Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Sri Lanka - 2022
Contents:
- Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Sri Lanka (FOB) - 2022
- Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Sri Lanka (CIF) - 2022
- Exports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Sri Lanka
- Imports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Sri Lanka
Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Sri Lanka (FOB) - 2022
In 2022, the average export price for ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses amounted to $4,873 per ton, remaining relatively unchanged against the previous year. Overall, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the average export price increased by 171% against the previous year. The export price peaked at $4,991 per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($16,348 per ton), while the average price for exports to Bangladesh ($1,053 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 United Arab Emirates (+10.5%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Sri Lanka (CIF) - 2022
The average import price for ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses stood at $981 per ton in 2022, which is down by -16.8% against the previous year. In general, the import price, however, showed a modest increase. The most prominent rate of growth was recorded in 2015 an increase of 29%. As a result, import price attained the peak level of $1,236 per ton. From 2016 to 2022, the average import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Morocco ($3,552 per ton), while the price for Pakistan ($821 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Myanmar (+8.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Sri Lanka
In 2022, after three years of growth, there was significant decline in overseas shipments of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses, when their volume decreased by -28.2% to 1.1K tons. In general, total exports indicated strong growth from 2019 to 2022: its volume increased at an average annual rate of +5.8% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when exports increased by 42%.
In value terms, exports of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses reduced sharply to $5.6M in 2022. Overall, total exports indicated a prominent increase from 2019 to 2022: its value increased at an average annual rate of +10.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 45%.
| Export of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Sri Lanka (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Kingdom | 651 | 1,033 | 1,161 | 782 | 6.3% |
| Australia | 548 | 685 | 719 | 692 | 8.1% |
| France | 410 | 519 | 870 | 661 | 17.3% |
| Japan | 147 | 223 | 630 | 567 | 56.8% |
| Canada | 340 | 452 | 522 | 454 | 10.1% |
| Germany | 393 | 606 | 692 | 313 | -7.3% |
| United States | 61.6 | 211 | 290 | 267 | 63.0% |
| Switzerland | 169 | 232 | 318 | 255 | 14.7% |
| Ghana | N/A | N/A | N/A | 211 | 0% |
| United Arab Emirates | 325 | 217 | 273 | 153 | -22.2% |
| South Korea | 104 | 179 | 170 | 147 | 12.2% |
| Denmark | 82.0 | 117 | 237 | 138 | 18.9% |
| Bangladesh | N/A | N/A | N/A | 86.9 | 0% |
| Others | 951 | 1,597 | 1,859 | 840 | -4.1% |
| Total | 4,181 | 6,070 | 7,741 | 5,566 | 10.0% |
Top Export Markets for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices from Sri Lanka in 2022:
- United Kingdom (188.8 tons)
- France (146.2 tons)
- Australia (133.3 tons)
- Canada (103.6 tons)
- Bangladesh (82.5 tons)
- Germany (74.1 tons)
- Switzerland (72.5 tons)
- Denmark (38.6 tons)
- Japan (34.7 tons)
- United Arab Emirates (30.4 tons)
- South Korea (27.4 tons)
- United States (27.2 tons)
- Ghana (27.0 tons)
Imports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Sri Lanka
In 2022, approx. 2.6K tons of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses were imported into Sri Lanka; dropping by -20.7% compared with the previous year. Overall, imports recorded a sharp slump.
In value terms, imports of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses shrank remarkably to $2.5M in 2022. In general, imports continue to indicate a sharp curtailment. The smallest decline of -12.9% was in 2021.
| Import of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Sri Lanka (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 7.2 | 2.9 | 2.3 | 1.9 | -35.9% |
| Morocco | N/A | 0.2 | 0.1 | 0.3 | 22.5% |
| Pakistan | 1.0 | 0.5 | 1.1 | 0.2 | -41.5% |
| Turkey | N/A | N/A | 0.1 | 0.1 | 0.0% |
| China | 0.9 | 0.6 | N/A | N/A | -33.3% |
| Others | 0.9 | 0.2 | 0.2 | 0.1 | -51.9% |
| Total | 10.0 | 4.4 | 3.8 | 2.5 | -37.0% |
Top Suppliers of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices to Sri Lanka in 2022:
- India (2190.2 tons)
- Pakistan (189.0 tons)
- Morocco (75.0 tons)
- Turkey (52.1 tons)
- China (12.1 tons)
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