New Zealand: Spice Market 2024

Spice Market Size in New Zealand

After two years of growth, the New Zealand spice market decreased by X% to $X in 2022. Over the period under review, the total consumption indicated noticeable growth from 2012 to 2022: its value 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, consumption increased by X% against 2019 indices. Spice consumption peaked at $X in 2021, and then declined rapidly in the following year.

Spice Production in New Zealand

In value terms, spice production stood at $X in 2022 estimated in export price. Over the period under review, production saw a significant expansion. The pace of growth appeared the most rapid in 2021 when the production volume decreased by X% against the previous year. Over the period under review, production reached the peak level in 2022 and is likely to see steady growth in the near future.

The average yield of spices in New Zealand amounted to less than X kg per ha in 2022, therefore, remained relatively stable against 2021 figures. In general, the yield saw a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the spice harvested area in New Zealand was estimated at less than X ha, therefore, remained relatively stable against the previous year's figure. In general, the harvested area continues to indicate a relatively flat trend pattern.

Spice Exports

Exports from New Zealand

After four years of growth, overseas shipments of spices decreased by X% to X tons in 2022. In general, total exports indicated tangible growth from 2012 to 2022: its volume 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. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2021, and then contracted significantly in the following year.

In value terms, spice exports reduced notably to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2016 when exports increased by X%. The exports peaked at $X in 2021, and then declined sharply in the following year.

Exports by Country

Thailand (X tons), Australia (X tons) and Fiji (X tons) were the main destinations of spice exports from New Zealand, with a combined X% share of total exports.

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

In value terms, the largest markets for spice exported from New Zealand were the United States ($X), Australia ($X) and Fiji ($X), with a combined X% share of total exports.

Among the main countries of destination, the United States, 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

In 2022, the average spice export price amounted to $X per ton, therefore, remained relatively stable against the previous year. Over the period under review, the export price saw a noticeable shrinkage. The most prominent rate of growth was recorded in 2015 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2016 to 2022, the average export prices remained at a lower figure.

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

Spice Imports

Imports into New Zealand

In 2022, after five years of growth, there was significant decline in overseas purchases of spices, when their volume decreased by X% to X tons. Over the period under review, total imports indicated a tangible expansion from 2012 to 2022: its volume 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. The pace of growth was the most pronounced in 2017 when imports increased by X% against the previous year. Imports peaked at X tons in 2021, and then dropped sharply in the following year.

In value terms, spice imports fell to $X in 2022. Overall, total imports indicated buoyant growth from 2012 to 2022: its value 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, imports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then fell in the following year.

Imports by Country

India (X tons), Thailand (X tons) and China (X tons) were the main suppliers of spice imports to New Zealand, together accounting for X% of total imports. Vietnam, Australia, Spain, Fiji and Malaysia lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest spice suppliers to New Zealand were India ($X), Vietnam ($X) and Australia ($X), together comprising X% of total imports. China, Thailand, Spain, Malaysia and Fiji lagged somewhat behind, together accounting for a further X%.

Spain, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers 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, picking up by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2015 an increase of X%. As a result, import price reached the peak level of $X per ton. From 2016 to 2022, the average import prices remained at a somewhat lower figure.

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 Malaysia ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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