Price for Cumin Seeds, Crushed or Ground in Spain - 2023

Contents:

1. Price for Cumin Seeds, Crushed or Ground in Spain (FOB) - 2023
2. Price for Cumin Seeds, Crushed or Ground in Spain (CIF) - 2022
3. Exports of Cumin Seeds, Crushed or Ground in Spain
4. Imports of Cumin Seeds, Crushed or Ground in Spain

Price for Cumin Seeds, Crushed or Ground in Spain (FOB) - 2023

The average export price for cumin seeds, crushed or ground stood at $5,726 per ton in June 2023, jumping by 111% against the previous month. Over the period under review, export price indicated measured growth from June 2022 to June 2023: its price increased at an average monthly rate of +4.4% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on June 2023 figures, cumin seeds, crushed or ground export price increased by +111.2% against May 2023 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major foreign markets. In June 2023, the highest price was recorded for prices to the Netherlands ($6,361 per ton) and Cuba ($6,346 per ton), while the average price for exports to France ($4,648 per ton) and the United States ($5,610 per ton) were amongst the lowest.

From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+4.2%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Cumin Seeds, Crushed or Ground in Spain (CIF) - 2022

In 2022, the average import price for cumin seeds, crushed or ground amounted to $2,698 per ton, rising by 10% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 15%. Over the period under review, average import prices attained the maximum at $2,948 per ton in 2012; however, from 2013 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 Germany ($9,413 per ton), while the price for Syrian Arab Republic ($1,785 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+5.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports of Cumin Seeds, Crushed or Ground in Spain

In 2022, cumin seeds, crushed or ground exports from Spain surged to 1.4K tons, growing by 28% compared with the previous year. In general, total exports indicated prominent growth from 2019 to 2022: its volume increased at an average annual rate of +18.6% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +66.8% against 2019 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, cumin seeds, crushed or ground exports rose remarkably to $4.6M in 2022. The total export value increased at an average annual rate of +13.8% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when exports increased by 21%. The exports peaked in 2022 and are expected to retain growth in years to come.

Top Export Markets for Cumin Seeds, Crushed or Ground from Spain in 2022:

1. France (516.6 tons)
2. Netherlands (151.8 tons)
3. United States (119.2 tons)
4. Italy (77.9 tons)
5. Costa Rica (72.0 tons)
6. Germany (61.6 tons)
7. Belgium (59.2 tons)
8. United Kingdom (53.3 tons)
9. Cuba (52.0 tons)
10. Portugal (49.1 tons)
11. India (44.0 tons)
12. Ecuador (20.3 tons)

Imports of Cumin Seeds, Crushed or Ground in Spain

In 2022, after three years of growth, there was significant decline in supplies from abroad of cumin seeds, crushed or ground, when their volume decreased by -15.3% to 481 tons. The total import volume increased at an average annual rate of +5.5% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 36% against the previous year. As a result, imports attained the peak of 569 tons, and then contracted rapidly in the following year.

In value terms, cumin seeds, crushed or ground imports declined to $1.3M in 2022. The total import value increased at an average annual rate of +6.5% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 26% against the previous year. As a result, imports attained the peak of $1.4M, and then dropped in the following year.

Top Suppliers of Cumin Seeds, Crushed or Ground to Spain in 2022:

1. India (317.2 tons)
2. Syrian Arab Republic (86.0 tons)
3. Turkey (23.1 tons)
4. Germany (21.4 tons)
5. Italy (10.7 tons)
6. France (8.6 tons)
7. Netherlands (8.4 tons)

Source: IndexBox Market Intelligence Platform