Price for Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Singapore - 2022
Contents:
- Price for Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Singapore (CIF) - 2022
- Price for Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Singapore (FOB) - 2022
- Imports of Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Singapore
- Exports of Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Singapore
Price for Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Singapore (CIF) - 2022
In September 2022, the average import price for spices; fruits of the genus capsicum or pimenta, crushed or ground amounted to $3,661 per ton, growing by 9.5% against the previous month. Over the period under review, import price indicated measured growth from September 2021 to September 2022: its price increased at an average monthly rate of +4.5% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on September 2022 figures, import price for spices; fruits of the genus capsicum or pimenta, crushed or ground increased by +24.6% against May 2022 indices. The pace of growth appeared the most rapid in January 2022 when the average import price increased by 27% against the previous month. Over the period under review, average import prices hit record highs in September 2022.
Prices varied noticeably by the country of origin: the country with the highest price was South Korea ($6,516 per ton), while the price for Indonesia ($565 per ton) was amongst the lowest.
From September 2021 to September 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+19.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Singapore (FOB) - 2022
In 2022, the average export price for spices; fruits of the genus capsicum or pimenta, crushed or ground amounted to $2,900 per ton, picking up by 6.4% against the previous year. In general, the export price, however, recorded a slight decrease. The pace of growth appeared the most rapid in 2021 when the average export price increased by 40%. The export price peaked at $3,311 per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($7,249 per ton), while the average price for exports to the Philippines ($1,535 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 Mexico (+27.2%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Singapore
In 2022, overseas purchases of spices; fruits of the genus capsicum or pimenta, crushed or ground decreased by -0.8% to 3.2K tons, falling for the second year in a row after two years of growth. The total import volume increased at an average annual rate of +2.1% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by 12% against the previous year. As a result, imports reached the peak of 3.4K tons. From 2021 to 2022, the growth of imports of remained at a lower figure.
In value terms, imports of spices; fruits of the genus capsicum or pimenta, crushed or ground expanded significantly to $7.9M in 2022. The total import value increased at an average annual rate of +8.8% from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The growth pace was the most rapid in 2020 when imports increased by 16%. Imports peaked in 2022 and are likely to see gradual growth in the near future.
| Import of Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Singapore (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Malaysia | 1,746 | 1,748 | 1,793 | 1,891 | 2.7% |
| China | 858 | 1,221 | 857 | 1,430 | 18.6% |
| India | 978 | 1,208 | 1,502 | 1,213 | 7.4% |
| South Korea | 613 | 865 | 749 | 676 | 3.3% |
| Thailand | 472 | 449 | 549 | 524 | 3.5% |
| Bangladesh | 87.5 | 136 | 148 | 446 | 72.1% |
| Vietnam | 164 | 130 | 121 | 204 | 7.5% |
| Indonesia | 16.1 | 45.0 | 55.1 | 47.8 | 43.7% |
| Others | 1,167 | 1,264 | 1,226 | 1,423 | 6.8% |
| Total | 6,101 | 7,067 | 6,999 | 7,855 | 8.8% |
Top Suppliers of Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground to Singapore in 2022:
- Malaysia (1419.1 tons)
- China (379.5 tons)
- India (377.7 tons)
- South Korea (234.2 tons)
- Thailand (193.8 tons)
- Indonesia (168.1 tons)
- Vietnam (141.8 tons)
- Bangladesh (119.0 tons)
Exports of Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Singapore
In 2022, overseas shipments of spices; fruits of the genus capsicum or pimenta, crushed or ground decreased by -30% to 201 tons, falling for the second consecutive year after two years of growth. In general, exports continue to indicate a deep contraction. The pace of growth appeared the most rapid in 2020 when exports increased by 48%. As a result, the exports reached the peak of 444 tons. From 2021 to 2022, the growth of the exports of failed to regain momentum.
In value terms, exports of spices; fruits of the genus capsicum or pimenta, crushed or ground contracted sharply to $584K in 2022. Over the period under review, exports continue to indicate a abrupt setback. The growth pace was the most rapid in 2020 with an increase of 19% against the previous year. As a result, the exports attained the peak of $864K. From 2021 to 2022, the growth of the exports of failed to regain momentum.
| Export of Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Singapore (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Malaysia | 323 | 301 | 431 | 283 | -4.3% |
| Philippines | 161 | 159 | 122 | 131 | -6.6% |
| Australia | 4.3 | 10.1 | 20.9 | 47.4 | 122.6% |
| Vietnam | 26.0 | 29.0 | 20.9 | 32.7 | 7.9% |
| Fiji | 25.8 | 40.3 | 39.5 | 26.1 | 0.4% |
| South Korea | 5.8 | 13.0 | 12.7 | 12.5 | 29.2% |
| Indonesia | 45.6 | 37.5 | 83.9 | 8.4 | -43.1% |
| Brunei Darussalam | 55.9 | 24.6 | 4.3 | 2.4 | -65.0% |
| Pakistan | N/A | 216 | N/A | N/A | 0% |
| Others | 79.0 | 32.3 | 49.4 | 40.2 | -20.2% |
| Total | 726 | 864 | 784 | 584 | -7.0% |
Top Export Markets for Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground from Singapore in 2022:
- Philippines (85.2 tons)
- Malaysia (83.2 tons)
- Fiji (8.2 tons)
- Australia (8.0 tons)
- Vietnam (4.5 tons)
- South Korea (3.9 tons)
- Indonesia (1.6 tons)
- Brunei Darussalam (0.9 tons)
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