Price for Spices; Mixtures of 2 or More Products of the Same Heading in Estonia - 2023
Contents:
- Price for Spices; Mixtures of 2 or More Products of the Same Heading in Estonia (CIF) - 2023
- Price for Spices; Mixtures of 2 or More Products of the Same Heading in Estonia (FOB) - 2022
- Imports of Spices; Mixtures of 2 or More Products of the Same Heading in Estonia
- Exports of Spices; Mixtures of 2 or More Products of the Same Heading in Estonia
Price for Spices; Mixtures of 2 or More Products of the Same Heading in Estonia (CIF) - 2023
In October 2023, the average import price for spices; mixtures of 2 or more products of the same heading amounted to $4,710 per ton, surging by 23% against the previous month. In general, the import price saw mild growth. The most prominent rate of growth was recorded in June 2023 when the average import price increased by 228% m-o-m. The import price peaked at $12,492 per ton in March 2023; however, from April 2023 to October 2023, import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was Germany ($13,099 per ton), while the price for the Netherlands ($2,874 per ton) was amongst the lowest.
From October 2022 to October 2023, the most notable rate of growth in terms of prices was attained by Germany (+10.1%), 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 Estonia (FOB) - 2022
The average export price for spices; mixtures of 2 or more products of the same heading stood at $28,702 per ton in 2022, picking up by 5.1% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.8%. The most prominent rate of growth was recorded in 2013 when the average export price increased by 39%. The export price peaked at $29,328 per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Lithuania ($46,550 per ton), while the average price for exports to Germany ($5,000 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 Germany (+7.7%), 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 Estonia
In 2022, supplies from abroad of spices; mixtures of 2 or more products of the same heading was finally on the rise to reach 649 tons for the first time since 2019, thus ending a two-year declining trend. In general, total imports indicated resilient growth from 2019 to 2022: its volume increased at an average annual rate of +9.8% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, imports of spices; mixtures of 2 or more products of the same heading soared to $3.3M in 2022. Overall, total imports indicated a buoyant increase from 2019 to 2022: its value increased at an average annual rate of +13.1% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Spices; Mixtures of 2 or More Products of the Same Heading in Estonia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 310 | 442 | 354 | 1,598 | 72.7% |
| Belgium | 0.3 | N/A | N/A | 421 | 1019.6% |
| Latvia | 71.6 | 170 | 200 | 260 | 53.7% |
| Finland | 83.7 | 71.9 | 130 | 236 | 41.3% |
| Sweden | 25.4 | 200 | 166 | 185 | 93.8% |
| Lithuania | 53.4 | 76.7 | 120 | 145 | 39.5% |
| Turkey | 238 | 214 | 134 | 114 | -21.8% |
| Austria | 86.7 | 78.6 | 97.6 | 107 | 7.3% |
| India | 56.3 | 17.3 | 18.3 | 54.9 | -0.8% |
| Netherlands | 172 | 418 | 296 | 50.3 | -33.6% |
| Denmark | 1.2 | 61.4 | 79.2 | 28.4 | 187.1% |
| Poland | 284 | 98.8 | 77.4 | 6.7 | -71.3% |
| Thailand | 356 | 0.4 | 3.0 | 3.1 | -79.4% |
| Others | 543 | 202 | 93.5 | 90.5 | -45.0% |
| Total | 2,282 | 2,051 | 1,768 | 3,299 | 13.1% |
Top Suppliers of Spices; Mixtures of 2 or More Products of the Same Heading to Estonia in 2022:
- Germany (385.1 tons)
- Belgium (55.6 tons)
- Latvia (36.8 tons)
- Lithuania (27.7 tons)
- Sweden (26.8 tons)
- Finland (26.2 tons)
- Denmark (19.4 tons)
- India (19.1 tons)
- Netherlands (18.6 tons)
- Austria (12.9 tons)
- Turkey (9.7 tons)
- Poland (1.9 tons)
- Thailand (0.2 tons)
Exports of Spices; Mixtures of 2 or More Products of the Same Heading in Estonia
In 2022, after three years of growth, there was significant decline in overseas shipments of spices; mixtures of 2 or more products of the same heading, when their volume decreased by -25.4% to 28 tons. Over the period under review, exports continue to indicate a slight decline. The pace of growth was the most pronounced in 2021 with an increase of 22%. As a result, the exports attained the peak of 38 tons, and then reduced remarkably in the following year.
In value terms, exports of spices; mixtures of 2 or more products of the same heading contracted remarkably to $810K in 2022. The total export value increased at an average annual rate of +1.2% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 16% against the previous year.
| Export of Spices; Mixtures of 2 or More Products of the Same Heading in Estonia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Sweden | 598 | 694 | 773 | 498 | -5.9% |
| Latvia | 48.1 | 83.1 | 129 | 97.7 | 26.6% |
| Lithuania | 24.1 | 46.9 | 82.1 | 95.2 | 58.1% |
| Belgium | N/A | N/A | N/A | 73.6 | 0% |
| Finland | 39.5 | 7.1 | 24.5 | 17.4 | -23.9% |
| France | N/A | N/A | N/A | 12.0 | 0% |
| Russia | 58.7 | 23.1 | 4.2 | 0.9 | -75.2% |
| Others | 13.9 | 51.9 | 20.0 | 14.7 | 1.9% |
| Total | 782 | 906 | 1,032 | 810 | 1.2% |
Top Export Markets for Spices; Mixtures of 2 or More Products of the Same Heading from Estonia in 2022:
- Sweden (14.8 tons)
- Latvia (3.3 tons)
- Belgium (2.8 tons)
- Finland (2.5 tons)
- Lithuania (2.0 tons)
- France (1.9 tons)
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