Bolivia: Spice Market 2024

Spice Market Size in Bolivia

The Bolivian spice market rose significantly to $X in 2022, with an increase of X% against the previous year. Over the period under review, the total consumption indicated measured growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2020 indices. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Spice Production in Bolivia

In value terms, spice production expanded sharply to $X in 2022 estimated in export price. Overall, the total production indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2020 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

In 2022, the average spice yield in Bolivia totaled X kg per ha, growing by X% against 2021. Over the period under review, the yield, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the yield increased by X%. As a result, the yield reached the peak level of X kg per ha. From 2016 to 2022, the growth of the average spice yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The spice harvested area in Bolivia amounted to X ha in 2022, almost unchanged from 2021 figures. In general, the harvested area, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, the harvested area reached the peak level of X ha. From 2014 to 2022, the growth of the spice harvested area failed to regain momentum.

Spice Exports

Exports from Bolivia

In 2022, approx. X tons of spices were exported from Bolivia; with an increase of X% on the previous year. Overall, exports, however, continue to indicate a abrupt shrinkage. The pace of growth was the most pronounced in 2018 with an increase of X%. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, spice exports soared to $X in 2022. Over the period under review, exports, however, recorded a deep reduction. The growth pace was the most rapid in 2018 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Peru (X tons), Argentina (X tons) and the United States (X tons) were the main destinations of spice exports from Bolivia, together accounting for X% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Argentina (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Peru ($X), the United States ($X) and Spain ($X) appeared to be the largest markets for spice exported from Bolivia worldwide, together comprising X% of total exports.

The United States, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average spice export price stood at $X per ton in 2022, which is down by X% against the previous year. Over the period under review, the export price continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2018 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to Argentina ($X 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 Spain (X%), while the prices for the other major destinations experienced more modest paces of growth.

Spice Imports

Imports into Bolivia

In 2022, the amount of spices imported into Bolivia amounted to X tons, surging by X% on 2021 figures. Overall, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, spice imports surged to $X in 2022. In general, imports saw prominent growth. The growth pace was the most rapid in 2016 with an increase of X%. Over the period under review, imports reached the maximum in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

In 2022, Sri Lanka (X tons) constituted the largest supplier of spice to Bolivia, accounting for a X% share of total imports. Moreover, spice imports from Sri Lanka exceeded the figures recorded by the second-largest supplier, Brazil (X tons), eightfold. India (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Sri Lanka totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (X% per year) and India (X% per year).

In value terms, Sri Lanka ($X) constituted the largest supplier of spices to Bolivia, comprising X% of total imports. The second position in the ranking was taken by the United States ($X), with a X% share of total imports. It was followed by Brazil, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Sri Lanka stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Brazil (X% per year).

Import Prices by Country

The average spice import price stood at $X per ton in 2022, increasing by X% against the previous year. Over the period under review, the import price showed a prominent increase. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Peru (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform