Ukraine: Spice Market 2024

Spice Market Size in Ukraine

In 2022, after two years of growth, there was significant decline in the Ukrainian spice market, when its value decreased by X% to $X. Over the period under review, consumption showed a slight decline. Spice consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Spice Production in Ukraine

In value terms, spice production soared to $X in 2022 estimated in export price. Overall, production showed a deep contraction. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

The average yield of spices in Ukraine declined significantly to X tons per ha in 2022, with a decrease of X% compared with the previous year's figure. Overall, the yield, however, showed prominent growth. The pace of growth appeared the most rapid in 2014 with an increase of X%. Over the period under review, the average spice yield reached the maximum level at X tons per ha in 2018; however, from 2019 to 2022, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of spices production in Ukraine shrank to X ha, with a decrease of X% against the previous year's figure. In general, the harvested area recorded a abrupt decline. The growth pace was the most rapid in 2020 when the harvested area increased by X%. Over the period under review, the harvested area dedicated to spice production reached the peak figure at X ha in 2012; however, from 2013 to 2022, the harvested area stood at a somewhat lower figure.

Spice Exports

Exports from Ukraine

In 2022, after two years of growth, there was significant decline in overseas shipments of spices, when their volume decreased by X% to X tons. In general, exports continue to indicate a abrupt setback. The growth pace was the most rapid in 2016 with an increase of X%. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, spice exports fell markedly to $X in 2022. Overall, exports continue to indicate a perceptible curtailment. The most prominent rate of growth was recorded in 2020 when exports increased by X%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Turkey (X tons), Germany (X tons) and Indonesia (X tons) were the main destinations of spice exports from Ukraine, with a combined X% share of total exports. Sri Lanka, Poland, Saudi Arabia, India, the Czech Republic, Romania, Yemen, Thailand and the UK lagged somewhat behind, together accounting for a further X%.

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

In value terms, Germany ($X) emerged as the key foreign market for spices exports from Ukraine, comprising X% of total exports. The second position in the ranking was held by Turkey ($X), with a X% share of total exports. It was followed by Poland, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (X% per year) and Poland (X% per year).

Export Prices by Country

The average spice export price stood at $X per ton in 2022, growing by X% against the previous year. Overall, the export price saw a buoyant increase. The pace of growth was the most pronounced in 2020 an increase of X% against the previous year. The export price peaked in 2022 and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Saudi Arabia ($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 Thailand (X%), while the prices for the other major destinations experienced more modest paces of growth.

Spice Imports

Imports into Ukraine

In 2022, imports of spices into Ukraine plummeted to X tons, declining by X% compared with 2021 figures. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, spice imports shrank to $X in 2022. Overall, imports saw a noticeable decrease. The pace of growth appeared the most rapid in 2020 when imports increased by X%. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Vietnam (X tons) and Brazil (X tons) were the main suppliers of spice imports to Ukraine, together comprising X% of total imports. India, Georgia, Spain, Uzbekistan, Sri Lanka, Mexico, Turkey, Finland and Indonesia 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 Sri Lanka (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 Ukraine were Vietnam ($X), China ($X) and Brazil ($X), together comprising X% of total imports. India, Mexico, Spain, Georgia, Turkey, Indonesia, Uzbekistan, Sri Lanka and Finland lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, Sri Lanka, with a CAGR of X%, 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 spice import price stood at $X per ton in 2022, with an increase of X% against the previous year. Overall, the import price, however, continues to indicate a noticeable decrease. The pace of growth was the most pronounced in 2021 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :