Spices; Mixtures Price in Italy - 2023
Contents:
- Spices; Mixtures Price in Italy (CIF) - 2023
- Spices; Mixtures Price in Italy (FOB) - 2023
- Spices; Mixtures Imports in Italy
- Spices; Mixtures Exports in Italy
Spices; Mixtures Price in Italy (CIF) - 2023
The average spices; mixtures import price stood at $7,788 per ton in June 2023, picking up by 12% against the previous month. Over the last twelve-month period, it increased at an average monthly rate of +2.1%. The growth pace was the most rapid in May 2023 an increase of 37% m-o-m. The import price peaked in June 2023.
Prices varied noticeably by the country of origin: the country with the highest price was France ($9,712 per ton), while the price for Spain ($4,175 per ton) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by India (+4.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Spices; Mixtures Price in Italy (FOB) - 2023
In June 2023, the average spices; mixtures export price amounted to $11,009 per ton, dropping by -22.1% against the previous month. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in January 2023 when the average export price increased by 22% m-o-m. Over the period under review, the average export prices hit record highs at $14,129 per ton in May 2023, and then fell notably in the following month.
There were significant differences in the average prices for the major export markets. In June 2023, the country with the highest price was the Netherlands ($21,787 per ton), while the average price for exports to Latvia ($1,667 per ton) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to France (+5.5%), while the prices for the other major destinations experienced more modest paces of growth.
Spices; Mixtures Imports in Italy
In 2022, approx. 1K tons of spices; mixtureses were imported into Italy; rising by 6.6% against the previous year. In general, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 56%. As a result, imports attained the peak of 1.6K tons. From 2021 to 2022, the growth of imports failed to regain momentum.
In value terms, spices; mixtures imports reached $6M in 2022. Over the period under review, total imports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +5.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -27.6% against 2020 indices. The growth pace was the most rapid in 2020 when imports increased by 62%. As a result, imports attained the peak of $8.3M. From 2021 to 2022, the growth of imports remained at a lower figure.
| Import of Spices; Mixtures in Italy (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 2,285 | 3,142 | 2,508 | 2,897 | 8.2% |
| Netherlands | 292 | 854 | 724 | 796 | 39.7% |
| Austria | 850 | 1,022 | 885 | 683 | -7.0% |
| India | 43.2 | 48.0 | 135 | 342 | 99.3% |
| Spain | 95.5 | 526 | 210 | 261 | 39.8% |
| France | 103 | 681 | 429 | 224 | 29.6% |
| Pakistan | 302 | 329 | 442 | 202 | -12.5% |
| United Kingdom | 863 | 808 | 44.8 | 84.5 | -53.9% |
| Others | 268 | 877 | 485 | 508 | 23.8% |
| Total | 5,101 | 8,286 | 5,864 | 5,998 | 5.5% |
Top Suppliers of Spices; Mixtures to Italy in 2022:
- Germany (477.7 tons)
- Austria (179.5 tons)
- Netherlands (127.9 tons)
- India (54.6 tons)
- France (34.0 tons)
- Spain (31.0 tons)
- United Kingdom (26.0 tons)
- Pakistan (25.2 tons)
Spices; Mixtures Exports in Italy
For the fourth year in a row, Italy recorded growth in shipments abroad of spices; mixtureses, which increased by 0.4% to 354 tons in 2022. The total export volume increased at an average annual rate of +12.0% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when exports increased by 22% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.
In value terms, spices; mixtures exports fell to $4.5M in 2022. The total export value increased at an average annual rate of +1.4% from 2019 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when exports increased by 12%.
| Export of Spices; Mixtures in Italy (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 986 | 1,125 | 1,128 | 883 | -3.6% |
| United States | 690 | 809 | 887 | 787 | 4.5% |
| Australia | 427 | 532 | 342 | 389 | -3.1% |
| Germany | 403 | 258 | 458 | 363 | -3.4% |
| France | 132 | 181 | 283 | 214 | 17.5% |
| Malta | 43.4 | 50.1 | 89.2 | 163 | 55.4% |
| Austria | 240 | 106 | 201 | 145 | -15.5% |
| United Kingdom | 352 | 337 | 73.9 | 132 | -27.9% |
| Ireland | 36.3 | 49.8 | 132 | 125 | 51.0% |
| Portugal | 6.5 | 4.0 | 17.6 | 82.1 | 132.9% |
| Greece | 10.2 | 27.0 | 38.9 | 78.9 | 97.8% |
| Poland | 5.0 | 0.5 | 19.0 | 52.9 | 119.5% |
| Latvia | 25.9 | 39.4 | 75.5 | 46.9 | 21.9% |
| Others | 933 | 1,285 | 1,492 | 1,007 | 2.6% |
| Total | 4,290 | 4,803 | 5,237 | 4,470 | 1.4% |
Top Export Markets for Spices; Mixtures from Italy in 2022:
- United States (47.5 tons)
- Netherlands (35.7 tons)
- Germany (30.1 tons)
- France (28.6 tons)
- Malta (24.8 tons)
- Latvia (23.7 tons)
- Austria (16.1 tons)
- Australia (14.9 tons)
- United Kingdom (9.7 tons)
- Greece (9.6 tons)
- Ireland (9.4 tons)
- Portugal (9.0 tons)
- Poland (9.0 tons)
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