Price for Spices; Mixtures of 2 or More Products of the Same Heading in Canada - 2023
Contents:
- Price for Spices; Mixtures of 2 or More Products of the Same Heading in Canada (CIF) - 2023
- Price for Spices; Mixtures of 2 or More Products of the Same Heading in Canada (FOB) - 2023
- Imports of Spices; Mixtures of 2 or More Products of the Same Heading in Canada
- Exports of Spices; Mixtures of 2 or More Products of the Same Heading in Canada
Price for Spices; Mixtures of 2 or More Products of the Same Heading in Canada (CIF) - 2023
In December 2023, the average import price for spices; mixtures of 2 or more products of the same heading amounted to $4,922 per ton, rising by 3.2% against the previous month. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in October 2023 an increase of 41% against the previous month. As a result, import price reached the peak level of $5,430 per ton. From November 2023 to December 2023, the average import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In December 2023, the country with the highest price was China ($8,690 per ton), while the price for Nigeria ($1,091 per ton) was amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by China (+5.6%), 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 Canada (FOB) - 2023
The average export price for spices; mixtures of 2 or more products of the same heading stood at $3,499 per ton in December 2023, which is down by -9.2% against the previous month. In general, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in February 2023 an increase of 29% month-to-month. As a result, the export price reached the peak level of $4,106 per ton. From March 2023 to December 2023, the the average export prices remained at a lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was the United States ($5,206 per ton), while the average price for exports to France ($2,691 per ton) was amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+1.2%), while the prices for the other major destinations experienced a decline.
Imports of Spices; Mixtures of 2 or More Products of the Same Heading in Canada
In 2022, imports of spices; mixtures of 2 or more products of the same heading into Canada rose slightly to 6.2K tons, with an increase of 4.3% against 2021. The total import volume increased at an average annual rate of +7.8% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 12% against the previous year. Over the period under review, imports of spices; mixtures of 2 or more products of same heading reached the maximum in 2022 and are expected to retain growth in the immediate term.
In value terms, imports of spices; mixtures of 2 or more products of the same heading rose markedly to $32M in 2022. In general, total imports indicated buoyant growth from 2019 to 2022: its value increased at an average annual rate of +16.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +59.6% against 2019 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 25%. Over the period under review, imports of spices; mixtures of 2 or more products of same heading hit record highs in 2022 and are expected to retain growth in the immediate term.
| Import of Spices; Mixtures of 2 or More Products of the Same Heading in Canada (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 3.2 | 3.9 | 6.0 | 7.3 | 31.6% |
| Turkey | 2.7 | 2.8 | 3.3 | 3.9 | 13.0% |
| Pakistan | 1.7 | 3.2 | 2.8 | 3.7 | 29.6% |
| China | 1.5 | 2.3 | 2.3 | 3.3 | 30.1% |
| United States | 2.1 | 2.9 | 3.5 | 3.1 | 13.9% |
| Mexico | 0.5 | 0.7 | 1.1 | 1.4 | 40.9% |
| Vietnam | 0.8 | 0.7 | 0.8 | 1.2 | 14.5% |
| Poland | 0.6 | 0.8 | 0.9 | 0.9 | 14.5% |
| Lebanon | 0.6 | 0.6 | 0.6 | 0.7 | 5.3% |
| Egypt | 0.4 | 0.4 | 0.5 | 0.6 | 14.5% |
| United Arab Emirates | 2.3 | 2.6 | 2.2 | 0.6 | -36.1% |
| Morocco | 0.5 | 0.4 | 0.5 | 0.5 | 0.0% |
| Others | 3.5 | 3.9 | 4.6 | 5.3 | 14.8% |
| Total | 20.3 | 25.4 | 29.1 | 32.5 | 17.0% |
Top Suppliers of Spices; Mixtures of 2 or More Products of the Same Heading to Canada in 2022:
- India (1903.0 tons)
- Turkey (748.4 tons)
- United States (512.2 tons)
- China (470.6 tons)
- Pakistan (382.5 tons)
- Vietnam (335.0 tons)
- Egypt (175.0 tons)
- Mexico (172.0 tons)
- Lebanon (144.0 tons)
- Morocco (124.4 tons)
- Poland (123.9 tons)
- United Arab Emirates (67.9 tons)
Exports of Spices; Mixtures of 2 or More Products of the Same Heading in Canada
In 2022, shipments abroad of spices; mixtures of 2 or more products of the same heading decreased by -4.9% to 1.6K tons for the first time since 2018, thus ending a three-year rising trend. The total export volume increased at an average annual rate of +2.7% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 8%. As a result, the exports attained the peak of 1.7K tons, and then shrank modestly in the following year.
In value terms, exports of spices; mixtures of 2 or more products of the same heading amounted to $5.5M in 2022. The total export value increased at an average annual rate of +8.4% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 24%. The exports peaked in 2022 and are likely to continue growth in the near future.
| Export of Spices; Mixtures of 2 or More Products of the Same Heading in Canada (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 1,615 | 1,348 | 2,663 | 2,360 | 13.5% |
| Jamaica | 640 | 690 | 966 | 1,051 | 18.0% |
| Trinidad and Tobago | 580 | 435 | 635 | 781 | 10.4% |
| France | 512 | 1,091 | 514 | 712 | 11.6% |
| Barbados | 730 | 531 | 364 | 308 | -25.0% |
| Germany | 58.7 | 63.5 | 28.3 | 71.9 | 7.0% |
| Others | 192 | 98.3 | 102 | 235 | 7.0% |
| Total | 4,328 | 4,257 | 5,273 | 5,519 | 8.4% |
Top Export Markets for Spices; Mixtures of 2 or More Products of the Same Heading from Canada in 2022:
- United States (545.0 tons)
- Jamaica (332.8 tons)
- France (275.8 tons)
- Trinidad and Tobago (237.9 tons)
- Barbados (107.7 tons)
- Germany (25.3 tons)
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