Price for Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in India - 2023
Contents:
- Price for Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in India (FOB) - 2023
- Price for Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in India (CIF) - 2022
- Exports of Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in India
- Imports of Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in India
Price for Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in India (FOB) - 2023
The average export price for spices; fruits of the genus capsicum or pimenta, crushed or ground stood at $3,268 per ton in October 2023, stabilizing at the previous month. Over the period from November 2022 to October 2023, it increased at an average monthly rate of +1.3%. The most prominent rate of growth was recorded in March 2023 when the average export price increased by 17% against the previous month. The export price peaked at $3,289 per ton in August 2023; afterwards, it flattened through to October 2023.
Prices varied noticeably by the country of destination: the country with the highest price was Canada ($4,416 per ton), while the average price for exports to Tunisia ($1,463 per ton) was amongst the lowest.
From November 2022 to October 2023, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (+1.8%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in India (CIF) - 2022
The average import price for spices; fruits of the genus capsicum or pimenta, crushed or ground stood at $3,169 per ton in 2022, with an increase of 2% against the previous year. Overall, the import price continues to indicate a tangible increase. The growth pace was the most rapid in 2014 an increase of 153%. As a result, import price attained the peak level of $6,434 per ton. From 2015 to 2022, the average 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 the United States ($4,499 per ton), while the price for South Africa ($1,494 per ton) was amongst the lowest.
From 2013 to 2022, the most notable rate of growth in terms of prices was attained by Rwanda (+28.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in India
In 2022, after three years of growth, there was significant decline in overseas shipments of spices; fruits of the genus capsicum or pimenta, crushed or ground, when their volume decreased by -10.5% to 86K tons. The total export volume increased at an average annual rate of +2.5% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 when exports increased by 12% against the previous year.
In value terms, exports of spices; fruits of the genus capsicum or pimenta, crushed or ground reached $234M in 2022. Overall, total exports indicated a prominent increase from 2019 to 2022: its value increased at an average annual rate of +14.6% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +50.7% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 29%. The exports peaked in 2022 and are likely to continue growth in years to come.
| Export of Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 55.9 | 65.5 | 89.1 | 76.7 | 11.1% |
| United Arab Emirates | 12.1 | 17.4 | 17.1 | 22.3 | 22.6% |
| Indonesia | 4.7 | 11.7 | 7.2 | 21.5 | 66.0% |
| United Kingdom | 11.1 | 13.9 | 17.9 | 15.0 | 10.6% |
| Saudi Arabia | 7.2 | 8.5 | 9.4 | 11.5 | 16.9% |
| Canada | 4.2 | 5.4 | 6.9 | 6.5 | 15.7% |
| Australia | 4.2 | 5.2 | 6.6 | 6.1 | 13.2% |
| South Africa | 3.9 | 6.7 | 6.3 | 5.8 | 14.1% |
| Oman | 1.5 | 2.4 | 2.6 | 4.7 | 46.3% |
| Qatar | 2.6 | 3.6 | 3.6 | 4.5 | 20.1% |
| Nepal | 8.1 | 8.0 | 4.9 | 4.0 | -21.0% |
| Russia | 1.3 | 2.4 | 2.0 | 2.7 | 27.6% |
| China | 0.6 | 2.5 | 4.0 | 2.2 | 54.2% |
| Others | 37.7 | 46.8 | 55.4 | 50.2 | 10.0% |
| Total | 155 | 200 | 233 | 234 | 14.7% |
Top Export Markets for Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground from India in 2022:
- United States (24.1K tons)
- Indonesia (10.1K tons)
- United Arab Emirates (9.3K tons)
- Saudi Arabia (5.1K tons)
- United Kingdom (4.2K tons)
- Nepal (2.1K tons)
- Canada (1.8K tons)
- Russia (1.8K tons)
- South Africa (1.7K tons)
- Oman (1.7K tons)
- Qatar (1.7K tons)
- Australia (1.6K tons)
- China (1.6K tons)
Imports of Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in India
Imports of spices; fruits of the genus capsicum or pimenta, crushed or ground into India dropped markedly to 1.5K tons in 2022, which is down by -26% compared with the year before. Overall, imports, however, showed a buoyant increase. The most prominent rate of growth was recorded in 2021 when imports increased by 129% against the previous year. As a result, imports attained the peak of 2K tons, and then dropped dramatically in the following year.
In value terms, imports of spices; fruits of the genus capsicum or pimenta, crushed or ground fell markedly to $4.7M in 2022. Over the period under review, imports, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 101%. As a result, imports reached the peak of $6.3M, and then fell significantly in the following year.
| Import of Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in India (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 655 | 830 | 1,933 | 1,366 | 27.8% |
| Spain | 354 | 373 | 427 | 811 | 31.8% |
| United States | 488 | 392 | 1,697 | 353 | -10.2% |
| Italy | 70.1 | 120 | 104 | 297 | 61.8% |
| Zambia | N/A | N/A | N/A | 294 | 0% |
| France | 1.0 | 512 | 633 | 266 | 543.1% |
| Indonesia | N/A | N/A | N/A | 140 | 0% |
| Rwanda | 80.8 | 51.1 | 46.3 | 96.2 | 6.0% |
| Bahrain | 21.3 | N/A | 13.2 | 77.6 | 53.9% |
| Sri Lanka | N/A | 0.6 | 1.6 | 75.9 | 1024.7% |
| Netherlands | 3.6 | 69.5 | 103 | 72.4 | 171.9% |
| South Africa | N/A | 9.1 | N/A | 71.7 | 180.7% |
| Egypt | 7.4 | N/A | 41.6 | 69.7 | 111.2% |
| Others | 741 | 752 | 1,252 | 723 | -0.8% |
| Total | 2,423 | 3,109 | 6,251 | 4,714 | 24.8% |
Top Suppliers of Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground to India in 2022:
- China (537.2 tons)
- Spain (227.1 tons)
- Zambia (100.0 tons)
- Italy (87.1 tons)
- United States (78.6 tons)
- France (61.1 tons)
- Indonesia (50.0 tons)
- South Africa (48.0 tons)
- Rwanda (36.0 tons)
- Bahrain (33.0 tons)
- Sri Lanka (25.6 tons)
- Egypt (25.0 tons)
- Netherlands (23.1 tons)
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