Price for Spices; Mixtures of 2 or More Products of the Same Heading in Ukraine - 2023
Contents:
- Price for Spices; Mixtures of 2 or More Products of the Same Heading in Ukraine (CIF) - 2023
- Price for Spices; Mixtures of 2 or More Products of the Same Heading in Ukraine (FOB) - 2022
- Imports of Spices; Mixtures of 2 or More Products of the Same Heading in Ukraine
- Exports of Spices; Mixtures of 2 or More Products of the Same Heading in Ukraine
Price for Spices; Mixtures of 2 or More Products of the Same Heading in Ukraine (CIF) - 2023
In November 2023, the average import price for spices; mixtures of 2 or more products of the same heading amounted to $3,582 per ton, jumping by 93% against the previous month. In general, import price indicated a measured increase from November 2022 to November 2023: its price increased at an average monthly rate of +2.5% 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, import price for spices; mixtures of 2 or more products of the same heading increased by +92.9% against October 2023 indices. Over the period under review, average import prices hit record highs at $4,156 per ton in July 2023; however, from August 2023 to November 2023, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In November 2023, the country with the highest price was Turkey ($4,319 per ton), while the price for Egypt ($1,440 per ton) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by Georgia (+4.7%), 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 Ukraine (FOB) - 2022
The average export price for spices; mixtures of 2 or more products of the same heading stood at $5,033 per ton in 2022, rising by 5.1% against the previous year. In general, the export price posted temperate growth. The pace of growth was the most pronounced in 2019 when the average export price increased by 179%. As a result, the export price reached the peak level of $5,920 per ton. From 2020 to 2022, the average export prices remained at a lower figure.
There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Georgia ($27,322 per ton), while the average price for exports to Hungary ($2,503 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 Georgia (+54.3%), 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 Ukraine
In 2022, overseas purchases of spices; mixtures of 2 or more products of the same heading decreased by -13.6% to 953 tons for the first time since 2018, thus ending a three-year rising trend. In general, imports recorded a slight decrease. The most prominent rate of growth was recorded in 2020 when imports increased by 11%.
In value terms, imports of spices; mixtures of 2 or more products of the same heading fell to $2.5M in 2022. The total import value increased at an average annual rate of +3.0% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth was the most pronounced in 2020 with an increase of 6.9% against the previous year.
| Import of Spices; Mixtures of 2 or More Products of the Same Heading in Ukraine (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Georgia | 1,340 | 1,423 | 1,175 | 1,136 | -5.4% |
| Turkey | 375 | 142 | 399 | 765 | 26.8% |
| India | 158 | 179 | 300 | 210 | 9.9% |
| Egypt | 61.2 | 72.3 | 111 | 81.9 | 10.2% |
| Lebanon | N/A | N/A | N/A | 38.6 | 0% |
| Others | 326 | 601 | 581 | 237 | -10.1% |
| Total | 2,261 | 2,417 | 2,566 | 2,468 | 3.0% |
Top Suppliers of Spices; Mixtures of 2 or More Products of the Same Heading to Ukraine in 2022:
- Georgia (555.6 tons)
- Turkey (188.3 tons)
- India (107.6 tons)
- Egypt (55.5 tons)
- Lebanon (16.0 tons)
Exports of Spices; Mixtures of 2 or More Products of the Same Heading in Ukraine
In 2022, shipments abroad of spices; mixtures of 2 or more products of the same heading decreased by -24.5% to 58 tons, falling for the second consecutive year after two years of growth. Over the period under review, exports, however, showed prominent growth. The most prominent rate of growth was recorded in 2020 when exports increased by 191% against the previous year. As a result, the exports reached the peak of 104 tons. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.
In value terms, exports of spices; mixtures of 2 or more products of the same heading contracted significantly to $291K in 2022. Overall, total exports indicated strong growth from 2019 to 2022: its value increased at an average annual rate of +11.2% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +37.4% against 2019 indices. The pace of growth appeared the most rapid in 2021 when exports increased by 36% against the previous year. As a result, the exports attained the peak of $367K, and then shrank dramatically in the following year.
| Export of Spices; Mixtures of 2 or More Products of the Same Heading in Ukraine (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Moldova | 93.3 | 107 | 102 | 103 | 3.4% |
| India | 0.2 | 29.6 | 37.6 | 77.4 | 628.7% |
| Latvia | 2.8 | 7.0 | 5.8 | 38.3 | 139.2% |
| Germany | 4.8 | 10.2 | 30.8 | 33.8 | 91.7% |
| Spain | N/A | N/A | N/A | 12.7 | 0% |
| Hungary | N/A | N/A | 5.1 | 7.5 | 47.1% |
| Russia | 30.9 | 27.0 | 27.5 | 5.3 | -44.4% |
| Georgia | 1.2 | 49.0 | 13.9 | 2.4 | 26.0% |
| Belarus | 38.7 | 21.6 | 86.7 | N/A | 49.7% |
| Others | 40.1 | 19.0 | 58.1 | 11.4 | -34.2% |
| Total | 212 | 270 | 367 | 291 | 11.1% |
Top Export Markets for Spices; Mixtures of 2 or More Products of the Same Heading from Ukraine in 2022:
- India (18.7 tons)
- Moldova (16.2 tons)
- Latvia (12.3 tons)
- Germany (3.1 tons)
- Hungary (3.0 tons)
- Spain (2.8 tons)
- Russia (1.0 tons)
- Georgia (0.1 tons)
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