Price for Spices; Mixtures of 2 or More Products of the Same Heading in Kuwait - 2022
Contents:
- Price for Spices; Mixtures of 2 or More Products of the Same Heading in Kuwait (CIF) - 2022
- Price for Spices; Mixtures of 2 or More Products of the Same Heading in Kuwait (FOB) - 2022
- Imports of Spices; Mixtures of 2 or More Products of the Same Heading in Kuwait
- Exports of Spices; Mixtures of 2 or More Products of the Same Heading in Kuwait
Price for Spices; Mixtures of 2 or More Products of the Same Heading in Kuwait (CIF) - 2022
In 2022, the average import price for spices; mixtures of 2 or more products of the same heading amounted to $3,824 per ton, increasing by 38% against the previous year. In general, import price indicated a resilient increase from 2013 to 2022: its price increased at an average annual rate of +9.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for spices; mixtures of 2 or more products of the same heading increased by +40.6% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the average import price increased by 45% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is likely to see gradual growth in the immediate term.
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 India ($4,688 per ton), while the price for the United Arab Emirates ($1,061 per ton) was amongst the lowest.
From 2013 to 2022, the most notable rate of growth in terms of prices was attained by Iran (+12.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Spices; Mixtures of 2 or More Products of the Same Heading in Kuwait (FOB) - 2022
In 2022, the average export price for spices; mixtures of 2 or more products of the same heading amounted to $4,358 per ton, falling by -3.9% against the previous year. Overall, export price indicated a perceptible expansion from 2013 to 2022: its price increased at an average annual rate of +3.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for spices; mixtures of 2 or more products of the same heading increased by +34.1% against 2019 indices. The pace of growth was the most pronounced in 2021 when the average export price increased by 28% against the previous year. As a result, the export price reached the peak level of $4,535 per ton, and then declined in the following year.
Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Oman ($4,358 per ton) and Jordan ($4,358 per ton), while the average price for exports to Qatar ($4,358 per ton) and Iraq ($4,358 per ton) were amongst the lowest.
From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+9.3%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Spices; Mixtures of 2 or More Products of the Same Heading in Kuwait
In 2022, the amount of spices; mixtures of 2 or more products of the same heading imported into Kuwait skyrocketed to 6.2K tons, increasing by 151% against 2021. Overall, imports posted significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, imports of spices; mixtures of 2 or more products of the same heading surged to $24M in 2022. In general, imports posted a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Spices; Mixtures of 2 or More Products of the Same Heading in Kuwait (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 2,034 | 1,732 | 1,727 | 6,730 | 49.0% |
| Jordan | 897 | 788 | 1,090 | 3,775 | 61.5% |
| Syrian Arab Republic | N/A | N/A | N/A | 1,232 | 0% |
| United Arab Emirates | 1,066 | 1,114 | 764 | 1,213 | 4.4% |
| Turkey | 560 | 788 | 381 | 1,064 | 23.9% |
| Bangladesh | 313 | 215 | 354 | 1,027 | 48.6% |
| Saudi Arabia | 62.2 | 134 | 203 | 991 | 151.6% |
| United States | 215 | 206 | 329 | 987 | 66.2% |
| China | 129 | 192 | 182 | 881 | 89.7% |
| Kenya | N/A | 3.0 | 13.1 | 728 | 1457.8% |
| Lebanon | 76.6 | 456 | 254 | 500 | 86.9% |
| Iran | 161 | 121 | 87.0 | 487 | 44.6% |
| Pakistan | 168 | 190 | 168 | 378 | 31.0% |
| Others | 1,202 | 939 | 1,222 | 3,565 | 43.7% |
| Total | 6,885 | 6,877 | 6,775 | 23,558 | 50.7% |
Top Suppliers of Spices; Mixtures of 2 or More Products of the Same Heading to Kuwait in 2022:
- India (1435.5 tons)
- United Arab Emirates (1142.9 tons)
- Jordan (805.2 tons)
- China (532.3 tons)
- Syrian Arab Republic (262.8 tons)
- Turkey (226.9 tons)
- Bangladesh (219.0 tons)
- Saudi Arabia (211.4 tons)
- United States (210.5 tons)
- Kenya (155.2 tons)
- Lebanon (106.8 tons)
- Iran (104.0 tons)
- Pakistan (80.7 tons)
Exports of Spices; Mixtures of 2 or More Products of the Same Heading in Kuwait
In 2022, exports of spices; mixtures of 2 or more products of the same heading from Kuwait skyrocketed to 1.6K tons, rising by 190% on the previous year's figure. In general, exports enjoyed a significant expansion. The pace of growth was the most pronounced in 2020 with an increase of 673%. The exports peaked in 2022 and are likely to see steady growth in the near future.
In value terms, exports of spices; mixtures of 2 or more products of the same heading soared to $7.1M in 2022. Over the period under review, exports saw a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 742%. Over the period under review, the exports of spices; mixtures of 2 or more products of same heading hit record highs in 2022 and are likely to see steady growth in the immediate term.
| Export of Spices; Mixtures of 2 or More Products of the Same Heading in Kuwait (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Saudi Arabia | N/A | 259 | 626 | 2,392 | 203.9% |
| Jordan | 96.8 | 1,315 | 1,165 | 1,216 | 132.5% |
| Qatar | 15.2 | 152 | 314 | 1,202 | 329.2% |
| Oman | 42.2 | 223 | 287 | 1,072 | 194.0% |
| United Arab Emirates | 20.3 | 91.8 | 99.0 | 900 | 253.9% |
| Iraq | 69.1 | 1.7 | 30.2 | 279 | 59.2% |
| Others | 0.5 | 11.9 | 41.2 | 80.3 | 443.6% |
| Total | 244 | 2,055 | 2,563 | 7,141 | 208.2% |
Top Export Markets for Spices; Mixtures of 2 or More Products of the Same Heading from Kuwait in 2022:
- Saudi Arabia (548.9 tons)
- Jordan (279.1 tons)
- Qatar (275.9 tons)
- Oman (246.0 tons)
- United Arab Emirates (206.6 tons)
- Iraq (64.0 tons)
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