Price for Spices; Mixtures of 2 or More Products of the Same Heading in Saudi Arabia - 2022
Contents:
- Price for Spices; Mixtures of 2 or More Products of the Same Heading in Saudi Arabia (FOB) - 2022
- Price for Spices; Mixtures of 2 or More Products of the Same Heading in Saudi Arabia (CIF) - 2022
- Exports of Spices; Mixtures of 2 or More Products of the Same Heading in Saudi Arabia
- Imports of Spices; Mixtures of 2 or More Products of the Same Heading in Saudi Arabia
Price for Spices; Mixtures of 2 or More Products of the Same Heading in Saudi Arabia (FOB) - 2022
The average export price for spices; mixtures of 2 or more products of the same heading stood at $4,042 per ton in 2021, jumping by 17% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the average export price increased by 22% against the previous year. The export price peaked at $4,127 per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.
There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Yemen ($5,838 per ton), while the average price for exports to Syrian Arab Republic ($2,599 per ton) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Jordan (+20.4%), 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 Saudi Arabia (CIF) - 2022
In 2021, the average import price for spices; mixtures of 2 or more products of the same heading amounted to $4,247 per ton, approximately equating the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +5.2%. The pace of growth was the most pronounced in 2013 when the average import price increased by 23% against the previous year. Over the period under review, average import prices hit record highs at $4,800 per ton in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Indonesia ($11,459 per ton), while the price for India ($2,049 per ton) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Syrian Arab Republic (+18.9%), 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 Saudi Arabia
For the fourth year in a row, Saudi Arabia recorded growth in overseas shipments of spices; mixtures of 2 or more products of the same heading, which increased by 14% to 291 tons in 2022. Overall, exports enjoyed a significant increase. The pace of growth was the most pronounced in 2021 when exports increased by 87% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in years to come.
In value terms, exports of spices; mixtures of 2 or more products of the same heading soared to $1.3M in 2022. In general, exports enjoyed a significant expansion. The growth pace was the most rapid in 2021 when exports increased by 115%. 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 Saudi Arabia (Thousand USD) | ||||
|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | CAGR, 2019-2021 |
| Yemen | N/A | 171 | 1,026 | 500.0% |
| Jordan | 134 | 313 | 361 | 64.1% |
| United Arab Emirates | 136 | 100 | 349 | 60.2% |
| Egypt | 1,539 | 1,185 | 283 | -57.1% |
| Bahrain | 62.0 | 157 | 251 | 101.2% |
| Kuwait | 41.5 | 230 | 208 | 123.9% |
| Iraq | 8.8 | 37.0 | 82.5 | 206.2% |
| Lebanon | N/A | N/A | 76.0 | 0% |
| Others | -1,508.2 | -1,720.9 | -1,621.8 | 3.7% |
| Total | 413 | 473 | 1,015 | 56.8% |
Top Export Markets for Spices; Mixtures of 2 or More Products of the Same Heading from Saudi Arabia in 2022:
- Yemen (175.8 tons)
- Jordan (100.0 tons)
- United Arab Emirates (92.6 tons)
- Bahrain (90.5 tons)
- Egypt (56.8 tons)
- Kuwait (36.2 tons)
- Lebanon (26.1 tons)
- Iraq (15.7 tons)
Imports of Spices; Mixtures of 2 or More Products of the Same Heading in Saudi Arabia
After two years of growth, overseas purchases of spices; mixtures of 2 or more products of the same heading decreased by -2.8% to 23K tons in 2021. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 4.8%. As a result, imports reached the peak of 24K tons, and then fell in the following year.
In value terms, imports of spices; mixtures of 2 or more products of the same heading declined modestly to $98M in 2021. Over the period under review, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 when imports increased by 4.3% against the previous year. As a result, imports reached the peak of $101M, and then declined modestly in the following year.
| Import of Spices; Mixtures of 2 or More Products of the Same Heading in Saudi Arabia (Million USD) | ||||
|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | CAGR, 2019-2021 |
| Indonesia | 32.8 | 31.7 | 38.2 | 7.9% |
| Pakistan | 19.8 | 17.7 | 10.4 | -27.5% |
| India | 7.4 | 7.0 | 8.7 | 8.4% |
| Jordan | 6.6 | 5.7 | 8.6 | 14.2% |
| Bangladesh | 5.8 | 7.4 | 6.9 | 9.1% |
| United States | 7.0 | 11.6 | 6.4 | -4.4% |
| Syrian Arab Republic | 3.1 | 3.2 | 4.5 | 20.5% |
| China | 1.7 | 0.9 | 1.8 | 2.9% |
| Palestine | 1.2 | 1.6 | 1.7 | 19.0% |
| Thailand | 1.9 | 1.3 | 0.9 | -31.2% |
| Myanmar | 1.0 | 1.3 | 0.5 | -29.3% |
| Others | 8.3 | 11.4 | 9.5 | 7.0% |
| Total | 96.6 | 101 | 98.1 | 0.8% |
Top Suppliers of Spices; Mixtures of 2 or More Products of the Same Heading to Saudi Arabia in 2022:
- India (4.2K tons)
- Jordan (3.6K tons)
- Indonesia (3.3K tons)
- Pakistan (2.9K tons)
- Bangladesh (2.5K tons)
- Syrian Arab Republic (1.3K tons)
- United States (1.1K tons)
- China (0.7K tons)
- Palestine (0.5K tons)
- Thailand (0.4K tons)
- Myanmar (0.3K tons)
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