Price for Spices; Mixtures of 2 or More Products of the Same Heading in Lithuania - 2023
Contents:
- Price for Spices; Mixtures of 2 or More Products of the Same Heading in Lithuania (CIF) - 2023
- Price for Spices; Mixtures of 2 or More Products of the Same Heading in Lithuania (FOB) - 2022
- Imports of Spices; Mixtures of 2 or More Products of the Same Heading in Lithuania
- Exports of Spices; Mixtures of 2 or More Products of the Same Heading in Lithuania
Price for Spices; Mixtures of 2 or More Products of the Same Heading in Lithuania (CIF) - 2023
In October 2023, the average import price for spices; mixtures of 2 or more products of the same heading amounted to $7,558 per ton, jumping by 25% against the previous month. In general, the import price continues to indicate a temperate increase. The growth pace was the most rapid in June 2023 when the average import price increased by 70% against the previous month. Over the period under review, average import prices hit record highs at $12,530 per ton in April 2023; however, from May 2023 to October 2023, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In October 2023, the country with the highest price was Austria ($25,620 per ton), while the price for Egypt ($1,873 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 India (+11.6%), 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 Lithuania (FOB) - 2022
The average export price for spices; mixtures of 2 or more products of the same heading stood at $7,188 per ton in 2022, jumping by 44% against the previous year. Overall, export price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Estonia ($9,407 per ton), while the average price for exports to the United Arab Emirates ($1,591 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 (+9.1%), 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 Lithuania
In 2022, after three years of growth, there was significant decline in supplies from abroad of spices; mixtures of 2 or more products of the same heading, when their volume decreased by -30.9% to 249 tons. Over the period under review, total imports indicated a resilient expansion from 2019 to 2022: its volume increased at an average annual rate of +7.3% 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 +23.5% against 2019 indices. The pace of growth was the most pronounced in 2021 when imports increased by 67% against the previous year. As a result, imports reached the peak of 361 tons, and then dropped rapidly in the following year.
In value terms, imports of spices; mixtures of 2 or more products of the same heading reduced sharply to $1.5M in 2022. In general, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 31% against the previous year. As a result, imports reached the peak of $1.9M, and then declined dramatically in the following year.
| Import of Spices; Mixtures of 2 or More Products of the Same Heading in Lithuania (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Estonia | 626 | 687 | 592 | 539 | -4.9% |
| Turkey | 67.7 | 204 | 234 | 267 | 58.0% |
| Austria | 126 | 135 | 149 | 153 | 6.7% |
| Latvia | 74.5 | 104 | 121 | 107 | 12.8% |
| Italy | 27.2 | 31.6 | 127 | 103 | 55.9% |
| Poland | 103 | 111 | 130 | 102 | -0.3% |
| Germany | 176 | 38.0 | 58.7 | 41.6 | -38.2% |
| Netherlands | 39.0 | 8.1 | 18.7 | 20.2 | -19.7% |
| France | 19.8 | 33.3 | 34.1 | 16.3 | -6.3% |
| Egypt | 22.1 | 22.2 | 26.2 | 8.5 | -27.3% |
| India | 3.4 | 6.5 | 5.3 | 4.0 | 5.6% |
| Georgia | 93.6 | 8.2 | 4.7 | 2.5 | -70.1% |
| Others | 42.2 | 55.6 | 395 | 95.1 | 31.1% |
| Total | 1,422 | 1,445 | 1,896 | 1,459 | 0.9% |
Top Suppliers of Spices; Mixtures of 2 or More Products of the Same Heading to Lithuania in 2022:
- Turkey (87.7 tons)
- Estonia (42.6 tons)
- Italy (31.9 tons)
- Poland (24.0 tons)
- Latvia (22.3 tons)
- Austria (7.6 tons)
- Netherlands (5.7 tons)
- Egypt (5.3 tons)
- France (3.4 tons)
- Germany (3.4 tons)
- India (3.0 tons)
- Georgia (0.6 tons)
Exports of Spices; Mixtures of 2 or More Products of the Same Heading in Lithuania
After three years of growth, shipments abroad of spices; mixtures of 2 or more products of the same heading decreased by -51.2% to 122 tons in 2022. In general, exports, however, saw a prominent increase. The most prominent rate of growth was recorded in 2021 when exports increased by 132%. As a result, the exports attained the peak of 250 tons, and then shrank remarkably in the following year.
In value terms, exports of spices; mixtures of 2 or more products of the same heading declined rapidly to $876K in 2022. Over the period under review, exports, however, continue to indicate a remarkable increase. The pace of growth was the most pronounced in 2021 when exports increased by 70% against the previous year. As a result, the exports reached the peak of $1.3M, and then declined notably in the following year.
| Export of Spices; Mixtures of 2 or More Products of the Same Heading in Lithuania (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 34.3 | 57.8 | 214 | 345 | 115.9% |
| Latvia | 330 | 437 | 727 | 199 | -15.5% |
| Estonia | 76.6 | 85.4 | 94.6 | 107 | 11.8% |
| Russia | 51.7 | 39.1 | 94.1 | 93.4 | 21.8% |
| United Kingdom | 21.7 | 47.3 | 33.3 | 43.1 | 25.7% |
| United Arab Emirates | N/A | N/A | N/A | 4.3 | 0% |
| Belgium | 4.6 | 16.3 | N/A | N/A | 254.3% |
| Others | 32.4 | 54.6 | 86.9 | 84.1 | 37.4% |
| Total | 551 | 737 | 1,251 | 876 | 16.7% |
Top Export Markets for Spices; Mixtures of 2 or More Products of the Same Heading from Lithuania in 2022:
- Germany (37.5 tons)
- Latvia (34.7 tons)
- Russia (22.5 tons)
- Estonia (11.4 tons)
- United Kingdom (4.8 tons)
- United Arab Emirates (2.7 tons)
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