CIS: Spinach Market 2024

Spinach Market Size in CIS

The CIS spinach market fell notably to $X in 2022, which is down by -53.4% against the previous year. Overall, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Spinach Production in CIS

In value terms, spinach production declined slightly to $X in 2022 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the production volume increased by 37%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Belarus (X tons) constituted the country with the largest volume of spinach production, accounting for 69% of total volume. Moreover, spinach production in Belarus exceeded the figures recorded by the second-largest producer, Azerbaijan (X tons), threefold. The third position in this ranking was held by Uzbekistan (X tons), with a 2.3% share.

From 2012 to 2022, the average annual growth rate of volume in Belarus was relatively modest. The remaining producing countries recorded the following average annual rates of production growth: Azerbaijan (+0.8% per year) and Uzbekistan (+25.3% per year).

Spinach Exports

Exports in CIS

Spinach exports reduced dramatically to X tons in 2022, with a decrease of -38% on 2021 figures. Overall, exports, however, enjoyed a significant increase. The growth pace was the most rapid in 2018 with an increase of 164%. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports failed to regain momentum.

In value terms, spinach exports fell sharply to $X in 2022. In general, exports, however, saw a significant increase. The most prominent rate of growth was recorded in 2017 when exports increased by 178%. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Azerbaijan represented the main exporter of spinach in the CIS, with the volume of exports accounting for X tons, which was approx. 74% of total exports in 2022. It was distantly followed by Belarus (X tons) and Uzbekistan (X tons), together making up a 24% share of total exports.

Azerbaijan was also the fastest-growing in terms of the spinach exports, with a CAGR of +19.8% from 2012 to 2022. At the same time, Belarus (+12.5%) and Uzbekistan (+2.7%) displayed positive paces of growth. Belarus (+16 p.p.) and Uzbekistan (+8.2 p.p.) significantly strengthened its position in terms of the total exports, while Azerbaijan saw its share reduced by -25.6% from 2012 to 2022, respectively.

In value terms, Azerbaijan ($X) remains the largest spinach supplier in the CIS, comprising 70% of total exports. The second position in the ranking was held by Uzbekistan ($X), with an 18% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Azerbaijan totaled +17.9%. In the other countries, the average annual rates were as follows: Uzbekistan (+28.7% per year) and Belarus (+21.0% per year).

Export Prices by Country

The export price in the CIS stood at $X per ton in 2022, growing by 20% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 44%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Uzbekistan ($X per ton), while Belarus ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (+25.3%), while the other leaders experienced mixed trends in the export price figures.

Spinach Imports

Imports in CIS

In 2022, the amount of spinach imported in the CIS fell rapidly to X tons, waning by -78.8% on 2021. In general, imports saw a deep setback. The growth pace was the most rapid in 2018 when imports increased by 64%. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, spinach imports declined remarkably to $X in 2022. Over the period under review, imports continue to indicate a pronounced decrease. The pace of growth appeared the most rapid in 2018 when imports increased by 56% against the previous year. The level of import peaked at $X in 2021, and then shrank significantly in the following year.

Imports by Country

In 2022, Russia (X tons) represented the key importer of spinach, committing 44% of total imports. It was distantly followed by Belarus (X tons), Kazakhstan (X tons), Moldova (X tons) and Kyrgyzstan (X tons), together constituting a 56% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to spinach imports into Russia stood at -12.8%. At the same time, Belarus (+51.7%), Moldova (+35.6%), Kyrgyzstan (+16.1%) and Kazakhstan (+14.0%) displayed positive paces of growth. Moreover, Belarus emerged as the fastest-growing importer imported in the CIS, with a CAGR of +51.7% from 2012-2022. Belarus (+20 p.p.), Kazakhstan (+13 p.p.), Moldova (+12 p.p.) and Kyrgyzstan (+6.7 p.p.) significantly strengthened its position in terms of the total imports, while Russia saw its share reduced by -53.1% from 2012 to 2022, respectively.

In value terms, the largest spinach importing markets in the CIS were Russia ($X), Moldova ($X) and Kazakhstan ($X), with a combined 88% share of total imports. Belarus and Kyrgyzstan lagged somewhat behind, together accounting for a further 12%.

Among the main importing countries, Belarus, with a CAGR of +41.0%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in the CIS stood at $X per ton in 2022, with an increase of 6% against the previous year. Over the period under review, the import price saw a perceptible increase. The most prominent rate of growth was recorded in 2020 an increase of 65% against the previous year. Over the period under review, import prices hit record highs in 2022 and is likely to see steady growth in the immediate term.

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 Moldova ($X per ton), while Belarus ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kyrgyzstan (+10.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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