Price for Spices; Ginger, Neither Crushed Nor Ground in Latvia - 2023
Contents:
- Price for Spices; Ginger, Neither Crushed Nor Ground in Latvia (CIF) - 2022
- Price for Spices; Ginger, Neither Crushed Nor Ground in Latvia (FOB) - 2022
- Imports of Spices; Ginger, Neither Crushed Nor Ground in Latvia
- Exports of Spices; Ginger, Neither Crushed Nor Ground in Latvia
Price for Spices; Ginger, Neither Crushed Nor Ground in Latvia (CIF) - 2022
In 2022, the average import price for spices; ginger, neither crushed nor ground amounted to $2,416 per ton, which is down by -27.6% against the previous year. Over the period under review, the import price, however, saw strong growth. The most prominent rate of growth was recorded in 2013 when the average import price increased by 92% against the previous year. Over the period under review, average import prices reached the peak figure at $3,477 per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.
Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Germany ($3,251 per ton) and France ($2,371 per ton), while the price for Lithuania ($2,217 per ton) and the Netherlands ($2,310 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+8.2%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Spices; Ginger, Neither Crushed Nor Ground in Latvia (FOB) - 2022
In 2022, the average export price for spices; ginger, neither crushed nor ground amounted to $2,786 per ton, which is down by -5.9% against the previous year. Overall, export price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of +8.3% 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; ginger, neither crushed nor ground decreased by -10.8% against 2020 indices. The pace of growth was the most pronounced in 2013 an increase of 96% against the previous year. Over the period under review, the average export prices attained the maximum at $3,124 per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.
Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Poland ($3,137 per ton) and Romania ($2,962 per ton), while the average price for exports to Bulgaria ($2,489 per ton) and Estonia ($2,538 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Estonia (+8.6%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Spices; Ginger, Neither Crushed Nor Ground in Latvia
Imports of spices; ginger, neither crushed nor ground into Latvia was estimated at 201 tons in 2022, picking up by 3.8% against the previous year. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 21%. As a result, imports reached the peak of 248 tons. From 2021 to 2022, the growth of imports of failed to regain momentum.
In value terms, imports of spices; ginger, neither crushed nor ground contracted sharply to $485K in 2022. In general, imports saw prominent growth. The pace of growth appeared the most rapid in 2020 when imports increased by 111% against the previous year. As a result, imports reached the peak of $862K. From 2021 to 2022, the growth of imports of remained at a lower figure.
| Import of Spices; Ginger, Neither Crushed Nor Ground in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 252 | 528 | 544 | 354 | 12.0% |
| Germany | 1.3 | 64.3 | 38.4 | 60.9 | 260.5% |
| France | N/A | N/A | 25.7 | 55.2 | 114.8% |
| Lithuania | 152 | 246 | 24.5 | 8.6 | -61.6% |
| Others | 2.6 | 22.8 | 12.5 | 5.8 | 30.7% |
| Total | 408 | 862 | 645 | 485 | 5.9% |
Top Suppliers of Spices; Ginger, Neither Crushed Nor Ground to Latvia in 2022:
- Netherlands (153.3 tons)
- France (23.3 tons)
- Germany (18.7 tons)
- Lithuania (3.9 tons)
Exports of Spices; Ginger, Neither Crushed Nor Ground in Latvia
In 2022, after three years of growth, there was significant decline in shipments abroad of spices; ginger, neither crushed nor ground, when their volume decreased by -48% to 103 tons. Over the period under review, exports showed a abrupt contraction. The most prominent rate of growth was recorded in 2021 when exports increased by 27% against the previous year. As a result, the exports attained the peak of 199 tons, and then contracted rapidly in the following year.
In value terms, exports of spices; ginger, neither crushed nor ground fell markedly to $288K in 2022. Overall, exports, however, saw a temperate increase. The pace of growth appeared the most rapid in 2020 when exports increased by 91%.
| Export of Spices; Ginger, Neither Crushed Nor Ground in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Estonia | 106 | 149 | 132 | 115 | 2.8% |
| Lithuania | 36.9 | 153 | 115 | 64.0 | 20.1% |
| Romania | 40.2 | 58.8 | 89.6 | 48.8 | 6.7% |
| Poland | 36.9 | 80.1 | 140 | 47.4 | 8.7% |
| Bulgaria | 12.8 | 11.0 | 22.6 | 5.0 | -26.9% |
| Czech Republic | 13.3 | 26.6 | 27.4 | 4.9 | -28.3% |
| Hungary | 7.3 | 6.2 | 21.6 | 3.4 | -22.5% |
| Others | 3.4 | 6.5 | 40.7 | N/A | 246.0% |
| Total | 257 | 490 | 589 | 288 | 3.9% |
Top Export Markets for Spices; Ginger, Neither Crushed Nor Ground from Latvia in 2022:
- Estonia (45.1 tons)
- Lithuania (21.8 tons)
- Romania (16.5 tons)
- Poland (15.1 tons)
- Bulgaria (2.0 tons)
- Czech Republic (1.7 tons)
- Hungary (1.0 tons)
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