Brazil: Spice Market 2024

Spice Market Size in Brazil

The Brazilian spice market was finally on the rise to reach $X in 2022, after three years of decline. Over the period under review, consumption, however, saw a relatively flat trend pattern. Spice consumption peaked at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Spice Production in Brazil

In value terms, spice production totaled $X in 2022 estimated in export price. Overall, production saw a slight shrinkage. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

The average yield of spices in Brazil reduced slightly to X tons per ha in 2022, approximately reflecting 2021. In general, the yield continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The spice yield peaked at X tons per ha in 2013; however, from 2014 to 2022, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of spices production in Brazil dropped slightly to X ha, leveling off at 2021. Over the period under review, the harvested area, however, posted a prominent increase. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, the harvested area dedicated to spice production reached the peak figure at X ha in 2021, and then contracted modestly in the following year.

Spice Exports

Exports from Brazil

In 2022, after five years of growth, there was significant decline in shipments abroad of spices, when their volume decreased by X% to X tons. Overall, exports, however, saw a strong expansion. The pace of growth was the most pronounced in 2017 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2021, and then dropped in the following year.

In value terms, spice exports contracted slightly to $X in 2022. In general, total exports indicated resilient 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, exports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2014 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2021, and then dropped modestly in the following year.

Exports by Country

The Netherlands (X tons), Vietnam (X tons) and the United States (X tons) were the main destinations of spice exports from Brazil, with a combined X% share of total exports. The United Arab Emirates, Germany, Egypt, Morocco, India, Pakistan, Argentina, Senegal, Mexico and Turkey lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Morocco (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X) emerged as the key foreign market for spices exports from Brazil, comprising X% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total exports. It was followed by Germany, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Vietnam totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Germany (X% per year).

Export Prices by Country

The average spice export price stood at $X per ton in 2022, rising by X% against the previous year. Overall, the export price, however, saw a abrupt decrease. The pace of growth appeared the most rapid in 2021 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Morocco ($X per ton), while the average price for exports to the Netherlands ($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 Germany (X%), while the prices for the other major destinations experienced a decline.

Spice Imports

Imports into Brazil

Spice imports into Brazil rose remarkably to X tons in 2022, picking up by X% compared with the year before. Over the period under review, total imports indicated strong growth from 2012 to 2022: its volume 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, imports decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2020 with an increase of X%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, spice imports soared to $X in 2022. Overall, total imports indicated a buoyant 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, imports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the near future.

Imports by Country

In 2022, India (X tons) constituted the largest spice supplier to Brazil, accounting for a X% share of total imports. Moreover, spice imports from India exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The third position in this ranking was held by Vietnam (X tons), with a X% share.

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

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

From 2012 to 2022, the average annual rate of growth in terms of value from India stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Vietnam (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. Overall, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average import price increased by X%. The import price peaked in 2022 and is likely to see gradual growth in the immediate term.

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 Indonesia ($X per ton), while the price for Argentina ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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