Price for Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Italy - 2023

Contents:

1. Price for Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Italy (CIF) - 2023
2. Price for Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Italy (FOB) - 2022
3. Imports of Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Italy
4. Exports of Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Italy

Price for Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Italy (CIF) - 2023

In October 2023, the average import price for spices; fruits of the genus capsicum or pimenta, crushed or ground amounted to $4,597 per ton, surging by 5.2% against the previous month. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in November 2022 an increase of 19% m-o-m. Over the period under review, average import prices reached the maximum at $5,726 per ton in December 2022; however, from January 2023 to October 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In October 2023, the country with the highest price was India ($5,304 per ton), while the price for the United Arab Emirates ($3,044 per ton) was amongst the lowest.

From October 2022 to October 2023, the most notable rate of growth in terms of prices was attained by Egypt (+53.2%), 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 Italy (FOB) - 2022

The average export price for spices; fruits of the genus capsicum or pimenta, crushed or ground stood at $5,753 per ton in 2022, rising by 2.6% against the previous year. In general, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of 26% against the previous year. Over the period under review, the average export prices attained the peak figure at $7,718 per ton in 2014; however, from 2015 to 2022, the 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 the United States ($9,529 per ton), while the average price for exports to Switzerland ($2,659 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 the United States (+5.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Italy

For the fourth year in a row, Italy recorded growth in overseas purchases of spices; fruits of the genus capsicum or pimenta, crushed or ground, which increased by 12% to 2.6K tons in 2022. The total import volume increased at an average annual rate of +11.0% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of spices; fruits of the genus capsicum or pimenta, crushed or ground skyrocketed to $12M in 2022. In general, total imports indicated a significant increase from 2019 to 2022: its value increased at an average annual rate of +23.6% 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 +89.0% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Top Suppliers of Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground to Italy in 2022:

1. Spain (804.4 tons)
2. India (789.6 tons)
3. China (595.8 tons)
4. Netherlands (135.8 tons)
5. Germany (93.4 tons)
6. France (90.7 tons)
7. Hungary (29.3 tons)

Exports of Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Italy

For the fourth year in a row, Italy recorded growth in overseas shipments of spices; fruits of the genus capsicum or pimenta, crushed or ground, which increased by 14% to 785 tons in 2022. In general, total exports indicated a significant expansion from 2019 to 2022: its volume increased at an average annual rate of +20.9% 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 +76.7% against 2019 indices. The growth pace was the most rapid in 2020 when exports increased by 35%. Over the period under review, the exports of spices; fruits of genus capsicum or pimenta, crushed or ground hit record highs in 2022 and are likely to see gradual growth in the near future.

In value terms, exports of spices; fruits of the genus capsicum or pimenta, crushed or ground soared to $4.5M in 2022. Overall, total exports indicated significant growth from 2019 to 2022: its value increased at an average annual rate of +21.5% 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 +79.5% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 40%. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

Top Export Markets for Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground from Italy in 2022:

1. Germany (140.0 tons)
2. Switzerland (123.1 tons)
3. United Kingdom (65.7 tons)
4. India (63.2 tons)
5. Poland (52.4 tons)
6. Romania (29.3 tons)
7. United States (29.0 tons)
8. Netherlands (27.3 tons)
9. France (25.7 tons)
10. Czech Republic (25.6 tons)
11. Belgium (24.8 tons)
12. Greece (21.7 tons)
13. Bulgaria (17.6 tons)

Source: IndexBox Market Intelligence Platform