Price for Spices; Mixtures of 2 or More Products of the Same Heading in Vietnam - 2022
Contents:
- Price for Spices; Mixtures of 2 or More Products of the Same Heading in Vietnam (FOB) - 2022
- Price for Spices; Mixtures of 2 or More Products of the Same Heading in Vietnam (CIF) - 2022
- Exports of Spices; Mixtures of 2 or More Products of the Same Heading in Vietnam
- Imports of Spices; Mixtures of 2 or More Products of the Same Heading in Vietnam
Price for Spices; Mixtures of 2 or More Products of the Same Heading in Vietnam (FOB) - 2022
The average export price for spices; mixtures of 2 or more products of the same heading stood at $4,357 per ton in 2022, reducing by -9.8% against the previous year. Overall, export price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 an increase of 34% against the previous year. As a result, the export price attained the peak level of $5,012 per ton. From 2018 to 2022, the average export prices failed to regain momentum.
Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to France ($4,371 per ton) and the Netherlands ($4,366 per ton), while the average price for exports to Germany ($4,348 per ton) and Australia ($4,355 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+4.9%), 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 Vietnam (CIF) - 2022
In 2022, the average import price for spices; mixtures of 2 or more products of the same heading amounted to $4,691 per ton, approximately equating the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 24% against the previous year. Over the period under review, average import prices reached the maximum at $4,992 per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Lao People's Democratic Republic ($4,688 per ton) and India ($4,688 per ton), while the price for China ($4,688 per ton) and Morocco ($4,688 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+8.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Spices; Mixtures of 2 or More Products of the Same Heading in Vietnam
For the fourth consecutive year, Vietnam recorded growth in overseas shipments of spices; mixtures of 2 or more products of the same heading, which increased by 25% to 1.7K tons in 2022. In general, total exports indicated buoyant growth from 2019 to 2022: its volume increased at an average annual rate of +17.7% 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 +63.0% against 2019 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, exports of spices; mixtures of 2 or more products of the same heading stood at $7.5M in 2022. Overall, total exports indicated buoyant growth from 2019 to 2022: its value increased at an average annual rate of +17.7% 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 +63.1% against 2019 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 31%. Over the period under review, the exports of spices; mixtures of 2 or more products of same heading attained the maximum in 2022 and are expected to retain growth in the immediate term.
| Export of Spices; Mixtures of 2 or More Products of the Same Heading in Vietnam (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 1,245 | 1,320 | 1,571 | 2,321 | 23.1% |
| Pakistan | 187 | 219 | 690 | 784 | 61.2% |
| Canada | 433 | 451 | 458 | 631 | 13.4% |
| Netherlands | 181 | 263 | 508 | 612 | 50.1% |
| Australia | 445 | 390 | 603 | 603 | 10.7% |
| China | 10.4 | 2.6 | 148 | 525 | 269.6% |
| Japan | 77.9 | 237 | 484 | 302 | 57.1% |
| Germany | 216 | 195 | 231 | 233 | 2.6% |
| Hong Kong SAR | 252 | 195 | 361 | 229 | -3.1% |
| Taiwan (Chinese) | 348 | 158 | 165 | 228 | -13.1% |
| France | 131 | 162 | 205 | 221 | 19.0% |
| New Zealand | 126 | 98.5 | 145 | 161 | 8.5% |
| United Kingdom | 288 | 180 | 308 | 154 | -18.8% |
| Others | 663 | 1,209 | 763 | 501 | -8.9% |
| Total | 4,602 | 5,081 | 6,641 | 7,504 | 17.7% |
Top Export Markets for Spices; Mixtures of 2 or More Products of the Same Heading from Vietnam in 2022:
- United States (532.8 tons)
- Pakistan (179.8 tons)
- Canada (144.8 tons)
- Netherlands (140.2 tons)
- Australia (138.4 tons)
- China (120.4 tons)
- Japan (69.4 tons)
- Germany (53.6 tons)
- Hong Kong SAR (52.6 tons)
- Taiwan (Chinese) (52.3 tons)
- France (50.6 tons)
- New Zealand (36.9 tons)
- United Kingdom (35.3 tons)
Imports of Spices; Mixtures of 2 or More Products of the Same Heading in Vietnam
In 2022, approx. 411 tons of spices; mixtures of 2 or more products of the same heading were imported into Vietnam; growing by 244% compared with the year before. Over the period under review, imports enjoyed a significant expansion. As a result, imports reached 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 $1.9M in 2022. Overall, imports showed a significant expansion. 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 Vietnam (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 151 | 132 | 205 | 1,085 | 93.0% |
| China | 88.4 | 558 | 118 | 226 | 36.7% |
| Turkey | 96.7 | 83.4 | 37.2 | 169 | 20.5% |
| Morocco | N/A | 3.6 | 38.0 | 59.8 | 307.6% |
| Lao People's Democratic Republic | N/A | N/A | N/A | 58.6 | 0% |
| United States | 11.8 | 2.4 | 13.8 | 56.8 | 68.8% |
| Malaysia | 3.1 | 30.6 | 40.5 | 54.9 | 160.7% |
| Germany | 84.6 | 46.8 | 26.8 | 53.4 | -14.2% |
| Egypt | N/A | 8.3 | 9.7 | 34.3 | 103.3% |
| Australia | 25.8 | 39.7 | 17.1 | 25.4 | -0.5% |
| Japan | 62.3 | 14.2 | 29.1 | 22.8 | -28.5% |
| Others | 11.2 | 18.1 | 33.5 | 82.4 | 94.5% |
| Total | 534 | 936 | 568 | 1,929 | 53.4% |
Top Suppliers of Spices; Mixtures of 2 or More Products of the Same Heading to Vietnam in 2022:
- India (231.5 tons)
- China (48.2 tons)
- Turkey (36.1 tons)
- Morocco (12.7 tons)
- Lao People's Democratic Republic (12.5 tons)
- United States (12.1 tons)
- Malaysia (11.7 tons)
- Germany (11.4 tons)
- Egypt (7.3 tons)
- Australia (5.4 tons)
- Japan (4.9 tons)
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