Spices; Mixtures Price in Pakistan - 2023
Contents:
- Spices; Mixtures Price in Pakistan (FOB) - 2023
- Spices; Mixtures Price in Pakistan (CIF) - 2023
- Spices; Mixtures Exports in Pakistan
- Spices; Mixtures Imports in Pakistan
Spices; Mixtures Price in Pakistan (FOB) - 2023
The average spices; mixtures export price stood at $7,275 per ton in February 2023, jumping by 18% against the previous month. Overall, the export price showed a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.
Average prices varied somewhat for the major overseas markets. In February 2023, the countries with the highest prices were Germany ($8,744 per ton) and Saudi Arabia ($7,526 per ton), while the average price for exports to Oman ($5,990 per ton) and Bangladesh ($6,666 per ton) were amongst the lowest.
From February 2022 to February 2023, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+3.8%), while the prices for the other major destinations experienced more modest paces of growth.
Spices; Mixtures Price in Pakistan (CIF) - 2023
In January 2023, the average spices; mixtures import price amounted to $4,727 per ton, falling by -25.3% against the previous month. Overall, the import price saw a pronounced contraction. The most prominent rate of growth was recorded in July 2022 when the average import price increased by 11% month-to-month. The import price peaked at $6,668 per ton in January 2022; however, from February 2022 to January 2023, import prices remained at a lower figure.
As there is only one major supplying country, the average price level is determined by prices for Thailand.
From January 2022 to January 2023, the rate of growth in terms of prices for Thailand amounted to -2.8% per month.
Spices; Mixtures Exports in Pakistan
In 2022, approx. 12K tons of spices; mixtureses were exported from Pakistan; declining by -2.7% on 2021 figures. Overall, exports recorded a slight decline. The pace of growth appeared the most rapid in 2021 when exports increased by 0.5%.
In value terms, spices; mixtures exports stood at $84M in 2022. The total export value increased at an average annual rate of +8.9% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2020 when exports increased by 12%. The exports peaked in 2022 and are likely to see steady growth in the immediate term.
| Export of Spices; Mixtures in Pakistan (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Saudi Arabia | 15.7 | 21.3 | 22.8 | 26.1 | 18.5% |
| United States | 11.3 | 12.4 | 16.8 | 21.2 | 23.3% |
| United Kingdom | 9.8 | 10.5 | 12.4 | 8.2 | -5.8% |
| United Arab Emirates | 7.6 | 5.1 | 4.2 | 6.4 | -5.6% |
| Australia | 2.5 | 3.2 | 3.3 | 4.0 | 17.0% |
| Canada | 4.6 | 5.5 | 4.8 | 2.1 | -23.0% |
| Qatar | 1.5 | 1.5 | 1.5 | 2.1 | 11.9% |
| South Sudan | 0.3 | 0.3 | 0.4 | 0.6 | 26.0% |
| Afghanistan | 0.2 | 0.4 | 0.4 | 0.5 | 35.7% |
| Others | 11.3 | 12.4 | 13.8 | 12.5 | 3.4% |
| Total | 64.9 | 72.8 | 80.6 | 83.7 | 8.8% |
Top Export Markets for Spices; Mixtures from Pakistan in 2022:
- Saudi Arabia (5.0K tons)
- United States (1.8K tons)
- United Arab Emirates (1.1K tons)
- United Kingdom (1.0K tons)
- Australia (0.6K tons)
- Qatar (0.4K tons)
- Canada (0.3K tons)
- Afghanistan (0.2K tons)
- South Sudan (0.2K tons)
Spices; Mixtures Imports in Pakistan
In 2022, approx. 512 tons of spices; mixtureses were imported into Pakistan; jumping by 22% on the previous year. The total import volume increased at an average annual rate of +4.8% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, spices; mixtures imports soared to $3.1M in 2022. In general, total imports indicated a strong expansion from 2019 to 2022: its value increased at an average annual rate of +14.2% 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 +48.9% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Spices; Mixtures in Pakistan (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Thailand | 1,873 | 1,935 | 2,033 | 2,694 | 12.9% |
| South Korea | 39.6 | 45.9 | 56.6 | 89.5 | 31.2% |
| Egypt | 32.8 | 31.2 | 66.3 | 87.8 | 38.8% |
| Saudi Arabia | 54.4 | 114 | 4.1 | 76.8 | 12.2% |
| United States | 23.0 | 26.7 | 32.9 | 52.1 | 31.3% |
| Myanmar | N/A | 19.2 | N/A | 16.4 | -7.6% |
| Others | 56.7 | 11.0 | 41.2 | 78.0 | 11.2% |
| Total | 2,079 | 2,183 | 2,234 | 3,095 | 14.2% |
Top Suppliers of Spices; Mixtures to Pakistan in 2022:
- Thailand (367.5 tons)
- Egypt (50.6 tons)
- Saudi Arabia (39.7 tons)
- Myanmar (21.8 tons)
- South Korea (14.9 tons)
- United States (10.2 tons)
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