Price for Spices; Mixtures of 2 or More Products of the Same Heading in Serbia - 2023
Contents:
- Price for Spices; Mixtures of 2 or More Products of the Same Heading in Serbia (CIF) - 2022
- Price for Spices; Mixtures of 2 or More Products of the Same Heading in Serbia (FOB) - 2022
- Imports of Spices; Mixtures of 2 or More Products of the Same Heading in Serbia
- Exports of Spices; Mixtures of 2 or More Products of the Same Heading in Serbia
Price for Spices; Mixtures of 2 or More Products of the Same Heading in Serbia (CIF) - 2022
The average import price for spices; mixtures of 2 or more products of the same heading stood at $4,838 per ton in 2022, falling by -1.8% against the previous year. Overall, import price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of +5.2% 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 +21.0% against 2020 indices. The growth pace was the most rapid in 2018 an increase of 57% against the previous year. As a result, import price reached the peak level of $5,799 per ton. From 2019 to 2022, the average import prices remained at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($17,758 per ton), while the price for China ($665 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+31.9%), 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 Serbia (FOB) - 2022
In 2022, the average export price for spices; mixtures of 2 or more products of the same heading amounted to $6,193 per ton, which is down by -40.9% against the previous year. In general, export price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 an increase of 66%. Over the period under review, the average export prices reached the maximum at $10,477 per ton in 2021, and then dropped markedly in the following year.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Montenegro ($18,130 per ton), while the average price for exports to Germany ($1,391 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bosnia and Herzegovina (+6.0%), 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 Serbia
For the fourth consecutive year, Serbia recorded growth in overseas purchases of spices; mixtures of 2 or more products of the same heading, which increased by 6.9% to 95 tons in 2022. Over the period under review, total imports indicated a strong increase from 2019 to 2022: its volume increased at an average annual rate of +17.1% 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 +60.4% against 2019 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 47%. Over the period under review, imports of spices; mixtures of 2 or more products of same heading attained the maximum 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 reached $459K in 2022. In general, total imports indicated buoyant growth from 2019 to 2022: its value increased at an average annual rate of +16.0% 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 +56.2% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 26% against the previous year. Over the period under review, imports of spices; mixtures of 2 or more products of same heading attained the maximum in 2022 and are likely to see gradual growth in the near future.
| Import of Spices; Mixtures of 2 or More Products of the Same Heading in Serbia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Turkey | 159 | 246 | 279 | 293 | 22.6% |
| Russia | N/A | N/A | 69.9 | 73.6 | 5.3% |
| Germany | N/A | 1.7 | 1.7 | 33.4 | 343.3% |
| Poland | 59.1 | 29.4 | 31.0 | 23.0 | -27.0% |
| India | 4.1 | 2.7 | 1.5 | 9.0 | 30.0% |
| China | 0.3 | 1.5 | 3.9 | 6.6 | 180.2% |
| Egypt | 26.0 | 35.9 | 22.5 | 3.5 | -48.7% |
| Italy | 30.7 | 2.7 | 1.1 | 0.2 | -81.3% |
| Others | 14.9 | 28.4 | 26.2 | 16.4 | 3.2% |
| Total | 294 | 348 | 437 | 459 | 16.0% |
Top Suppliers of Spices; Mixtures of 2 or More Products of the Same Heading to Serbia in 2022:
- Turkey (64.9 tons)
- China (9.9 tons)
- Russia (7.9 tons)
- India (4.5 tons)
- Egypt (2.0 tons)
- Germany (1.9 tons)
- Poland (1.0 tons)
Exports of Spices; Mixtures of 2 or More Products of the Same Heading in Serbia
In 2022, after two years of decline, there was significant growth in shipments abroad of spices; mixtures of 2 or more products of the same heading, when their volume increased by 97% to 46 tons. In general, exports saw a mild expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, exports of spices; mixtures of 2 or more products of the same heading skyrocketed to $282K in 2022. The total export value increased at an average annual rate of +7.0% from 2019 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Spices; Mixtures of 2 or More Products of the Same Heading in Serbia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Bosnia and Herzegovina | 87.6 | 122 | 120 | 121 | 11.4% |
| Montenegro | 82.4 | 79.2 | 89.3 | 92.6 | 4.0% |
| Germany | N/A | N/A | 1.2 | 31.9 | 2558.3% |
| North Macedonia | 12.1 | 24.8 | 16.8 | 14.1 | 5.2% |
| Croatia | 9.8 | 5.8 | 6.3 | 11.1 | 4.2% |
| Canada | 0.3 | 3.9 | 3.6 | 3.2 | 120.1% |
| Switzerland | 32.0 | N/A | 0.1 | 0.1 | -85.4% |
| Others | 6.0 | 4.4 | 4.9 | 8.7 | 13.2% |
| Total | 230 | 240 | 242 | 282 | 7.0% |
Top Export Markets for Spices; Mixtures of 2 or More Products of the Same Heading from Serbia in 2022:
- Germany (22.9 tons)
- Bosnia and Herzegovina (12.5 tons)
- Montenegro (5.1 tons)
- North Macedonia (1.4 tons)
- Canada (1.0 tons)
- Croatia (0.7 tons)
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