Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Malaysia - 2024
Contents:
- Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Malaysia (CIF) - 2024
- Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Malaysia (FOB) - 2024
- Imports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Malaysia
- Exports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Malaysia
Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Malaysia (CIF) - 2024
In January 2024, the average import price for ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses amounted to $887 per ton, picking up by 5.3% against the previous month. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in March 2023 an increase of 20% month-to-month. The import price peaked at $1,214 per ton in September 2023; however, from October 2023 to January 2024, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In January 2024, the country with the highest price was India ($1,851 per ton), while the price for Thailand ($260 per ton) was amongst the lowest.
From January 2023 to January 2024, the most notable rate of growth in terms of prices was attained by India (+2.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Malaysia (FOB) - 2024
In January 2024, the average export price for ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses amounted to $2,876 per ton, with an increase of 8.1% against the previous month. Over the period from January 2023 to January 2024, it increased at an average monthly rate of +1.2%. The pace of growth appeared the most rapid in March 2023 when the average export price increased by 44% m-o-m. The export price peaked in January 2024.
There were significant differences in the average prices for the major external markets. In January 2024, the country with the highest price was Australia ($4,735 per ton), while the average price for exports to Sri Lanka ($801 per ton) was amongst the lowest.
From January 2023 to January 2024, the most notable rate of growth in terms of prices was recorded for supplies to Brunei Darussalam (+7.4%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Malaysia
In 2022, the amount of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses imported into Malaysia fell rapidly to 78K tons, which is down by -20.8% on the previous year's figure. Over the period under review, imports saw a mild setback. The growth pace was the most rapid in 2021 when imports increased by 24%. As a result, imports reached the peak of 99K tons, and then contracted significantly in the following year.
In value terms, imports of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses shrank dramatically to $61M in 2022. Overall, imports saw a abrupt downturn. The growth pace was the most rapid in 2020 with an increase of 82%. As a result, imports attained the peak of $165M. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.
| Import of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Malaysia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 55.0 | 136 | 120 | 28.0 | -20.2% |
| India | 11.9 | 12.4 | 14.0 | 13.6 | 4.6% |
| Thailand | 11.1 | 4.8 | 5.6 | 6.9 | -14.7% |
| Indonesia | 3.9 | 3.3 | 3.4 | 2.4 | -14.9% |
| Others | 8.5 | 8.9 | 11.3 | 9.7 | 4.5% |
| Total | 90.4 | 165 | 154 | 60.7 | -12.4% |
Top Suppliers of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices to Malaysia in 2022:
- China (39.2K tons)
- Thailand (22.0K tons)
- India (9.2K tons)
- Indonesia (4.7K tons)
Exports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Malaysia
Exports of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses from Malaysia reached 7.4K tons in 2022, surging by 9.6% against the previous year. The total export volume increased at an average annual rate of +2.2% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, exports of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses totaled $23M in 2022. The total export value increased at an average annual rate of +4.9% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Malaysia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Singapore | 12.0 | 12.2 | 12.6 | 13.8 | 4.8% |
| Australia | 1.4 | 1.7 | 1.9 | 1.7 | 6.7% |
| Thailand | 1.1 | 1.2 | 1.2 | 1.3 | 5.7% |
| Indonesia | 0.9 | 0.8 | 0.7 | 1.0 | 3.6% |
| Brunei Darussalam | 0.9 | 1.0 | 0.9 | 1.0 | 3.6% |
| Canada | 0.8 | 0.7 | 0.1 | 0.2 | -37.0% |
| Others | 2.6 | 3.2 | 3.5 | 3.8 | 13.5% |
| Total | 19.8 | 20.7 | 21.0 | 22.8 | 4.8% |
Top Export Markets for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices from Malaysia in 2022:
- Singapore (4.8K tons)
- Thailand (0.7K tons)
- Australia (0.4K tons)
- Brunei Darussalam (0.3K tons)
- Indonesia (0.2K tons)
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