New Zealand: Spice Market 2024

Spice Market Size in New Zealand

In 2022, after two years of growth, there was significant decline in the New Zealand spice market, when its value decreased by X% to $X. Over the period under review, the total consumption indicated a notable 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, consumption increased by X% against 2019 indices. Over the period under review, the market reached the maximum level at $X in 2021, and then fell rapidly in the following year.

Spice Production in New Zealand

In value terms, spice production totaled $X in 2022 estimated in export price. Overall, production saw a significant increase. The most prominent rate of growth was recorded in 2021 with a decrease of X% against the previous year. Spice production peaked in 2022 and is likely to see steady growth in the near future.

In 2022, the average yield of spices in New Zealand totaled less than X kg per ha, stabilizing at 2021. Over the period under review, the yield saw 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 New Zealand totaled less than X ha, stabilizing at 2021 figures. Overall, the harvested area showed a relatively flat trend pattern.

Spice Exports

Exports from New Zealand

In 2022, shipments abroad of spices decreased by X% to X tons for the first time since 2017, thus ending a four-year rising trend. Overall, total exports indicated a tangible expansion 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. The pace of growth appeared the most rapid in 2016 with an increase of X%. The exports peaked at X tons in 2021, and then declined rapidly in the following year.

In value terms, spice exports contracted notably to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2016 with an increase of X%. The exports peaked at $X in 2021, and then dropped dramatically in the following year.

Exports by Country

Thailand (X tons), Australia (X tons) and Fiji (X tons) were the main destinations of spice exports from New Zealand, with a combined X% share of total exports.

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

In value terms, the largest markets for spice exported from New Zealand were the United States ($X), Australia ($X) and Fiji ($X), together accounting for X% of total exports.

The United States, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average spice export price amounted to $X per ton, stabilizing at the previous year. In general, the export price showed a pronounced descent. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Thailand ($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 India (X%), while the prices for the other major destinations experienced mixed trend patterns.

Spice Imports

Imports into New Zealand

After five years of growth, overseas purchases of spices decreased by X% to X tons in 2022. Over the period under review, total imports indicated pronounced growth 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. The pace of growth was the most pronounced in 2015 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2021, and then contracted dramatically in the following year.

In value terms, spice imports dropped to $X in 2022. In general, total imports indicated resilient growth 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 pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then declined in the following year.

Imports by Country

India (X tons), Thailand (X tons) and China (X tons) were the main suppliers of spice imports to New Zealand, together accounting for X% of total imports. Vietnam, Australia, Spain, Fiji and Malaysia 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, the largest spice suppliers to New Zealand were India ($X), Vietnam ($X) and Australia ($X), together accounting for X% of total imports. China, Thailand, Spain, Malaysia and Fiji lagged somewhat behind, together comprising a further X%.

Spain, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average spice import price stood at $X per ton in 2022, growing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2013 when the average import price increased by X%. Over the period under review, average import prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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