Price for Spices; Mixtures of 2 or More Products of the Same Heading in Italy - 2023
Contents:
- Price for Spices; Mixtures of 2 or More Products of the Same Heading in Italy (CIF) - 2023
- Price for Spices; Mixtures of 2 or More Products of the Same Heading in Italy (FOB) - 2023
- Imports of Spices; Mixtures of 2 or More Products of the Same Heading in Italy
- Exports of Spices; Mixtures of 2 or More Products of the Same Heading in Italy
Price for Spices; Mixtures of 2 or More Products of the Same Heading in Italy (CIF) - 2023
The average import price for spices; mixtures of 2 or more products of the same heading stood at $3,949 per ton in October 2023, which is down by -6.3% against the previous month. Overall, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in November 2022 when the average import price increased by 79% m-o-m. The import price peaked at $9,116 per ton in May 2023; however, from June 2023 to October 2023, import prices stood at a somewhat lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Brazil ($12,506 per ton), while the price for China ($1,301 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 Egypt (+7.0%), 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 Italy (FOB) - 2023
In October 2023, the average export price for spices; mixtures of 2 or more products of the same heading amounted to $13,217 per ton, increasing by 67% against the previous month. Over the period under review, the export price saw a prominent increase. The growth pace was the most rapid in July 2023 an increase of 98% month-to-month. Over the period under review, the average export prices attained the maximum in October 2023.
There were significant differences in the average prices for the major export markets. In October 2023, the country with the highest price was the United States ($126K per ton), while the average price for exports to Serbia ($3,396 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 States (+19.5%), 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 Italy
After three years of growth, supplies from abroad of spices; mixtures of 2 or more products of the same heading decreased by -10.9% to 1.5K tons in 2022. In general, total imports indicated prominent growth from 2019 to 2022: its volume increased at an average annual rate of +16.6% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +58.4% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 37% against the previous year. As a result, imports attained the peak of 1.6K tons, and then reduced in the following year.
In value terms, imports of spices; mixtures of 2 or more products of the same heading declined to $9.2M in 2022. Over the period under review, total imports indicated a resilient increase from 2019 to 2022: its value increased at an average annual rate of +13.8% 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 +47.4% against 2019 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 38%. As a result, imports reached the peak of $10M, and then contracted in the following year.
| Import of Spices; Mixtures of 2 or More Products of the Same Heading in Italy (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Spain | 1,959 | 2,483 | 3,185 | 2,974 | 14.9% |
| Germany | 849 | 660 | 1,114 | 1,436 | 19.1% |
| Egypt | 130 | 139 | 212 | 692 | 74.6% |
| Turkey | 221 | 370 | 403 | 495 | 30.8% |
| Netherlands | 546 | 218 | 609 | 483 | -4.0% |
| Poland | 74.1 | 205 | 541 | 427 | 79.3% |
| Romania | 316 | 561 | 1,021 | 386 | 6.9% |
| Brazil | 359 | 174 | 503 | 330 | -2.8% |
| Belgium | 84.8 | 16.2 | 88.4 | 294 | 51.4% |
| China | 85.0 | 62.0 | 210 | 203 | 33.7% |
| India | 76.2 | 174 | 369 | 181 | 33.4% |
| Morocco | 149 | 179 | 183 | 145 | -0.9% |
| Albania | 84.0 | 183 | 176 | 108 | 8.7% |
| Others | 1,313 | 1,906 | 1,477 | 1,051 | -7.2% |
| Total | 6,246 | 7,328 | 10,092 | 9,206 | 13.8% |
Top Suppliers of Spices; Mixtures of 2 or More Products of the Same Heading to Italy in 2022:
- Spain (295.7 tons)
- Egypt (235.7 tons)
- Turkey (197.7 tons)
- Romania (118.2 tons)
- China (98.8 tons)
- Germany (72.6 tons)
- Poland (69.5 tons)
- Netherlands (58.3 tons)
- India (55.3 tons)
- Albania (35.0 tons)
- Morocco (29.0 tons)
- Brazil (28.5 tons)
- Belgium (27.1 tons)
Exports of Spices; Mixtures of 2 or More Products of the Same Heading in Italy
For the third consecutive year, Italy recorded decline in shipments abroad of spices; mixtures of 2 or more products of the same heading, which decreased by -6.2% to 662 tons in 2022. Over the period under review, exports saw a abrupt contraction. The smallest decline of -2% was in 2021.
In value terms, exports of spices; mixtures of 2 or more products of the same heading dropped to $4.8M in 2022. Overall, exports saw a deep setback. The smallest decline of -1.9% was in 2021.
| Export of Spices; Mixtures of 2 or More Products of the Same Heading in Italy (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 944 | 958 | 1,150 | 1,021 | 2.6% |
| France | 365 | 307 | 415 | 636 | 20.3% |
| Belgium | 84.3 | 304 | 245 | 390 | 66.6% |
| United Kingdom | 1,048 | 921 | 310 | 344 | -31.0% |
| United States | 136 | 201 | 211 | 302 | 30.5% |
| Netherlands | 615 | 576 | 583 | 253 | -25.6% |
| Spain | 282 | 242 | 413 | 230 | -6.6% |
| Austria | 195 | 246 | 190 | 164 | -5.6% |
| Russia | N/A | 37.6 | 182 | 146 | 97.1% |
| Slovenia | 83.4 | 113 | 92.3 | 109 | 9.3% |
| Croatia | 128 | 75.6 | 77.3 | 93.1 | -10.1% |
| Portugal | 45.2 | 17.6 | 94.4 | 91.6 | 26.5% |
| Malta | 18.8 | 27.0 | 61.9 | 68.9 | 54.2% |
| Others | 1,902 | 1,393 | 1,289 | 949 | -20.7% |
| Total | 5,847 | 5,418 | 5,314 | 4,796 | -6.4% |
Top Export Markets for Spices; Mixtures of 2 or More Products of the Same Heading from Italy in 2022:
- Germany (152.6 tons)
- France (94.2 tons)
- United Kingdom (50.9 tons)
- Netherlands (41.5 tons)
- Slovenia (36.5 tons)
- Belgium (36.0 tons)
- Spain (26.5 tons)
- Austria (23.1 tons)
- United States (19.9 tons)
- Malta (18.6 tons)
- Croatia (18.1 tons)
- Russia (15.2 tons)
- Portugal (12.3 tons)
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