New Zealand: Vanilla Market 2024

Vanilla Market Size in New Zealand

In 2022, the New Zealand vanilla market was finally on the rise to reach $X after two years of decline. Over the period under review, consumption saw a perceptible slump. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Vanilla Production in New Zealand

In value terms, vanilla production amounted to less than $X in 2022 estimated in export price. Overall, production recorded a relatively flat trend pattern.

The average yield of vanilla in New Zealand stood at less than X kg per ha in 2022, remaining constant against the previous year. Overall, the yield continues to indicate 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, approx. less than X ha of vanilla were harvested in New Zealand; approximately equating the year before. In general, the harvested area saw a relatively flat trend pattern.

Vanilla Exports

Exports from New Zealand

In 2022, vanilla exports from New Zealand soared to X tons, picking up by 521% against the previous year. In general, exports saw significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, vanilla exports surged to $X in 2022. Over the period under review, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 65%. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

The United States (X tons) was the main destination for vanilla exports from New Zealand, with a 91% share of total exports. Moreover, vanilla exports to the United States exceeded the volume sent to the second major destination, Australia (X tons), more than tenfold. The UK (X kg) ranked third in terms of total exports with a 1.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to +60.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (-6.9% per year) and the UK (+11.8% per year).

In value terms, the United States ($X) remains the key foreign market for vanilla exports from New Zealand, comprising 70% of total exports. The second position in the ranking was taken by Australia ($X), with a 16% share of total exports. It was followed by the UK, with a 4.5% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to +24.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (-14.5% per year) and the UK (-1.0% per year).

Export Prices by Country

The average vanilla export price stood at $X per ton in 2022, waning by -76.5% against the previous year. Overall, the export price recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2021 when the average export price increased by 231% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to Canada ($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 Australia (-8.2%), while the prices for the other major destinations experienced a decline.

Vanilla Imports

Imports into New Zealand

After two years of decline, overseas purchases of vanilla increased by 0.1% to X tons in 2022. In general, imports, however, saw a perceptible setback. The pace of growth was the most pronounced in 2014 with an increase of 300% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, vanilla imports soared to $X in 2022. Over the period under review, imports posted a buoyant increase. The pace of growth appeared the most rapid in 2015 with an increase of 94% against the previous year. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Uganda (X tons) constituted the largest supplier of vanilla to New Zealand, accounting for a 42% share of total imports. Moreover, vanilla imports from Uganda exceeded the figures recorded by the second-largest supplier, Papua New Guinea (X tons), threefold. The third position in this ranking was held by Madagascar (X kg), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from Uganda was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Papua New Guinea (-2.0% per year) and Madagascar (+7.2% per year).

In value terms, Uganda ($X) constituted the largest supplier of vanilla to New Zealand, comprising 38% of total imports. The second position in the ranking was held by Madagascar ($X), with an 18% share of total imports. It was followed by Papua New Guinea, with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Uganda was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Madagascar (+21.6% per year) and Papua New Guinea (+15.4% per year).

Import Prices by Country

In 2022, the average vanilla import price amounted to $X per ton, picking up by 41% against the previous year. Overall, the import price showed buoyant growth. The growth pace was the most rapid in 2016 when the average import price increased by 219%. Over the period under review, average import prices reached the peak figure at $X per ton in 2017; however, from 2018 to 2022, import prices stood 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 Tonga ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+57.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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