Spice Market in Pakistan
In value terms, spice production reduced notably to $ in estimated in export price. In general, production, however, saw a buoyant expansion. The pace of growth appeared the most rapid in 2008 with an increase of % against the previous year. Spice production peaked at $ in , and then dropped sharply in the following year.
In , the average yield of spices in Pakistan dropped to tons per ha, waning by -% on the previous year's figure. The yield figure increased at an average annual rate of +% from 2007 to ; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in with an increase of % against the previous year. As a result, the yield reached the peak level of tons per ha, and then fell in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.
In , the harvested area of spices in Pakistan shrank modestly to ha, approximately mirroring the year before. Overall, the harvested area recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2008 with an increase of %. As a result, the harvested area reached the peak level of ha. From 2009 to , the growth of the spice harvested area remained at a somewhat lower figure.
The size of the spice market in Pakistan totaled $ in , with an increase of % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated a strong expansion from 2007 to : its value increased at an average annual rate of +% over the last fifteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption decreased by -% against indices. Spice consumption peaked at $ in ; however, from to , consumption failed to regain momentum.
From 2007 to , the biggest increases were recorded for anise, badian, fennel and coriander (with a CAGR of +%), while consumption for the other products experienced more modest paces of growth.
In value terms, pimenta pepper ($), spices except pepper or ginger ($) and ginger ($) were the products with the highest levels of market value in , with a combined % share of the total market. Nutmeg, mace and cardamoms, piper pepper, anise, badian, fennel and coriander, cinnamon (canella), cloves and vanilla lagged somewhat behind, together accounting for a further %.
Among the main consumed products, anise, badian, fennel and coriander, with a CAGR of +%, recorded the highest rates of growth with regard to market size over the period under review, while market for the other products experienced more modest paces of growth.
In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .