Spices; Mixtures Price in India - 2023
Contents:
- Spices; Mixtures Price in India (FOB) - 2023
- Spices; Mixtures Price in India (CIF) - 2023
- Spices; Mixtures Exports in India
- Spices; Mixtures Imports in India
Spices; Mixtures Price in India (FOB) - 2023
In July 2023, the average spices; mixtures export price amounted to $3,683 per ton, increasing by 7.8% against the previous month. Overall, the export price recorded a relatively flat trend pattern. Over the period under review, the average export prices reached the peak figure at $3,859 per ton in August 2022; however, from September 2022 to July 2023, the export prices remained at a lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was Canada ($6,610 per ton), while the average price for exports to Ghana ($1,576 per ton) was amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to Iraq (+6.3%), while the prices for the other major destinations experienced more modest paces of growth.
Spices; Mixtures Price in India (CIF) - 2023
In July 2023, the average spices; mixtures import price amounted to $5,009 per ton, falling by -33.5% against the previous month. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in December 2022 when the average import price increased by 25% m-o-m. Over the period under review, average import prices attained the maximum at $7,775 per ton in February 2023; however, from March 2023 to July 2023, import prices remained at a lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was the United Arab Emirates ($7,646 per ton), while the price for Nigeria ($2,959 per ton) was amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Oman (+10.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Spices; Mixtures Exports in India
In 2022, overseas shipments of spices; mixtureses decreased by -1.4% to 25K tons for the first time since 2018, thus ending a three-year rising trend. The total export volume increased at an average annual rate of +3.8% over the period from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 11%.
In value terms, spices; mixtures exports rose significantly to $88M in 2022. The total export value increased at an average annual rate of +7.1% from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 when exports increased by 15%. Over the period under review, the exports attained the maximum in 2022 and are likely to see gradual growth in the immediate term.
| Export of Spices; Mixtures in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Arab Emirates | 8.0 | 10.1 | 8.3 | 12.4 | 15.7% |
| United States | 9.1 | 13.2 | 12.7 | 11.9 | 9.4% |
| Saudi Arabia | 8.0 | 8.1 | 5.8 | 8.0 | 0.0% |
| United Kingdom | 6.7 | 6.9 | 7.1 | 5.7 | -5.2% |
| Nigeria | 7.5 | 6.6 | 7.0 | 4.9 | -13.2% |
| Canada | 2.7 | 3.7 | 4.5 | 4.8 | 21.1% |
| Australia | 3.4 | 4.4 | 4.0 | 4.6 | 10.6% |
| Qatar | 3.6 | 4.2 | 3.3 | 4.3 | 6.1% |
| Nepal | 2.7 | 2.2 | 3.8 | 3.8 | 12.1% |
| Kuwait | 3.6 | 3.3 | 3.1 | 3.2 | -3.9% |
| Oman | 1.9 | 2.4 | 2.2 | 2.9 | 15.1% |
| South Africa | 1.1 | 2.2 | 1.3 | 2.0 | 22.1% |
| Turkey | 0.4 | 0.5 | 0.4 | 0.5 | 7.7% |
| Others | 12.7 | 14.7 | 18.9 | 19.1 | 14.6% |
| Total | 71.6 | 82.6 | 82.4 | 88.0 | 7.1% |
Top Export Markets for Spices; Mixtures from India in 2022:
- United Arab Emirates (3.1K tons)
- United States (2.4K tons)
- Saudi Arabia (2.2K tons)
- Nigeria (2.2K tons)
- United Kingdom (1.8K tons)
- Qatar (1.0K tons)
- Canada (0.9K tons)
- Australia (0.9K tons)
- Kuwait (0.8K tons)
- Turkey (0.7K tons)
- South Africa (0.7K tons)
- Oman (0.7K tons)
- Nepal (0.7K tons)
Spices; Mixtures Imports in India
In 2022, overseas purchases of spices; mixtureses decreased by -47.5% to 372 tons for the first time since 2018, thus ending a three-year rising trend. Overall, imports, however, posted a significant expansion. The growth pace was the most rapid in 2020 with an increase of 131% against the previous year.
In value terms, spices; mixtures imports amounted to $2.4M in 2022. In general, imports, however, saw a significant expansion. The pace of growth appeared the most rapid in 2020 when imports increased by 302%. As a result, imports attained the peak of $2.8M. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
| Import of Spices; Mixtures in India (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Arab Emirates | 33.0 | 2,020 | 2,166 | 2,148 | 302.3% |
| Italy | 0.2 | N/A | N/A | 94.9 | 680.0% |
| France | 0.1 | N/A | 24.0 | 48.4 | 685.1% |
| Nigeria | N/A | 14.3 | N/A | 32.2 | 50.1% |
| Netherlands | N/A | N/A | 35.1 | 23.4 | -33.3% |
| Vietnam | N/A | N/A | 15.3 | 0.3 | -98.0% |
| Myanmar | 131 | 101 | 67.5 | N/A | -28.2% |
| Pakistan | 432 | N/A | N/A | N/A | 0% |
| Brazil | N/A | 211 | 30.4 | N/A | -85.6% |
| Others | 92.1 | 418 | 13.2 | 32.5 | -29.3% |
| Total | 688 | 2,764 | 2,351 | 2,380 | 51.2% |
Top Suppliers of Spices; Mixtures to India in 2022:
- United Arab Emirates (293.4 tons)
- Italy (21.5 tons)
- Nigeria (20.2 tons)
- France (18.4 tons)
- Netherlands (9.9 tons)
- Vietnam (2.0 tons)
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