Price for Spices; Ginger, Crushed or Ground in Italy - 2023
Contents:
- Price for Spices; Ginger, Crushed or Ground in Italy (CIF) - 2022
- Price for Spices; Ginger, Crushed or Ground in Italy (FOB) - 2022
- Imports of Spices; Ginger, Crushed or Ground in Italy
- Exports of Spices; Ginger, Crushed or Ground in Italy
Price for Spices; Ginger, Crushed or Ground in Italy (CIF) - 2022
In 2022, the average import price for spices; ginger, crushed or ground amounted to $3,834 per ton, growing by 13% against the previous year. Overall, import price indicated pronounced growth from 2012 to 2022: its price increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, spices; ginger, crushed or ground import price increased by +82.3% against 2018 indices. The pace of growth was the most pronounced in 2019 an increase of 42%. The import price peaked in 2022 and is likely to see gradual growth in the near future.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($13,650 per ton), while the price for China ($1,559 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovenia (+31.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Spices; Ginger, Crushed or Ground in Italy (FOB) - 2022
The average export price for spices; ginger, crushed or ground stood at $5,887 per ton in 2022, shrinking by -11.3% against the previous year. In general, the export price, however, posted prominent growth. The growth pace was the most rapid in 2013 when the average export price increased by 129%. Over the period under review, the average export prices hit record highs at $8,539 per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Brazil ($72,602 per ton), while the average price for exports to Tunisia ($562 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+10.5%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Spices; Ginger, Crushed or Ground in Italy
In 2022, approx. 341 tons of spices; ginger, crushed or ground were imported into Italy; with a decrease of -26.8% against 2021 figures. In general, imports recorded a pronounced setback. The pace of growth appeared the most rapid in 2021 when imports increased by 58% against the previous year. As a result, imports reached the peak of 466 tons, and then declined notably in the following year.
In value terms, spices; ginger, crushed or ground imports contracted markedly to $1.3M in 2022. Over the period under review, total imports indicated temperate growth from 2019 to 2022: its value increased at an average annual rate of +4.8% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +23.2% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 49% against the previous year. As a result, imports reached the peak of $1.6M, and then fell significantly in the following year.
| Import of Spices; Ginger, Crushed or Ground in Italy (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 131 | 281 | 429 | 341 | 37.6% |
| Spain | 74.5 | 113 | 185 | 264 | 52.5% |
| France | 162 | 191 | 236 | 187 | 4.9% |
| Germany | 176 | 144 | 136 | 161 | -2.9% |
| India | 138 | 40.6 | 196 | 143 | 1.2% |
| China | 262 | 58.6 | 163 | 55.8 | -40.3% |
| United Kingdom | 57.1 | 87.5 | N/A | 27.3 | -21.8% |
| Nigeria | 32.9 | N/A | N/A | N/A | 0% |
| Others | 102 | 146 | 238 | 129 | 8.1% |
| Total | 1,136 | 1,061 | 1,583 | 1,308 | 4.8% |
Top Suppliers of Spices; Ginger, Crushed or Ground to Italy in 2022:
- Netherlands (138.4 tons)
- Spain (75.9 tons)
- China (35.8 tons)
- France (29.5 tons)
- India (27.0 tons)
- Germany (11.8 tons)
- United Kingdom (8.0 tons)
Exports of Spices; Ginger, Crushed or Ground in Italy
In 2022, exports of spices; ginger, crushed or ground from Italy skyrocketed to 168 tons, jumping by 82% compared with 2021 figures. Over the period under review, exports enjoyed a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, spices; ginger, crushed or ground exports skyrocketed to $990K in 2022. Overall, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 87%. Over the period under review, the exports reached the peak figure in 2022 and are likely to continue growth in the immediate term.
| Export of Spices; Ginger, Crushed or Ground in Italy (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 15.2 | 28.4 | 103 | 210 | 140.0% |
| Brazil | 94.0 | 158 | 175 | 203 | 29.3% |
| United Kingdom | 50.6 | 104 | 75.4 | 189 | 55.2% |
| Spain | 31.0 | 75.3 | 106 | 101 | 48.2% |
| Switzerland | 5.3 | 6.1 | N/A | 67.2 | 133.2% |
| France | 36.4 | 67.5 | 26.0 | 62.4 | 19.7% |
| Malta | 20.2 | 9.6 | 19.6 | 23.4 | 5.0% |
| Slovenia | 13.9 | 4.6 | 2.4 | 21.5 | 15.6% |
| Austria | 3.5 | 8.5 | 18.2 | 14.7 | 61.3% |
| Tunisia | N/A | N/A | N/A | 7.9 | 0% |
| India | N/A | 30.2 | N/A | N/A | 0% |
| Others | 10.7 | 34.5 | 86.8 | 89.2 | 102.8% |
| Total | 281 | 526 | 612 | 990 | 52.2% |
Top Export Markets for Spices; Ginger, Crushed or Ground from Italy in 2022:
- Germany (45.2 tons)
- United Kingdom (35.4 tons)
- Spain (21.4 tons)
- Switzerland (15.1 tons)
- Tunisia (14.1 tons)
- France (7.5 tons)
- Slovenia (6.9 tons)
- Malta (4.0 tons)
- Brazil (2.8 tons)
- Austria (2.8 tons)
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