Price for Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in the United States - 2023

Contents:

1. Price for Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in the United States (CIF) - 2023
2. Price for Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in the United States (FOB) - 2023
3. Imports of Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in the United States
4. Exports of Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in the United States

Price for Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in the United States (CIF) - 2023

In November 2023, the average import price for spices; fruits of the genus capsicum or pimenta, crushed or ground amounted to $1,934 per ton, increasing by 8.9% against the previous month. In general, the import price, however, showed a slight curtailment. The growth pace was the most rapid in February 2023 an increase of 16% month-to-month. The import price peaked at $2,707 per ton in April 2023; however, from May 2023 to November 2023, import prices stood at a somewhat lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was Spain ($4,302 per ton), while the price for Mexico ($837 per ton) was amongst the lowest.

From December 2022 to November 2023, the most notable rate of growth in terms of prices was attained by Mexico (+1.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in the United States (FOB) - 2023

The average export price for spices; fruits of the genus capsicum or pimenta, crushed or ground stood at $3,686 per ton in November 2023, remaining stable against the previous month. Overall, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in June 2023 when the average export price increased by 19% month-to-month. The export price peaked at $3,872 per ton in September 2023; however, from October 2023 to November 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In November 2023, the country with the highest price was Japan ($5,547 per ton), while the average price for exports to Germany ($1,488 per ton) was amongst the lowest.

From December 2022 to November 2023, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+8.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in the United States

For the fourth year in a row, the United States recorded growth in supplies from abroad of spices; fruits of the genus capsicum or pimenta, crushed or ground, which increased by 0.6% to 121K tons in 2022. The total import volume increased at an average annual rate of +7.3% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by 12%. Over the period under review, imports of spices; fruits of genus capsicum or pimenta, crushed or ground hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, imports of spices; fruits of the genus capsicum or pimenta, crushed or ground rose sharply to $270M in 2022. Overall, total imports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +13.2% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +45.2% against 2019 indices. The pace of growth was the most pronounced in 2021 when imports increased by 23%. Imports peaked in 2022 and are likely to continue growth in the immediate term.

Top Suppliers of Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground to the United States in 2022:

1. Mexico (48.9K tons)
2. India (23.7K tons)
3. Spain (17.3K tons)
4. China (14.5K tons)
5. Peru (6.4K tons)
6. Colombia (3.4K tons)
7. Israel (2.1K tons)

Exports of Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in the United States

For the fourth year in a row, the United States recorded growth in shipments abroad of spices; fruits of the genus capsicum or pimenta, crushed or ground, which increased by 15% to 6.3K tons in 2022. The total export volume increased at an average annual rate of +4.9% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, exports of spices; fruits of the genus capsicum or pimenta, crushed or ground expanded rapidly to $22M in 2022. The total export value increased at an average annual rate of +5.2% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Top Export Markets for Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground from the United States in 2022:

1. Canada (3932.1 tons)
2. Mexico (764.6 tons)
3. Sweden (144.0 tons)
4. Ecuador (143.5 tons)
5. Japan (140.6 tons)
6. United Arab Emirates (123.5 tons)
7. Costa Rica (117.8 tons)
8. Jamaica (111.3 tons)
9. El Salvador (99.5 tons)
10. Saudi Arabia (37.4 tons)
11. India (29.2 tons)
12. United Kingdom (4.1 tons)

Source: IndexBox Market Intelligence Platform