Greece: Pyrethrum And Peppermint Market 2024

Pyrethrum And Peppermint Market Size in Greece

In 2021, after two years of growth, there was significant decline in the Greek pyrethrum and peppermint market, when its value decreased by -27.8% to $X. Over the period under review, consumption showed a deep reduction. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Pyrethrum And Peppermint Production in Greece

In value terms, pyrethrum and peppermint production dropped rapidly to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a abrupt downturn. The growth pace was the most rapid in 2020 when the production volume increased by 67%. Over the period under review, production attained the maximum level at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Pyrethrum And Peppermint Exports

Exports from Greece

In 2021, shipments abroad of pyrethrum and peppermint increased by 38% to X tons, rising for the seventh consecutive year after two years of decline. Over the period under review, exports posted strong growth. The pace of growth was the most pronounced in 2017 with an increase of 56%. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, pyrethrum and peppermint exports skyrocketed to $X in 2021. Overall, exports showed a buoyant expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 63%. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Germany (X tons), Turkey (X tons) and the United States (X tons) were the main destinations of pyrethrum and peppermint exports from Greece, with a combined 50% share of total exports. Poland, France, Australia, Canada, the Netherlands, Italy, the UK, Cyprus, Austria and Morocco lagged somewhat behind, together accounting for a further 43%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Poland (with a CAGR of +109.2%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for pyrethrum and peppermint exported from Greece were Germany ($X), the United States ($X) and Turkey ($X), with a combined 46% share of total exports. These countries were followed by France, Poland, Australia, the Netherlands, Canada, Cyprus, Morocco, Italy, the UK and Austria, which together accounted for a further 42%.

The Netherlands, with a CAGR of +85.4%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average pyrethrum and peppermint export price amounted to $X per ton, shrinking by -3.4% against the previous year. Over the last nine years, it increased at an average annual rate of +2.5%. The pace of growth appeared the most rapid in 2013 an increase of 41%. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Morocco ($X per ton), while the average price for exports to Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+9.2%), while the prices for the other major destinations experienced more modest paces of growth.

Pyrethrum And Peppermint Imports

Imports into Greece

In 2021, purchases abroad of pyrethrum and peppermint increased by 27% to X tons, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +3.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, pyrethrum and peppermint imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +3.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 with an increase of 34% against the previous year. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in years to come.

Imports by Country

Egypt (X tons), Albania (X tons) and Turkey (X tons) were the main suppliers of pyrethrum and peppermint imports to Greece, together accounting for 63% of total imports. These countries were followed by Germany, India, Poland, Morocco, Italy, Afghanistan, Latvia and Bulgaria, which together accounted for a further 32%.

From 2012 to 2021, the biggest increases were in Latvia (with a CAGR of +2,479.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest pyrethrum and peppermint suppliers to Greece were Albania ($X), Germany ($X) and Poland ($X), together accounting for 47% of total imports. These countries were followed by Egypt, Italy, Turkey, Morocco, India, Latvia, Afghanistan and Bulgaria, which together accounted for a further 36%.

Among the main suppliers, Latvia, with a CAGR of +3,499.4%, saw 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 pyrethrum and peppermint import price stood at $X per ton in 2021, falling by -6.6% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 20%. The import price peaked at $X per ton in 2020, and then dropped in the following year.

Prices varied noticeably country of origin: the country with the highest price was Poland ($X per ton), while the price for Afghanistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Latvia (+39.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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