Spices; Mixtures Price in Turkey - 2023
Contents:
- Spices; Mixtures Price in Turkey (FOB) - 2023
- Spices; Mixtures Price in Turkey (CIF) - 2023
- Spices; Mixtures Exports in Turkey
- Spices; Mixtures Imports in Turkey
Spices; Mixtures Price in Turkey (FOB) - 2023
In July 2023, the average spices; mixtures export price amounted to $5,685 per ton, shrinking by -5.3% against the previous month. Over the last twelve months, it increased at an average monthly rate of +2.4%. The pace of growth was the most pronounced in December 2022 when the average export price increased by 30% against the previous month. The export price peaked at $6,002 per ton in June 2023, and then declined in the following month.
Prices varied noticeably by the country of destination: the country with the highest price was Belgium ($16,028 per ton), while the average price for exports to Australia ($3,391 per ton) was amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+4.9%), while the prices for the other major destinations experienced more modest paces of growth.
Spices; Mixtures Price in Turkey (CIF) - 2023
In July 2023, the average spices; mixtures import price amounted to $838 per ton, with a decrease of -24.4% against the previous month. In general, import price indicated a pronounced expansion from July 2022 to July 2023: its price increased at an average monthly rate of +3.0% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on July 2023 figures, spices; mixtures import price increased by +23.4% against May 2023 indices. The growth pace was the most rapid in June 2023 when the average import price increased by 63% m-o-m. The import price peaked at $1,261 per ton in December 2022; however, from January 2023 to July 2023, import prices stood at a somewhat lower figure.
Average prices varied noticeably amongst the major supplying countries. In July 2023, the country with the highest price was the Netherlands ($849 per ton), while the price for India amounted to $782 per ton.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Iran (+77.4%), while the prices for the other major suppliers experienced mixed trend patterns.
Spices; Mixtures Exports in Turkey
In 2022, the amount of spices; mixtureses exported from Turkey surged to 706 tons, with an increase of 28% on the previous year's figure. Overall, total exports indicated significant growth from 2019 to 2022: its volume increased at an average annual rate of +21.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +77.3% against 2019 indices. The pace of growth appeared the most rapid in 2020 with an increase of 45%. The exports peaked in 2022 and are expected to retain growth in years to come.
In value terms, spices; mixtures exports skyrocketed to $3.2M in 2022. Over the period under review, total exports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +17.9% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +63.8% against 2019 indices. The pace of growth appeared the most rapid in 2020 with an increase of 24%. The exports peaked in 2022 and are expected to retain growth in the near future.
| Export of Spices; Mixtures in Turkey (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 185 | 286 | 350 | 555 | 44.2% |
| Belgium | 444 | 514 | 747 | 428 | -1.2% |
| United Kingdom | 27.7 | 75.7 | 222 | 290 | 118.8% |
| United States | 325 | 248 | 108 | 271 | -5.9% |
| Netherlands | 205 | 284 | 257 | 236 | 4.8% |
| Turkmenistan | 1.7 | N/A | 71.3 | 136 | 330.9% |
| Australia | 199 | 269 | 49.4 | 123 | -14.8% |
| Libya | 36.9 | 7.2 | 86.8 | 107 | 42.6% |
| Iraq | 13.9 | 23.4 | 29.9 | 106 | 96.8% |
| United Arab Emirates | 23.1 | 19.0 | 23.7 | 84.2 | 53.9% |
| France | 34.5 | 43.9 | 49.8 | 81.9 | 33.4% |
| Switzerland | 7.7 | 58.8 | 49.2 | 72.8 | 111.5% |
| Cyprus | 15.1 | 19.6 | 21.6 | 40.4 | 38.8% |
| Others | 405 | 546 | 495 | 621 | 15.3% |
| Total | 1,925 | 2,396 | 2,560 | 3,153 | 17.9% |
Top Export Markets for Spices; Mixtures from Turkey in 2022:
- Germany (146.3 tons)
- Netherlands (76.7 tons)
- United Kingdom (52.9 tons)
- Belgium (40.7 tons)
- United States (37.8 tons)
- Libya (32.5 tons)
- Australia (30.6 tons)
- France (29.4 tons)
- United Arab Emirates (28.6 tons)
- Iraq (28.5 tons)
- Turkmenistan (24.1 tons)
- Switzerland (15.5 tons)
- Cyprus (14.6 tons)
Spices; Mixtures Imports in Turkey
In 2022, spices; mixtures imports into Turkey expanded significantly to 748 tons, with an increase of 7.9% on the year before. The total import volume increased at an average annual rate of +7.5% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 20%. Imports peaked in 2022 and are likely to see steady growth in the immediate term.
In value terms, spices; mixtures imports amounted to $647K in 2022. In general, imports saw a relatively flat trend pattern.
| Import of Spices; Mixtures in Turkey (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 424 | 608 | 485 | 503 | 5.9% |
| Iran | N/A | N/A | 2.1 | 32.1 | 1428.6% |
| Others | 220 | 69.9 | 88.3 | 112 | -20.2% |
| Total | 644 | 678 | 575 | 647 | 0.2% |
Top Suppliers of Spices; Mixtures to Turkey in 2022:
- India (643.7 tons)
- Iran (76.6 tons)
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