Price for Herbs; Thyme, Bay Leaves in Turkey - 2022
Contents:
- Price for Herbs; Thyme, Bay Leaves in Turkey (CIF) - 2022
- Price for Herbs; Thyme, Bay Leaves in Turkey (FOB) - 2022
- Imports of Herbs; Thyme, Bay Leaves in Turkey
- Exports of Herbs; Thyme, Bay Leaves in Turkey
Price for Herbs; Thyme, Bay Leaves in Turkey (CIF) - 2022
The average herbs; thyme, bay leaves import price stood at $3,612 per ton in 2022, growing by 4.2% against the previous year. Overall, import price indicated a resilient increase from 2012 to 2022: its price increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, herbs; thyme, bay leaves import price increased by +80.8% against 2012 indices. The most prominent rate of growth was recorded in 2013 when the average import price increased by 20%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in years to come.
As there is only one major supplying country, the average price level is determined by prices for Morocco.
From 2012 to 2022, the rate of growth in terms of prices for Morocco amounted to +6.1% per year.
Price for Herbs; Thyme, Bay Leaves in Turkey (FOB) - 2022
The average herbs; thyme, bay leaves export price stood at $763 per ton in 2022, declining by -8.6% against the previous year. Over the period under review, the export price continues to indicate a drastic downturn. The most prominent rate of growth was recorded in 2016 an increase of 7.2% against the previous year. Over the period under review, the average export prices reached the peak figure at $3,944 per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Venezuela ($5,694 per ton), while the average price for exports to the Philippines totaled $598 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Venezuela (+3.4%).
Imports of Herbs; Thyme, Bay Leaves in Turkey
For the fourth consecutive year, Turkey recorded growth in overseas purchases of herbs, which increased by 4.1% to 529 tons in 2022. The total import volume increased at an average annual rate of +4.1% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 4.1% 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.
In value terms, herbs; thyme, bay leaves imports rose markedly to $1.9M in 2022. The total import value increased at an average annual rate of +8.4% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 8.4%. Imports peaked in 2022 and are expected to retain growth in the immediate term.
| Import of Herbs; Thyme, Bay Leaves in Turkey (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Morocco | 1.5 | 1.6 | 1.8 | 1.9 | 8.2% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 1.5 | 1.6 | 1.8 | 1.9 | 8.2% |
Top Suppliers of Herbs; Thyme, Bay Leaves to Turkey in 2022:
- Morocco (529.4 tons)
Exports of Herbs; Thyme, Bay Leaves in Turkey
For the third consecutive year, Turkey recorded decline in overseas shipments of herbs, which decreased by -5.7% to 147 tons in 2022. Over the period under review, exports recorded a deep reduction. The smallest decline of -5.7% was in 2020.
In value terms, herbs; thyme, bay leaves exports declined to $112K in 2022. Overall, exports continue to indicate a deep setback. The smallest decline of -13.9% was in 2021.
| Export of Herbs; Thyme, Bay Leaves in Turkey (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Philippines | 124 | 110 | 96.8 | 85.3 | -11.7% |
| Venezuela | 46.3 | 36.8 | 29.2 | 23.1 | -20.7% |
| Others | 5.4 | 4.8 | 4.3 | 3.9 | -10.3% |
| Total | 176 | 151 | 130 | 112 | -14.0% |
Top Export Markets for Herbs; Thyme, Bay Leaves from Turkey in 2022:
- Philippines (142.5 tons)
- Venezuela (4.1 tons)
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