Price for Spices; Mixtures of 2 or More Products of the Same Heading in Bulgaria - 2023
Contents:
- Price for Spices; Mixtures of 2 or More Products of the Same Heading in Bulgaria (FOB) - 2023
- Price for Spices; Mixtures of 2 or More Products of the Same Heading in Bulgaria (CIF) - 2022
- Exports of Spices; Mixtures of 2 or More Products of the Same Heading in Bulgaria
- Imports of Spices; Mixtures of 2 or More Products of the Same Heading in Bulgaria
Price for Spices; Mixtures of 2 or More Products of the Same Heading in Bulgaria (FOB) - 2023
The average export price for spices; mixtures of 2 or more products of the same heading stood at $4,289 per ton in October 2023, which is down by -4.1% against the previous month. In general, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in February 2023 an increase of 50% month-to-month. As a result, the export price reached the peak level of $6,864 per ton. From March 2023 to October 2023, the the average export prices remained at a somewhat lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was Malaysia ($26,013 per ton), while the average price for exports to Georgia ($1,034 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 North Macedonia (+1.6%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Spices; Mixtures of 2 or More Products of the Same Heading in Bulgaria (CIF) - 2022
In 2022, the average import price for spices; mixtures of 2 or more products of the same heading amounted to $3,144 per ton, picking up by 12% against the previous year. Over the last decade, it increased at an average annual rate of +1.3%. The growth pace was the most rapid in 2013 when the average import price increased by 27%. As a result, import price reached the peak level of $3,481 per ton. From 2014 to 2022, the average 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 Greece ($7,082 per ton), while the price for Syrian Arab Republic ($1,008 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Syrian Arab Republic (+23.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Spices; Mixtures of 2 or More Products of the Same Heading in Bulgaria
After three years of growth, overseas shipments of spices; mixtures of 2 or more products of the same heading decreased by -27.4% to 352 tons in 2022. Overall, exports, however, enjoyed a significant expansion. The pace of growth appeared the most rapid in 2021 when exports increased by 103% against the previous year. As a result, the exports reached the peak of 484 tons, and then reduced dramatically in the following year.
In value terms, exports of spices; mixtures of 2 or more products of the same heading fell remarkably to $1.8M in 2022. In general, exports, however, posted significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 120% against the previous year. As a result, the exports reached the peak of $2.2M, and then declined rapidly in the following year.
| Export of Spices; Mixtures of 2 or More Products of the Same Heading in Bulgaria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 108 | 370 | 943 | 1,049 | 113.4% |
| United Kingdom | 78.4 | 152 | 109 | 142 | 21.9% |
| Spain | 41.2 | 74.3 | 65.8 | 70.9 | 19.8% |
| Belgium | 28.4 | 35.5 | 49.9 | 60.9 | 29.0% |
| Hungary | N/A | 0.3 | 121 | 57.9 | 1289.2% |
| United States | 35.0 | 54.9 | 39.0 | 56.2 | 17.1% |
| Netherlands | 27.3 | 39.1 | 39.8 | 48.2 | 20.9% |
| Greece | 41.1 | 62.1 | 227 | 47.6 | 5.0% |
| North Macedonia | 15.2 | 17.4 | 33.2 | 40.0 | 38.1% |
| Canada | 36.3 | 3.6 | 38.0 | 34.8 | -1.4% |
| Russia | 1.4 | N/A | 7.6 | 28.2 | 172.1% |
| Romania | 19.8 | 59.6 | 197 | 11.7 | -16.1% |
| Others | 152 | 117 | 296 | 175 | 4.8% |
| Total | 584 | 986 | 2,166 | 1,823 | 46.1% |
Top Export Markets for Spices; Mixtures of 2 or More Products of the Same Heading from Bulgaria in 2022:
- Germany (194.6 tons)
- Hungary (20.7 tons)
- United Kingdom (18.6 tons)
- Russia (14.0 tons)
- Spain (12.8 tons)
- North Macedonia (11.8 tons)
- Belgium (11.7 tons)
- Greece (10.4 tons)
- Netherlands (10.2 tons)
- Romania (6.5 tons)
- Canada (6.2 tons)
- United States (5.8 tons)
Imports of Spices; Mixtures of 2 or More Products of the Same Heading in Bulgaria
In 2022, the amount of spices; mixtures of 2 or more products of the same heading imported into Bulgaria contracted to 441 tons, shrinking by -9.2% compared with the year before. In general, imports saw a drastic downturn. The pace of growth appeared the most rapid in 2021 with an increase of 12%.
In value terms, imports of spices; mixtures of 2 or more products of the same heading totaled $1.4M in 2022. The total import value increased at an average annual rate of +3.1% over the period from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by 17% against the previous year. Over the period under review, imports of spices; mixtures of 2 or more products of same heading attained the maximum in 2022 and are likely to see steady growth in years to come.
| Import of Spices; Mixtures of 2 or More Products of the Same Heading in Bulgaria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 178 | 206 | 349 | 333 | 23.2% |
| Latvia | N/A | N/A | 43.9 | 156 | 255.4% |
| Greece | 326 | 82.3 | 95.4 | 138 | -24.9% |
| Egypt | 80.4 | 83.7 | 105 | 128 | 16.8% |
| Turkey | 109 | 49.1 | 148 | 113 | 1.2% |
| Poland | 100 | 180 | 60.9 | 67.8 | -12.1% |
| India | 18.4 | 31.8 | 51.5 | 55.2 | 44.2% |
| Romania | 4.0 | 8.2 | 41.5 | 43.1 | 120.9% |
| Italy | 17.7 | 16.2 | 28.8 | 42.3 | 33.7% |
| Spain | 7.8 | 17.2 | 26.7 | 27.1 | 51.5% |
| North Macedonia | 2.4 | 2.1 | 2.2 | 22.6 | 111.2% |
| Georgia | 12.6 | 23.1 | 55.2 | 21.4 | 19.3% |
| Syrian Arab Republic | N/A | 21.9 | 20.2 | 15.5 | -15.9% |
| Others | 409 | 441 | 338 | 224 | -18.2% |
| Total | 1,265 | 1,164 | 1,366 | 1,388 | 3.1% |
Top Suppliers of Spices; Mixtures of 2 or More Products of the Same Heading to Bulgaria in 2022:
- Egypt (90.5 tons)
- Germany (63.1 tons)
- Romania (40.8 tons)
- Latvia (39.9 tons)
- Turkey (38.8 tons)
- India (31.8 tons)
- Italy (23.6 tons)
- North Macedonia (21.0 tons)
- Greece (19.5 tons)
- Syrian Arab Republic (15.4 tons)
- Poland (10.8 tons)
- Spain (8.9 tons)
- Georgia (8.3 tons)
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