Price for Spices; Mixtures of 2 or More Products of the Same Heading in Pakistan - 2023
Contents:
- Price for Spices; Mixtures of 2 or More Products of the Same Heading in Pakistan (FOB) - 2023
- Price for Spices; Mixtures of 2 or More Products of the Same Heading in Pakistan (CIF) - 2023
- Exports of Spices; Mixtures of 2 or More Products of the Same Heading in Pakistan
- Imports of Spices; Mixtures of 2 or More Products of the Same Heading in Pakistan
Price for Spices; Mixtures of 2 or More Products of the Same Heading in Pakistan (FOB) - 2023
In July 2023, the average export price for spices; mixtures of 2 or more products of the same heading amounted to $931 per ton, dropping by -40.5% against the previous month. Over the period under review, the export price saw a perceptible slump. The most prominent rate of growth was recorded in October 2022 when the average export price increased by 33% m-o-m. As a result, the export price reached the peak level of $1,752 per ton. From November 2022 to July 2023, the the average export prices remained at a somewhat lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was the United States ($2,891 per ton), while the average price for exports to Thailand ($487 per ton) was amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+3.8%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Spices; Mixtures of 2 or More Products of the Same Heading in Pakistan (CIF) - 2023
The average import price for spices; mixtures of 2 or more products of the same heading stood at $883 per ton in July 2023, leveling off at the previous month. In general, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in August 2022 an increase of 16% m-o-m. The import price peaked at $1,129 per ton in October 2022; however, from November 2022 to July 2023, import prices failed to regain momentum.
Average prices varied somewhat amongst the major supplying countries. In July 2023, the countries with the highest prices were China ($914 per ton) and Sri Lanka ($899 per ton), while the price for Turkey ($624 per ton) and Vietnam ($898 per ton) were amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Vietnam (+1.3%), while the prices for the other major suppliers experienced mixed trend patterns.
Exports of Spices; Mixtures of 2 or More Products of the Same Heading in Pakistan
In 2022, shipments abroad of spices; mixtures of 2 or more products of the same heading decreased by -22.2% to 5.2K tons for the first time since 2018, thus ending a three-year rising trend. Overall, exports, however, posted a strong increase. The pace of growth appeared the most rapid in 2021 when exports increased by 76% against the previous year. As a result, the exports attained the peak of 6.7K tons, and then dropped remarkably in the following year.
In value terms, exports of spices; mixtures of 2 or more products of the same heading dropped significantly to $9.1M in 2022. Over the period under review, total exports indicated a perceptible expansion from 2019 to 2022: its value increased at an average annual rate of +4.8% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +15.0% against 2019 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 52% against the previous year. As a result, the exports reached the peak of $12M, and then fell dramatically in the following year.
| Export of Spices; Mixtures of 2 or More Products of the Same Heading in Pakistan (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Arab Emirates | 2,267 | 1,904 | 2,698 | 1,547 | -12.0% |
| Saudi Arabia | 944 | 1,294 | 1,670 | 1,394 | 13.9% |
| United States | 717 | 828 | 1,113 | 873 | 6.8% |
| United Kingdom | 465 | 558 | 1,129 | 732 | 16.3% |
| China | 1.5 | 2.3 | 27.3 | 546 | 614.0% |
| Australia | 297 | 339 | 571 | 518 | 20.4% |
| Canada | 284 | 345 | 527 | 377 | 9.9% |
| Sudan | 96.3 | 515 | 391 | 332 | 51.1% |
| Iraq | 85.2 | 25.5 | 165 | 268 | 46.5% |
| Indonesia | 141 | N/A | 136 | 241 | 19.6% |
| Vietnam | 2.4 | N/A | N/A | 180 | 321.7% |
| Oman | 30.4 | 57.5 | 42.8 | 172 | 78.2% |
| Bangladesh | 164 | 106 | 116 | 80.9 | -21.0% |
| Others | 2,411 | 1,987 | 3,495 | 1,827 | -8.8% |
| Total | 7,906 | 7,962 | 12,081 | 9,089 | 4.8% |
Top Export Markets for Spices; Mixtures of 2 or More Products of the Same Heading from Pakistan in 2022:
- United Arab Emirates (1530.5 tons)
- Saudi Arabia (778.9 tons)
- Sudan (384.0 tons)
- United Kingdom (311.0 tons)
- United States (201.3 tons)
- China (196.1 tons)
- Indonesia (162.7 tons)
- Oman (160.5 tons)
- Australia (149.6 tons)
- Vietnam (135.2 tons)
- Canada (129.3 tons)
- Bangladesh (128.2 tons)
- Iraq (111.9 tons)
Imports of Spices; Mixtures of 2 or More Products of the Same Heading in Pakistan
In 2022, imports of spices; mixtures of 2 or more products of the same heading into Pakistan skyrocketed to 917 tons, picking up by 21% on the previous year's figure. Overall, imports showed a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 164% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.
In value terms, imports of spices; mixtures of 2 or more products of the same heading reduced to $863K in 2022. In general, imports enjoyed a significant expansion. The pace of growth was the most pronounced in 2020 with an increase of 126% against the previous year.
| Import of Spices; Mixtures of 2 or More Products of the Same Heading in Pakistan (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Sri Lanka | 8.0 | 76.0 | 199 | 286 | 229.4% |
| China | 0.1 | 255 | 130 | 195 | 1149.3% |
| Vietnam | N/A | 1.1 | 14.1 | 142 | 1036.2% |
| Nepal | N/A | 23.5 | 87.4 | 97.2 | 103.4% |
| Turkey | 4.8 | 9.5 | 12.1 | 70.9 | 145.4% |
| United Arab Emirates | 95.5 | 294 | 478 | 24.8 | -36.2% |
| India | 201 | N/A | N/A | N/A | 0% |
| Myanmar | N/A | 11.9 | 65.6 | N/A | 451.3% |
| Others | 21.7 | 78.7 | 25.3 | 47.4 | 29.7% |
| Total | 331 | 750 | 1,011 | 863 | 37.6% |
Top Suppliers of Spices; Mixtures of 2 or More Products of the Same Heading to Pakistan in 2022:
- Sri Lanka (307.8 tons)
- China (218.9 tons)
- Vietnam (156.0 tons)
- Nepal (115.7 tons)
- Turkey (61.1 tons)
- United Arab Emirates (20.2 tons)
47
This report provides an in-depth analysis of the market for spices except pepper or ginger in Pakistan.
2838
This report provides an in-depth analysis of the ginger market in Pakistan.
531
This report provides an in-depth analysis of the market for dog and cat food in Pakistan.
1884
This report provides an in-depth analysis of the apricot market in Pakistan.
1105
This report provides an in-depth analysis of the virgin olive oil market in Pakistan.
1314
This report provides an in-depth analysis of the paint and varnish market in Pakistan.
472
This report provides an in-depth analysis of the olive oil market in Pakistan.
347
This report provides an in-depth analysis of the market for urea and thiourea resins in Pakistan.
296
This report provides an in-depth analysis of the assembled clock movements market in Pakistan.
394
This report provides an in-depth analysis of the diphosphorus pentaoxide market in Pakistan.
909
The global ginger market is forecast to reach USD 10.3 billion by 2030, growing at a CAGR of 4.7% during the forecast period (2022-2030).
1022
In the wake of the pandemic, the ginger market has accelerated its growth as demand for foods with a reputation for immunity system health has soared to unprecedented heights. India, which almost tripled its export of ginger in 2020, may become a serious competitor to the main global supplier - China. The majority of the developed countries have increased the volume of imports, which, in the context of Covid restrictions and a shortage of container traffic, has led to an increase in prices for the product.
783
The global ginger market revenue amounted to $5.3B in 2018, jumping by 2.8% against the previous year. This figure...
7504
Global ginger consumption amounted to X thousand tons in 2015, picking up by +X% against the previous year level.
8586
Global ginger imports amounted to X thousand tons in 2015, picking up by +X% against the previous year level.
1381
The global ginger market recorded a positive trend over the period under review, growing from X thousand tons in 2007 to X thousand tons in 2015 with a CAGR +X>
7887
The value of total imports on the global ginger market in 2015 stood at X million USD. There was an annual increase of +X% for the period from 2007 to 2015. In physical terms, imports of ginger was X thousand tons i
11868
In 2015, the leading ginger consuming markets were India (X%), Indonesia (X%), Nepal (X%), Nigeria (X%), and China (X%), together accounting for approximately X% of global consumption. These countries were also amongst the leading producers on the g
1621
From 2007 to 2015, global exports on the ginger market grew by +X% per year, amounting to X million USD in 2015. In physical terms, exports were X thousand tons in 2015, X thousand tons more than the year before.
3387
The global ginger production was estimated at X thousand tons in 2015, which was X thousand tons (or X%) more than in 2014.
