Price for Spices; Mixtures of 2 or More Products of the Same Heading in Morocco - 2023
Contents:
- Price for Spices; Mixtures of 2 or More Products of the Same Heading in Morocco (FOB) - 2023
- Price for Spices; Mixtures of 2 or More Products of the Same Heading in Morocco (CIF) - 2022
- Exports of Spices; Mixtures of 2 or More Products of the Same Heading in Morocco
- Imports of Spices; Mixtures of 2 or More Products of the Same Heading in Morocco
Price for Spices; Mixtures of 2 or More Products of the Same Heading in Morocco (FOB) - 2023
The average export price for spices; mixtures of 2 or more products of the same heading stood at $6,442 per ton in June 2023, rising by 2.4% against the previous month. Over the period from June 2022 to June 2023, it increased at an average monthly rate of +1.4%. The most prominent rate of growth was recorded in October 2022 when the average export price increased by 23% month-to-month. As a result, the export price reached the peak level of $7,157 per ton. From November 2022 to June 2023, the the average export prices failed to regain momentum.
Average prices varied noticeably for the major external markets. In June 2023, the countries with the highest prices were Australia ($7,255 per ton) and Belgium ($6,866 per ton), while the average price for exports to Nigeria ($5,867 per ton) and Canada ($6,442 per ton) were amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+2.5%), 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 Morocco (CIF) - 2022
The average import price for spices; mixtures of 2 or more products of the same heading stood at $1,207 per ton in 2022, waning by -12.8% against the previous year. Overall, import price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +4.4% 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 +29.2% against 2016 indices. The pace of growth was the most pronounced in 2015 when the average import price increased by 49%. As a result, import price attained the peak level of $1,422 per ton. From 2016 to 2022, the average import prices remained at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Turkey ($2,264 per ton), while the price for Tunisia ($1,054 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Tunisia (+6.9%), 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 Morocco
In 2022, exports of spices; mixtures of 2 or more products of the same heading from Morocco fell to 1.7K tons, reducing by -10.9% against the previous year. In general, exports continue to indicate a abrupt curtailment. The smallest decline of -4.4% was in 2020.
In value terms, exports of spices; mixtures of 2 or more products of the same heading rose slightly to $9.1M in 2022. The total export value increased at an average annual rate of +8.5% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 26%. Over the period under review, the exports of spices; mixtures of 2 or more products of same heading attained the peak figure in 2022 and are expected to retain growth in the near future.
| Export of Spices; Mixtures of 2 or More Products of the Same Heading in Morocco (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Nigeria | 3,059 | 2,751 | 3,662 | 3,907 | 8.5% |
| Sri Lanka | N/A | 158 | 70.6 | 949 | 145.1% |
| Turkey | 399 | 118 | 403 | 847 | 28.5% |
| China | 125 | 273 | 332 | 470 | 55.5% |
| Canada | 242 | 173 | 286 | 409 | 19.1% |
| United Kingdom | 236 | 428 | 499 | 349 | 13.9% |
| Japan | 124 | 160 | 946 | 275 | 30.4% |
| Belgium | 111 | 126 | 172 | 268 | 34.2% |
| Spain | 102 | 170 | 222 | 239 | 32.8% |
| Australia | 194 | 296 | 476 | 220 | 4.3% |
| Germany | 132 | 118 | 192 | 159 | 6.4% |
| United States | 1,034 | 1,568 | 560 | 146 | -47.9% |
| Italy | 113 | 165 | 175 | 141 | 7.7% |
| Others | 1,285 | 672 | 1,016 | 769 | -15.7% |
| Total | 7,157 | 7,176 | 9,009 | 9,147 | 8.5% |
Top Export Markets for Spices; Mixtures of 2 or More Products of the Same Heading from Morocco in 2022:
- Nigeria (727.6 tons)
- Sri Lanka (200.0 tons)
- Turkey (140.3 tons)
- Japan (118.4 tons)
- China (84.9 tons)
- United Kingdom (66.8 tons)
- Canada (65.0 tons)
- Belgium (46.8 tons)
- Spain (45.3 tons)
- Germany (32.1 tons)
- Australia (31.5 tons)
- Italy (28.6 tons)
- United States (24.0 tons)
Imports of Spices; Mixtures of 2 or More Products of the Same Heading in Morocco
Imports of spices; mixtures of 2 or more products of the same heading into Morocco surged to 5.4K tons in 2022, growing by 131% compared with the year before. In general, imports recorded significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 178%. Over the period under review, imports of spices; mixtures of 2 or more products of same heading reached the maximum in 2022 and are likely to see steady growth in the near future.
In value terms, imports of spices; mixtures of 2 or more products of the same heading skyrocketed to $6.5M in 2022. Overall, imports showed significant growth. The most prominent rate of growth was recorded in 2020 when imports increased by 129%. Over the period under review, imports of spices; mixtures of 2 or more products of same heading reached the peak figure in 2022 and are expected to retain growth in years to come.
| Import of Spices; Mixtures of 2 or More Products of the Same Heading in Morocco (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Tunisia | 265 | 511 | 1,306 | 3,925 | 145.6% |
| Egypt | 3.7 | 59.4 | 753 | 978 | 541.8% |
| India | 197 | 820 | 625 | 903 | 66.1% |
| Turkey | 164 | 183 | 180 | 243 | 14.0% |
| Others | 303 | 565 | 366 | 470 | 15.8% |
| Total | 933 | 2,139 | 3,231 | 6,519 | 91.2% |
Top Suppliers of Spices; Mixtures of 2 or More Products of the Same Heading to Morocco in 2022:
- Tunisia (3.7K tons)
- Egypt (0.7K tons)
- India (0.7K tons)
- Turkey (0.1K tons)
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