Spices; Saffron Price in Vietnam - 2021
Contents:
- Spices; Saffron Price in Vietnam (CIF) - 2022
- Spices; Saffron Price in Vietnam (FOB) - 2022
- Spices; Saffron Imports in Vietnam
- Spices; Saffron Exports in Vietnam
Spices; Saffron Price in Vietnam (CIF) - 2022
In 2022, the average spices; saffron import price amounted to $237,761 per ton, which is down by -24% against the previous year. Over the period under review, the import price, however, continues to indicate a strong increase. The pace of growth appeared the most rapid in 2019 when the average import price increased by 108%. Over the period under review, average import prices reached the maximum at $312,693 per ton in 2021, and then contracted notably in the following year.
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 Germany ($926,087 per ton), while the price for Hong Kong SAR ($50,240 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+68.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Spices; Saffron Price in Vietnam (FOB) - 2022
The average spices; saffron export price stood at $40,508 per ton in 2022, surging by 8.2% against the previous year. Overall, the export price saw buoyant growth. The most prominent rate of growth was recorded in 2014 an increase of 74% against the previous year. The export price peaked at $40,963 per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.
As there is only one major export destination, the average price level is determined by prices for Ireland.
From 2012 to 2022, the rate of growth in terms of prices for Ireland amounted to +10.4% per year.
Spices; Saffron Imports in Vietnam
Spices; saffron imports into Vietnam expanded slightly to 2.6 tons in 2022, rising by 1.5% on the year before. Over the period under review, imports, however, recorded a deep downturn. The most prominent rate of growth was recorded in 2021 with an increase of 17%.
In value terms, spices; saffron imports contracted markedly to $613K in 2022. In general, imports recorded a resilient expansion. The pace of growth was the most pronounced in 2021 with an increase of 84% against the previous year. As a result, imports attained the peak of $794K, and then fell notably in the following year.
Import of Spices; Saffron in Vietnam (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Germany | 8.9 | 40.0 | 197 | 160 | 162.0% |
Hong Kong SAR | 53.8 | 64.2 | 105 | 91.3 | 19.3% |
India | 120 | 81.2 | 89.6 | 89.2 | -9.4% |
United Arab Emirates | 75.9 | 56.9 | 52.4 | 38.1 | -20.5% |
Thailand | 18.0 | 17.6 | 23.6 | 16.8 | -2.3% |
Greece | 16.8 | 39.7 | 25.4 | 13.0 | -8.2% |
Singapore | 14.7 | 7.7 | 1.0 | 11.3 | -8.4% |
Others | 57.3 | 124 | 300 | 193 | 49.9% |
Total | 365 | 432 | 794 | 613 | 18.9% |
Top Suppliers of Spices; Saffron to Vietnam in 2022:
- Hong Kong SAR (1817.0 kg)
- Germany (173.0 kg)
- India (162.0 kg)
- United Arab Emirates (151.0 kg)
- Thailand (32.0 kg)
- Greece (30.0 kg)
- Singapore (21.0 kg)
Spices; Saffron Exports in Vietnam
In 2022, the amount of spices; saffra exported from Vietnam skyrocketed to 876 kg, picking up by 77% against the previous year. In general, exports enjoyed a significant expansion. The pace of growth was the most pronounced in 2020 with an increase of 163%. As a result, the exports reached the peak of 1.3 tons. From 2021 to 2022, the growth of the exports failed to regain momentum.
In value terms, spices; saffron exports soared to $35K in 2022. Overall, exports saw significant growth. The pace of growth appeared the most rapid in 2020 with an increase of 228%. As a result, the exports attained the peak of $52K. From 2021 to 2022, the growth of the exports remained at a lower figure.
Export of Spices; Saffron in Vietnam (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Ireland | 15.5 | 44.4 | 18.0 | 34.7 | 30.8% |
Others | 0.5 | 8.1 | 0.5 | 0.8 | 17.0% |
Total | 16.0 | 52.5 | 18.5 | 35.5 | 30.4% |
Top Export Markets for Spices; Saffron from Vietnam in 2022:
- Ireland (862.0 kg)
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