Price for Spices; Vanilla, Not Crushed or Ground in Hong Kong SAR - 2023
Contents:
- Price for Spices; Vanilla, Not Crushed or Ground in Hong Kong SAR (CIF) - 2022
- Price for Spices; Vanilla, Not Crushed or Ground in Hong Kong SAR (FOB) - 2022
- Imports of Spices; Vanilla, Not Crushed or Ground in Hong Kong SAR
- Exports of Spices; Vanilla, Not Crushed or Ground in Hong Kong SAR
Price for Spices; Vanilla, Not Crushed or Ground in Hong Kong SAR (CIF) - 2022
In 2022, the average import price for vanilla amounted to $103,263 per ton, picking up by 14% against the previous year. Over the period under review, the import price saw prominent growth. The pace of growth appeared the most rapid in 2017 an increase of 129% against the previous year. The import price peaked at $206,680 per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.
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 the Netherlands ($264,000 per ton), while the price for Papua New Guinea ($67,195 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Papua New Guinea (+22.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Spices; Vanilla, Not Crushed or Ground in Hong Kong SAR (FOB) - 2022
In 2022, the average export price for vanilla amounted to $176,915 per ton, with an increase of 122% against the previous year. Overall, the export price recorded a resilient expansion. Over the period under review, the average export prices hit record highs at $292,502 per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Macao SAR ($201,280 per ton), while the average price for exports to China totaled $82,443 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+9.2%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Spices; Vanilla, Not Crushed or Ground in Hong Kong SAR
In 2022, imports of vanilla into Hong Kong SAR dropped sharply to 3 tons, with a decrease of -31.1% against 2021. In general, imports, however, continue to indicate buoyant growth. The pace of growth appeared the most rapid in 2021 when imports increased by 131%. As a result, imports reached the peak of 4.4 tons, and then contracted notably in the following year.
In value terms, imports of vanilla reduced dramatically to $313K in 2022. Overall, imports showed a abrupt downturn. The pace of growth appeared the most rapid in 2021 with an increase of 44% against the previous year.
| Import of Spices; Vanilla, Not Crushed or Ground in Hong Kong SAR (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| France | 337 | 182 | 133 | 137 | -25.9% |
| Indonesia | 1.6 | 4.0 | 7.9 | 63.9 | 241.8% |
| Netherlands | 46.3 | 49.6 | 30.6 | 43.0 | -2.4% |
| Japan | N/A | N/A | 19.9 | 25.2 | 26.6% |
| Papua New Guinea | 3.1 | N/A | 98.2 | 11.0 | 52.5% |
| China | N/A | N/A | 3.0 | 9.6 | 220.0% |
| Singapore | N/A | 2.5 | N/A | 4.1 | 28.1% |
| Madagascar | 47.4 | N/A | 77.4 | N/A | 27.8% |
| Others | 34.5 | 37.0 | 27.8 | 19.2 | -17.7% |
| Total | 470 | 275 | 397 | 313 | -12.7% |
Top Suppliers of Spices; Vanilla, Not Crushed or Ground to Hong Kong SAR in 2022:
- France (1851.0 kg)
- Indonesia (450.0 kg)
- Japan (216.0 kg)
- Papua New Guinea (164.0 kg)
- Netherlands (163.0 kg)
- China (63.0 kg)
- Singapore (54.0 kg)
Exports of Spices; Vanilla, Not Crushed or Ground in Hong Kong SAR
In 2022, approx. 517 kg of vanilla were exported from Hong Kong SAR; which is down by -72.1% compared with the previous year. Overall, exports saw a dramatic descent. The most prominent rate of growth was recorded in 2021 when exports increased by 837%. As a result, the exports attained the peak of 1.9 tons, and then reduced notably in the following year.
In value terms, exports of vanilla declined sharply to $91K in 2022. Over the period under review, exports saw a sharp curtailment. The pace of growth appeared the most rapid in 2021 when exports increased by 161%.
| Export of Spices; Vanilla, Not Crushed or Ground in Hong Kong SAR (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Macao SAR | 72.8 | 56.7 | 32.1 | 82.7 | 4.3% |
| China | 123 | N/A | 116 | 8.7 | -58.6% |
| United States | 14.7 | N/A | N/A | N/A | 0% |
| Taiwan (Chinese) | 31.0 | N/A | N/A | N/A | 0% |
| Others | 3.0 | N/A | N/A | N/A | 0% |
| Total | 245 | 56.7 | 148 | 91.5 | -28.0% |
Top Export Markets for Spices; Vanilla, Not Crushed or Ground from Hong Kong SAR in 2022:
- Macao SAR (411.0 kg)
- China (106.0 kg)
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This report provides an in-depth analysis of the vanilla market in Hong Kong SAR, China.
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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 Hong Kong SAR, China.
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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
