Price for Spices; Mixtures of 2 or More Products of the Same Heading in Australia - 2023
Contents:
- Price for Spices; Mixtures of 2 or More Products of the Same Heading in Australia (CIF) - 2023
- Price for Spices; Mixtures of 2 or More Products of the Same Heading in Australia (FOB) - 2023
- Imports of Spices; Mixtures of 2 or More Products of the Same Heading in Australia
- Exports of Spices; Mixtures of 2 or More Products of the Same Heading in Australia
Price for Spices; Mixtures of 2 or More Products of the Same Heading in Australia (CIF) - 2023
The average import price for spices; mixtures of 2 or more products of the same heading stood at $4,781 per ton in December 2023, increasing by 18% against the previous month. Overall, the import price, however, showed a slight shrinkage. The pace of growth appeared the most rapid in October 2023 an increase of 28% m-o-m. Over the period under review, average import prices hit record highs at $5,502 per ton in December 2022; however, from January 2023 to December 2023, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In December 2023, the country with the highest price was Singapore ($12,156 per ton), while the price for Jordan ($1,980 per ton) was amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by Singapore (+12.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Spices; Mixtures of 2 or More Products of the Same Heading in Australia (FOB) - 2023
In December 2023, the average export price for spices; mixtures of 2 or more products of the same heading amounted to $2,056 per ton, reducing by -9.4% against the previous month. In general, the export price recorded a deep slump. The pace of growth was the most pronounced in August 2023 an increase of 379% m-o-m. As a result, the export price attained the peak level of $30,469 per ton. From September 2023 to December 2023, the the average export prices failed to regain momentum.
There were significant differences in the average prices for the major foreign markets. In December 2023, the country with the highest price was New Zealand ($2,860 per ton), while the average price for exports to Singapore ($1,120 per ton) was amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+26.3%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Spices; Mixtures of 2 or More Products of the Same Heading in Australia
In 2022, imports of spices; mixtures of 2 or more products of the same heading into Australia reached 2.7K tons, surging by 6.5% compared with the year before. The total import volume increased at an average annual rate of +7.3% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2020 when imports increased by 10% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.
In value terms, imports of spices; mixtures of 2 or more products of the same heading rose markedly to $12M in 2022. The total import value increased at an average annual rate of +11.9% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 16%. Imports peaked in 2022 and are expected to retain growth in the near future.
| Import of Spices; Mixtures of 2 or More Products of the Same Heading in Australia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 2,571 | 3,680 | 3,739 | 3,946 | 15.4% |
| Turkey | 557 | 578 | 905 | 1,193 | 28.9% |
| China | 933 | 471 | 607 | 807 | -4.7% |
| Vietnam | 443 | 420 | 574 | 719 | 17.5% |
| Thailand | 153 | 149 | 329 | 675 | 64.0% |
| Malaysia | 571 | 546 | 628 | 620 | 2.8% |
| Egypt | 283 | 339 | 524 | 616 | 29.6% |
| Greece | 618 | 448 | 290 | 430 | -11.4% |
| Japan | 392 | 320 | 406 | 383 | -0.8% |
| Morocco | 207 | 278 | 401 | 363 | 20.6% |
| Sri Lanka | 280 | 349 | 333 | 322 | 4.8% |
| Jordan | 232 | 240 | 360 | 281 | 6.6% |
| Others | 1,211 | 1,519 | 1,747 | 1,499 | 7.4% |
| Total | 8,451 | 9,339 | 10,844 | 11,853 | 11.9% |
Top Suppliers of Spices; Mixtures of 2 or More Products of the Same Heading to Australia in 2022:
- India (950.5 tons)
- Vietnam (314.9 tons)
- Turkey (300.7 tons)
- Thailand (152.8 tons)
- Egypt (125.4 tons)
- Malaysia (112.2 tons)
- Jordan (110.1 tons)
- Greece (107.4 tons)
- China (78.4 tons)
- Japan (76.6 tons)
- Morocco (53.3 tons)
- Sri Lanka (51.5 tons)
Exports of Spices; Mixtures of 2 or More Products of the Same Heading in Australia
In 2022, exports of spices; mixtures of 2 or more products of the same heading from Australia soared to 903 tons, increasing by 35% on 2021 figures. The total export volume increased at an average annual rate of +2.0% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, exports of spices; mixtures of 2 or more products of the same heading surged to $8M in 2022. Overall, total exports indicated buoyant growth from 2019 to 2022: its value increased at an average annual rate of +8.2% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +57.3% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 36%. Over the period under review, the exports of spices; mixtures of 2 or more products of same heading hit record highs in 2022 and are expected to retain growth in the near future.
| Export of Spices; Mixtures of 2 or More Products of the Same Heading in Australia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 3,518 | 3,177 | 3,874 | 5,779 | 18.0% |
| New Zealand | 1,658 | 676 | 877 | 659 | -26.5% |
| United States | 114 | 63.5 | 336 | 404 | 52.5% |
| Fiji | 16.5 | 15.1 | 10.0 | 193 | 127.0% |
| New Caledonia | 69.4 | 95.7 | 132 | 149 | 29.0% |
| Papua New Guinea | 61.9 | 33.4 | 34.0 | 122 | 25.4% |
| Malaysia | 251 | 219 | 320 | 120 | -21.8% |
| Others | 622 | 806 | 1,322 | 572 | -2.8% |
| Total | 6,312 | 5,086 | 6,906 | 7,999 | 8.2% |
Top Export Markets for Spices; Mixtures of 2 or More Products of the Same Heading from Australia in 2022:
- Netherlands (586.3 tons)
- New Zealand (159.3 tons)
- Papua New Guinea (23.6 tons)
- Fiji (20.5 tons)
- United States (19.2 tons)
- Malaysia (18.6 tons)
- New Caledonia (18.1 tons)
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