Paraguay: Spice Market 2024

Spice Market Size in Paraguay

The Paraguayan spice market skyrocketed to $X in 2022, with an increase of X% against the previous year. Overall, the total consumption 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, consumption decreased by X% against 2020 indices. Spice consumption peaked at $X in 2020; afterwards, it flattened through to 2022.

Spice Production in Paraguay

In value terms, spice production totaled $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a sharp slump. The most prominent rate of growth was recorded in 2014 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

The average yield of spices in Paraguay stood at less than X kg per ha in 2022, stabilizing at the previous year's figure. Overall, the yield showed 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.

The spice harvested area in Paraguay totaled less than X ha in 2022, approximately equating the previous year's figure. In general, the harvested area recorded a relatively flat trend pattern.

Spice Exports

Exports from Paraguay

In 2022, exports of spices from Paraguay soared to X tons, picking up by X% on the year before. Over the period under review, exports posted measured growth. The most prominent rate of growth was recorded in 2014 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, spice exports skyrocketed to $X in 2022. Overall, exports, however, saw a noticeable slump. The most prominent rate of growth was recorded in 2014 when exports increased by X%. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The UK (X tons), Brazil (X tons) and Spain (X tons) were the main destinations of spice exports from Paraguay, with a combined X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Brazil (with a CAGR of X%), while the other leaders experienced mixed trend patterns.

In value terms, the UK ($X), Spain ($X) and Brazil ($X) constituted the largest markets for spice exported from Paraguay worldwide, with a combined X% share of total exports.

Brazil, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average spice export price amounted to $X per ton, with a decrease of X% against the previous year. In general, the export price saw a abrupt slump. The pace of growth appeared the most rapid in 2017 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2018 to 2022, the average export prices failed to regain momentum.

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

Spice Imports

Imports into Paraguay

In 2022, approx. X tons of spices were imported into Paraguay; rising by X% compared with 2021. In general, total imports indicated a resilient increase 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. Based on 2022 figures, imports decreased by X% against 2020 indices. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, spice imports soared to $X in 2022. The total import 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. Imports peaked at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Spain (X tons) constituted the largest spice supplier to Paraguay, accounting for a X% share of total imports. Moreover, spice imports from Spain exceeded the figures recorded by the second-largest supplier, Egypt (X tons), twofold. The third position in this ranking was taken by India (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Spain stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (X% per year) and India (X% per year).

In value terms, Spain ($X), Egypt ($X) and India ($X) constituted the largest spice suppliers to Paraguay, together comprising X% of total imports.

Egypt, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average spice import price amounted to $X per ton, standing approx. at the previous year. Overall, the import price continues to indicate a pronounced curtailment. The most prominent rate of growth was recorded in 2017 an increase of X%. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for India ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform