Price for Spices; Vanilla, Crushed or Ground in Turkey - 2023
Contents:
- Price for Spices; Vanilla, Crushed or Ground in Turkey (FOB) - 2023
- Price for Spices; Vanilla, Crushed or Ground in Turkey (CIF) - 2022
- Exports of Spices; Vanilla, Crushed or Ground in Turkey
- Imports of Spices; Vanilla, Crushed or Ground in Turkey
Price for Spices; Vanilla, Crushed or Ground in Turkey (FOB) - 2023
In March 2023, the average export price for spices; vanilla, crushed or ground amounted to $2,677 per ton, with an increase of 44% against the previous month. Overall, export price indicated a tangible increase from July 2022 to March 2023: its price increased at an average monthly rate of +4.5% over the last eight months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on March 2023 figures, spices; vanilla, crushed or ground export price increased by +50.8% against December 2022 indices. The pace of growth was the most pronounced in November 2022 an increase of 44% against the previous month. As a result, the export price reached the peak level of $3,015 per ton. From December 2022 to March 2023, the the average export prices remained at a lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was the UK ($3,047 per ton), while the average price for exports to Uzbekistan ($2,000 per ton) was amongst the lowest.
From July 2022 to March 2023, the most notable rate of growth in terms of prices was recorded for supplies to Syrian Arab Republic (+5.4%), while the prices for the other major destinations experienced mixed trend patterns.
Price for Spices; Vanilla, Crushed or Ground in Turkey (CIF) - 2022
In 2022, the average import price for spices; vanilla, crushed or ground amounted to $14,055 per ton, waning by -24.4% against the previous year. In general, the import price recorded a deep contraction. The most prominent rate of growth was recorded in 2021 an increase of 83% against the previous year. The import price peaked at $60,566 per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Madagascar ($70,936 per ton), while the price for Austria ($6,767 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Madagascar (+1.6%), while the prices for the other major suppliers experienced a decline.
Exports of Spices; Vanilla, Crushed or Ground in Turkey
Spices; vanilla, crushed or ground exports from Turkey rose sharply to 386 tons in 2022, increasing by 9.1% compared with 2021. The total export volume increased at an average annual rate of +10.8% 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 2020 when exports increased by 21% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in years to come.
In value terms, spices; vanilla, crushed or ground exports stood at $890K in 2022. The total export value increased at an average annual rate of +3.1% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 when exports increased by 31%. As a result, the exports attained the peak of $1.1M. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
| Export of Spices; Vanilla, Crushed or Ground in Turkey (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Syrian Arab Republic | 602 | 855 | 641 | 552 | -2.8% |
| Azerbaijan | 23.8 | 51.0 | 20.9 | 164 | 90.3% |
| Iran | 78.0 | 78.0 | 101 | 46.3 | -16.0% |
| Lebanon | N/A | 18.2 | 22.7 | 19.3 | 3.0% |
| Senegal | 14.3 | 0.2 | 7.7 | 4.6 | -31.5% |
| Others | 94.8 | 65.5 | 90.8 | 104 | 3.1% |
| Total | 813 | 1,067 | 884 | 890 | 3.1% |
Top Export Markets for Spices; Vanilla, Crushed or Ground from Turkey in 2022:
- Syrian Arab Republic (279.1 tons)
- Azerbaijan (46.3 tons)
- Iran (13.0 tons)
- Lebanon (11.5 tons)
- Senegal (6.3 tons)
Imports of Spices; Vanilla, Crushed or Ground in Turkey
In 2022, overseas purchases of spices; vanilla, crushed or ground increased by 106% to 5.3 tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, saw a deep slump.
In value terms, spices; vanilla, crushed or ground imports skyrocketed to $75K in 2022. In general, total imports indicated resilient growth from 2019 to 2022: its value increased at an average annual rate of +15.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Spices; Vanilla, Crushed or Ground in Turkey (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Madagascar | 10.0 | 11.1 | 30.2 | 37.8 | 55.8% |
| Austria | 18.9 | 0.1 | 9.0 | 21.8 | 4.9% |
| Netherlands | 20.0 | 29.9 | 6.7 | 13.3 | -12.7% |
| France | N/A | 0.9 | 2.0 | 1.4 | 24.7% |
| Belgium | 0.1 | N/A | N/A | N/A | 0% |
| India | N/A | 15.0 | N/A | N/A | 0% |
| Others | N/A | N/A | 0.4 | 0.7 | 75.0% |
| Total | 49.0 | 57.0 | 48.3 | 75.1 | 15.3% |
Top Suppliers of Spices; Vanilla, Crushed or Ground to Turkey in 2022:
- Austria (3.2 tons)
- Netherlands (1.4 tons)
- Madagascar (0.5 tons)
- France (0.2 tons)
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This report provides an in-depth analysis of the vanilla market in Turkey.
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This report provides an in-depth analysis of the global vanilla market.
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This report provides an in-depth analysis of the vanilla market in Turkey.
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This report provides an in-depth analysis of the global vanilla market.
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In 2016, the vanilla market dropped to X tons, caused by the reduction of global vanilla production due to harvest cuts in Madagascar and Indonesia. At the same time, demand for vanilla continues to grow against the backdrop of growing demand from
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Global vanilla consumption amounted to X thousand tons in 2015, stabilizing at the previous year level.
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In 2015, global consumption of vanilla amounted to X tons, standing approx. at the 2014 level. One year before there was a fall by X% caused by the reduction of vanilla production in Indonesia; from 2007 to 2013, va
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The value of total imports on the global vanilla market in 2015 stood at X million USD. There was an annual increase of +X% for the period from 2007 to 2015. In physical terms, imports of vanilla reached X tons i
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From 2007 to 2015, global exports of vanilla grew by +X% per year, amounting to X million USD in 2015. In physical terms, exports on the global vanilla market reached X tons in 2015, which was X tons (or X%) more than the year before.
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The global production of vanilla was estimated at X tons in 2015, an increase of X tons against the figure for 2013, and X tons (or X%) less than the peak production level recorded in 2011.
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From 2007 to 2015, global vanilla market consumption decreased by -X% annually. The highest annual rates of growth in terms of vanilla consumption between 2007 and 2015 were registered in India, with a +X% growth, due to the increased number of va
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Although widely considered a standard commodity, vanilla requires highly labor-intensive methods of cultivation that make it the second most expensive spice in the world, surpassed only by saffron.
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France dominates in the global vanilla trade. In 2014, France exported X thousand tons of vanilla totaling X million USD, X% over the previous year. Its primary trading partner was Germany, where it supplied X% of its total vanilla exports in val
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In 2016, the vanilla market dropped to X tons, caused by the reduction of global vanilla production due to harvest cuts in Madagascar and Indonesia. At the same time, demand for vanilla continues to grow against the backdrop of growing demand from
