Key Market Indicators
Russian spice consumption is projected to decline slightly, reaching approximately 31,000 metric tons by 2028 from around 32,000 metric tons in 2023. This represents an annual decrease of 0.4%. Despite this decline, Russian demand for spices has seen a modest increase of 0.6% annually since 2019. In the global ranking for 2023, Russia stood at the 28th position, with Algeria surpassing it at 32,000 metric tons. Bangladesh, Indonesia, and Thailand claimed the second, third, and fourth places respectively. In contrast, Russian spice production is expected to experience a more significant downturn. By 2028, production is anticipated to fall to roughly 8,000 metric tons from 17,000 metric tons in 2023, an average annual decrease of 11.8%. However, from 2019, Russian spice production had been on an upward trend, increasing by 11.2% each year. In the 2023 global production rankings, Russia held the 36th position, with Afghanistan leading at 17,000 metric tons. China, Nigeria, and Indonesia followed closely, occupying the second, third, and fourth spots respectively.
