Spices; Turmeric (Curcuma) Price in Mexico - 2023
Contents:
- Spices; Turmeric (Curcuma) Price in Mexico (CIF) - 2023
- Spices; Turmeric (Curcuma) Price in Mexico (FOB) - 2022
- Spices; Turmeric (Curcuma) Imports in Mexico
- Spices; Turmeric (Curcuma) Exports in Mexico
Spices; Turmeric (Curcuma) Price in Mexico (CIF) - 2023
In June 2023, the average spices; turmeric (curcuma) import price amounted to $1,715 per ton, which is down by -21.2% against the previous month. Overall, the import price showed a perceptible curtailment. The growth pace was the most rapid in February 2023 an increase of 112% m-o-m. As a result, import price attained the peak level of $3,268 per ton. From March 2023 to June 2023, the average import prices failed to regain momentum.
As there is only one major supplying country, the average price level is determined by prices for India.
From August 2022 to June 2023, the rate of growth in terms of prices for Peru amounted to 0.0% per month.
Spices; Turmeric (Curcuma) Price in Mexico (FOB) - 2022
In 2022, the average spices; turmeric (curcuma) export price amounted to $4,242 per ton, reducing by -33% against the previous year. Over the period under review, the export price continues to indicate a noticeable downturn. The growth pace was the most rapid in 2021 an increase of 65%. The export price peaked at $7,031 per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.
Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were the United States ($5,396 per ton) and India ($5,200 per ton), while the average price for exports to Haiti ($3,894 per ton) and Guatemala ($4,124 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+13.4%), while the prices for the other major destinations experienced a decline.
Spices; Turmeric (Curcuma) Imports in Mexico
In 2022, after three years of growth, there was significant decline in overseas purchases of spices; turmeric (curcuma), when their volume decreased by -21.1% to 420 tons. Over the period under review, total imports indicated a noticeable increase from 2019 to 2022: its volume increased at an average annual rate of +4.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 when imports increased by 45%.
In value terms, spices; turmeric (curcuma) imports expanded to $1.1M in 2022. The total import value increased at an average annual rate of +8.8% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 32%. As a result, imports reached the peak of $1.1M; afterwards, it flattened through to 2022.
| Import of Spices; Turmeric (Curcuma) in Mexico (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 664 | 924 | 777 | 917 | 11.4% |
| Peru | 83.8 | 74.0 | 179 | 90.9 | 2.7% |
| Vietnam | N/A | N/A | N/A | 39.4 | 0% |
| Others | 83.8 | 96.9 | 81.1 | 24.6 | -33.5% |
| Total | 831 | 1,095 | 1,037 | 1,072 | 8.9% |
Top Suppliers of Spices; Turmeric (Curcuma) to Mexico in 2022:
- India (371.3 tons)
- Peru (26.5 tons)
- Vietnam (20.6 tons)
Spices; Turmeric (Curcuma) Exports in Mexico
In 2022, overseas shipments of spices; turmeric (curcuma) were finally on the rise to reach 21 tons after two years of decline. Overall, exports enjoyed a prominent increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, spices; turmeric (curcuma) exports surged to $89K in 2022. In general, exports saw prominent growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Spices; Turmeric (Curcuma) in Mexico (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Haiti | 46.1 | 16.1 | 14.1 | 55.1 | 6.1% |
| Guatemala | 8.9 | 3.4 | 3.2 | 13.5 | 14.9% |
| India | N/A | N/A | N/A | 11.0 | 0% |
| United States | 0.1 | N/A | 0.7 | 5.1 | 270.8% |
| Others | 3.1 | 1.5 | 1.3 | 4.4 | 12.4% |
| Total | 58.2 | 21.0 | 19.2 | 89.2 | 15.3% |
Top Export Markets for Spices; Turmeric (Curcuma) from Mexico in 2022:
- Haiti (14.2 tons)
- Guatemala (3.3 tons)
- India (2.1 tons)
- United States (1.0 tons)
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