- China (19.1 tons)
- Vietnam (18.8 tons)
- New Zealand (17.8 tons)
- Russia (14.4 tons)
- United Arab Emirates (12.2 tons)
- France (9.0 tons)
- Australia (8.4 tons)
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