CIS: Spice Market 2024

Spice Market Size in CIS

The CIS spice market expanded rapidly to $X in 2022, growing by X% against the previous year. Overall, consumption continues to indicate prominent growth. The level of consumption peaked in 2022 and is expected to retain growth in the immediate term.

Spice Production in CIS

In value terms, spice production declined markedly to $X in 2022 estimated in export price. Over the period under review, production recorded a strong expansion. The growth pace was the most rapid in 2019 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Russia (X tons) remains the largest spice producing country in the CIS, accounting for X% of total volume. Moreover, spice production in Russia exceeded the figures recorded by the second-largest producer, Uzbekistan (X tons), tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume in Russia totaled X%. The remaining producing countries recorded the following average annual rates of production growth: Uzbekistan (X% per year) and Tajikistan (X% per year).

The average spice yield soared to X tons per ha in 2022, jumping by X% against 2021. Overall, the yield, however, saw a drastic downturn. The level of yield peaked at X tons per ha in 2015; however, from 2016 to 2022, the 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.

In 2022, the spice harvested area in the CIS dropped to X ha, shrinking by X% against 2021 figures. Over the period under review, the harvested area, however, enjoyed significant growth. The pace of growth appeared the most rapid in 2019 with an increase of X%. Over the period under review, the harvested area dedicated to spice production attained the maximum at X ha in 2021, and then declined in the following year.

Spice Exports

Exports in CIS

In 2022, the amount of spices exported in the CIS declined slightly to X tons, falling by X% against 2021. Overall, exports, however, posted significant growth. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, spice exports dropped markedly to $X in 2022. Over the period under review, exports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2019 when exports increased by X%. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Russia represented the largest exporting country with an export of about X tons, which resulted at X% of total exports. It was distantly followed by Uzbekistan (X tons), making up a X% share of total exports.

Russia was also the fastest-growing in terms of the spices exports, with a CAGR of X% from 2012 to 2022. At the same time, Uzbekistan (X%) displayed positive paces of growth. While the share of Russia (X p.p.) and Uzbekistan (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) remains the largest spice supplier in the CIS, comprising X% of total exports. The second position in the ranking was held by Uzbekistan ($X), with an X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Russia totaled X%.

Export Prices by Country

In 2022, the export price in the CIS amounted to $X per ton, reducing by X% against the previous year. Overall, the export price showed a abrupt slump. The growth pace was the most rapid in 2019 when the export price increased by X%. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Uzbekistan ($X per ton), while Russia totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (X%).

Spice Imports

Imports in CIS

For the eighth year in a row, the CIS recorded growth in supplies from abroad of spices, which increased by X% to X tons in 2022. Over the period under review, imports recorded prominent growth. The growth pace was the most rapid in 2016 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the near future.

In value terms, spice imports shrank to $X in 2022. Total imports indicated notable 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. The most prominent rate of growth was recorded in 2016 when imports increased by X%. Over the period under review, imports reached the peak figure at $X in 2021, and then reduced in the following year.

Imports by Country

Russia was the main importer of spices in the CIS, with the volume of imports accounting for X tons, which was near X% of total imports in 2022. It was distantly followed by Kazakhstan (X tons) and Uzbekistan (X tons), together comprising a X% share of total imports. The following importers - Kyrgyzstan (X tons) and Azerbaijan (X tons) - each resulted at a X% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to spice imports into Russia stood at X%. At the same time, Uzbekistan (X%), Kyrgyzstan (X%), Azerbaijan (X%) and Kazakhstan (X%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing importer imported in the CIS, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Uzbekistan, Kyrgyzstan, Kazakhstan and Azerbaijan increased by X, X, X and X percentage points, respectively.

In value terms, Russia ($X) constitutes the largest market for imported spices in the CIS, comprising X% of total imports. The second position in the ranking was taken by Kazakhstan ($X), with an X% share of total imports. It was followed by Azerbaijan, with a X% share.

In Russia, spice imports expanded at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Kazakhstan (X% per year) and Azerbaijan (X% per year).

Import Prices by Country

In 2022, the import price in the CIS amounted to $X per ton, with a decrease of X% against the previous year. Overall, the import price recorded a pronounced decrease. The pace of growth appeared the most rapid in 2021 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Azerbaijan ($X per ton), while Uzbekistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Azerbaijan (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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