Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Mexico - 2023
Contents:
- Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Mexico (FOB) - 2023
- Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Mexico (CIF) - 2022
- Exports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Mexico
- Imports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Mexico
Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Mexico (FOB) - 2023
In November 2023, the average export price for ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses amounted to $269K per ton, standing approximately at the previous month. Over the period under review, the export price enjoyed pronounced growth. The export price peaked in November 2023.
As there is only one major export destination, the average price level is determined by prices for Canada.
From November 2022 to November 2023, the rate of growth in terms of prices for Canada amounted to +1.3% per month.
Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Mexico (CIF) - 2022
In 2022, the average import price for ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses amounted to $13,042 per ton, declining by -34.5% against the previous year. In general, the import price, however, continues to indicate a strong increase. The most prominent rate of growth was recorded in 2015 when the average import price increased by 99%. Over the period under review, average import prices hit record highs at $54,684 per ton in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($106,493 per ton), while the price for Egypt ($1,605 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+30.1%), 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 Mexico
In 2022, overseas shipments of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses decreased by -15.9% to 5.2K tons for the first time since 2018, thus ending a three-year rising trend. The total export volume increased at an average annual rate of +5.2% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of 22% against the previous year.
In value terms, exports of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses expanded significantly to $15M in 2022. Overall, total exports indicated a significant expansion from 2019 to 2022: its value increased at an average annual rate of +22.0% 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 +81.8% against 2019 indices. The growth pace was the most rapid in 2020 with an increase of 37%. Over the period under review, the exports of attained the peak figure in 2022 and are expected to retain growth in the immediate term.
| Export of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Mexico (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 7.7 | 10.7 | 13.5 | 14.3 | 22.9% |
| Others | 0.5 | 0.5 | 0.7 | 0.6 | 6.3% |
| Total | 8.2 | 11.2 | 14.2 | 14.9 | 22.0% |
Top Export Markets for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices from Mexico in 2022:
- United States (5.2K tons)
Imports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Mexico
Imports of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses into Mexico soared to 401 tons in 2022, with an increase of 35% on the year before. In general, imports saw a significant increase. The most prominent rate of growth was recorded in 2021 when imports increased by 133%. Over the period under review, imports of hit record highs in 2022 and are likely to continue growth in the near future.
In value terms, imports of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses dropped to $5.2M in 2022. The total import value increased at an average annual rate of +4.9% over the period from 2019 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when imports increased by 16% against the previous year. As a result, imports attained the peak of $5.9M, and then declined in the following year.
| Import of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Mexico (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 1,266 | 1,523 | 2,228 | 1,557 | 7.1% |
| Peru | 201 | 212 | 1,199 | 956 | 68.2% |
| United States | 848 | 1,113 | 932 | 910 | 2.4% |
| Spain | 969 | 834 | 644 | 763 | -7.7% |
| Turkey | 378 | 386 | 176 | 574 | 14.9% |
| Egypt | 294 | 201 | 369 | 265 | -3.4% |
| Others | 579 | 841 | 385 | 211 | -28.6% |
| Total | 4,533 | 5,108 | 5,933 | 5,235 | 4.9% |
Top Suppliers of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices to Mexico in 2022:
- Egypt (164.9 tons)
- India (100.2 tons)
- Turkey (63.1 tons)
- Peru (45.8 tons)
- Spain (14.3 tons)
- United States (8.5 tons)
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