Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in China - 2023
Contents:
- Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in China (FOB) - 2023
- Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in China (CIF) - 2023
- Exports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in China
- Imports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in China
Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in China (FOB) - 2023
In December 2023, the average export price for ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses amounted to $1,462 per ton, dropping by -16.6% against the previous month. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in January 2023 when the average export price increased by 40% m-o-m. The export price peaked at $2,807 per ton in May 2023; however, from June 2023 to December 2023, the export prices stood at a somewhat lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was Japan ($2,723 per ton), while the average price for exports to Vietnam ($608 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 Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in China (CIF) - 2023
In December 2023, the average import price for ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses amounted to $3,679 per ton, dropping by -24% against the previous month. In general, the import price, however, showed a slight increase. The pace of growth appeared the most rapid in November 2023 when the average import price increased by 83% month-to-month. As a result, import price reached the peak level of $4,841 per ton, and then reduced sharply in the following month.
There were significant differences in the average prices amongst the major supplying countries. In December 2023, the country with the highest price was Myanmar ($4,189 per ton), while the price for Nigeria ($502 per ton) was amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by Georgia (+7.8%), 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 China
In 2022, overseas shipments of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses decreased by -18.7% to 406K tons, falling for the second consecutive year after two years of growth. In general, exports continue to indicate a deep contraction. The pace of growth was the most pronounced in 2020 when exports increased by 2%. As a result, the exports attained the peak of 563K tons. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.
In value terms, exports of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses reduced rapidly to $425M in 2022. Overall, exports recorded a abrupt downturn. The pace of growth appeared the most rapid in 2020 when exports increased by 32% against the previous year. As a result, the exports attained the peak of $928M. From 2021 to 2022, the growth of the exports of remained at a lower figure.
| Export of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 64.5 | 60.4 | 72.5 | 60.6 | -2.1% |
| United States | 69.7 | 84.3 | 65.6 | 51.9 | -9.4% |
| Malaysia | 82.4 | 164 | 112 | 50.0 | -15.3% |
| Netherlands | 81.6 | 114 | 93.4 | 48.7 | -15.8% |
| United Arab Emirates | 20.0 | 51.3 | 41.7 | 35.4 | 21.0% |
| United Kingdom | 26.0 | 37.0 | 31.2 | 18.8 | -10.2% |
| Bangladesh | 51.5 | 36.2 | 19.8 | 15.8 | -32.6% |
| Saudi Arabia | 25.4 | 36.3 | 24.0 | 15.5 | -15.2% |
| Canada | 20.5 | 25.6 | 18.7 | 14.3 | -11.3% |
| Pakistan | 58.4 | 60.4 | 49.3 | 13.3 | -38.9% |
| Vietnam | 43.0 | 27.7 | 30.6 | 12.3 | -34.1% |
| Philippines | 7.5 | 13.5 | 10.5 | 4.0 | -18.9% |
| South Korea | 12.7 | 10.4 | 10.0 | 3.4 | -35.5% |
| Others | 140 | 208 | 181 | 81.2 | -16.6% |
| Total | 703 | 928 | 761 | 425 | -15.4% |
Top Export Markets for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices from China in 2022:
- United States (54.5K tons)
- United Arab Emirates (49.4K tons)
- Netherlands (48.8K tons)
- Bangladesh (39.7K tons)
- Malaysia (36.6K tons)
- Japan (28.1K tons)
- Saudi Arabia (23.7K tons)
- United Kingdom (18.6K tons)
- Canada (13.9K tons)
- Vietnam (12.5K tons)
- Pakistan (10.7K tons)
- Philippines (5.3K tons)
- South Korea (3.9K tons)
Imports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in China
In 2022, imports of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses into China soared to 41K tons, with an increase of 34% against the previous year. In general, imports posted a significant expansion. The growth pace was the most rapid in 2020 with an increase of 70% against the previous year. Over the period under review, imports of attained the maximum in 2022 and are expected to retain growth in the immediate term.
In value terms, imports of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses contracted to $59M in 2022. Overall, imports recorded a significant increase. The pace of growth appeared the most rapid in 2020 when imports increased by 100% against the previous year.
| Import of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Myanmar | 6.6 | 5.9 | 4.1 | 19.6 | 43.7% |
| Iran | 2.3 | 11.1 | 31.6 | 13.0 | 78.1% |
| India | 1.9 | 5.0 | 5.9 | 8.1 | 62.1% |
| Turkey | 0.5 | 0.5 | 0.9 | 2.0 | 58.7% |
| Vietnam | N/A | N/A | 1.0 | 1.0 | 0.0% |
| Nigeria | 0.1 | 2.4 | 10.2 | 0.6 | 81.7% |
| Georgia | 2.9 | N/A | N/A | N/A | 0% |
| Others | 4.1 | 11.9 | 14.6 | 14.6 | 52.7% |
| Total | 18.4 | 36.8 | 68.3 | 58.9 | 47.4% |
Top Suppliers of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices to China in 2022:
- Myanmar (20.0K tons)
- India (7.3K tons)
- Iran (1.8K tons)
- Vietnam (1.6K tons)
- Turkey (0.7K tons)
- Nigeria (0.6K tons)
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