Price for Spices; Mixtures of 2 or More Products of the Same Heading in Belgium - 2023
Contents:
- Price for Spices; Mixtures of 2 or More Products of the Same Heading in Belgium (CIF) - 2022
- Price for Spices; Mixtures of 2 or More Products of the Same Heading in Belgium (FOB) - 2023
- Imports of Spices; Mixtures of 2 or More Products of the Same Heading in Belgium
- Exports of Spices; Mixtures of 2 or More Products of the Same Heading in Belgium
Price for Spices; Mixtures of 2 or More Products of the Same Heading in Belgium (CIF) - 2022
The average import price for spices; mixtures of 2 or more products of the same heading stood at $4,304 per ton in 2022, shrinking by -2.2% against the previous year. Over the period under review, the import price continues to indicate a pronounced slump. The pace of growth was the most pronounced in 2016 when the average import price increased by 32%. Over the period under review, average import prices reached the maximum at $5,681 per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Israel ($8,210 per ton), while the price for Poland ($2,493 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+4.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Spices; Mixtures of 2 or More Products of the Same Heading in Belgium (FOB) - 2023
In October 2023, the average export price for spices; mixtures of 2 or more products of the same heading amounted to $5,001 per ton, dropping by -17.2% against the previous month. Over the period from October 2022 to October 2023, it increased at an average monthly rate of +2.8%. The growth pace was the most rapid in November 2022 when the average export price increased by 40% against the previous month. Over the period under review, the average export prices reached the maximum at $6,039 per ton in September 2023, and then contracted markedly in the following month.
Prices varied noticeably by the country of destination: the country with the highest price was Democratic Republic of the Congo ($6,861 per ton), while the average price for exports to Chad ($979 per ton) was amongst the lowest.
From October 2022 to October 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+22.2%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Spices; Mixtures of 2 or More Products of the Same Heading in Belgium
In 2022, purchases abroad of spices; mixtures of 2 or more products of the same heading decreased by -6.6% to 6.4K tons for the first time since 2018, thus ending a three-year rising trend. In general, total imports indicated prominent growth from 2019 to 2022: its volume increased at an average annual rate of +18.6% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +66.9% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 45% against the previous year. As a result, imports reached the peak of 6.9K tons, and then fell in the following year.
In value terms, imports of spices; mixtures of 2 or more products of the same heading contracted to $28M in 2022. The total import value increased at an average annual rate of +8.8% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 19% against the previous year. As a result, imports attained the peak of $30M, and then dropped in the following year.
| Import of Spices; Mixtures of 2 or More Products of the Same Heading in Belgium (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 10.4 | 10.5 | 12.6 | 11.6 | 3.7% |
| France | 2.9 | 2.9 | 3.6 | 3.6 | 7.5% |
| Germany | 2.4 | 3.1 | 3.7 | 2.9 | 6.5% |
| Spain | 1.8 | 2.3 | 2.8 | 2.5 | 11.6% |
| India | 0.3 | 0.7 | 0.9 | 2.3 | 97.2% |
| Turkey | 1.5 | 2.3 | 2.3 | 1.2 | -7.2% |
| Poland | 0.2 | 0.3 | 0.6 | 0.6 | 44.2% |
| United Kingdom | 0.6 | 0.4 | 0.3 | 0.1 | -45.0% |
| Syrian Arab Republic | N/A | 0.2 | 0.2 | 0.1 | -29.3% |
| Others | 1.3 | 2.8 | 3.4 | 2.7 | 27.6% |
| Total | 21.5 | 25.5 | 30.3 | 27.7 | 8.8% |
Top Suppliers of Spices; Mixtures of 2 or More Products of the Same Heading to Belgium in 2022:
- Netherlands (2344.3 tons)
- France (1427.4 tons)
- India (788.8 tons)
- Spain (437.7 tons)
- Germany (377.3 tons)
- Turkey (248.8 tons)
- Poland (247.0 tons)
- Syrian Arab Republic (52.3 tons)
- United Kingdom (14.3 tons)
Exports of Spices; Mixtures of 2 or More Products of the Same Heading in Belgium
In 2022, after three years of growth, there was decline in overseas shipments of spices; mixtures of 2 or more products of the same heading, when their volume decreased by -4% to 2.5K tons. Over the period under review, total exports indicated a remarkable increase from 2019 to 2022: its volume increased at an average annual rate of +17.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +63.9% against 2019 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 53%.
In value terms, exports of spices; mixtures of 2 or more products of the same heading shrank to $9.7M in 2022. In general, total exports indicated a strong expansion from 2019 to 2022: its value increased at an average annual rate of +17.7% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +63.1% against 2019 indices. The pace of growth appeared the most rapid in 2020 when exports increased by 59% against the previous year.
| Export of Spices; Mixtures of 2 or More Products of the Same Heading in Belgium (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 1.2 | 2.2 | 3.8 | 2.5 | 27.7% |
| Germany | 0.5 | 2.0 | 2.2 | 2.1 | 61.3% |
| France | 1.1 | 1.5 | 1.8 | 1.6 | 13.3% |
| United Kingdom | 1.5 | 2.0 | 1.7 | 1.5 | 0.0% |
| Luxembourg | 0.3 | 0.3 | 0.3 | 0.3 | 0.0% |
| Italy | N/A | N/A | 0.1 | 0.2 | 100.0% |
| Portugal | 0.3 | 0.1 | 0.1 | 0.2 | -12.6% |
| Sweden | 0.3 | 0.3 | 0.1 | 0.1 | -30.7% |
| Others | 0.9 | 0.9 | 1.0 | 1.1 | 6.9% |
| Total | 5.9 | 9.4 | 11.4 | 9.7 | 18.0% |
Top Export Markets for Spices; Mixtures of 2 or More Products of the Same Heading from Belgium in 2022:
- Netherlands (746.1 tons)
- Germany (561.1 tons)
- France (396.3 tons)
- United Kingdom (394.2 tons)
- Luxembourg (60.8 tons)
- Portugal (49.5 tons)
- Italy (49.0 tons)
- Sweden (28.2 tons)
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