Price for Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Malaysia - 2023
Contents:
- Price for Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Malaysia (CIF) - 2023
- Price for Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Malaysia (FOB) - 2023
- Imports of Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Malaysia
- Exports of Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Malaysia
Price for Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Malaysia (CIF) - 2023
In October 2023, the average import price for spices; fruits of the genus capsicum or pimenta, crushed or ground amounted to $3,309 per ton, growing by 19% against the previous month. Over the period under review, the import price enjoyed a prominent expansion. The most prominent rate of growth was recorded in July 2023 an increase of 50% m-o-m. Over the period under review, average import prices hit record highs in October 2023.
Prices varied noticeably by the country of origin: the country with the highest price was Taiwan (Chinese) ($4,758 per ton), while the price for Bangladesh ($2,243 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 Thailand (+14.5%), 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 Malaysia (FOB) - 2023
In October 2023, the average export price for spices; fruits of the genus capsicum or pimenta, crushed or ground amounted to $1,694 per ton, with a decrease of -14.3% against the previous month. Over the period under review, the export price continues to indicate a abrupt curtailment. The growth pace was the most rapid in August 2023 when the average export price increased by 39% month-to-month. Over the period under review, the average export prices hit record highs at $3,863 per ton in December 2022; however, from January 2023 to October 2023, the export prices remained at a lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was New Zealand ($10,177 per ton), while the average price for exports to Thailand ($1,267 per ton) was amongst the lowest.
From December 2022 to October 2023, the most notable rate of growth in terms of prices was recorded for supplies to India (+24.3%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Malaysia
Imports of spices; fruits of the genus capsicum or pimenta, crushed or ground into Malaysia soared to 8.6K tons in 2022, jumping by 28% compared with the previous year. Over the period under review, imports recorded a mild increase. The pace of growth appeared the most rapid in 2021 when imports increased by 70% against the previous year. Imports peaked in 2022 and are likely to continue growth in the near future.
In value terms, imports of spices; fruits of the genus capsicum or pimenta, crushed or ground shrank slightly to $15M in 2022. In general, imports, however, continue to indicate a mild descent. The pace of growth was the most pronounced in 2021 with an increase of 48%.
| Import of Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Malaysia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 4.5 | 4.7 | 8.1 | 7.2 | 17.0% |
| India | 8.9 | 3.3 | 3.7 | 4.5 | -20.3% |
| Bangladesh | 0.7 | 0.9 | 1.0 | 1.4 | 26.0% |
| Others | 1.3 | 0.9 | 1.7 | 1.4 | 2.5% |
| Total | 15.4 | 9.8 | 14.6 | 14.5 | -2.0% |
Top Suppliers of Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground to Malaysia in 2022:
- China (6.6K tons)
- India (1.3K tons)
- Bangladesh (0.3K tons)
Exports of Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Malaysia
For the fourth consecutive year, Malaysia recorded growth in shipments abroad of spices; fruits of the genus capsicum or pimenta, crushed or ground, which increased by 13% to 1.3K tons in 2022. Overall, total exports indicated a buoyant expansion from 2019 to 2022: its volume increased at an average annual rate of +19.2% 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 +69.2% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 35% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.
In value terms, exports of spices; fruits of the genus capsicum or pimenta, crushed or ground soared to $3M in 2022. Over the period under review, total exports indicated a significant expansion from 2019 to 2022: its value increased at an average annual rate of +21.4% 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 +78.8% against 2019 indices. The pace of growth was the most pronounced in 2020 when exports increased by 44%. The exports peaked in 2022 and are expected to retain growth in years to come.
| Export of Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Malaysia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 160 | 631 | 424 | 1,257 | 98.8% |
| Singapore | 670 | 842 | 872 | 871 | 9.1% |
| Thailand | 468 | 559 | 884 | 571 | 6.9% |
| Australia | 62.4 | 14.8 | 48.7 | 40.8 | -13.2% |
| Japan | 158 | 119 | 111 | 13.7 | -55.7% |
| Others | 163 | 250 | 219 | 254 | 15.9% |
| Total | 1,682 | 2,416 | 2,559 | 3,007 | 21.4% |
Top Export Markets for Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground from Malaysia in 2022:
- Singapore (556.2 tons)
- Indonesia (380.8 tons)
- Thailand (269.4 tons)
- Australia (14.9 tons)
- Japan (2.8 tons)
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