Price for Spices; Mixtures of 2 or More Products of the Same Heading in Finland - 2023
Contents:
- Price for Spices; Mixtures of 2 or More Products of the Same Heading in Finland (CIF) - 2023
- Price for Spices; Mixtures of 2 or More Products of the Same Heading in Finland (FOB) - 2022
- Imports of Spices; Mixtures of 2 or More Products of the Same Heading in Finland
- Exports of Spices; Mixtures of 2 or More Products of the Same Heading in Finland
Price for Spices; Mixtures of 2 or More Products of the Same Heading in Finland (CIF) - 2023
In October 2023, the average import price for spices; mixtures of 2 or more products of the same heading amounted to $3,677 per ton, dropping by -66.1% against the previous month. Over the period under review, the import price recorded a abrupt downturn. The pace of growth appeared the most rapid in February 2023 when the average import price increased by 129% m-o-m. As a result, import price attained the peak level of $14,311 per ton. From March 2023 to October 2023, the average import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In October 2023, the country with the highest price was Turkey ($5,575 per ton), while the price for Morocco stood at $2,553 per ton.
From October 2022 to October 2023, the most notable rate of growth in terms of prices was attained by the Netherlands (+1.8%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Spices; Mixtures of 2 or More Products of the Same Heading in Finland (FOB) - 2022
In 2022, the average export price for spices; mixtures of 2 or more products of the same heading amounted to $16,314 per ton, picking up by 24% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the average export price increased by 63%. As a result, the export price attained the peak level of $20,781 per ton. From 2020 to 2022, the average export prices failed to regain momentum.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($44,885 per ton), while the average price for exports to Belarus ($3,949 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 the United States (+21.0%), 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 Finland
In 2022, approx. 309 tons of spices; mixtures of 2 or more products of the same heading were imported into Finland; with an increase of 26% against the previous year's figure. In general, total imports indicated prominent growth from 2019 to 2022: its volume increased at an average annual rate of +13.2% 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 +87.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 49% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in years to come.
In value terms, imports of spices; mixtures of 2 or more products of the same heading expanded notably to $2.9M in 2022. The total import value increased at an average annual rate of +7.0% 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 2021 when imports increased by 32%. Over the period under review, imports of spices; mixtures of 2 or more products of same heading reached the peak figure in 2022 and are likely to see steady growth in the immediate term.
| Import of Spices; Mixtures of 2 or More Products of the Same Heading in Finland (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 530 | 610 | 1,050 | 1,168 | 30.1% |
| Sweden | 457 | 497 | 650 | 907 | 25.7% |
| Germany | 499 | 627 | 602 | 505 | 0.4% |
| Denmark | 11.0 | 12.0 | 55.5 | 72.1 | 87.1% |
| Greece | N/A | N/A | N/A | 66.5 | 0% |
| Lithuania | N/A | N/A | N/A | 14.8 | 0% |
| Italy | 46.8 | 13.4 | 4.1 | 12.1 | -36.3% |
| India | 46.9 | 23.9 | 48.0 | 11.2 | -38.0% |
| Turkey | 146 | 38.6 | 45.3 | 10.4 | -58.5% |
| Others | 639 | 171 | 167 | 141 | -39.6% |
| Total | 2,376 | 1,993 | 2,622 | 2,907 | 7.0% |
Top Suppliers of Spices; Mixtures of 2 or More Products of the Same Heading to Finland in 2022:
- Netherlands (129.6 tons)
- Sweden (96.0 tons)
- Germany (43.4 tons)
- Denmark (6.5 tons)
- Greece (5.8 tons)
- Lithuania (4.7 tons)
- India (3.9 tons)
- Turkey (2.3 tons)
- Italy (2.1 tons)
Exports of Spices; Mixtures of 2 or More Products of the Same Heading in Finland
After three years of growth, overseas shipments of spices; mixtures of 2 or more products of the same heading decreased by -55.7% to 1 tons in 2022. In general, exports continue to indicate a perceptible slump. The growth pace was the most rapid in 2020 with an increase of 43% against the previous year.
In value terms, exports of spices; mixtures of 2 or more products of the same heading fell remarkably to $17K in 2022. Over the period under review, exports faced a deep reduction. The pace of growth appeared the most rapid in 2021 with an increase of 13%. As a result, the exports attained the peak of $31K, and then shrank dramatically in the following year.
| Export of Spices; Mixtures of 2 or More Products of the Same Heading in Finland (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Estonia | 11.6 | 9.2 | 9.0 | 9.2 | -7.4% |
| Sweden | 0.9 | 3.6 | 10.7 | 3.1 | 51.0% |
| Russia | 1.8 | 0.6 | 4.7 | 1.8 | 0.0% |
| United States | 0.2 | 4.6 | 2.1 | 1.2 | 81.7% |
| Poland | 0.2 | N/A | 1.3 | 0.7 | 51.8% |
| Belarus | N/A | N/A | N/A | 0.2 | 0% |
| Latvia | 0.7 | 1.1 | N/A | N/A | 57.1% |
| Lithuania | 1.5 | 5.0 | N/A | N/A | 233.3% |
| Denmark | 7.3 | 2.2 | N/A | N/A | -69.9% |
| Others | 0.2 | 1.1 | 3.0 | 0.7 | 51.8% |
| Total | 24.4 | 27.4 | 30.8 | 16.9 | -11.5% |
Top Export Markets for Spices; Mixtures of 2 or More Products of the Same Heading from Finland in 2022:
- Sweden (448.0 kg)
- Estonia (364.0 kg)
- Russia (74.0 kg)
- Belarus (59.0 kg)
- Poland (35.0 kg)
- United States (26.0 kg)
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