Price for Spices; Mixtures of 2 or More Products of the Same Heading in Malaysia - 2023
Contents:
- Price for Spices; Mixtures of 2 or More Products of the Same Heading in Malaysia (CIF) - 2023
- Price for Spices; Mixtures of 2 or More Products of the Same Heading in Malaysia (FOB) - 2023
- Imports of Spices; Mixtures of 2 or More Products of the Same Heading in Malaysia
- Exports of Spices; Mixtures of 2 or More Products of the Same Heading in Malaysia
Price for Spices; Mixtures of 2 or More Products of the Same Heading in Malaysia (CIF) - 2023
The average import price for spices; mixtures of 2 or more products of the same heading stood at $583 per ton in December 2023, which is down by -38% against the previous month. In general, the import price saw a pronounced shrinkage. The pace of growth was the most pronounced in November 2023 an increase of 33% against the previous month. Over the period under review, average import prices attained the maximum at $974 per ton in December 2022; however, from January 2023 to December 2023, import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was China ($2,633 per ton), while the price for Thailand ($211 per ton) was amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by India (+6.4%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Spices; Mixtures of 2 or More Products of the Same Heading in Malaysia (FOB) - 2023
In December 2023, the average export price for spices; mixtures of 2 or more products of the same heading amounted to $2,102 per ton, declining by -4% against the previous month. Overall, the export price showed a noticeable descent. The most prominent rate of growth was recorded in March 2023 an increase of 70% month-to-month. The export price peaked at $3,288 per ton in December 2022; however, from January 2023 to December 2023, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major foreign markets. In December 2023, the country with the highest price was China ($7,792 per ton), while the average price for exports to Senegal ($969 per ton) was amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was recorded for supplies to Australia (+2.2%), 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 Malaysia
In 2022, imports of spices; mixtures of 2 or more products of the same heading into Malaysia rose modestly to 9.1K tons, increasing by 3.4% on 2021. The total import volume increased at an average annual rate of +4.0% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 19%. Imports peaked in 2022 and are likely to continue growth in years to come.
In value terms, imports of spices; mixtures of 2 or more products of the same heading reduced rapidly to $11M in 2022. The total import value increased at an average annual rate of +1.2% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 when imports increased by 35% against the previous year. As a result, imports attained the peak of $14M. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.
Import of Spices; Mixtures of 2 or More Products of the Same Heading in Malaysia (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
India | 2.2 | 2.1 | 2.7 | 2.2 | 0.0% |
China | 0.9 | 4.3 | 1.4 | 1.8 | 26.0% |
Thailand | 1.6 | 0.7 | 1.3 | 1.7 | 2.0% |
Indonesia | 1.7 | 2.7 | 2.4 | 1.4 | -6.3% |
Bangladesh | 0.5 | 0.6 | 0.6 | 0.3 | -15.7% |
Vietnam | 0.6 | 0.3 | 0.5 | 0.3 | -20.6% |
Pakistan | 0.3 | 0.2 | 0.2 | 0.2 | -12.6% |
Myanmar | N/A | N/A | N/A | 0.2 | 0% |
Others | 2.6 | 3.0 | 3.7 | 2.7 | 1.3% |
Total | 10.4 | 14.0 | 12.7 | 10.8 | 1.3% |
Top Suppliers of Spices; Mixtures of 2 or More Products of the Same Heading to Malaysia in 2022:
- Thailand (4.6K tons)
- India (1.4K tons)
- China (1.1K tons)
- Indonesia (0.7K tons)
- Bangladesh (0.3K tons)
- Myanmar (0.2K tons)
- Vietnam (0.2K tons)
- Pakistan (0.1K tons)
Exports of Spices; Mixtures of 2 or More Products of the Same Heading in Malaysia
In 2022, shipments abroad of spices; mixtures of 2 or more products of the same heading was finally on the rise to reach 2.2K tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, continue to indicate a sharp curtailment.
In value terms, exports of spices; mixtures of 2 or more products of the same heading reached $7.7M in 2022. Over the period under review, exports, however, saw a deep slump.
Export of Spices; Mixtures of 2 or More Products of the Same Heading in Malaysia (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Singapore | 9,822 | 5,106 | 2,454 | 2,660 | -35.3% |
Australia | 782 | 796 | 1,036 | 914 | 5.3% |
Thailand | 887 | 869 | 901 | 853 | -1.3% |
Brunei Darussalam | 836 | 870 | 787 | 725 | -4.6% |
Indonesia | 409 | 327 | 184 | 278 | -12.1% |
Taiwan (Chinese) | 38.1 | 55.9 | 66.7 | 274 | 93.0% |
China | 249 | 224 | 292 | 262 | 1.7% |
Japan | 6.4 | 138 | 189 | 257 | 242.4% |
United Kingdom | 123 | 401 | 248 | 240 | 25.0% |
New Zealand | 98.1 | 119 | 130 | 208 | 28.5% |
United States | 67.2 | 114 | 80.7 | 203 | 44.6% |
Canada | 758 | 700 | 149 | 177 | -38.4% |
Others | 659 | 520 | 505 | 621 | -2.0% |
Total | 14,734 | 10,241 | 7,022 | 7,671 | -19.6% |
Top Export Markets for Spices; Mixtures of 2 or More Products of the Same Heading from Malaysia in 2022:
- Singapore (980.6 tons)
- Thailand (229.2 tons)
- Brunei Darussalam (218.2 tons)
- Australia (206.8 tons)
- Indonesia (71.7 tons)
- United Kingdom (61.6 tons)
- Japan (51.7 tons)
- Taiwan (Chinese) (46.7 tons)
- United States (44.3 tons)
- China (43.7 tons)
- Canada (40.9 tons)
- New Zealand (33.8 tons)
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