Price for Spices; Vanilla, Crushed or Ground in Lithuania - 2023

Contents:

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

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

The average import price for spices; vanilla, crushed or ground stood at $28,735 per ton in 2022, reducing by -16.3% against the previous year. Overall, the import price, however, saw a measured expansion. The growth pace was the most rapid in 2016 when the average import price increased by 245%. As a result, import price attained the peak level of $61,541 per ton. From 2017 to 2022, the average import prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($37,179 per ton), while the price for Austria amounted to $28,487 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+27.7%), while the prices for the other major suppliers experienced more modest paces of growth.

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

In 2022, the average export price for spices; vanilla, crushed or ground amounted to $28,454 per ton, picking up by 6.6% against the previous year. In general, the export price showed a prominent increase. The pace of growth was the most pronounced in 2016 when the average export price increased by 488% against the previous year. As a result, the export price reached the peak level of $96,233 per ton. From 2017 to 2022, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Latvia ($30,288 per ton), while the average price for exports to Russia ($25,635 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 Estonia (+15.3%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Spices; Vanilla, Crushed or Ground in Lithuania

In 2022, spices; vanilla, crushed or ground imports into Lithuania soared to 1.4 tons, growing by 26% compared with 2021 figures. In general, total imports indicated a strong expansion from 2019 to 2022: its volume increased at an average annual rate of +19.1% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +68.8% against 2019 indices. The pace of growth was the most pronounced in 2020 with an increase of 49%. Over the period under review, imports attained the peak figure in 2022 and are likely to see gradual growth in the near future.

In value terms, spices; vanilla, crushed or ground imports expanded markedly to $39K in 2022. Overall, imports enjoyed a significant increase. The growth pace was the most rapid in 2020 with an increase of 83%. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in years to come.

Import of Spices; Vanilla, Crushed or Ground in Lithuania (Thousand USD)
COUNTRY2019202020212022CAGR,
2019-2022
Austria12.525.336.137.644.4%
GermanyN/AN/AN/A1.00%
Others1.80.80.90.4-39.4%
Total14.326.137.039.039.7%

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

  1. Austria (1319.0 kg)
  2. Germany (28.0 kg)

Exports of Spices; Vanilla, Crushed or Ground in Lithuania

For the fourth year in a row, Lithuania recorded growth in shipments abroad of spices; vanilla, crushed or ground, which increased by 22% to 315 kg in 2022. Overall, total exports indicated a significant increase from 2019 to 2022: its volume increased at an average annual rate of +21.9% 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 +81.0% against 2019 indices. The pace of growth appeared the most rapid in 2020 when exports increased by 35% against the previous year. The exports peaked in 2022 and are likely to continue growth in the near future.

In value terms, spices; vanilla, crushed or ground exports soared to $9K in 2022. In general, exports showed significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 45%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the near future.

Export of Spices; Vanilla, Crushed or Ground in Lithuania (Thousand USD)
COUNTRY2019202020212022CAGR,
2019-2022
Estonia1.94.34.95.340.8%
Latvia0.51.02.02.058.7%
RussiaN/AN/AN/A1.60%
Germany1.2N/AN/AN/A0%
OthersN/AN/AN/AN/A0%
Total3.65.36.99.035.7%

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

  1. Estonia (186.0 kg)
  2. Latvia (66.0 kg)
  3. Russia (63.0 kg)

Source: IndexBox Market Intelligence Platform

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