Price for Spices; Mixtures of 2 or More Products of the Same Heading in Ethiopia - 2022
Contents:
- Price for Spices; Mixtures of 2 or More Products of the Same Heading in Ethiopia (CIF) - 2022
- Price for Spices; Mixtures of 2 or More Products of the Same Heading in Ethiopia (FOB) - 2022
- Imports of Spices; Mixtures of 2 or More Products of the Same Heading in Ethiopia
- Exports of Spices; Mixtures of 2 or More Products of the Same Heading in Ethiopia
Price for Spices; Mixtures of 2 or More Products of the Same Heading in Ethiopia (CIF) - 2022
The average import price for spices; mixtures of 2 or more products of the same heading stood at $988 per ton in 2022, shrinking by -22.4% against the previous year. Overall, the import price continues to indicate a deep setback. The growth pace was the most rapid in 2019 an increase of 53% against the previous year. The import price peaked at $2,723 per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Egypt ($4,024 per ton), while the price for China ($703 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 Arab Emirates (+3.7%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Spices; Mixtures of 2 or More Products of the Same Heading in Ethiopia (FOB) - 2022
The average export price for spices; mixtures of 2 or more products of the same heading stood at $2,668 per ton in 2022, declining by -4.2% against the previous year. In general, export price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for spices; mixtures of 2 or more products of the same heading increased by +52.9% against 2018 indices. The growth pace was the most rapid in 2021 when the average export price increased by 43% against the previous year. As a result, the export price reached the peak level of $2,783 per ton, and then contracted slightly in the following year.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($5,750 per ton), while the average price for exports to Djibouti ($493 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 Sudan (+10.4%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Spices; Mixtures of 2 or More Products of the Same Heading in Ethiopia
In 2022, the amount of spices; mixtures of 2 or more products of the same heading imported into Ethiopia skyrocketed to 771 tons, growing by 82% on the previous year's figure. Overall, imports continue to indicate a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, imports of spices; mixtures of 2 or more products of the same heading skyrocketed to $762K in 2022. Over the period under review, imports, however, recorded a abrupt slump.
Import of Spices; Mixtures of 2 or More Products of the Same Heading in Ethiopia (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
China | 18.9 | 36.6 | 70.3 | 372 | 170.0% |
India | 9.2 | 438 | 217 | 250 | 200.6% |
Egypt | N/A | N/A | 4.3 | 108 | 2411.6% |
United Arab Emirates | 210 | 48.3 | 51.9 | 13.0 | -60.4% |
Indonesia | 650 | 179 | 169 | N/A | -49.0% |
Others | 21.1 | 21.6 | 25.8 | 18.4 | -4.5% |
Total | 909 | 724 | 538 | 762 | -5.7% |
Top Suppliers of Spices; Mixtures of 2 or More Products of the Same Heading to Ethiopia in 2022:
- China (528.4 tons)
- India (204.2 tons)
- Egypt (26.9 tons)
- United Arab Emirates (4.9 tons)
Exports of Spices; Mixtures of 2 or More Products of the Same Heading in Ethiopia
In 2022, overseas shipments of spices; mixtures of 2 or more products of the same heading decreased by -15.5% to 212 tons, falling for the second consecutive year after two years of growth. Over the period under review, exports faced a precipitous setback. The most prominent rate of growth was recorded in 2020 with an increase of 17%. As a result, the exports attained the peak of 541 tons. From 2021 to 2022, the growth of the exports of remained at a lower figure.
In value terms, exports of spices; mixtures of 2 or more products of the same heading reduced rapidly to $566K in 2022. Overall, exports continue to indicate a abrupt downturn. The pace of growth appeared the most rapid in 2020 when exports increased by 15% against the previous year. As a result, the exports reached the peak of $1.1M. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.
Export of Spices; Mixtures of 2 or More Products of the Same Heading in Ethiopia (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
United States | 86.5 | 140 | 248 | 197 | 31.6% |
India | 487 | 287 | 104 | 145 | -33.2% |
Canada | 14.3 | 25.6 | 59.5 | 49.9 | 51.7% |
Saudi Arabia | 62.7 | 21.5 | 43.5 | 38.4 | -15.1% |
Pakistan | N/A | N/A | N/A | 22.6 | 0% |
Yemen | 97.2 | 258 | 42.3 | 20.0 | -41.0% |
Djibouti | 12.7 | 13.6 | 10.0 | 11.3 | -3.8% |
Sudan | 60.8 | 51.9 | N/A | N/A | -14.6% |
Indonesia | 46.6 | N/A | N/A | N/A | 0% |
Egypt | N/A | 16.6 | N/A | N/A | 0% |
Others | 52.8 | 241 | 192 | 81.8 | 15.7% |
Total | 921 | 1,055 | 699 | 566 | -15.0% |
Top Export Markets for Spices; Mixtures of 2 or More Products of the Same Heading from Ethiopia in 2022:
- India (70.0 tons)
- United States (42.5 tons)
- Djibouti (22.9 tons)
- Yemen (20.0 tons)
- Saudi Arabia (14.2 tons)
- Pakistan (9.4 tons)
- Canada (8.7 tons)
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