Trends in individual world markets

Trends in individual world markets

       
  • In general, there has been an increase in the value of world imports of various spices. However, the rate of increase has varied across countries and from spice to spice. Of all the markets, FR Germany, Japan, Netherlands, United Kingdom, Singapore and certain Middle Eastern countries, particularly Saudi Arabia, have registered impressive growth rates. Also, in the USA, the largest importer of spices, has shown is a moderate increase in imports of spices. The 1998 import of spices by European Union (15 countries) amounted to about 250,987 tonnes valued at US $ (000)794,907. Other countries such as Poland, the Russian Federation and Switzerland together imported about 65,309 tonnes of spices valued at US $ 21,900. Germany continues to be the largest single market in Europe, accounting for one-third of the total imports of spices into Western European countries.
  • Next comes Netherlands and United Kingdom, Sweden and Finland, after the Middle East. The United States is the World's largest single market for spices. Imports of spices (excluding spice herbs, mustard and sesame seeds) into this country were 1,72,421 tonnes in 1998 valued at US $ (000) 4,78,455. The Canadian market for spices is relatively small, i.e., 52,155 tonnes valued at US $ 20,673 in 1998. In the Asian and Pacific Region, the major consumer of spices is Japan, the third largest world market, followed, at some distance, by Singapore and Malaysia. Japan imported 124,632 tonnes of spices, valued at UD $ (000) 18569 in 1998. Although domestic consumption of spices in Hong Kong and Singapore is very small, the importance of Singapore in the export trade in spices is still of considerable significance.
  • It is estimated that from 20-25% of the total pepper entering the international trade, is being handled by the Singapore. This can be attributed to the excellent communication, finance and shipping facilities available in Singapore. The other factor is the ability of the exporter to provide both the quality and timely delivery that the importer requires. Although Indonesia is one of the major producers of a number of spices, yet it is also a substantial importer of cloves for the `Kretek' cigarette industry.
Last modified: Monday, 18 June 2012, 6:28 AM