Price for Spices; Vanilla, Crushed or Ground in Latvia - 2023
Contents:
- Price for Spices; Vanilla, Crushed or Ground in Latvia (CIF) - 2022
- Price for Spices; Vanilla, Crushed or Ground in Latvia (FOB) - 2022
- Imports of Spices; Vanilla, Crushed or Ground in Latvia
- Exports of Spices; Vanilla, Crushed or Ground in Latvia
Price for Spices; Vanilla, Crushed or Ground in Latvia (CIF) - 2022
In 2022, the average import price for spices; vanilla, crushed or ground amounted to $119,109 per ton, falling by -27.3% against the previous year. Over the period under review, the import price, however, continues to indicate a resilient increase. The pace of growth was the most pronounced in 2017 when the average import price increased by 159% against the previous year. The import price peaked at $163,885 per ton in 2021, and then declined rapidly in the following year.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($168,252 per ton), while the price for Spain ($20,781 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+23.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Spices; Vanilla, Crushed or Ground in Latvia (FOB) - 2022
In 2022, the average export price for spices; vanilla, crushed or ground amounted to $84,083 per ton, almost unchanged from the previous year. In general, the export price, however, continues to indicate a perceptible descent. The pace of growth appeared the most rapid in 2017 when the average export price increased by 32% against the previous year. The export price peaked at $123,579 per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Lithuania ($111,606 per ton), while the average price for exports to the UK ($4,125 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 Lithuania (+0.8%).
Imports of Spices; Vanilla, Crushed or Ground in Latvia
In 2022, approx. 4.8 tons of spices; vanilla, crushed or ground were imported into Latvia; rising by 82% on the year before. Overall, imports enjoyed significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, spices; vanilla, crushed or ground imports skyrocketed to $578K in 2022. In general, imports posted a significant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 38%. Imports peaked in 2022 and are expected to retain growth in the near future.
| Import of Spices; Vanilla, Crushed or Ground in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 23.7 | 68.9 | 164 | 287 | 129.6% |
| France | 219 | 221 | 257 | 255 | 5.2% |
| Spain | N/A | N/A | N/A | 23.4 | 0% |
| Lithuania | N/A | 2.7 | 0.4 | 2.8 | 1.8% |
| Others | 23.0 | 22.8 | 15.3 | 8.8 | -27.4% |
| Total | 266 | 316 | 437 | 578 | 29.5% |
Top Suppliers of Spices; Vanilla, Crushed or Ground to Latvia in 2022:
- Indonesia (2000.0 kg)
- France (1518.0 kg)
- Spain (1128.0 kg)
- Lithuania (129.0 kg)
Exports of Spices; Vanilla, Crushed or Ground in Latvia
In 2022, approx. 96 kg of spices; vanilla, crushed or ground were exported from Latvia; increasing by 75% on 2021 figures. In general, exports showed significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, spices; vanilla, crushed or ground exports soared to $8.1K in 2022. Over the period under review, exports recorded a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Spices; Vanilla, Crushed or Ground in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2021 | 2022 | CAGR, 2021-2022 | ||
| Lithuania | N/A | 7.9 | 0% | ||
| United Kingdom | N/A | 0.1 | 0% | ||
| Germany | 0.8 | N/A | 0% | ||
| Estonia | 2.5 | N/A | 0% | ||
| Netherlands | 1.0 | N/A | 0% | ||
| Others | 0.3 | N/A | 0% | ||
| Total | 4.6 | 8.1 | 76.1% | ||
Top Export Markets for Spices; Vanilla, Crushed or Ground from Latvia in 2022:
- Lithuania (71.0 kg)
- United Kingdom (24.0 kg)
- Estonia (1.0 kg)
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This report provides an in-depth analysis of the vanilla market in Latvia.
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This report provides an in-depth analysis of the global vanilla market.
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This report provides an in-depth analysis of the vanilla market in Latvia.
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This report provides an in-depth analysis of the global vanilla market.
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In 2016, the vanilla market dropped to X tons, caused by the reduction of global vanilla production due to harvest cuts in Madagascar and Indonesia. At the same time, demand for vanilla continues to grow against the backdrop of growing demand from
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Global vanilla consumption amounted to X thousand tons in 2015, stabilizing at the previous year level.
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In 2015, global consumption of vanilla amounted to X tons, standing approx. at the 2014 level. One year before there was a fall by X% caused by the reduction of vanilla production in Indonesia; from 2007 to 2013, va
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The value of total imports on the global vanilla 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 vanilla reached X tons i
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From 2007 to 2015, global exports of vanilla grew by +X% per year, amounting to X million USD in 2015. In physical terms, exports on the global vanilla market reached X tons in 2015, which was X tons (or X%) more than the year before.
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The global production of vanilla was estimated at X tons in 2015, an increase of X tons against the figure for 2013, and X tons (or X%) less than the peak production level recorded in 2011.
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From 2007 to 2015, global vanilla market consumption decreased by -X% annually. The highest annual rates of growth in terms of vanilla consumption between 2007 and 2015 were registered in India, with a +X% growth, due to the increased number of va
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Although widely considered a standard commodity, vanilla requires highly labor-intensive methods of cultivation that make it the second most expensive spice in the world, surpassed only by saffron.
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France dominates in the global vanilla trade. In 2014, France exported X thousand tons of vanilla totaling X million USD, X% over the previous year. Its primary trading partner was Germany, where it supplied X% of its total vanilla exports in val
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In 2016, the vanilla market dropped to X tons, caused by the reduction of global vanilla production due to harvest cuts in Madagascar and Indonesia. At the same time, demand for vanilla continues to grow against the backdrop of growing demand from
