Egypt: Spice Market 2024

Spice Market Size in Egypt

In 2022, the Egyptian spice market decreased by X% to $X, falling for the second year in a row after three years of growth. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Spice Production in Egypt

In value terms, spice production soared to $X in 2022 estimated in export price. Over the period under review, production continues to indicate strong growth. The pace of growth appeared the most rapid in 2020 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

In 2022, the average yield of spices in Egypt totaled X tons per ha, standing approx. at 2021 figures. In general, the yield, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the yield increased by X%. Over the period under review, the average spice yield attained the maximum level at X tons per ha in 2012; however, from 2013 to 2022, the yield failed to regain momentum. 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 Egypt declined slightly to X ha in 2022, therefore, remained relatively stable against 2021 figures. In general, the harvested area, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. Over the period under review, the harvested area dedicated to spice production attained the peak figure at X ha in 2021, and then contracted slightly in the following year.

Spice Exports

Exports from Egypt

In 2022, after two years of decline, there was significant growth in shipments abroad of spices, when their volume increased by X% to X tons. Over the period under review, exports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, spice exports skyrocketed to $X in 2022. Overall, exports saw a buoyant increase. The most prominent rate of growth was recorded in 2015 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Morocco (X tons) was the main destination for spice exports from Egypt, accounting for a X% share of total exports. Moreover, spice exports to Morocco exceeded the volume sent to the second major destination, Bangladesh (X tons), twofold. Algeria (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Morocco totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bangladesh (X% per year) and Algeria (X% per year).

In value terms, Morocco ($X), Algeria ($X) and Bangladesh ($X) constituted the largest markets for spice exported from Egypt worldwide, with a combined X% share of total exports.

In terms of the main countries of destination, Bangladesh, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average spice export price stood at $X per ton in 2022, waning by X% against the previous year. In general, the export price, however, showed a remarkable increase. The most prominent rate of growth was recorded in 2020 an increase of X%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2021, and then shrank rapidly in the following year.

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

Spice Imports

Imports into Egypt

In 2022, purchases abroad of spices decreased by X% to X tons, falling for the third year in a row after two years of growth. Overall, imports saw a pronounced decline. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2016 to 2022, the growth of imports failed to regain momentum.

In value terms, spice imports contracted rapidly to $X in 2022. In general, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

Brazil (X tons), India (X tons) and Vietnam (X tons) were the main suppliers of spice imports to Egypt, together accounting for X% of total imports. Syrian Arab Republic, China, Guatemala, Turkey, Russia, Indonesia, Sri Lanka, Ukraine and the United Arab Emirates lagged somewhat behind, together comprising a further X%.

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

In value terms, the largest spice suppliers to Egypt were Guatemala ($X), Brazil ($X) and Vietnam ($X), with a combined X% share of total imports. India, China, Syrian Arab Republic, Turkey, Indonesia, Russia, Sri Lanka, the United Arab Emirates and Ukraine lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Syrian Arab Republic, with a CAGR of X%, recorded the highest growth rate of 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 average spice import price stood at $X per ton in 2022, with an increase of X% against the previous year. In general, import price indicated pronounced growth from 2012 to 2022: its price 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, spice import price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2020 when the average import price increased by X%. Over the period under review, average import prices hit record highs in 2022 and is likely to see steady growth in years to come.

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 Guatemala ($X per ton), while the price for Ukraine ($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 more modest paces of growth.

Source: IndexBox Platform

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