Price for Spices; Vanilla, Crushed or Ground in Singapore - 2022
Contents:
- Price for Spices; Vanilla, Crushed or Ground in Singapore (CIF) - 2022
- Price for Spices; Vanilla, Crushed or Ground in Singapore (FOB) - 2022
- Imports of Spices; Vanilla, Crushed or Ground in Singapore
- Exports of Spices; Vanilla, Crushed or Ground in Singapore
Price for Spices; Vanilla, Crushed or Ground in Singapore (CIF) - 2022
The average import price for spices; vanilla, crushed or ground stood at $13,554 per ton in 2022, with an increase of 236% against the previous year. Over the period under review, the import price recorded a strong increase. The import price peaked at $19,913 per ton in 2017; however, from 2018 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 New Caledonia ($44,788 per ton), while the price for Turkey ($739 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Caledonia (+24.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Spices; Vanilla, Crushed or Ground in Singapore (FOB) - 2022
In 2022, the average export price for spices; vanilla, crushed or ground amounted to $131,628 per ton, growing by 124% against the previous year. Overall, the export price recorded significant growth. The pace of growth was the most pronounced in 2018 when the average export price increased by 415%. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in the near future.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Morocco ($231,500 per ton), while the average price for exports to Malaysia ($1,000 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 China (+28.7%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Spices; Vanilla, Crushed or Ground in Singapore
In 2022, overseas purchases of spices; vanilla, crushed or ground decreased by -65.1% to 13 tons, falling for the second year in a row after two years of growth. In general, imports recorded a sharp reduction. The most prominent rate of growth was recorded in 2020 when imports increased by 8.6% against the previous year. As a result, imports reached the peak of 44 tons. From 2021 to 2022, the growth of imports remained at a lower figure.
In value terms, spices; vanilla, crushed or ground imports soared to $171K in 2022. The total import value increased at an average annual rate of +5.1% from 2019 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Spices; Vanilla, Crushed or Ground in Singapore (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | N/A | N/A | N/A | 108 | 0% |
| New Caledonia | 0.6 | N/A | 54.7 | 26.2 | 252.1% |
| United States | 10.2 | 28.8 | 12.5 | 8.1 | -7.4% |
| Malaysia | 5.6 | 8.7 | 7.5 | 6.4 | 4.6% |
| Indonesia | 26.3 | 35.0 | 34.7 | 5.5 | -40.6% |
| Turkey | N/A | N/A | N/A | 1.2 | 0% |
| China | 10.4 | N/A | N/A | 0.1 | -78.7% |
| Thailand | 33.2 | 30.2 | 9.7 | N/A | -45.9% |
| Others | 60.9 | 64.2 | 26.6 | 15.4 | -36.8% |
| Total | 147 | 167 | 146 | 171 | 5.2% |
Top Suppliers of Spices; Vanilla, Crushed or Ground to Singapore in 2022:
- China (undefined tons)
- Indonesia (4.4 tons)
- Japan (4.0 tons)
- Turkey (1.6 tons)
- Malaysia (1.5 tons)
- New Caledonia (0.6 tons)
- United States (0.3 tons)
Exports of Spices; Vanilla, Crushed or Ground in Singapore
After three years of growth, shipments abroad of spices; vanilla, crushed or ground decreased by -96.7% to 43 kg in 2022. Over the period under review, exports faced a dramatic decline. The growth pace was the most rapid in 2020 when exports increased by 26%.
In value terms, spices; vanilla, crushed or ground exports contracted rapidly to $5.7K in 2022. In general, exports showed a slight decrease. The most prominent rate of growth was recorded in 2021 when exports increased by 471% against the previous year. As a result, the exports attained the peak of $76K, and then fell rapidly in the following year.
| Export of Spices; Vanilla, Crushed or Ground in Singapore (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Morocco | N/A | 4.5 | N/A | 3.7 | -9.3% |
| Bangladesh | N/A | N/A | N/A | 1.3 | 0% |
| France | N/A | N/A | N/A | 0.6 | 0% |
| Hong Kong SAR | 1.2 | 3.4 | N/A | N/A | 183.3% |
| New Zealand | 0.7 | N/A | N/A | N/A | 0% |
| Australia | N/A | 3.8 | N/A | N/A | 0% |
| United States | 0.7 | N/A | 52.0 | N/A | 761.9% |
| Malaysia | N/A | 0.2 | 5.6 | N/A | 2700.0% |
| Maldives | 0.9 | N/A | 2.0 | N/A | 49.1% |
| Others | 2.4 | 1.5 | 16.7 | N/A | 163.8% |
| Total | 5.9 | 13.4 | 76.3 | 5.7 | -1.1% |
Top Export Markets for Spices; Vanilla, Crushed or Ground from Singapore in 2022:
- Bangladesh (22.0 kg)
- Morocco (16.0 kg)
- France (4.0 kg)
- Malaysia (1.0 kg)
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This report provides an in-depth analysis of the vanilla market in Singapore.
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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 Singapore.
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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
