Price for Vegetable Saps and Extracts; of Hops in Spain - 2023

Contents:

1. Price for Vegetable Saps and Extracts; of Hops in Spain (CIF) - 2023
2. Price for Vegetable Saps and Extracts; of Hops in Spain (FOB) - 2022
3. Imports of Vegetable Saps and Extracts; of Hops in Spain
4. Exports of Vegetable Saps and Extracts; of Hops in Spain

Price for Vegetable Saps and Extracts; of Hops in Spain (CIF) - 2023

In November 2023, the average import price for vegetable saps and extracts; of hopses amounted to $13,899 per ton, waning by -29.6% against the previous month. In general, the import price saw a pronounced decline. The most prominent rate of growth was recorded in May 2023 when the average import price increased by 342% against the previous month. The import price peaked at $34,040 per ton in June 2023; however, from July 2023 to November 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In November 2023, the country with the highest price was Belgium ($39,117 per ton), while the price for Italy ($3,498 per ton) was amongst the lowest.

From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by the United States (+27.4%), while the prices for the other major suppliers experienced a decline.

Price for Vegetable Saps and Extracts; of Hops in Spain (FOB) - 2022

In 2022, the average export price for vegetable saps and extracts; of hopses amounted to $41,451 per ton, with a decrease of -4.5% against the previous year. In general, the export price, however, enjoyed a notable expansion. The most prominent rate of growth was recorded in 2015 an increase of 84% against the previous year. As a result, the export price attained the peak level of $113,700 per ton. From 2016 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Indonesia ($134,197 per ton), while the average price for exports to India ($8,570 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 Indonesia (+84.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Vegetable Saps and Extracts; of Hops in Spain

For the fourth consecutive year, Spain recorded growth in purchases abroad of vegetable saps and extracts; of hopses, which increased by 13% to 713 tons in 2022. Over the period under review, total imports indicated a resilient increase from 2019 to 2022: its volume increased at an average annual rate of +14.7% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +50.8% against 2019 indices. The pace of growth was the most pronounced in 2021 when imports increased by 23% against the previous year. Over the period under review, imports of reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, imports of vegetable saps and extracts; of hopses expanded slightly to $16M in 2022. Overall, total imports indicated a buoyant expansion from 2019 to 2022: its value increased at an average annual rate of +6.7% 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 increased by +52.2% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 49%. Over the period under review, imports of attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Top Suppliers of Vegetable Saps and Extracts; of Hops to Spain in 2022:

1. Germany (555.0 tons)
2. Belgium (90.8 tons)
3. France (32.0 tons)
4. Italy (10.8 tons)

Exports of Vegetable Saps and Extracts; of Hops in Spain

In 2022, the amount of vegetable saps and extracts; of hopses exported from Spain expanded significantly to 22 tons, surging by 12% against the previous year. Over the period under review, total exports indicated a resilient expansion from 2019 to 2022: its volume increased at an average annual rate of +16.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -18.7% against 2020 indices. The pace of growth was the most pronounced in 2020 when exports increased by 92% against the previous year. As a result, the exports attained the peak of 27 tons. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of vegetable saps and extracts; of hopses rose notably to $919K in 2022. In general, exports recorded significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 186% against the previous year. As a result, the exports reached the peak of $1.2M. From 2021 to 2022, the growth of the exports of failed to regain momentum.

Top Export Markets for Vegetable Saps and Extracts; of Hops from Spain in 2022:

1. Portugal (9.7 tons)
2. India (2.2 tons)
3. Colombia (1.5 tons)
4. United Kingdom (1.3 tons)
5. United States (1.1 tons)
6. Indonesia (1.1 tons)
7. Taiwan (Chinese) (1.0 tons)
8. Germany (1.0 tons)
9. Morocco (0.5 tons)
10. Switzerland (0.4 tons)

Source: IndexBox Market Intelligence Platform