Eastern Europe: Spice Market 2024

Spice Market Size in Eastern Europe

In 2022, the East European spice market decreased by X% to $X for the first time since 2017, thus ending a four-year rising trend. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2021, and then dropped in the following year.

Spice Production in Eastern Europe

In value terms, spice production totaled $X in 2022 estimated in export price. The total production indicated a tangible increase 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, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2019 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

The country with the largest volume of spice production was Russia (X tons), accounting for X% of total volume. Moreover, spice production in Russia exceeded the figures recorded by the second-largest producer, Romania (X tons), twofold. The third position in this ranking was taken by Hungary (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume in Russia stood at X%. The remaining producing countries recorded the following average annual rates of production growth: Romania (X% per year) and Hungary (X% per year).

In 2022, the average spice yield in Eastern Europe soared to X tons per ha, growing by X% on the year before. The yield indicated moderate growth from 2012 to 2022: its figure 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 2015 with an increase of X%. The level of yield peaked at X tons per ha in 2019; however, from 2020 to 2022, the yield failed to regain momentum. 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 Eastern Europe shrank to X ha, falling by X% against the year before. The total harvested area indicated a measured increase from 2012 to 2022: its figure 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, spice harvested area increased by X% against 2017 indices. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, the harvested area dedicated to spice production attained the maximum at X ha in 2021, and then dropped in the following year.

Spice Exports

Exports in Eastern Europe

In 2022, spice exports in Eastern Europe surged to X tons, jumping by X% against the year before. In general, exports showed prominent growth. The pace of growth appeared the most rapid in 2016 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, spice exports dropped modestly to $X in 2022. Overall, exports continue to indicate prominent growth. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. The level of export peaked at $X in 2021, and then fell slightly in the following year.

Exports by Country

Russia was the major exporting country with an export of about X tons, which amounted to X% of total exports. It was distantly followed by Bulgaria (X tons) and Poland (X tons), together making up a X% share of total exports. The following exporters - Lithuania (X tons), the Czech Republic (X tons), Ukraine (X tons), Romania (X tons), Latvia (X tons) and Hungary (X tons) - together made up X% of total exports.

Russia was also the fastest-growing in terms of the spices exports, with a CAGR of X% from 2012 to 2022. At the same time, Latvia (X%), the Czech Republic (X%), Poland (X%), Lithuania (X%) and Romania (X%) displayed positive paces of growth. Hungary experienced a relatively flat trend pattern. By contrast, Bulgaria (X%) and Ukraine (X%) illustrated a downward trend over the same period. While the share of Russia (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Lithuania (X p.p.), Hungary (X p.p.), Poland (X p.p.), Romania (X p.p.), Ukraine (X p.p.) and Bulgaria (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X), Poland ($X) and the Czech Republic ($X) were the countries with the highest levels of exports in 2022, together comprising X% of total exports.

Among the main exporting countries, Russia, with a CAGR of X%, recorded the highest growth rate of 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 export price in Eastern Europe amounted to $X per ton, with a decrease of X% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Hungary ($X per ton), while Russia ($X per ton) was amongst the lowest.

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

Spice Imports

Imports in Eastern Europe

In 2022, after six years of growth, there was significant decline in supplies from abroad of spices, when their volume decreased by X% to X tons. Total imports indicated buoyant 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. Based on 2022 figures, imports increased by X% against 2015 indices. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2021, and then contracted in the following year.

In value terms, spice imports fell 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 throughout the analyzed period. The pace of growth was the most pronounced in 2013 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2021, and then shrank in the following year.

Imports by Country

Russia (X tons) and Poland (X tons) represented roughly X% of total imports in 2022. The Czech Republic (X tons) held an X% share (based on physical terms) of total imports, which put it in second place, followed by Romania (X%), Hungary (X%) and Ukraine (X%). Bulgaria (X tons) and Latvia (X tons) followed a long way behind the leaders.

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

In value terms, Russia ($X), Poland ($X) and the Czech Republic ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising X% of total imports.

Russia, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Eastern Europe amounted to $X per ton, therefore, remained relatively stable against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the import price increased by X%. Over the period under review, import prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in the Czech Republic ($X per ton) and Poland ($X per ton), while Bulgaria ($X per ton) and Ukraine ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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