Spices; Mixtures Price in Sri Lanka - 2021
Contents:
- Spices; Mixtures Price in Sri Lanka (FOB) - 2022
- Spices; Mixtures Price in Sri Lanka (CIF) - 2022
- Spices; Mixtures Exports in Sri Lanka
- Spices; Mixtures Imports in Sri Lanka
Spices; Mixtures Price in Sri Lanka (FOB) - 2022
In 2022, the average spices; mixtures export price amounted to $5,557 per ton, approximately equating the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the average export price increased by 181%. Over the period under review, the average export prices hit record highs at $6,026 per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($6,802 per ton), while the average price for exports to the United Arab Emirates ($2,701 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 Australia (+3.0%), while the prices for the other major destinations experienced more modest paces of growth.
Spices; Mixtures Price in Sri Lanka (CIF) - 2022
In 2022, the average spices; mixtures import price amounted to $1,606 per ton, with a decrease of -48.3% against the previous year. Over the period under review, the import price continues to indicate a deep slump. The most prominent rate of growth was recorded in 2016 when the average import price increased by 29%. Over the period under review, average import prices attained the peak figure at $4,913 per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($2,569 per ton), while the price for China ($901 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+7.4%), while the prices for the other major suppliers experienced mixed trend patterns.
Spices; Mixtures Exports in Sri Lanka
For the fourth year in a row, Sri Lanka recorded growth in overseas shipments of spices; mixtureses, which increased by 0.9% to 166 tons in 2022. The total export volume increased at an average annual rate of +8.5% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 23%. The exports peaked in 2022 and are expected to retain growth in years to come.
In value terms, spices; mixtures exports totaled $924K in 2022. The total export value increased at an average annual rate of +9.2% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when exports increased by 15% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the near future.
| Export of Spices; Mixtures in Sri Lanka (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Kingdom | 67.5 | 48.6 | 58.2 | 187 | 40.4% |
| Australia | 97.8 | 90.4 | 89.7 | 147 | 14.5% |
| Canada | 75.3 | 136 | 164 | 114 | 14.8% |
| Japan | 26.3 | 34.8 | 52.8 | 96.7 | 54.3% |
| Germany | 92.1 | 88.9 | 92.3 | 64.2 | -11.3% |
| France | 125 | 94.8 | 69.1 | 55.2 | -23.8% |
| Maldives | 27.4 | 17.3 | 31.0 | 47.5 | 20.1% |
| United States | 35.4 | 32.3 | 31.7 | 43.4 | 7.0% |
| United Arab Emirates | 45.2 | 48.2 | 148 | 23.7 | -19.4% |
| Oman | 29.9 | 108 | 54.0 | 1.5 | -63.1% |
| Others | 87.8 | 117 | 133 | 144 | 17.9% |
| Total | 709 | 816 | 923 | 924 | 9.2% |
Top Export Markets for Spices; Mixtures from Sri Lanka in 2022:
- United Kingdom (41.4 tons)
- Australia (27.3 tons)
- Canada (24.8 tons)
- Maldives (15.1 tons)
- Japan (14.2 tons)
- United Arab Emirates (8.8 tons)
- United States (7.5 tons)
- Germany (7.2 tons)
- France (4.2 tons)
- Oman (1.1 tons)
Spices; Mixtures Imports in Sri Lanka
In 2022, imports of spices; mixtureses into Sri Lanka declined rapidly to 85 tons, waning by -62.8% against the previous year. Overall, imports showed a abrupt downturn. The most prominent rate of growth was recorded in 2021 when imports increased by 87%. As a result, imports attained the peak of 228 tons, and then declined sharply in the following year.
In value terms, spices; mixtures imports dropped notably to $136K in 2022. Over the period under review, imports recorded a precipitous decline. The growth pace was the most rapid in 2021 when imports increased by 18% against the previous year. As a result, imports attained the peak of $708K, and then reduced markedly in the following year.
| Import of Spices; Mixtures in Sri Lanka (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 509 | 460 | 529 | 66.9 | -49.2% |
| Turkey | N/A | N/A | N/A | 62.9 | 0% |
| China | N/A | N/A | N/A | 5.8 | 0% |
| Egypt | 42.1 | N/A | N/A | N/A | 0% |
| Pakistan | 133 | 125 | 167 | N/A | 12.1% |
| Others | 2.7 | 13.3 | 13.0 | 0.5 | -43.0% |
| Total | 686 | 598 | 708 | 136 | -41.7% |
Top Suppliers of Spices; Mixtures to Sri Lanka in 2022:
- Turkey (52.0 tons)
- India (26.0 tons)
- China (6.5 tons)
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