Price for Spices; Vanilla, Not Crushed or Ground in the United States - 2023
Contents:
- Price for Spices; Vanilla, Not Crushed or Ground in the United States (CIF) - 2023
- Price for Spices; Vanilla, Not Crushed or Ground in the United States (FOB) - 2023
- Imports of Spices; Vanilla, Not Crushed or Ground in the United States
- Exports of Spices; Vanilla, Not Crushed or Ground in the United States
Price for Spices; Vanilla, Not Crushed or Ground in the United States (CIF) - 2023
In December 2023, the average import price for vanilla amounted to $88,468 per ton, increasing by 36% against the previous month. Overall, the import price, however, recorded a perceptible downturn. Over the period under review, average import prices attained the maximum at $210K per ton in April 2023; however, from May 2023 to December 2023, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In December 2023, the country with the highest price was India ($132K per ton), while the price for Uganda ($53,647 per ton) was amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by India (+2.0%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Spices; Vanilla, Not Crushed or Ground in the United States (FOB) - 2023
In December 2023, the average export price for vanilla amounted to $37,644 per ton, surging by 11% against the previous month. Over the period under review, the export price, however, recorded a noticeable contraction. The pace of growth was the most pronounced in July 2023 an increase of 87% month-to-month. As a result, the export price reached the peak level of $59,790 per ton. From August 2023 to December 2023, the the average export prices remained at a somewhat lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was the Netherlands ($44,529 per ton), while the average price for exports to South Korea ($25,423 per ton) was amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+14.8%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Spices; Vanilla, Not Crushed or Ground in the United States
In 2022, approx. 1.9K tons of vanilla were imported into the United States; surging by 9.2% against the year before. Over the period under review, total imports indicated a strong increase from 2019 to 2022: its volume increased at an average annual rate of +13.4% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +45.7% 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 hit record highs in 2022 and are expected to retain growth in the near future.
In value terms, imports of vanilla expanded sharply to $339M in 2022. Overall, imports, however, continue to indicate a abrupt decline.
| Import of Spices; Vanilla, Not Crushed or Ground in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Madagascar | 418 | 289 | 248 | 278 | -12.7% |
| Indonesia | 62.2 | 51.7 | 38.3 | 24.2 | -27.0% |
| Uganda | 16.1 | 10.5 | 12.3 | 20.9 | 9.1% |
| India | 15.8 | 8.5 | 3.9 | 4.7 | -33.2% |
| Papua New Guinea | 7.1 | 4.4 | 4.4 | 4.0 | -17.4% |
| Others | 2.0 | 3.9 | 6.9 | 7.5 | 55.4% |
| Total | 521 | 368 | 314 | 339 | -13.3% |
Top Suppliers of Spices; Vanilla, Not Crushed or Ground to the United States in 2022:
- Madagascar (1404.5 tons)
- Indonesia (199.8 tons)
- Uganda (172.1 tons)
- Papua New Guinea (38.4 tons)
- India (36.2 tons)
Exports of Spices; Vanilla, Not Crushed or Ground in the United States
For the third consecutive year, the United States recorded decline in shipments abroad of vanilla, which decreased by -20.7% to 196 tons in 2022. Overall, exports recorded a abrupt downturn. The smallest decline of -12.9% was in 2020.
In value terms, exports of vanilla declined notably to $7.6M in 2022. In general, exports saw a significant curtailment. The smallest decline of -11.8% was in 2021.
| Export of Spices; Vanilla, Not Crushed or Ground in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 4.4 | 4.7 | 2.9 | 2.9 | -13.0% |
| France | 5.9 | 2.9 | 2.2 | 2.0 | -30.3% |
| Japan | 1.1 | 0.9 | 0.6 | 1.3 | 5.7% |
| Netherlands | 0.6 | N/A | 1.3 | 0.6 | 0.0% |
| Jamaica | N/A | N/A | 0.1 | 0.1 | 0.0% |
| Bahamas | N/A | N/A | N/A | 0.1 | 0% |
| Germany | 0.6 | 0.1 | 0.9 | 0.1 | -45.0% |
| Switzerland | 0.6 | 0.5 | 0.1 | 0.1 | -45.0% |
| India | 0.8 | 0.1 | N/A | N/A | -87.5% |
| Madagascar | 3.4 | 0.3 | 0.1 | N/A | -82.9% |
| Others | 1.8 | 1.4 | 1.4 | 0.4 | -39.4% |
| Total | 19.3 | 10.9 | 9.6 | 7.6 | -26.7% |
Top Export Markets for Spices; Vanilla, Not Crushed or Ground from the United States in 2022:
- Canada (81.8 tons)
- France (42.6 tons)
- Japan (35.4 tons)
- Netherlands (11.2 tons)
- Jamaica (4.5 tons)
- Bahamas (3.7 tons)
- Switzerland (1.6 tons)
- Germany (1.1 tons)
- Madagascar (0.5 tons)
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This report provides an in-depth analysis of the vanilla market in the U.S..
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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 the U.S..
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This report provides an in-depth analysis of the global vanilla market.
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In February 2023, the price of vanilla stood at $159 per kg (CIF US), an increase of 9.7% from the previous month.
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The average import vanilla price per ton stood at $186,720 in Apr 2022, dropping by -9% against the previous month.
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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.
