Chile: Spice Market 2024

Spice Market Size in Chile

In 2022, after two years of growth, there was significant decline in the Chilean spice market, when its value decreased by X% to $X. Overall, consumption, however, recorded a buoyant increase. Spice consumption peaked at $X in 2021, and then shrank in the following year.

Spice Production in Chile

In value terms, spice production totaled $X in 2022 estimated in export price. Over the period under review, production saw a dramatic setback. The most prominent rate of growth was recorded in 2016 when the production volume decreased by X% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

The average yield of spices in Chile was estimated at less than X kg per ha in 2022, therefore, remained relatively stable against 2021. Overall, the yield recorded a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of spices production in Chile amounted to less than X ha, flattening at 2021. Over the period under review, the harvested area continues to indicate a relatively flat trend pattern.

Spice Exports

Exports from Chile

Spice exports from Chile declined remarkably to X tons in 2022, with a decrease of X% compared with 2021 figures. In general, exports saw a deep reduction. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, spice exports fell to $X in 2022. Over the period under review, exports showed a abrupt setback. The most prominent rate of growth was recorded in 2015 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Argentina (X tons) was the main destination for spice exports from Chile, accounting for a X% share of total exports. Moreover, spice exports to Argentina exceeded the volume sent to the second major destination, the United States (X tons), fivefold. Japan (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Argentina amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Japan (X% per year).

In value terms, Argentina ($X) remains the key foreign market for spices exports from Chile, comprising X% of total exports. The second position in the ranking was taken by the United States ($X), with a X% share of total exports. It was followed by Japan, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Argentina was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Japan (X% per year).

Export Prices by Country

The average spice export price stood at $X per ton in 2022, jumping by X% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. Over the period under review, the average export prices attained the maximum at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Uruguay ($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 the Netherlands (X%), while the prices for the other major destinations experienced more modest paces of growth.

Spice Imports

Imports into Chile

In 2022, after two years of growth, there was significant decline in overseas purchases of spices, when their volume decreased by X% to X tons. Overall, imports, however, recorded a resilient expansion. The pace of growth appeared the most rapid in 2015 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then declined in the following year.

In value terms, spice imports declined to $X in 2022. Over the period under review, total imports indicated a remarkable 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 most prominent rate of growth was recorded in 2020 with an increase of X%. Over the period under review, imports hit record highs at $X in 2021, and then contracted slightly in the following year.

Imports by Country

Peru (X tons), China (X tons) and India (X tons) were the main suppliers of spice imports to Chile, together accounting for X% of total imports. Sri Lanka, Brazil, Argentina and Spain lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Sri Lanka ($X), India ($X) and China ($X) appeared to be the largest spice suppliers to Chile, with a combined X% share of total imports.

Among the main suppliers, China, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average spice import price amounted to $X per ton, with an increase of X% against the previous year. Overall, the import price, however, recorded a noticeable shrinkage. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Sri Lanka ($X per ton), while the price for Peru ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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