Price for Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Latvia - 2023
Contents:
- Price for Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Latvia (CIF) - 2023
- Price for Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Latvia (FOB) - 2022
- Imports of Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Latvia
- Exports of Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Latvia
Price for Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Latvia (CIF) - 2023
The average import price for spices; fruits of the genus capsicum or pimenta, crushed or ground stood at $3,506 per ton in October 2023, surging by 13% against the previous month. Overall, the import price showed resilient growth. The pace of growth appeared the most rapid in November 2022 when the average import price increased by 625% m-o-m. As a result, import price reached the peak level of $13,615 per ton. From December 2022 to October 2023, the average import prices remained at a somewhat 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 Germany ($7,348 per ton), while the price for China ($2,806 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 China (+5.1%), 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 Latvia (FOB) - 2022
In 2022, the average export price for spices; fruits of the genus capsicum or pimenta, crushed or ground amounted to $3,439 per ton, jumping by 19% against the previous year. In general, export price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for spices; fruits of the genus capsicum or pimenta, crushed or ground increased by +96.6% against 2018 indices. The most prominent rate of growth was recorded in 2019 when the average export price increased by 20%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the near future.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Estonia ($9,149 per ton), while the average price for exports to Romania ($2,705 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 Hungary (+13.5%), 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 Latvia
Imports of spices; fruits of the genus capsicum or pimenta, crushed or ground into Latvia rose remarkably to 710 tons in 2022, with an increase of 15% against the previous year. Overall, imports enjoyed a significant increase. The pace of growth was the most pronounced in 2021 with an increase of 64% 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 years to come.
In value terms, imports of spices; fruits of the genus capsicum or pimenta, crushed or ground soared to $2.2M in 2022. Over the period under review, imports continue to indicate significant growth. The growth pace was the most rapid in 2021 when imports increased by 58% 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 likely to see steady growth in the immediate term.
| Import of Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 604 | 526 | 824 | 955 | 16.5% |
| Spain | 146 | 195 | 338 | 670 | 66.2% |
| Poland | 6.6 | 28.0 | 156 | 223 | 223.3% |
| Germany | 54.7 | 45.0 | 55.4 | 72.8 | 10.0% |
| Lithuania | 31.9 | 50.5 | 60.1 | 58.9 | 22.7% |
| Others | 175 | 205 | 222 | 197 | 4.0% |
| Total | 1,019 | 1,049 | 1,656 | 2,176 | 28.8% |
Top Suppliers of Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground to Latvia in 2022:
- China (395.8 tons)
- Spain (214.2 tons)
- Poland (53.7 tons)
- Lithuania (11.5 tons)
- Germany (11.3 tons)
Exports of Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Latvia
In 2022, approx. 485 tons of spices; fruits of the genus capsicum or pimenta, crushed or ground were exported from Latvia; increasing by 25% on the year before. Over the period under review, exports showed a strong increase. The pace of growth was the most pronounced in 2021 when exports increased by 56%. The exports peaked in 2022 and are expected to retain growth in the immediate term.
In value terms, exports of spices; fruits of the genus capsicum or pimenta, crushed or ground surged to $1.7M in 2022. In general, exports enjoyed a significant increase. The pace of growth was the most pronounced in 2021 with an increase of 84%. The exports peaked in 2022 and are likely to see gradual growth in the near future.
| Export of Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Poland | 212 | 138 | 230 | 539 | 36.5% |
| Romania | 115 | 120 | 378 | 452 | 57.8% |
| Russia | 119 | 146 | 196 | 343 | 42.3% |
| Estonia | 27.0 | 38.7 | 55.8 | 74.0 | 39.9% |
| Ukraine | 42.4 | 28.0 | 75.7 | 51.8 | 6.9% |
| Lithuania | 22.9 | 38.9 | 55.7 | 49.9 | 29.6% |
| Hungary | 29.8 | 27.4 | 49.7 | 49.5 | 18.4% |
| Czech Republic | 8.8 | 13.6 | 19.6 | 37.3 | 61.8% |
| Others | 35.0 | 54.6 | 56.2 | 70.2 | 26.1% |
| Total | 612 | 606 | 1,117 | 1,667 | 39.7% |
Top Export Markets for Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground from Latvia in 2022:
- Romania (167.1 tons)
- Poland (149.7 tons)
- Russia (87.7 tons)
- Hungary (16.5 tons)
- Ukraine (14.7 tons)
- Lithuania (11.0 tons)
- Czech Republic (9.9 tons)
- Estonia (8.1 tons)
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