Spices; Mixtures Price in the UK - 2023
Contents:
- Spices; Mixtures Price in the UK (CIF) - 2023
- Spices; Mixtures Price in the UK (FOB) - 2023
- Spices; Mixtures Imports in the UK
- Spices; Mixtures Exports in the UK
Spices; Mixtures Price in the UK (CIF) - 2023
The average spices; mixtures import price stood at $7,203 per ton in May 2023, rising by 15% against the previous month. Over the period from May 2022 to May 2023, it increased at an average monthly rate of +2.0%. The most prominent rate of growth was recorded in November 2022 when the average import price increased by 27% month-to-month. The import price peaked in May 2023.
There were significant differences in the average prices amongst the major supplying countries. In May 2023, the country with the highest price was Germany ($14,776 per ton), while the price for India ($4,833 per ton) was amongst the lowest.
From May 2022 to May 2023, the most notable rate of growth in terms of prices was attained by China (+12.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Spices; Mixtures Price in the UK (FOB) - 2023
The average spices; mixtures export price stood at $5,621 per ton in May 2023, shrinking by -21.2% against the previous month. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in April 2023 an increase of 131% m-o-m. Over the period under review, the average export prices reached the peak figure at $7,308 per ton in February 2023; however, from March 2023 to May 2023, the export prices remained at a lower figure.
There were significant differences in the average prices for the major foreign markets. In May 2023, the country with the highest price was the United States ($23,602 per ton), while the average price for exports to Thailand ($3,579 per ton) was amongst the lowest.
From May 2022 to May 2023, the most notable rate of growth in terms of prices was recorded for supplies to Kuwait (+65.1%), while the prices for the other major destinations experienced more modest paces of growth.
Spices; Mixtures Imports in the UK
In 2022, overseas purchases of spices; mixtureses decreased by -41.5% to 5.9K tons, falling for the second year in a row after two years of growth. Over the period under review, imports recorded a significant decrease. The growth pace was the most rapid in 2020 when imports increased by 1.3%. As a result, imports reached the peak of 13K tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
In value terms, spices; mixtures imports reduced to $31M in 2022. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 9.4%. As a result, imports reached the peak of $34M, and then contracted in the following year.
| Import of Spices; Mixtures in the UK (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Pakistan | 2.8 | 3.0 | 6.4 | 7.2 | 37.0% |
| India | 7.7 | 9.8 | 9.5 | 6.5 | -5.5% |
| Germany | 1.5 | 2.5 | 2.5 | 3.0 | 26.0% |
| Spain | 2.2 | 2.4 | 2.4 | 2.9 | 9.6% |
| United Arab Emirates | N/A | N/A | N/A | 2.1 | 0% |
| Belgium | 0.2 | N/A | 0.5 | 1.1 | 76.5% |
| Sri Lanka | 1.1 | 1.2 | 0.8 | 1.0 | -3.1% |
| Netherlands | 8.8 | 6.1 | 6.1 | 0.9 | -53.2% |
| Turkey | 0.4 | 0.4 | 0.5 | 0.7 | 20.5% |
| China | 0.7 | 0.7 | 0.8 | 0.7 | 0.0% |
| Lebanon | 0.3 | 0.4 | 0.4 | 0.7 | 32.6% |
| Poland | 0.3 | 0.1 | 0.1 | 0.2 | -12.6% |
| Others | 5.6 | 4.9 | 4.3 | 4.2 | -9.1% |
| Total | 31.7 | 31.5 | 34.4 | 31.3 | -0.4% |
Top Suppliers of Spices; Mixtures to the UK in 2022:
- India (1692.8 tons)
- Pakistan (914.3 tons)
- Spain (540.1 tons)
- Netherlands (513.0 tons)
- Germany (321.1 tons)
- United Arab Emirates (302.2 tons)
- Belgium (253.8 tons)
- Sri Lanka (188.1 tons)
- Turkey (170.1 tons)
- Poland (165.2 tons)
- China (124.6 tons)
- Lebanon (99.5 tons)
Spices; Mixtures Exports in the UK
In 2022, shipments abroad of spices; mixtureses decreased by -13.3% to 1.4K tons, falling for the second consecutive year after two years of growth. Overall, exports showed a deep contraction. The pace of growth appeared the most rapid in 2020 with an increase of 13% against the previous year. As a result, the exports reached the peak of 1.9K tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
In value terms, spices; mixtures exports fell modestly to $8.9M in 2022. In general, exports continue to indicate a mild shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of 19% against the previous year. As a result, the exports attained the peak of $11M. From 2021 to 2022, the growth of the exports remained at a lower figure.
| Export of Spices; Mixtures in the UK (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Ireland | 2,498 | 2,783 | 2,184 | 2,177 | -4.5% |
| United States | 314 | 70.2 | 306 | 1,791 | 78.7% |
| Thailand | 56.8 | 56.1 | 411 | 637 | 123.8% |
| Netherlands | 796 | 1,304 | 1,035 | 619 | -8.0% |
| Germany | 744 | 804 | 432 | 415 | -17.7% |
| United Arab Emirates | 661 | 706 | 715 | 372 | -17.4% |
| Italy | 696 | 695 | 290 | 336 | -21.6% |
| Jamaica | 261 | 217 | 207 | 222 | -5.3% |
| France | 698 | 649 | 674 | 219 | -32.0% |
| Spain | 366 | 387 | 247 | 202 | -18.0% |
| Malaysia | 206 | 219 | 229 | 171 | -6.0% |
| Qatar | N/A | 26.6 | 27.7 | 92.3 | 86.3% |
| Somalia | N/A | N/A | N/A | 41.8 | 0% |
| Others | 2,021 | 3,159 | 2,425 | 1,621 | -7.1% |
| Total | 9,319 | 11,076 | 9,182 | 8,917 | -1.5% |
Top Export Markets for Spices; Mixtures from the UK in 2022:
- Ireland (328.0 tons)
- Thailand (147.4 tons)
- Netherlands (141.2 tons)
- United States (137.4 tons)
- Italy (79.5 tons)
- Germany (77.5 tons)
- France (60.5 tons)
- Malaysia (45.2 tons)
- United Arab Emirates (43.0 tons)
- Somalia (40.1 tons)
- Jamaica (27.0 tons)
- Qatar (25.7 tons)
- Spain (25.7 tons)
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