Spices; Saffron Price in Lithuania - 2023
Contents:
- Spices; Saffron Price in Lithuania (CIF) - 2022
- Spices; Saffron Price in Lithuania (FOB) - 2022
- Spices; Saffron Imports in Lithuania
- Spices; Saffron Exports in Lithuania
Spices; Saffron Price in Lithuania (CIF) - 2022
In 2022, the average spices; saffron import price amounted to $1,214,143 per ton, dropping by -11.4% against the previous year. In general, the import price, however, posted a significant expansion. The pace of growth was the most pronounced in 2014 an increase of 942% against the previous year. Over the period under review, average import prices hit record highs at $1,644,556 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 ($5,068,000 per ton), while the price for Georgia ($44,000 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+83.8%), while the prices for the other major suppliers experienced mixed trend patterns.
Spices; Saffron Price in Lithuania (FOB) - 2022
In 2022, the average spices; saffron export price amounted to $112,843 per ton, falling by -43.4% against the previous year. Overall, the export price continues to indicate a abrupt descent. The growth pace was the most rapid in 2015 an increase of 99% against the previous year. The export price peaked at $1,337,462 per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Estonia ($1,417,000 per ton), while the average price for exports to Kazakhstan ($49,739 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 Latvia (+4.7%), while the prices for the other major destinations experienced a decline.
Spices; Saffron Imports in Lithuania
In 2022, overseas purchases of spices; saffra decreased by -15.2% to 28 kg for the first time since 2018, thus ending a three-year rising trend. The total import volume increased at an average annual rate of +1.2% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 19%.
In value terms, spices; saffron imports declined dramatically to $34K in 2022. In general, total imports indicated a prominent expansion from 2019 to 2022: its value increased at an average annual rate of +6.2% 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 +19.9% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 40% against the previous year. As a result, imports reached the peak of $45K, and then contracted rapidly in the following year.
| Import of Spices; Saffron in Lithuania (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Austria | 7.2 | 10.5 | 20.5 | 15.7 | 29.7% |
| Estonia | 9.0 | 10.4 | 13.2 | 5.1 | -17.2% |
| Latvia | 2.6 | 2.8 | 3.1 | 5.0 | 24.4% |
| Italy | N/A | N/A | 5.8 | 4.4 | -24.1% |
| Spain | 6.8 | 1.1 | 1.4 | 3.5 | -19.9% |
| United Arab Emirates | N/A | N/A | N/A | 0.2 | 0% |
| Georgia | 0.2 | 0.1 | N/A | 0.1 | -20.6% |
| United Kingdom | 0.5 | 1.2 | N/A | N/A | 140.0% |
| Iran | 0.6 | 3.2 | N/A | N/A | 433.3% |
| Netherlands | N/A | 0.1 | 1.0 | N/A | 900.0% |
| Afghanistan | N/A | 2.9 | N/A | N/A | 0% |
| Others | 1.4 | N/A | 0.2 | N/A | -62.2% |
| Total | 28.3 | 32.2 | 45.2 | 34.0 | 6.3% |
Top Suppliers of Spices; Saffron to Lithuania in 2022:
- Austria (15.0 kg)
- Latvia (6.0 kg)
- Georgia (2.0 kg)
- Spain (2.0 kg)
- Italy (1.0 kg)
- Estonia (1.0 kg)
- United Arab Emirates (1.0 kg)
Spices; Saffron Exports in Lithuania
For the fourth consecutive year, Lithuania recorded growth in overseas shipments of spices; saffra, which increased by 38% to 134 kg in 2022. Overall, exports posted significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 106%. The exports peaked in 2022 and are likely to see steady growth in the near future.
In value terms, spices; saffron exports dropped significantly to $15K in 2022. Over the period under review, exports continue to indicate a resilient expansion. The pace of growth was the most pronounced in 2021 when exports increased by 81% against the previous year. As a result, the exports attained the peak of $19K, and then fell rapidly in the following year.
| Export of Spices; Saffron in Lithuania (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Russia | 6.3 | 5.0 | 9.1 | 8.0 | 8.3% |
| Latvia | 3.0 | 4.1 | 7.4 | 3.4 | 4.3% |
| Kazakhstan | N/A | N/A | N/A | 2.3 | 0% |
| Estonia | 0.5 | 0.8 | 2.6 | 1.4 | 40.9% |
| Belarus | 0.2 | 0.8 | 0.3 | N/A | 22.5% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 10.1 | 10.7 | 19.3 | 15.1 | 14.3% |
Top Export Markets for Spices; Saffron from Lithuania in 2022:
- Russia (81.0 kg)
- Kazakhstan (46.0 kg)
- Latvia (6.0 kg)
- Estonia (1.0 kg)
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