Global Spice Exports Soar During Pandemic: What's the Value?
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Spices have held significant economic value since colonial times. This is evident from the primary reason colonizers, particularly from Europe, came to spice-producing countries.
The total value of global spice exports reached US$26.9 billion in 2020. This figure surged 10.5% from US$24.3 billion in 2019.
The trend of global spice exports has been increasing year-on-year. Recorded spice export values reached US$23.2 billion in 2017, a 7.5% growth from the previous period.
Spice export values continued to rise, although the increase was not as high as in 2017, increasing by 3.5% to US$24 billion in 2018. In 2019, spice exports also increased by 1.3%.
The most exported spices are soy sauce and instant seasonings. A total of US$12.4 billion worth of soy sauce and instant seasonings were exported in 2020. This contributed 46.1% to the total global spice exports.
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
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