Price for Cumin Seeds, Crushed or Ground in Australia - 2023

Contents:

1. Price for Cumin Seeds, Crushed or Ground in Australia (CIF) - 2023
2. Price for Cumin Seeds, Crushed or Ground in Australia (FOB) - 2022
3. Imports of Cumin Seeds, Crushed or Ground in Australia
4. Exports of Cumin Seeds, Crushed or Ground in Australia

Price for Cumin Seeds, Crushed or Ground in Australia (CIF) - 2023

In July 2023, the average import price for cumin seeds, crushed or ground amounted to $4,807 per ton, picking up by 14% against the previous month. Over the last twelve months, it increased at an average monthly rate of +2.2%. The pace of growth was the most pronounced in April 2023 an increase of 31% against the previous month. As a result, import price attained the peak level of $5,005 per ton. From May 2023 to July 2023, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In July 2023, the country with the highest price was Malaysia ($6,599 per ton), while the price for Vietnam ($3,415 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 Malaysia (+4.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Cumin Seeds, Crushed or Ground in Australia (FOB) - 2022

The average export price for cumin seeds, crushed or ground stood at $10,071 per ton in 2022, growing by 28% against the previous year. In general, the export price, however, recorded a perceptible curtailment. The pace of growth appeared the most rapid in 2019 when the average export price increased by 69% against the previous year. The export price peaked at $13,621 per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($25,304 per ton), while the average price for exports to India ($1,634 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 Vietnam (+14.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Cumin Seeds, Crushed or Ground in Australia

In 2022, after three years of growth, there was significant decline in supplies from abroad of cumin seeds, crushed or ground, when their volume decreased by -9% to 791 tons. The total import volume increased at an average annual rate of +5.1% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 13%. As a result, imports reached the peak of 869 tons, and then dropped in the following year.

In value terms, cumin seeds, crushed or ground imports rose significantly to $3M in 2022. The total import value increased at an average annual rate of +8.1% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 18% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Top Suppliers of Cumin Seeds, Crushed or Ground to Australia in 2022:

1. India (551.2 tons)
2. Vietnam (118.0 tons)
3. Malaysia (59.6 tons)
4. Turkey (26.6 tons)
5. Bangladesh (14.5 tons)

Exports of Cumin Seeds, Crushed or Ground in Australia

In 2022, shipments abroad of cumin seeds, crushed or ground decreased by -7.3% to 16 tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, total exports indicated buoyant growth from 2019 to 2022: its volume increased at an average annual rate of +14.2% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +49.0% against 2019 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 36%.

In value terms, cumin seeds, crushed or ground exports surged to $162K in 2022. In general, total exports indicated strong growth from 2019 to 2022: its value increased at an average annual rate of +13.4% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +45.7% against 2019 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Top Export Markets for Cumin Seeds, Crushed or Ground from Australia in 2022:

1. New Zealand (5.5 tons)
2. India (3.0 tons)
3. Singapore (2.9 tons)
4. Malaysia (1.8 tons)
5. Vietnam (1.6 tons)
6. Indonesia (0.6 tons)
7. Thailand (0.2 tons)

Source: IndexBox Market Intelligence Platform