Price for Spices; Vanilla, Crushed or Ground in Ecuador - 2022

Contents:

1. Price for Spices; Vanilla, Crushed or Ground in Ecuador (FOB) - 2022
2. Price for Spices; Vanilla, Crushed or Ground in Ecuador (CIF) - 2022
3. Exports of Spices; Vanilla, Crushed or Ground in Ecuador
4. Imports of Spices; Vanilla, Crushed or Ground in Ecuador

Price for Spices; Vanilla, Crushed or Ground in Ecuador (FOB) - 2022

In 2022, the average export price for spices; vanilla, crushed or ground amounted to $25,538 per ton, declining by -11% against the previous year. Over the period under review, the export price, however, saw a prominent increase. The most prominent rate of growth was recorded in 2015 an increase of 92%. The export price peaked at $40,541 per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($43,778 per ton), while the average price for exports to France ($2,000 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 (+45.9%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Spices; Vanilla, Crushed or Ground in Ecuador (CIF) - 2022

The average import price for spices; vanilla, crushed or ground stood at $13,368 per ton in 2022, remaining constant against the previous year. Over the period under review, the import price saw a buoyant expansion. The most prominent rate of growth was recorded in 2020 a decrease of -11.5%. The import price peaked in 2022 and is likely to see steady growth in years to come.

As there is only one major supplying country, the average price level is determined by prices for the United States.

From 2014 to 2022, the rate of growth in terms of prices for the United States amounted to -8.9% per year.

Exports of Spices; Vanilla, Crushed or Ground in Ecuador

In 2022, the amount of spices; vanilla, crushed or ground exported from Ecuador contracted rapidly to 78 kg, reducing by -25% on the previous year's figure. Over the period under review, exports, however, enjoyed a significant increase. The pace of growth appeared the most rapid in 2021 when exports increased by 271%. As a result, the exports reached the peak of 104 kg, and then fell remarkably in the following year.

In value terms, spices; vanilla, crushed or ground exports dropped markedly to $2K in 2022. Overall, exports, however, showed a resilient increase. The pace of growth was the most pronounced in 2021 when exports increased by 198%. As a result, the exports reached the peak of $3K, and then declined remarkably in the following year.

Top Export Markets for Spices; Vanilla, Crushed or Ground from Ecuador in 2022:

1. United States (52.0 kg)
2. Germany (9.0 kg)
3. Brazil (5.0 kg)
4. Netherlands (1.0 kg)
5. France (1.0 kg)

Imports of Spices; Vanilla, Crushed or Ground in Ecuador

In 2022, the amount of spices; vanilla, crushed or ground imported into Ecuador totaled 155 kg, almost unchanged from the previous year. Overall, imports continue to indicate a abrupt descent. The smallest decline of -53.1% was in 2020.

In value terms, spices; vanilla, crushed or ground imports stood at $2.1K in 2022. Over the period under review, imports posted a modest increase. The smallest decline of -58.4% was in 2020. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Top Suppliers of Spices; Vanilla, Crushed or Ground to Ecuador in 2022:

1. United States (155.0 kg)

Source: IndexBox Market Intelligence Platform