Price for Spices; Ginger, Neither Crushed Nor Ground in China - 2023
Contents:
- Price for Spices; Ginger, Neither Crushed Nor Ground in China (FOB) - 2023
- Price for Spices; Ginger, Neither Crushed Nor Ground in China (CIF) - 2022
- Exports of Spices; Ginger, Neither Crushed Nor Ground in China
- Imports of Spices; Ginger, Neither Crushed Nor Ground in China
Price for Spices; Ginger, Neither Crushed Nor Ground in China (FOB) - 2023
The average export price for spices; ginger, neither crushed nor ground stood at $1,373 per ton in December 2023, declining by -11.8% against the previous month. Overall, export price indicated a mild expansion from December 2022 to December 2023: its price increased at an average monthly rate of +1.8% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on December 2023 figures, export price for spices; ginger, neither crushed nor ground decreased by -45.8% against May 2023 indices. The growth pace was the most rapid in January 2023 an increase of 46% month-to-month. Over the period under review, the average export prices attained the peak figure at $2,532 per ton in May 2023; however, from June 2023 to December 2023, the export prices remained at a lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was Japan ($1,883 per ton), while the average price for exports to Vietnam ($585 per ton) was amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was recorded for supplies to Oman (+3.4%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Spices; Ginger, Neither Crushed Nor Ground in China (CIF) - 2022
The average import price for spices; ginger, neither crushed nor ground stood at $476 per ton in 2022, with a decrease of -63.8% against the previous year. Overall, the import price, however, continues to indicate a moderate expansion. The pace of growth was the most pronounced in 2015 when the average import price increased by 203% against the previous year. Over the period under review, average import prices attained the maximum at $1,589 per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Nigeria ($707 per ton), while the price for Myanmar ($345 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+70.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Spices; Ginger, Neither Crushed Nor Ground in China
In 2022, shipments abroad of spices; ginger, neither crushed nor ground decreased by -12.7% to 385K tons, falling for the second consecutive year after two years of growth. In general, exports recorded a abrupt downturn. The pace of growth appeared the most rapid in 2020 when exports increased by 0.2% against the previous year. As a result, the exports attained the peak of 524K tons. From 2021 to 2022, the growth of the exports of failed to regain momentum.
In value terms, exports of spices; ginger, neither crushed nor ground reduced notably to $313M in 2022. Over the period under review, exports continue to indicate a deep downturn. The pace of growth appeared the most rapid in 2020 when exports increased by 27% against the previous year. As a result, the exports reached the peak of $685M. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.
| Export of Spices; Ginger, Neither Crushed Nor Ground in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 79.8 | 110 | 86.8 | 46.0 | -16.8% |
| United States | 61.2 | 75.8 | 62.4 | 41.7 | -12.0% |
| United Arab Emirates | 19.7 | 50.9 | 39.5 | 35.2 | 21.3% |
| Japan | 37.0 | 37.7 | 43.2 | 29.7 | -7.1% |
| Malaysia | 32.4 | 47.5 | 34.3 | 21.0 | -13.5% |
| Bangladesh | 51.8 | 36.0 | 19.0 | 15.7 | -32.8% |
| Saudi Arabia | 25.4 | 36.2 | 23.1 | 15.4 | -15.4% |
| United Kingdom | 22.3 | 33.2 | 25.9 | 15.2 | -12.0% |
| Pakistan | 58.5 | 60.2 | 47.6 | 13.3 | -39.0% |
| Canada | 19.1 | 23.1 | 18.3 | 12.7 | -12.7% |
| Vietnam | 31.9 | 26.1 | 28.4 | 11.3 | -29.2% |
| Philippines | 7.5 | 13.3 | 9.8 | 3.7 | -21.0% |
| South Korea | 11.1 | 8.7 | 8.0 | 1.6 | -47.6% |
| Others | 83.6 | 127 | 79.8 | 50.3 | -15.6% |
| Total | 541 | 685 | 526 | 313 | -16.7% |
Top Export Markets for Spices; Ginger, Neither Crushed Nor Ground from China in 2022:
- United States (51.9K tons)
- United Arab Emirates (49.4K tons)
- Netherlands (48.3K tons)
- Bangladesh (39.7K tons)
- Malaysia (34.4K tons)
- Saudi Arabia (23.7K tons)
- Japan (20.8K tons)
- United Kingdom (15.9K tons)
- Canada (13.7K tons)
- Vietnam (12.3K tons)
- Pakistan (11.6K tons)
- Philippines (5.3K tons)
- South Korea (3.5K tons)
Imports of Spices; Ginger, Neither Crushed Nor Ground in China
After three years of growth, supplies from abroad of spices; ginger, neither crushed nor ground decreased by -64.9% to 3.2K tons in 2022. Over the period under review, imports, however, showed a significant increase. The most prominent rate of growth was recorded in 2021 when imports increased by 235% against the previous year. As a result, imports reached the peak of 9.1K tons, and then contracted remarkably in the following year.
In value terms, imports of spices; ginger, neither crushed nor ground dropped sharply to $1.5M in 2022. Overall, imports, however, showed prominent growth. The most prominent rate of growth was recorded in 2021 when imports increased by 265%. As a result, imports reached the peak of $12M, and then declined dramatically in the following year.
| Import of Spices; Ginger, Neither Crushed Nor Ground in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Myanmar | 0.3 | N/A | N/A | 0.7 | 32.6% |
| Nigeria | 0.1 | 2.4 | 10.2 | 0.6 | 81.7% |
| Vietnam | N/A | N/A | 0.6 | 0.2 | -66.7% |
| India | 0.4 | 0.8 | 1.1 | N/A | 65.8% |
| Others | 0.2 | N/A | N/A | N/A | 0% |
| Total | 1.0 | 3.3 | 12.0 | 1.5 | 14.5% |
Top Suppliers of Spices; Ginger, Neither Crushed Nor Ground to China in 2022:
- Myanmar (2041.8 tons)
- Nigeria (838.9 tons)
- Vietnam (302.4 tons)
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