Price for Spices; Ginger, Neither Crushed Nor Ground in Pakistan - 2023
Contents:
- Price for Spices; Ginger, Neither Crushed Nor Ground in Pakistan (CIF) - 2023
- Price for Spices; Ginger, Neither Crushed Nor Ground in Pakistan (FOB) - 2022
- Imports of Spices; Ginger, Neither Crushed Nor Ground in Pakistan
- Exports of Spices; Ginger, Neither Crushed Nor Ground in Pakistan
Price for Spices; Ginger, Neither Crushed Nor Ground in Pakistan (CIF) - 2023
In July 2023, the average import price for spices; ginger, neither crushed nor ground amounted to $619 per ton, rising by 12% against the previous month. In general, the import price showed a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.
There were significant differences in the average prices amongst the major supplying countries. In July 2023, the country with the highest price was China ($1,649 per ton), while the price for Thailand ($543 per ton) was amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by China (+9.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Spices; Ginger, Neither Crushed Nor Ground in Pakistan (FOB) - 2022
The average export price for spices; ginger, neither crushed nor ground stood at $1,404 per ton in 2022, increasing by 85% against the previous year. Overall, the export price, however, showed a abrupt curtailment. Over the period under review, the average export prices attained the maximum at $5,383 per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.
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 the United States ($2,144 per ton), while the average price for exports to Afghanistan stood at $488 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+5.5%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Spices; Ginger, Neither Crushed Nor Ground in Pakistan
For the third year in a row, Pakistan recorded decline in supplies from abroad of spices; ginger, neither crushed nor ground, which decreased by -2.4% to 80K tons in 2022. Overall, imports recorded a pronounced decline. The smallest decline of less than 0.1% was in 2021.
In value terms, imports of spices; ginger, neither crushed nor ground contracted sharply to $61M in 2022. Over the period under review, imports recorded a abrupt descent. The pace of growth appeared the most rapid in 2021 with an increase of 19% against the previous year. As a result, imports reached the peak of $112M, and then dropped remarkably in the following year.
| Import of Spices; Ginger, Neither Crushed Nor Ground in Pakistan (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Thailand | 21.8 | 27.8 | 35.2 | 37.9 | 20.2% |
| China | 61.5 | 64.9 | 73.5 | 22.1 | -28.9% |
| Others | 0.1 | 1.1 | 2.9 | 0.8 | 100.0% |
| Total | 83.4 | 93.7 | 112 | 60.9 | -9.9% |
Top Suppliers of Spices; Ginger, Neither Crushed Nor Ground to Pakistan in 2022:
- Thailand (52.3K tons)
- China (26.2K tons)
Exports of Spices; Ginger, Neither Crushed Nor Ground in Pakistan
In 2022, approx. 4.1 tons of spices; ginger, neither crushed nor ground were exported from Pakistan; falling by -36.3% on 2021 figures. In general, exports saw a dramatic decrease. The smallest decline of -23.9% was in 2020.
In value terms, exports of spices; ginger, neither crushed nor ground skyrocketed to $5.8K in 2022. Overall, exports faced a precipitous curtailment. The growth pace was the most rapid in 2020 with an increase of 24% against the previous year. As a result, the exports attained the peak of $55K. From 2021 to 2022, the growth of the exports of failed to regain momentum.
| Export of Spices; Ginger, Neither Crushed Nor Ground in Pakistan (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | N/A | 0.3 | N/A | 4.9 | 304.1% |
| Afghanistan | N/A | 4.4 | 1.9 | 0.9 | -54.8% |
| Hong Kong SAR | N/A | N/A | 2.0 | N/A | 0% |
| Mauritius | 16.4 | 49.6 | N/A | N/A | 202.4% |
| United Arab Emirates | 27.4 | N/A | 1.0 | N/A | -80.9% |
| Others | 0.3 | 0.5 | N/A | N/A | 66.7% |
| Total | 44.1 | 54.9 | 4.9 | 5.8 | -49.1% |
Top Export Markets for Spices; Ginger, Neither Crushed Nor Ground from Pakistan in 2022:
- United States (2.3 tons)
- Afghanistan (1.9 tons)
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