Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Latvia - 2023
Contents:
- Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Latvia (CIF) - 2022
- Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Latvia (FOB) - 2022
- Imports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Latvia
- Exports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Latvia
Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Latvia (CIF) - 2022
In 2022, the average import price for spices; cinnamon and cinnamon-tree flowers, crushed or ground amounted to $2,659 per ton, dropping by -10.1% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the average import price increased by 50%. Over the period under review, average import prices hit record highs at $3,530 per ton in 2013; however, from 2014 to 2022, import prices remained at a 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 ($16,300 per ton), while the price for Vietnam ($1,719 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+13.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Latvia (FOB) - 2022
The average export price for spices; cinnamon and cinnamon-tree flowers, crushed or ground stood at $2,966 per ton in 2022, falling by -13.8% against the previous year. In general, the export price continues to indicate a pronounced decrease. The growth pace was the most rapid in 2013 an increase of 36% against the previous year. As a result, the export price attained the peak level of $6,200 per ton. From 2014 to 2022, the average 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 Lithuania ($4,711 per ton), while the average price for exports to Bulgaria ($2,135 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 Serbia (+8.5%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Latvia
In 2022, the amount of spices; cinnamon and cinnamon-tree flowers, crushed or ground imported into Latvia expanded remarkably to 257 tons, surging by 7.3% compared with 2021. In general, total imports indicated a buoyant expansion from 2019 to 2022: its volume increased at an average annual rate of +17.3% 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 +70.1% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 58% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the near future.
In value terms, imports of spices; cinnamon and cinnamon-tree flowers, crushed or ground declined modestly to $684K in 2022. Over the period under review, total imports indicated a strong expansion from 2019 to 2022: its value increased at an average annual rate of +19.1% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +68.8% against 2019 indices. The pace of growth appeared the most rapid in 2021 with an increase of 51%. As a result, imports attained the peak of $709K, and then declined slightly in the following year.
| Import of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Vietnam | 117 | 56.2 | 219 | 346 | 43.5% |
| Estonia | 83.7 | 113 | 122 | 98.5 | 5.6% |
| Indonesia | 19.1 | 176 | 220 | 94.6 | 70.5% |
| Netherlands | 42.3 | 38.4 | 23.8 | 56.4 | 10.1% |
| Lithuania | 29.7 | 34.6 | 39.0 | 44.6 | 14.5% |
| Poland | 17.4 | 33.7 | 38.9 | 33.0 | 23.8% |
| Germany | 87.4 | 7.9 | 24.0 | 1.0 | -77.5% |
| Others | 8.7 | 10.7 | 22.4 | 9.9 | 4.4% |
| Total | 406 | 471 | 709 | 684 | 19.0% |
Top Suppliers of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground to Latvia in 2022:
- Vietnam (201.5 tons)
- Indonesia (21.0 tons)
- Lithuania (11.4 tons)
- Netherlands (10.2 tons)
- Poland (6.4 tons)
- Estonia (6.0 tons)
- Germany (0.2 tons)
Exports of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Latvia
In 2022, overseas shipments of spices; cinnamon and cinnamon-tree flowers, crushed or ground decreased by -0.4% to 203 tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, total exports indicated a remarkable increase from 2019 to 2022: its volume increased at an average annual rate of +14.0% 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 +48.0% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 29% against the previous year. As a result, the exports reached the peak of 203 tons, leveling off in the following year.
In value terms, exports of spices; cinnamon and cinnamon-tree flowers, crushed or ground declined to $601K in 2022. In general, total exports indicated buoyant growth from 2019 to 2022: its value increased at an average annual rate of +19.6% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +70.9% against 2019 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 43%.
| Export of Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Poland | 67.7 | 95.4 | 171 | 163 | 34.0% |
| Hungary | 23.0 | 110 | 172 | 105 | 65.9% |
| Romania | 69.7 | 94.6 | 128 | 76.5 | 3.2% |
| Czech Republic | 21.4 | 39.1 | 49.8 | 53.4 | 35.6% |
| Russia | 34.0 | 27.0 | 14.6 | 51.2 | 14.6% |
| Serbia | N/A | N/A | 15.8 | 27.9 | 76.6% |
| Bulgaria | 36.7 | 13.5 | 51.6 | 23.1 | -14.3% |
| Others | 98.9 | 123 | 96.6 | 100 | 0.4% |
| Total | 351 | 503 | 700 | 601 | 19.6% |
Top Export Markets for Spices; Cinnamon and Cinnamon-Tree Flowers, Crushed or Ground from Latvia in 2022:
- Poland (57.1 tons)
- Hungary (44.3 tons)
- Romania (27.0 tons)
- Czech Republic (15.9 tons)
- Serbia (13.0 tons)
- Russia (11.1 tons)
- Bulgaria (10.8 tons)
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This report provides an in-depth analysis of the cinnamon market in Latvia.
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This report provides an in-depth analysis of the global cinnamon market.
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This report provides an in-depth analysis of the cinnamon market in Latvia.
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This report provides an in-depth analysis of the global cinnamon market.
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The global cinnamon market revenue amounted to $1.1B in 2018, dropping by -9% against the previous year. This figure...
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From 2007 to 2016, the global cinnamon market value fluctuated perceptibly. According to IndexBox estimates, a significant increase in 2008 (X% Y-o-Y) was followed by a slight drop in 2009 (X% Y-o-Y). Over the next two years, the market gradually in
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In 2015, the countries with the highest levels of cinnamon production in 2015 were Indonesia (X thousand tons), China (X thousand tons), Vietnam (X thousand tons), together accounting for X% of total output.
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Sri Lanka dominates in the global cinnamon trade. In 2014, Sri Lanka exported X thousand tons of сinnamon totaling X million USD, X% under the previous year. Its primary trading partner was Mexico, where it supplied X% of its total сinnamon expor
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The global cinnamon market revenue amounted to $1.1B in 2018, dropping by -9% against the previous year. This figure...
2632
From 2007 to 2016, the global cinnamon market value fluctuated perceptibly. According to IndexBox estimates, a significant increase in 2008 (X% Y-o-Y) was followed by a slight drop in 2009 (X% Y-o-Y). Over the next two years, the market gradually in
9562
Global cinnamon consumption amounted to X thousand tons in 2015, picking up by +X% against the previous year level.
