Brazil: Spice Market 2024

Spice Market Size in Brazil

In 2022, the Brazilian spice market was finally on the rise to reach $X for the first time since 2018, thus ending a three-year declining trend. Over the period under review, consumption, however, saw a relatively flat trend pattern. Spice consumption peaked at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Spice Production in Brazil

In value terms, spice production reached $X in 2022 estimated in export price. In general, production saw a slight decrease. The pace of growth appeared the most rapid in 2014 when the production volume increased by X% against the previous year. Spice production peaked at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

In 2022, the average spice yield in Brazil contracted to X tons per ha, standing approx. at the previous year's figure. In general, the yield continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, the average spice yield attained the maximum level at X tons per ha in 2013; however, from 2014 to 2022, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of spices were harvested in Brazil; remaining constant against the previous year's figure. Overall, the harvested area, however, continues to indicate a prominent increase. The pace of growth was the most pronounced in 2018 with an increase of X%. The spice harvested area peaked at X ha in 2021, and then declined modestly in the following year.

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Spice Exports

Exports from Brazil

In 2022, overseas shipments of spices decreased by X% to X tons for the first time since 2016, thus ending a five-year rising trend. Over the period under review, exports, however, enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2017 with an increase of X%. The exports peaked at X tons in 2021, and then shrank in the following year.

In value terms, spice exports dropped to $X in 2022. In general, total exports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2019 indices. The pace of growth was the most pronounced in 2014 when exports increased by X%. Over the period under review, the exports attained the maximum at $X in 2021, and then declined modestly in the following year.

Exports by Country

The Netherlands (X tons), Vietnam (X tons) and the United States (X tons) were the main destinations of spice exports from Brazil, with a combined X% share of total exports. The United Arab Emirates, Germany, Egypt, Morocco, India, Pakistan, Argentina, Senegal, Mexico and Turkey lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Morocco (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X) emerged as the key foreign market for spices exports from Brazil, comprising X% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total exports. It was followed by Germany, with an X% share.

From 2012 to 2022, the average annual growth rate of value to Vietnam totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Germany (X% per year).

Export Prices by Country

In 2022, the average spice export price amounted to $X per ton, increasing by X% against the previous year. Overall, the export price, however, recorded a deep setback. The most prominent rate of growth was recorded in 2021 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Morocco ($X per ton), while the average price for exports to the Netherlands ($X 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 Germany (X%), while the prices for the other major destinations experienced a decline.

Spice Imports

Imports into Brazil

In 2022, approx. X tons of spices were imported into Brazil; picking up by X% against the year before. Over the period under review, total imports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by X% against 2020 indices. The growth pace was the most rapid in 2020 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, spice imports skyrocketed to $X in 2022. In general, total imports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2019 indices. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to see steady growth in years to come.

Imports by Country

In 2022, India (X tons) constituted the largest spice supplier to Brazil, accounting for a X% share of total imports. Moreover, spice imports from India exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. Vietnam (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from India stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Vietnam (X% per year).

In value terms, India ($X) constituted the largest supplier of spices to Brazil, comprising X% of total imports. The second position in the ranking was taken by China ($X), with a X% share of total imports. It was followed by Vietnam, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from India amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Vietnam (X% per year).

Import Prices by Country

In 2022, the average spice import price amounted to $X per ton, rising by X% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($X per ton), while the price for Argentina ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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