Spices; Mixtures Price in Kuwait - 2021
Contents:
- Spices; Mixtures Price in Kuwait (CIF) - 2021
- Spices; Mixtures Price in Kuwait (FOB) - 2022
- Spices; Mixtures Imports in Kuwait
- Spices; Mixtures Exports in Kuwait
Spices; Mixtures Price in Kuwait (CIF) - 2021
In December 2021, the average spices; mixtures import price amounted to $4,001 per ton, shrinking by -20.6% against the previous month. Overall, the import price saw a mild slump. The most prominent rate of growth was recorded in February 2021 when the average import price increased by 18% m-o-m. Over the period under review, average import prices attained the maximum at $5,893 per ton in June 2021; however, from July 2021 to December 2021, import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was Germany ($22,800 per ton), while the price for Iran ($871 per ton) was amongst the lowest.
From January 2021 to December 2021, the most notable rate of growth in terms of prices was attained by Germany (+15.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Spices; Mixtures Price in Kuwait (FOB) - 2022
In 2022, the average spices; mixtures export price amounted to $8,393 per ton, surging by 7.9% against the previous year. In general, export price indicated a strong increase from 2012 to 2022: its price increased at an average annual rate of +9.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, spices; mixtures export price increased by +59.2% against 2018 indices. The growth pace was the most rapid in 2013 an increase of 78%. Over the period under review, the average export prices reached the maximum in 2022 and is likely to see gradual growth in years to come.
There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($15,156 per ton), while the average price for exports to Iraq ($1,174 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 India (+51.8%), while the prices for the other major destinations experienced more modest paces of growth.
Spices; Mixtures Imports in Kuwait
In 2022, after two years of decline, there was growth in overseas purchases of spices; mixtureses, when their volume increased by 3% to 939 tons. Overall, imports, however, saw a abrupt slump.
In value terms, spices; mixtures imports expanded modestly to $4.5M in 2022. In general, imports, however, recorded a pronounced reduction.
| Import of Spices; Mixtures in Kuwait (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 2,561 | 2,339 | 2,535 | 2,765 | 2.6% |
| Pakistan | 679 | 671 | 636 | 544 | -7.1% |
| United Arab Emirates | 91.8 | 459 | 327 | 280 | 45.0% |
| United Kingdom | 223 | 414 | 195 | 228 | 0.7% |
| Bahrain | 253 | 113 | 53.7 | 106 | -25.2% |
| United States | 258 | 34.8 | 69.5 | 96.4 | -28.0% |
| Bangladesh | 103 | 83.5 | 80.6 | 70.9 | -11.7% |
| Others | 736 | 516 | 555 | 451 | -15.1% |
| Total | 4,905 | 4,630 | 4,451 | 4,540 | -2.5% |
Top Suppliers of Spices; Mixtures to Kuwait in 2022:
- India (628.8 tons)
- Pakistan (79.3 tons)
- United Kingdom (48.9 tons)
- United Arab Emirates (41.8 tons)
- United States (19.6 tons)
- Bahrain (18.0 tons)
- Bangladesh (16.5 tons)
Spices; Mixtures Exports in Kuwait
In 2022, after three years of growth, there was significant decline in shipments abroad of spices; mixtureses, when their volume decreased by -18% to 19 tons. In general, exports, however, posted a significant expansion. The pace of growth was the most pronounced in 2020 when exports increased by 95%.
In value terms, spices; mixtures exports shrank to $156K in 2022. Over the period under review, exports, however, recorded a significant expansion. The pace of growth appeared the most rapid in 2020 with an increase of 127% against the previous year.
| Export of Spices; Mixtures in Kuwait (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Qatar | 2.6 | 59.0 | 75.3 | 62.4 | 188.4% |
| Egypt | 15.0 | 19.3 | 32.3 | 30.4 | 26.5% |
| United Arab Emirates | 8.4 | 14.3 | 27.3 | 21.6 | 37.0% |
| Saudi Arabia | 19.2 | 25.8 | 9.8 | 19.5 | 0.5% |
| United Kingdom | 2.4 | 3.3 | 7.2 | 6.8 | 41.5% |
| Jordan | 5.1 | 5.2 | 6.7 | 5.7 | 3.8% |
| Iraq | 2.0 | 2.1 | 2.8 | 2.3 | 4.8% |
| Djibouti | N/A | 0.7 | 3.3 | N/A | 371.4% |
| Others | 4.9 | 6.0 | 12.0 | 7.7 | 16.3% |
| Total | 59.7 | 136 | 177 | 156 | 37.7% |
Top Export Markets for Spices; Mixtures from Kuwait in 2022:
- Qatar (5.6 tons)
- Saudi Arabia (3.6 tons)
- Egypt (2.9 tons)
- Iraq (1.9 tons)
- United Arab Emirates (1.4 tons)
- United Kingdom (1.3 tons)
- Jordan (0.8 tons)
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