Price for Spices; Mixtures of 2 or More Products of the Same Heading in Sri Lanka - 2022
Contents:
- Price for Spices; Mixtures of 2 or More Products of the Same Heading in Sri Lanka (FOB) - 2022
- Price for Spices; Mixtures of 2 or More Products of the Same Heading in Sri Lanka (CIF) - 2022
- Exports of Spices; Mixtures of 2 or More Products of the Same Heading in Sri Lanka
- Imports of Spices; Mixtures of 2 or More Products of the Same Heading in Sri Lanka
Price for Spices; Mixtures of 2 or More Products of the Same Heading in Sri Lanka (FOB) - 2022
The average export price for spices; mixtures of 2 or more products of the same heading stood at $4,250 per ton in 2022, increasing by 44% against the previous year. Overall, export price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for spices; mixtures of 2 or more products of the same heading increased by +80.5% against 2020 indices. Over the period under review, the average export prices attained the peak figure at $4,327 per ton in 2016; however, from 2017 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 the United Arab Emirates ($5,683 per ton), while the average price for exports to Denmark ($3,263 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 United Arab Emirates (+11.5%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Spices; Mixtures of 2 or More Products of the Same Heading in Sri Lanka (CIF) - 2022
The average import price for spices; mixtures of 2 or more products of the same heading stood at $985 per ton in 2022, falling by -15.3% against the previous year. In general, the import price, however, showed a noticeable expansion. The pace of growth was the most pronounced in 2016 an increase of 146% against the previous year. The import price peaked at $3,853 per ton in 2017; however, from 2018 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 Morocco ($3,552 per ton), while the price for Pakistan ($821 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Morocco (+4.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Spices; Mixtures of 2 or More Products of the Same Heading in Sri Lanka
In 2022, shipments abroad of spices; mixtures of 2 or more products of the same heading decreased by -52.1% to 775 tons, falling for the second year in a row after two years of growth. Over the period under review, exports saw a abrupt curtailment. The growth pace was the most rapid in 2020 with an increase of 71%. As a result, the exports attained the peak of 1.6K tons. From 2021 to 2022, the growth of the exports of remained at a lower figure.
In value terms, exports of spices; mixtures of 2 or more products of the same heading fell remarkably to $3.3M in 2022. Overall, total exports indicated a remarkable increase from 2019 to 2022: its value increased at an average annual rate of +6.1% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 when exports increased by 38%.
| Export of Spices; Mixtures of 2 or More Products of the Same Heading in Sri Lanka (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Kingdom | 529 | 799 | 820 | 498 | -2.0% |
| France | 195 | 294 | 519 | 476 | 34.6% |
| Australia | 386 | 481 | 489 | 430 | 3.7% |
| Japan | 72.4 | 131 | 458 | 354 | 69.7% |
| Canada | 191 | 200 | 259 | 286 | 14.4% |
| Germany | 230 | 394 | 431 | 213 | -2.5% |
| Switzerland | 163 | 198 | 253 | 197 | 6.5% |
| South Korea | 83.2 | 113 | 143 | 135 | 17.5% |
| Denmark | 72.9 | 87.1 | 156 | 123 | 19.0% |
| United Arab Emirates | 279 | 130 | 57.3 | 116 | -25.4% |
| Italy | 86.0 | 149 | 244 | 80.0 | -2.4% |
| Qatar | 9.9 | 3.7 | 21.9 | 71.8 | 93.6% |
| Netherlands | 2.4 | 52.3 | 70.6 | 65.9 | 201.7% |
| Others | 455 | 779 | 861 | 246 | -18.5% |
| Total | 2,755 | 3,811 | 4,783 | 3,292 | 6.1% |
Top Export Markets for Spices; Mixtures of 2 or More Products of the Same Heading from Sri Lanka in 2022:
- United Kingdom (127.2 tons)
- France (112.5 tons)
- Australia (78.1 tons)
- Canada (72.4 tons)
- Japan (71.3 tons)
- Germany (60.8 tons)
- Switzerland (58.5 tons)
- Denmark (37.7 tons)
- South Korea (25.2 tons)
- United Arab Emirates (20.3 tons)
- Qatar (19.0 tons)
- Netherlands (18.6 tons)
- Italy (15.2 tons)
Imports of Spices; Mixtures of 2 or More Products of the Same Heading in Sri Lanka
In 2022, supplies from abroad of spices; mixtures of 2 or more products of the same heading decreased by -21.2% to 2.4K tons, falling for the second consecutive year after two years of growth. Overall, total imports indicated a remarkable increase from 2019 to 2022: its volume increased at an average annual rate of +5.7% 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 decreased by -26.8% against 2020 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 61% against the previous year. As a result, imports reached the peak of 3.3K tons. From 2021 to 2022, the growth of imports of remained at a lower figure.
In value terms, imports of spices; mixtures of 2 or more products of the same heading fell markedly to $2.4M in 2022. Over the period under review, total imports indicated a prominent increase from 2019 to 2022: its value increased at an average annual rate of +9.7% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by 47% against the previous year.
| Import of Spices; Mixtures of 2 or More Products of the Same Heading in Sri Lanka (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 758 | 1,918 | 2,207 | 1,845 | 34.5% |
| Morocco | N/A | 168 | 81.2 | 266 | 25.8% |
| Pakistan | 980 | 511 | 1,075 | 155 | -45.9% |
| Others | 57.4 | 42.7 | 188 | 103 | 21.5% |
| Total | 1,795 | 2,639 | 3,551 | 2,370 | 9.7% |
Top Suppliers of Spices; Mixtures of 2 or More Products of the Same Heading to Sri Lanka in 2022:
- India (2094.8 tons)
- Pakistan (189.0 tons)
- Morocco (75.0 tons)
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