Price for Spices; Mixtures of 2 or More Products of the Same Heading in Colombia - 2022
Contents:
- Price for Spices; Mixtures of 2 or More Products of the Same Heading in Colombia (FOB) - 2022
- Price for Spices; Mixtures of 2 or More Products of the Same Heading in Colombia (CIF) - 2022
- Exports of Spices; Mixtures of 2 or More Products of the Same Heading in Colombia
- Imports of Spices; Mixtures of 2 or More Products of the Same Heading in Colombia
Price for Spices; Mixtures of 2 or More Products of the Same Heading in Colombia (FOB) - 2022
In February 2022, the average export price for spices; mixtures of 2 or more products of the same heading amounted to $5,187 per ton, increasing by 8.7% against the previous month. Over the period under review, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in October 2021 an increase of 17% month-to-month. Over the period under review, the average export prices attained the maximum at $5,389 per ton in February 2021; however, from March 2021 to February 2022, the export prices stood at a somewhat lower figure.
Average prices varied somewhat for the major export markets. In February 2022, the country with the highest price was the United States ($5,301 per ton), while the average price for exports to Canada stood at $4,136 per ton.
From February 2021 to February 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+0.2%).
Price for Spices; Mixtures of 2 or More Products of the Same Heading in Colombia (CIF) - 2022
The average import price for spices; mixtures of 2 or more products of the same heading stood at $2,051 per ton in 2022, waning by -19.6% against the previous year. Overall, the import price continues to indicate a deep reduction. The pace of growth appeared the most rapid in 2021 when the average import price increased by 23% against the previous year. The import price peaked at $4,267 per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($11,207 per ton), while the price for Peru ($202 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+3.7%), while the prices for the other major suppliers experienced mixed trend patterns.
Exports of Spices; Mixtures of 2 or More Products of the Same Heading in Colombia
In 2022, approx. 1.6K tons of spices; mixtures of 2 or more products of the same heading were exported from Colombia; remaining constant against the previous year. The total export volume increased at an average annual rate of +5.9% over the period from 2019 to 2022; however, 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 31%. Over the period under review, the exports of spices; mixtures of 2 or more products of same heading attained the peak figure in 2022 and are likely to see steady growth in the near future.
In value terms, exports of spices; mixtures of 2 or more products of the same heading expanded sharply to $8.1M in 2022. The total export value increased at an average annual rate of +8.3% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 32% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.
| Export of Spices; Mixtures of 2 or More Products of the Same Heading in Colombia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 5.7 | 5.1 | 6.7 | 7.1 | 7.6% |
| Canada | 0.6 | 0.6 | 0.7 | 0.8 | 10.1% |
| Panama | 0.1 | 0.1 | 0.2 | 0.2 | 26.0% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 6.4 | 5.8 | 7.7 | 8.1 | 8.2% |
Top Export Markets for Spices; Mixtures of 2 or More Products of the Same Heading from Colombia in 2022:
- United States (1380.6 tons)
- Canada (169.7 tons)
- Panama (31.8 tons)
Imports of Spices; Mixtures of 2 or More Products of the Same Heading in Colombia
Imports of spices; mixtures of 2 or more products of the same heading into Colombia reached 344 tons in 2022, with an increase of 13% compared with the year before. In general, total imports indicated strong growth from 2019 to 2022: its volume increased at an average annual rate of +18.5% 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 +66.3% against 2019 indices. The growth pace was the most rapid in 2020 when imports increased by 54% against the previous year. Over the period under review, imports of spices; mixtures of 2 or more products of same heading hit record highs in 2022 and are likely to see steady growth in years to come.
In value terms, imports of spices; mixtures of 2 or more products of the same heading dropped to $705K in 2022. The total import value increased at an average annual rate of +5.6% over the period from 2019 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 18%. As a result, imports reached the peak of $776K, and then shrank in the following year.
| Import of Spices; Mixtures of 2 or More Products of the Same Heading in Colombia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Egypt | 37.6 | 177 | 173 | 286 | 96.7% |
| United States | 136 | 144 | 204 | 134 | -0.5% |
| Spain | 21.5 | 38.2 | 119 | 98.8 | 66.3% |
| India | 98.4 | 55.8 | 45.6 | 50.9 | -19.7% |
| Turkey | 108 | 121 | 87.2 | 43.2 | -26.3% |
| Vietnam | N/A | 8.5 | 1.0 | 16.6 | 39.7% |
| China | 35.0 | 30.7 | 25.8 | 13.8 | -26.7% |
| Peru | 7.2 | 4.0 | 3.6 | 6.4 | -3.9% |
| Others | 155 | 78.2 | 117 | 55.5 | -29.0% |
| Total | 599 | 657 | 776 | 705 | 5.6% |
Top Suppliers of Spices; Mixtures of 2 or More Products of the Same Heading to Colombia in 2022:
- Egypt (193.8 tons)
- India (37.5 tons)
- Peru (31.8 tons)
- Spain (28.1 tons)
- Turkey (20.0 tons)
- United States (11.9 tons)
- Vietnam (5.5 tons)
- China (4.6 tons)
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