Price for Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Canada - 2023
Contents:
- Price for Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Canada (CIF) - 2023
- Price for Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Canada (FOB) - 2023
- Imports of Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Canada
- Exports of Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Canada
Price for Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Canada (CIF) - 2023
The average import price for spices; fruits of the genus capsicum or pimenta, crushed or ground stood at $4,665 per ton in October 2023, flattening at the previous month. Over the period from December 2022 to October 2023, it increased at an average monthly rate of +1.2%. The pace of growth appeared the most rapid in March 2023 an increase of 15% m-o-m. Over the period under review, average import prices reached the peak figure at $4,674 per ton in July 2023; afterwards, it flattened through to October 2023.
There were significant differences in the average prices amongst the major supplying countries. In October 2023, the country with the highest price was Guatemala ($8,813 per ton), while the price for Mexico ($2,650 per ton) was amongst the lowest.
From December 2022 to October 2023, the most notable rate of growth in terms of prices was attained by Mexico (+3.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Canada (FOB) - 2023
The average export price for spices; fruits of the genus capsicum or pimenta, crushed or ground stood at $5,816 per ton in October 2023, shrinking by -12.8% against the previous month. In general, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in July 2023 an increase of 66% m-o-m. As a result, the export price attained the peak level of $6,743 per ton. From August 2023 to October 2023, the the average export prices remained at a somewhat lower figure.
As there is only one major export destination, the average price level is determined by prices for the United States.
From December 2022 to October 2023, the rate of growth in terms of prices for the United States amounted to +0.9% per month.
Imports of Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Canada
Imports of spices; fruits of the genus capsicum or pimenta, crushed or ground into Canada was estimated at 9.6K tons in 2022, remaining constant against the previous year. The total import volume increased at an average annual rate of +7.2% over the period from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by 13% against the previous year. Over the period under review, imports of spices; fruits of genus capsicum or pimenta, crushed or ground hit record highs in 2022 and are expected to retain growth in the immediate term.
In value terms, imports of spices; fruits of the genus capsicum or pimenta, crushed or ground expanded markedly to $40M in 2022. Over the period under review, total imports indicated a buoyant expansion from 2019 to 2022: its value increased at an average annual rate of +14.8% 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 +51.2% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 17% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.
| Import of Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Canada (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Spain | 6.4 | 7.3 | 9.4 | 11.4 | 21.2% |
| India | 7.0 | 8.2 | 10.6 | 10.8 | 15.6% |
| China | 4.6 | 4.5 | 5.1 | 6.3 | 11.1% |
| United States | 3.0 | 3.2 | 3.4 | 3.8 | 8.2% |
| Mexico | 1.0 | 1.0 | 1.6 | 2.0 | 26.0% |
| South Korea | 0.9 | 1.1 | 1.0 | 1.5 | 18.6% |
| Chile | 1.3 | 1.3 | 0.8 | 0.2 | -46.4% |
| Others | 2.3 | 3.2 | 3.2 | 4.1 | 21.3% |
| Total | 26.5 | 29.8 | 35.0 | 40.0 | 14.7% |
Top Suppliers of Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground to Canada in 2022:
- Spain (2.7K tons)
- India (2.5K tons)
- China (1.8K tons)
- United States (0.8K tons)
- Mexico (0.7K tons)
- South Korea (0.3K tons)
Exports of Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Canada
For the fourth year in a row, Canada recorded growth in overseas shipments of spices; fruits of the genus capsicum or pimenta, crushed or ground, which increased by 13% to 304 tons in 2022. Overall, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 69% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.
In value terms, exports of spices; fruits of the genus capsicum or pimenta, crushed or ground soared to $1.7M in 2022. In general, exports saw a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 60%. The exports peaked in 2022 and are likely to continue growth in the immediate term.
| Export of Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Canada (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 0.7 | 0.9 | 1.4 | 1.6 | 31.7% |
| Others | N/A | N/A | 0.1 | N/A | 0% |
| Total | 0.8 | 0.9 | 1.4 | 1.7 | 28.6% |
Top Export Markets for Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground from Canada in 2022:
- United States (297.2 tons)
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