Pakistan: Spice Market 2024

Spice Market Size in Pakistan

The Pakistani spice market fell to $X in 2022, dropping by X% against the previous year. In general, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Spice Production in Pakistan

In value terms, spice production rose notably to $X in 2022 estimated in export price. In general, production, however, saw a mild shrinkage. The most prominent rate of growth was recorded in 2020 when the production volume increased by X%. Spice production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

The average yield of spices in Pakistan reduced to X tons per ha in 2022, which is down by X% compared with 2021. The yield figure increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, the yield attained the peak level of X tons per ha, and then reduced in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The spice harvested area in Pakistan expanded notably to X ha in 2022, surging by X% compared with 2021 figures. In general, the harvested area, however, saw a slight curtailment. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. The spice harvested area peaked at X ha in 2012; however, from 2013 to 2022, the harvested area failed to regain momentum.

Spice Exports

Exports from Pakistan

In 2022, spice exports from Pakistan fell to X tons, reducing by X% compared with 2021. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when exports increased by X% against the previous year. The exports peaked at X tons in 2021, and then dropped in the following year.

In value terms, spice exports fell modestly to $X in 2022. Overall, total exports indicated buoyant 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, exports increased by X% against 2012 indices. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of $X, and then shrank in the following year.

Exports by Country

Saudi Arabia (X tons), the United Arab Emirates (X tons) and the United States (X tons) were the main destinations of spice exports from Pakistan, with a combined X% share of total exports. The UK, Canada, Sri Lanka, Australia, Bangladesh, Qatar, Oman, Sudan, Kuwait and Mexico lagged somewhat behind, together comprising a further X%.

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

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

From 2012 to 2022, the average annual rate of growth in terms of value to Saudi Arabia 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 the UK (X% per year).

Export Prices by Country

In 2022, the average spice export price amounted to $X per ton, with an increase of X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. The export price peaked in 2022 and is expected to retain growth in the near future.

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 United States ($X per ton), while the average price for exports to Sudan ($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 Oman (X%), while the prices for the other major destinations experienced more modest paces of growth.

Spice Imports

Imports into Pakistan

In 2022, overseas purchases of spices decreased by X% to X tons for the first time since 2017, thus ending a four-year rising trend. Overall, total imports indicated a remarkable 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. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Imports peaked at X tons in 2021, and then contracted markedly in the following year.

In value terms, spice imports contracted rapidly to $X in 2022. In general, imports, however, showed a buoyant expansion. The most prominent rate of growth was recorded in 2014 with an increase of X%. Imports peaked at $X in 2021, and then shrank significantly in the following year.

Imports by Country

Thailand (X tons), China (X tons) and Iran (X tons) were the main suppliers of spice imports to Pakistan, with a combined X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Thailand (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 Pakistan were China ($X), Thailand ($X) and Vietnam ($X), with a combined X% share of total imports.

Among the main suppliers, Thailand, with a CAGR of X%, saw the highest growth rate of 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, falling by X% against the previous year. Over the period under review, import price indicated a remarkable increase from 2012 to 2022: its price 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 most prominent rate of growth was recorded in 2016 an increase of X%. The import price peaked at $X per ton in 2021, and then declined rapidly in the following year.

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 ($X per ton), while the price for Iran ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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