Price for Spices; Mixtures of 2 or More Products of the Same Heading in Mexico - 2023
Contents:
- Price for Spices; Mixtures of 2 or More Products of the Same Heading in Mexico (FOB) - 2023
- Price for Spices; Mixtures of 2 or More Products of the Same Heading in Mexico (CIF) - 2023
- Exports of Spices; Mixtures of 2 or More Products of the Same Heading in Mexico
- Imports of Spices; Mixtures of 2 or More Products of the Same Heading in Mexico
Price for Spices; Mixtures of 2 or More Products of the Same Heading in Mexico (FOB) - 2023
The average export price for spices; mixtures of 2 or more products of the same heading stood at $1,494 per ton in November 2023, with an increase of 45% against the previous month. Over the period under review, export price indicated a modest increase from November 2022 to November 2023: its price increased at an average monthly rate of +1.0% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on November 2023 figures, export price for spices; mixtures of 2 or more products of the same heading increased by +95.5% against September 2023 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.
As there is only one major export destination, the average price level is determined by prices for the United States.
From November 2022 to November 2023, the rate of growth in terms of prices for the United States amounted to +1.1% per month.
Price for Spices; Mixtures of 2 or More Products of the Same Heading in Mexico (CIF) - 2023
In November 2023, the average import price for spices; mixtures of 2 or more products of the same heading amounted to $1,999 per ton, dropping by -83.1% against the previous month. Overall, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in October 2023 when the average import price increased by 847% month-to-month. As a result, import price reached the peak level of $11,832 per ton, and then shrank markedly in the following month.
Average prices varied noticeably amongst the major supplying countries. In November 2023, the country with the highest price was India ($2,201 per ton), while the price for Egypt stood at $1,809 per ton.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by India (+2.6%), while the prices for the other major suppliers experienced mixed trend patterns.
Exports of Spices; Mixtures of 2 or More Products of the Same Heading in Mexico
Exports of spices; mixtures of 2 or more products of the same heading from Mexico expanded sharply to 11K tons in 2022, increasing by 7.4% on the previous year's figure. Overall, exports showed significant growth. The pace of growth appeared the most rapid in 2021 when exports increased by 246%. The exports peaked in 2022 and are expected to retain growth in years to come.
In value terms, exports of spices; mixtures of 2 or more products of the same heading shrank to $11M in 2022. In general, exports saw significant growth. The pace of growth was the most pronounced in 2020 with an increase of 57% against the previous year.
| Export of Spices; Mixtures of 2 or More Products of the Same Heading in Mexico (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 5.3 | 8.5 | 11.8 | 10.7 | 26.4% |
| Others | 0.4 | 0.5 | 0.5 | 0.5 | 7.7% |
| Total | 5.7 | 9.0 | 12.3 | 11.3 | 25.6% |
Top Export Markets for Spices; Mixtures of 2 or More Products of the Same Heading from Mexico in 2022:
- United States (10.8K tons)
Imports of Spices; Mixtures of 2 or More Products of the Same Heading in Mexico
In 2022, the amount of spices; mixtures of 2 or more products of the same heading imported into Mexico rose significantly to 446 tons, picking up by 5.3% on the previous year. In general, total imports indicated a significant expansion from 2019 to 2022: its volume increased at an average annual rate of +20.0% 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 +72.8% against 2019 indices. The pace of growth was the most pronounced in 2020 with an increase of 39% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.
In value terms, imports of spices; mixtures of 2 or more products of the same heading surged to $1.5M in 2022. Overall, total imports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +7.6% 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 decreased by -12.0% against 2020 indices. The growth pace was the most rapid in 2020 when imports increased by 41%. As a result, imports attained the peak of $1.7M. 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 Mexico (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Turkey | N/A | 386 | 176 | 574 | 21.9% |
| India | 345 | 301 | 321 | 374 | 2.7% |
| Egypt | 294 | N/A | 295 | 265 | -3.4% |
| United States | 344 | 397 | 252 | 222 | -13.6% |
| Spain | 118 | 151 | 22.4 | 35.5 | -33.0% |
| Guatemala | N/A | 199 | N/A | N/A | 0% |
| Morocco | 44.7 | 118 | N/A | N/A | 164.0% |
| Others | 46.9 | 137 | 12.4 | 15.2 | -31.3% |
| Total | 1,193 | 1,688 | 1,080 | 1,486 | 7.6% |
Top Suppliers of Spices; Mixtures of 2 or More Products of the Same Heading to Mexico in 2022:
- India (194.2 tons)
- Egypt (164.9 tons)
- Turkey (63.1 tons)
- United States (21.4 tons)
- Spain (1.8 tons)
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