Price for Spices; Vanilla, Not Crushed or Ground in Latvia - 2023
Contents:
- Price for Spices; Vanilla, Not Crushed or Ground in Latvia (FOB) - 2022
- Price for Spices; Vanilla, Not Crushed or Ground in Latvia (CIF) - 2022
- Exports of Spices; Vanilla, Not Crushed or Ground in Latvia
- Imports of Spices; Vanilla, Not Crushed or Ground in Latvia
Price for Spices; Vanilla, Not Crushed or Ground in Latvia (FOB) - 2022
In 2022, the average export price for vanilla amounted to $242,183 per ton, waning by -11.9% against the previous year. Overall, the export price, however, showed a buoyant expansion. The pace of growth appeared the most rapid in 2016 when the average export price increased by 146%. Over the period under review, the average export prices reached the maximum at $467,814 per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($417,667 per ton), while the average price for exports to Kyrgyzstan ($183,857 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 Lithuania (+19.7%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Spices; Vanilla, Not Crushed or Ground in Latvia (CIF) - 2022
In 2022, the average import price for vanilla amounted to $162,795 per ton, declining by -7.7% against the previous year. Overall, the import price, however, posted a buoyant expansion. The growth pace was the most rapid in 2017 an increase of 98%. The import price peaked at $481,421 per ton in 2018; however, from 2019 to 2022, import prices stood 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 Estonia ($497,500 per ton), while the price for Italy ($10,854 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Madagascar (+33.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Spices; Vanilla, Not Crushed or Ground in Latvia
In 2022, the amount of vanilla exported from Latvia surged to 131 kg, picking up by 27% compared with 2021 figures. Over the period under review, total exports indicated significant growth from 2019 to 2022: its volume increased at an average annual rate of +25.0% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +95.5% against 2019 indices. The pace of growth appeared the most rapid in 2020 when exports increased by 57%. Over the period under review, the exports of reached the maximum in 2022 and are expected to retain growth in the near future.
In value terms, exports of vanilla stood at $32K in 2022. Overall, total exports indicated a significant increase from 2019 to 2022: its value increased at an average annual rate of +22.1% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -8.9% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 99.9% against the previous year. As a result, the exports reached the peak of $35K. From 2021 to 2022, the growth of the exports of remained at a lower figure.
| Export of Spices; Vanilla, Not Crushed or Ground in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Estonia | 11.8 | 17.4 | 13.5 | 15.4 | 9.3% |
| Lithuania | 4.8 | 5.3 | 12.4 | 8.6 | 21.5% |
| Kyrgyzstan | N/A | N/A | N/A | 3.9 | 0% |
| Russia | N/A | 11.1 | 2.3 | 2.5 | -52.5% |
| Ukraine | N/A | N/A | N/A | 1.3 | 0% |
| Others | 0.8 | 1.1 | 0.1 | N/A | -64.6% |
| Total | 17.4 | 34.8 | 28.3 | 31.7 | 22.1% |
Top Export Markets for Spices; Vanilla, Not Crushed or Ground from Latvia in 2022:
- Estonia (77.0 kg)
- Lithuania (22.0 kg)
- Kyrgyzstan (21.0 kg)
- Russia (6.0 kg)
- Ukraine (5.0 kg)
Imports of Spices; Vanilla, Not Crushed or Ground in Latvia
In 2022, overseas purchases of vanilla increased by 15% to 132 kg for the first time since 2019, thus ending a two-year declining trend. In general, imports, however, recorded a deep slump.
In value terms, imports of vanilla stood at $21K in 2022. Overall, imports, however, recorded a significant decline.
| Import of Spices; Vanilla, Not Crushed or Ground in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| France | 30.4 | 7.6 | 5.8 | 10.6 | -29.6% |
| Lithuania | 2.2 | 2.3 | 2.7 | 6.0 | 39.7% |
| Germany | 2.2 | 6.3 | 6.2 | 3.0 | 10.9% |
| Estonia | 1.8 | 1.5 | 1.1 | 1.0 | -17.8% |
| Madagascar | N/A | N/A | 4.6 | 0.4 | -91.3% |
| Italy | 0.2 | N/A | N/A | 0.4 | 26.0% |
| Uganda | N/A | 7.0 | N/A | N/A | 0% |
| United Kingdom | 6.8 | 2.9 | N/A | N/A | -57.4% |
| Others | 2.5 | N/A | N/A | N/A | 0% |
| Total | 46.2 | 27.5 | 20.3 | 21.5 | -22.5% |
Top Suppliers of Spices; Vanilla, Not Crushed or Ground to Latvia in 2022:
- France (46.0 kg)
- Italy (41.0 kg)
- Lithuania (25.0 kg)
- Germany (15.0 kg)
- Madagascar (3.0 kg)
- Estonia (2.0 kg)
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This report provides an in-depth analysis of the vanilla market in Latvia.
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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 Latvia.
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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
