The data on global spices residuals for 2023 indicates a notable concentration in Nigeria, which stands out with a positive value of 709.0 thousand metric tons, showing an 8.62% increase. In contrast, other countries show negative residuals, signifying potential undersupply or high consumption. Key decreases include Ukraine, Italy, and Brazil, with Myanmar reflecting the most significant deficit at -50.0 thousand metric tons. The rest of the countries maintained stable or zero changes in residuals from the previous year.
Future trends to watch include the potential for increased production in Nigerian market, as it continues to showcase positive growth. Monitoring the impact of negative residuals on market supply-demand dynamics in countries like Myanmar and Italy will be critical. These trends could influence global pricing and trade patterns for spices.
Top countries in Spices Residuals by Country
| # | 10 Countries | Thousand Metric Tons | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Nigeria | 709 | 2023 | +5.66% | +8.62% | View data |
| 2 | 2 Mali | 9 | 2023 | -10% | -2.09% | View data |
| 3 | 3 Fiji | -1 | 2023 | 0% | View data | |
| 4 | 4 Togo | -1 | 2023 | 0% | View data | |
| 5 | 5 Tanzania | -1 | 2023 | -100% | View data | |
| 6 | 6 Ghana | -1 | 2023 | 0% | View data | |
| 7 | 7 Moldova | -1 | 2023 | 0% | View data | |
| 8 | 8 Thailand | -1 | 2023 | 0% | View data | |
| 9 | 9 Netherlands | -1 | 2023 | -100% | View data | |
| 10 | 10 Lithuania | -1 | 2023 | 0% | View data |
