Price for Spices; Vanilla, Crushed or Ground in Vietnam - 2021
Contents:
- Price for Spices; Vanilla, Crushed or Ground in Vietnam (FOB) - 2022
- Price for Spices; Vanilla, Crushed or Ground in Vietnam (CIF) - 2022
- Exports of Spices; Vanilla, Crushed or Ground in Vietnam
- Imports of Spices; Vanilla, Crushed or Ground in Vietnam
Price for Spices; Vanilla, Crushed or Ground in Vietnam (FOB) - 2022
The average export price for spices; vanilla, crushed or ground stood at $13,099 per ton in 2022, declining by -2.9% against the previous year. Overall, the export price saw a abrupt decline. The most prominent rate of growth was recorded in 2021 when the average export price increased by 35%. The export price peaked at $42,308 per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Australia ($46,818 per ton), while the average price for exports to Singapore ($6,667 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 Saudi Arabia (+66.9%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Spices; Vanilla, Crushed or Ground in Vietnam (CIF) - 2022
The average import price for spices; vanilla, crushed or ground stood at $37,878 per ton in 2022, picking up by 31% against the previous year. Overall, the import price recorded a buoyant expansion. The most prominent rate of growth was recorded in 2021 when the average import price increased by 96%. The import price peaked in 2022 and is expected to retain growth in the immediate term.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($193,559 per ton), while the price for South Korea ($3,278 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+109.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Spices; Vanilla, Crushed or Ground in Vietnam
In 2022, after three years of growth, there was significant decline in overseas shipments of spices; vanilla, crushed or ground, when their volume decreased by -19% to 353 kg. Overall, total exports indicated a buoyant expansion from 2019 to 2022: its volume increased at an average annual rate of +11.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +36.8% against 2019 indices. The pace of growth was the most pronounced in 2020 with an increase of 30% against the previous year.
In value terms, spices; vanilla, crushed or ground exports reduced notably to $4.6K in 2022. In general, exports, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 75%.
| Export of Spices; Vanilla, Crushed or Ground in Vietnam (USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 208 | 655 | 459 | 3,441 | 154.8% |
| Australia | 67.0 | 237 | 215 | 515 | 97.4% |
| Singapore | 11.0 | 45.0 | 36.0 | 40.0 | 53.8% |
| France | 1,586 | N/A | 8.0 | N/A | -92.9% |
| Saudi Arabia | N/A | 2,149 | 4,845 | N/A | 125.5% |
| Others | 52.0 | 278 | 317 | 628 | 129.4% |
| Total | 1,924 | 3,364 | 5,880 | 4,624 | 33.9% |
Top Export Markets for Spices; Vanilla, Crushed or Ground from Vietnam in 2022:
- United States (325.0 kg)
- Australia (11.0 kg)
- Singapore (6.0 kg)
Imports of Spices; Vanilla, Crushed or Ground in Vietnam
For the third consecutive year, Vietnam recorded decline in purchases abroad of spices; vanilla, crushed or ground, which decreased by -14.3% to 1.1 tons in 2022. Over the period under review, imports faced a dramatic shrinkage.
In value terms, spices; vanilla, crushed or ground imports expanded notably to $41K in 2022. Overall, imports continue to indicate a abrupt descent.
| Import of Spices; Vanilla, Crushed or Ground in Vietnam (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 24.5 | 33.7 | 13.8 | 22.4 | -2.9% |
| United States | 14.7 | 5.0 | 16.7 | 13.2 | -3.5% |
| France | 4.4 | 3.0 | 2.4 | 2.3 | -19.4% |
| South Korea | 1.2 | 1.8 | 1.9 | 1.7 | 12.3% |
| Taiwan (Chinese) | 0.7 | 1.1 | 1.2 | 1.1 | 16.3% |
| United Kingdom | 4.9 | N/A | N/A | N/A | 0% |
| Others | 0.9 | 0.8 | 0.7 | 0.4 | -23.7% |
| Total | 51.2 | 45.5 | 36.8 | 41.1 | -7.1% |
Top Suppliers of Spices; Vanilla, Crushed or Ground to Vietnam in 2022:
- South Korea (526.0 kg)
- Germany (432.0 kg)
- United States (68.0 kg)
- Taiwan (Chinese) (23.0 kg)
- France (20.0 kg)
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This report provides an in-depth analysis of the vanilla market in Vietnam.
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This report provides an in-depth analysis of the global vanilla market.
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This report provides an in-depth analysis of the vanilla market in Vietnam.
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This report provides an in-depth analysis of the global vanilla market.
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In 2016, the vanilla market dropped to X tons, caused by the reduction of global vanilla production due to harvest cuts in Madagascar and Indonesia. At the same time, demand for vanilla continues to grow against the backdrop of growing demand from
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Global vanilla consumption amounted to X thousand tons in 2015, stabilizing at the previous year level.
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In 2015, global consumption of vanilla amounted to X tons, standing approx. at the 2014 level. One year before there was a fall by X% caused by the reduction of vanilla production in Indonesia; from 2007 to 2013, va
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The value of total imports on the global vanilla market in 2015 stood at X million USD. There was an annual increase of +X% for the period from 2007 to 2015. In physical terms, imports of vanilla reached X tons i
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From 2007 to 2015, global exports of vanilla grew by +X% per year, amounting to X million USD in 2015. In physical terms, exports on the global vanilla market reached X tons in 2015, which was X tons (or X%) more than the year before.
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The global production of vanilla was estimated at X tons in 2015, an increase of X tons against the figure for 2013, and X tons (or X%) less than the peak production level recorded in 2011.
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From 2007 to 2015, global vanilla market consumption decreased by -X% annually. The highest annual rates of growth in terms of vanilla consumption between 2007 and 2015 were registered in India, with a +X% growth, due to the increased number of va
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Although widely considered a standard commodity, vanilla requires highly labor-intensive methods of cultivation that make it the second most expensive spice in the world, surpassed only by saffron.
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France dominates in the global vanilla trade. In 2014, France exported X thousand tons of vanilla totaling X million USD, X% over the previous year. Its primary trading partner was Germany, where it supplied X% of its total vanilla exports in val
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In 2016, the vanilla market dropped to X tons, caused by the reduction of global vanilla production due to harvest cuts in Madagascar and Indonesia. At the same time, demand for vanilla continues to grow against the backdrop of growing demand from
