Price for Spices; Mace, Crushed or Ground in Hungary - 2023

Contents:

1. Price for Spices; Mace, Crushed or Ground in Hungary (CIF) - 2022
2. Price for Spices; Mace, Crushed or Ground in Hungary (FOB) - 2022
3. Imports of Spices; Mace, Crushed or Ground in Hungary
4. Exports of Spices; Mace, Crushed or Ground in Hungary

Price for Spices; Mace, Crushed or Ground in Hungary (CIF) - 2022

The average import price for spices; mace, crushed or ground stood at $25,896 per ton in 2022, shrinking by -10.1% against the previous year. Over the period under review, the import price, however, recorded a slight expansion. The pace of growth appeared the most rapid in 2020 when the average import price increased by 49%. Over the period under review, average import prices attained the maximum at $28,794 per ton in 2021, and then dropped in the following year.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($34,689 per ton), while the price for the Netherlands stood at $25,671 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+24.3%).

Price for Spices; Mace, Crushed or Ground in Hungary (FOB) - 2022

The average export price for spices; mace, crushed or ground stood at $32,739 per ton in 2022, with a decrease of -5.6% against the previous year. In general, the export price, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2019 when the average export price increased by 988%. The export price peaked at $34,681 per ton in 2021, and then dropped in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($46,223 per ton), while the average price for exports to Croatia ($11,251 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 South Africa (+97.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Spices; Mace, Crushed or Ground in Hungary

After two years of decline, overseas purchases of spices; mace, crushed or ground increased by 13% to 4.4 tons in 2022. In general, imports, however, saw a deep reduction.

In value terms, spices; mace, crushed or ground imports amounted to $114K in 2022. The total import value increased at an average annual rate of +8.5% over the period from 2019 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 18% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in years to come.

Top Suppliers of Spices; Mace, Crushed or Ground to Hungary in 2022:

1. Netherlands (4.3 tons)
2. Italy (0.1 tons)

Exports of Spices; Mace, Crushed or Ground in Hungary

In 2022, exports of spices; mace, crushed or ground from Hungary dropped sharply to 37 kg, shrinking by -21.3% against the previous year's figure. In general, exports continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2021 with an increase of 18%.

In value terms, spices; mace, crushed or ground exports contracted notably to $1.2K in 2022. Overall, exports, however, continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 147%.

Top Export Markets for Spices; Mace, Crushed or Ground from Hungary in 2022:

1. Czech Republic (33.0 kg)
2. Croatia (2.0 kg)
3. Netherlands (1.0 kg)
4. South Africa (1.0 kg)

Source: IndexBox Market Intelligence Platform