Cuba: Market for Colouring Matter Of Vegetable Or Animal Origin 2024

Market Size for Colouring Matter Of Vegetable Or Animal Origin in Cuba

In 2021, the Cuban market for colouring matter of vegetable or animal origin increased by 5.5% to $X, rising for the second consecutive year after three years of decline. Overall, consumption recorded a prominent expansion. Vegetable or animal colouring matter consumption peaked at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

Production of Colouring Matter Of Vegetable Or Animal Origin in Cuba

In value terms, vegetable or animal colouring matter production dropped modestly to $X in 2021 estimated in export price. Overall, production, however, enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2015 with an increase of 59%. Vegetable or animal colouring matter production peaked at $X in 2016; however, from 2017 to 2021, production failed to regain momentum.

Exports of Colouring Matter Of Vegetable Or Animal Origin

Exports from Cuba

In 2021, overseas shipments of colouring matter of vegetable or animal origin decreased by -8.5% to X tons, falling for the fifth year in a row after two years of growth. In general, exports recorded a deep reduction. The growth pace was the most rapid in 2015 with an increase of 72% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, vegetable or animal colouring matter exports fell to $X in 2021. Over the period under review, exports recorded a abrupt descent. The most prominent rate of growth was recorded in 2015 with an increase of 118% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

Malaysia (X tons) was the main destination for vegetable or animal colouring matter exports from Cuba, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Malaysia totaled -8.5%.

In value terms, Malaysia ($X) also remains the key foreign market for colouring matter of vegetable or animal origin exports from Cuba.

From 2012 to 2021, the average annual rate of growth in terms of value to Malaysia totaled -5.8%.

Export Prices by Country

The average export price for colouring matter of vegetable or animal origin stood at $X per ton in 2021, growing by 2.9% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.9%. The pace of growth was the most pronounced in 2015 when the average export price increased by 27% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Malaysia.

From 2012 to 2021, the rate of growth in terms of prices for Malaysia amounted to +2.9% per year.

Imports of Colouring Matter Of Vegetable Or Animal Origin

Imports into Cuba

In 2021, imports of colouring matter of vegetable or animal origin into Cuba surged to X tons, increasing by 1,327% against 2020 figures. Over the period under review, imports saw a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, vegetable or animal colouring matter imports soared to $X in 2021. Overall, imports posted strong growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Spain (X tons) constituted the largest supplier of vegetable or animal colouring matter to Cuba, with a 54% share of total imports. It was followed by Germany (X tons), with a 1.1% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from Spain amounted to -3.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+6.4% per year) and France (-27.7% per year).

In value terms, Spain ($X) constituted the largest supplier of colouring matter of vegetable or animal origin to Cuba, comprising 46% of total imports. The second position in the ranking was held by Germany ($X), with a 5.2% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Spain totaled +2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+12.1% per year) and France (-24.6% per year).

Import Prices by Country

In 2021, the average import price for colouring matter of vegetable or animal origin amounted to $X per ton, declining by -17.2% against the previous year. In general, import price indicated a strong expansion from 2012 to 2021: its price increased at an average annual rate of +5.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, vegetable or animal colouring matter import price increased by +35.3% against 2018 indices. The most prominent rate of growth was recorded in 2020 when the average import price increased by 29% against the previous year. As a result, import price attained the peak level of $X per ton, and then fell rapidly in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+6.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :