Spices; Mixtures Price in the United States - 2023
Contents:
- Spices; Mixtures Price in the United States (CIF) - 2023
- Spices; Mixtures Price in the United States (FOB) - 2023
- Spices; Mixtures Imports in the United States
- Spices; Mixtures Exports in the United States
Spices; Mixtures Price in the United States (CIF) - 2023
The average spices; mixtures import price stood at $5,530 per ton in July 2023, surging by 2.6% against the previous month. In general, the import price, however, recorded a slight shrinkage. The pace of growth was the most pronounced in December 2022 when the average import price increased by 27% against the previous month. Over the period under review, average import prices reached the maximum at $7,163 per ton in January 2023; however, from February 2023 to July 2023, import prices stood at a somewhat lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Pakistan ($8,434 per ton), while the price for China ($3,503 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 Spain (+1.3%), while the prices for the other major suppliers experienced mixed trend patterns.
Spices; Mixtures Price in the United States (FOB) - 2023
The average spices; mixtures export price stood at $4,103 per ton in July 2023, falling by -23.2% against the previous month. Overall, the export price recorded a mild descent. The growth pace was the most rapid in November 2022 an increase of 29% month-to-month. Over the period under review, the average export prices attained the maximum at $5,875 per ton in March 2023; however, from April 2023 to July 2023, the export prices failed to regain momentum.
Prices varied noticeably by the country of destination: the country with the highest price was Uruguay ($5,512 per ton), while the average price for exports to Germany ($3,269 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 Japan (+4.9%), while the prices for the other major destinations experienced more modest paces of growth.
Spices; Mixtures Imports in the United States
Spices; mixtures imports into the United States soared to 12K tons in 2022, jumping by 15% compared with 2021. In general, imports showed a significant increase. The growth pace was the most rapid in 2020 with an increase of 60% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the immediate term.
In value terms, spices; mixtures imports surged to $70M in 2022. Over the period under review, total imports indicated a significant expansion from 2019 to 2022: its value increased at an average annual rate of +23.8% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +89.6% against 2019 indices. The growth pace was the most rapid in 2020 when imports increased by 41% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.
| Import of Spices; Mixtures in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Pakistan | 12.8 | 13.9 | 15.6 | 17.8 | 11.6% |
| Spain | 3.6 | 9.8 | 11.4 | 17.3 | 68.8% |
| India | 8.2 | 12.3 | 12.2 | 13.2 | 17.2% |
| China | 1.6 | 1.6 | 2.7 | 4.3 | 39.0% |
| United Arab Emirates | 1.9 | 3.1 | 1.9 | 3.1 | 17.7% |
| Vietnam | 0.9 | 2.1 | 2.3 | 2.3 | 36.7% |
| Lebanon | 0.6 | 0.8 | 1.0 | 1.2 | 26.0% |
| Canada | 1.0 | 1.3 | 1.4 | 1.1 | 3.2% |
| Egypt | N/A | N/A | 0.7 | 1.1 | 57.1% |
| Others | 6.3 | 7.0 | 8.0 | 8.5 | 10.5% |
| Total | 36.9 | 52.0 | 57.1 | 69.9 | 23.7% |
Top Suppliers of Spices; Mixtures to the United States in 2022:
- Spain (5.0K tons)
- India (2.2K tons)
- Pakistan (1.7K tons)
- China (0.8K tons)
- United Arab Emirates (0.4K tons)
- Vietnam (0.3K tons)
- Canada (0.2K tons)
- Egypt (0.2K tons)
- Lebanon (0.2K tons)
Spices; Mixtures Exports in the United States
In 2022, shipments abroad of spices; mixtureses decreased by -14.8% to 1.6K tons, falling for the second consecutive year after two years of growth. Overall, exports showed a deep contraction. The most prominent rate of growth was recorded in 2020 with an increase of 0.2%. As a result, the exports reached the peak of 2.2K tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
In value terms, spices; mixtures exports declined to $8.1M in 2022. Over the period under review, exports saw a perceptible slump. The most prominent rate of growth was recorded in 2020 when exports increased by 10%. As a result, the exports attained the peak of $10M. From 2021 to 2022, the growth of the exports failed to regain momentum.
| Export of Spices; Mixtures in the United States (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 2,279 | 1,837 | 2,388 | 2,450 | 2.4% |
| Panama | 90.8 | 938 | 1,090 | 781 | 104.9% |
| Mexico | 181 | 129 | 310 | 695 | 56.6% |
| Uruguay | 221 | 429 | 384 | 556 | 36.0% |
| Bahamas | 807 | 356 | 471 | 419 | -19.6% |
| Dominican Republic | 613 | 816 | 650 | 366 | -15.8% |
| Thailand | 19.0 | 3.4 | 240 | 360 | 166.6% |
| Costa Rica | 99.5 | 384 | 425 | 348 | 51.8% |
| Japan | 720 | 3.8 | N/A | 240 | -30.7% |
| Philippines | 12.8 | 2.8 | 152 | 189 | 145.3% |
| Netherlands | 14.0 | 21.2 | 30.4 | 160 | 125.2% |
| United Arab Emirates | 70.5 | 6.8 | 75.6 | 150 | 28.6% |
| Kuwait | 132 | N/A | 74.0 | 113 | -5.0% |
| Others | 3,861 | 5,121 | 2,506 | 1,280 | -30.8% |
| Total | 9,120 | 10,049 | 8,795 | 8,108 | -3.8% |
Top Export Markets for Spices; Mixtures from the United States in 2022:
- Canada (501.8 tons)
- Mexico (151.3 tons)
- Uruguay (127.9 tons)
- Panama (115.3 tons)
- Thailand (90.7 tons)
- Dominican Republic (81.1 tons)
- Bahamas (78.2 tons)
- Japan (54.0 tons)
- Costa Rica (53.2 tons)
- Philippines (39.9 tons)
- United Arab Emirates (39.2 tons)
- Netherlands (33.2 tons)
- Kuwait (25.8 tons)
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