New Zealand: Poppy Seed Market 2024

Poppy Seed Market Size in New Zealand

The New Zealand poppy seed market contracted remarkably to $X in 2022, dropping by -24.4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -42.7% against 2019 indices. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Poppy Seed Exports

Exports from New Zealand

For the third consecutive year, New Zealand recorded growth in overseas shipments of poppy seed, which increased by 6.4% to X tons in 2022. Over the period under review, exports saw a remarkable increase. The most prominent rate of growth was recorded in 2018 when exports increased by 2,911%. The exports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, poppy seed exports skyrocketed to $X in 2022. Overall, exports saw a resilient increase. The pace of growth appeared the most rapid in 2018 with an increase of 719%. The exports peaked in 2022 and are likely to continue growth in years to come.

Exports by Country

Vanuatu (X tons) was the main destination for poppy seed exports from New Zealand, with a 95% share of total exports. It was followed by Cook Islands (X kg), with a 2.9% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Vanuatu stood at +154.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cook Islands (+12.4% per year) and French Polynesia (-41.7% per year).

In value terms, Vanuatu ($X) remains the key foreign market for poppy seed exports from New Zealand, comprising 96% of total exports. The second position in the ranking was taken by Cook Islands ($X), with a 1.7% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Vanuatu totaled +142.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cook Islands (+6.6% per year) and French Polynesia (-39.0% per year).

Export Prices by Country

In 2022, the average poppy seed export price amounted to $X per ton, rising by 60% against the previous year. In general, the export price posted a resilient increase. The most prominent rate of growth was recorded in 2017 an increase of 157%. As a result, the export price attained the peak level of $X per ton. From 2018 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vanuatu ($X per ton), while the average price for exports to French Polynesia ($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 Solomon Islands (+12.8%), while the prices for the other major destinations experienced more modest paces of growth.

Poppy Seed Imports

Imports into New Zealand

In 2022, the amount of poppy seed imported into New Zealand declined markedly to X tons, with a decrease of -16.5% on the previous year's figure. Over the period under review, total imports indicated modest growth from 2012 to 2022: its volume increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +18.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 42%. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, poppy seed imports reduced rapidly to $X in 2022. Overall, imports, however, showed a measured increase. The most prominent rate of growth was recorded in 2019 with an increase of 77%. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Spain (X tons) constituted the largest supplier of poppy seed to New Zealand, accounting for a 66% share of total imports. Moreover, poppy seed imports from Spain exceeded the figures recorded by the second-largest supplier, Australia (X tons), twofold.

From 2012 to 2022, the average annual growth rate of volume from Spain stood at +19.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (-7.1% per year) and Turkey (+6.6% per year).

In value terms, the largest poppy seed suppliers to New Zealand were Spain ($X), Australia ($X) and Turkey ($X), together comprising 98% of total imports.

In terms of the main suppliers, Spain, with a CAGR of +27.7%, 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 mixed trend patterns.

Import Prices by Country

The average poppy seed import price stood at $X per ton in 2022, shrinking by -12.4% against the previous year. Overall, import price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, poppy seed import price decreased by -30.1% against 2020 indices. The pace of growth was the most pronounced in 2019 an increase of 48% against the previous year. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Australia ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+7.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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