Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Qatar - 2023
Contents:
- Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Qatar (CIF) - 2023
- Imports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Qatar
Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Qatar (CIF) - 2023
In October 2023, the average import price for ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses amounted to $1,990 per ton, which is down by -15.4% against the previous month. In general, the import price showed a noticeable slump. The pace of growth was the most pronounced in February 2023 an increase of 289% month-to-month. As a result, import price attained the peak level of $6,835 per ton. From March 2023 to October 2023, the average import prices remained at a lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Pakistan ($3,335 per ton), while the price for Oman ($742 per ton) was amongst the lowest.
From October 2022 to October 2023, the most notable rate of growth in terms of prices was attained by Vietnam (+5.7%), while the prices for the other major suppliers experienced mixed trend patterns.
Imports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Qatar
In 2022, approx. 8.1K tons of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses were imported into Qatar; jumping by 16% against the previous year's figure. Overall, imports, however, recorded a drastic downturn. The most prominent rate of growth was recorded in 2021 with an increase of 24% against the previous year.
In value terms, imports of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses soared to $15M in 2022. Over the period under review, imports, however, saw a pronounced reduction.
Import of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Qatar (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
China | 3.8 | 4.0 | 3.7 | 4.0 | 1.7% |
Pakistan | 0.9 | 0.4 | 0.8 | 1.1 | 6.9% |
India | 6.5 | 0.6 | 0.4 | 0.5 | -57.5% |
Bangladesh | 0.8 | 0.4 | 0.3 | 0.4 | -20.6% |
Jordan | 0.6 | 0.4 | 0.6 | 0.4 | -12.6% |
Philippines | N/A | 0.2 | 0.2 | 0.2 | 0.0% |
Others | 3.8 | 4.8 | 6.6 | 8.2 | 29.2% |
Total | 16.4 | 10.8 | 12.6 | 14.8 | -3.4% |
Top Suppliers of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices to Qatar in 2022:
- China (6.4K tons)
- Bangladesh (0.4K tons)
- India (0.3K tons)
- Pakistan (0.2K tons)
- Jordan (0.2K tons)
- Philippines (0.1K tons)
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From October 2022 to August 2023, the import growth of Ginger remained at a lower level. The value of Ginger imports decreased to $662K in August 2023.
In October 2023, imports of Dog And Cat Food reached unprecedented levels, with a surge in value to $2.4M.
Apricot imports peaked in 2023 and are expected to experience gradual growth in the future. The value of apricot imports decreased to $1.3M in 2023.
In December 2022, there was a significant growth rate as apricot imports increased by 81% month-on-month. However, in September 2023, the value of apricot imports sharply declined to $154K.
In November 2022, the price of Virgin Olive Oil was $4,374 per ton (CIF, Qatar), showing a decrease of 5.8% compared to the previous month.
In February 2022, the growth pace of Olive Oil imports was the most rapid, with an increase of 82% compared to the previous month. However, in November 2022, the value of imports for Olive Oil fell to $573K.
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The global ginger market is forecast to reach USD 10.3 billion by 2030, growing at a CAGR of 4.7% during the forecast period (2022-2030).
In the wake of the pandemic, the ginger market has accelerated its growth as demand for foods with a reputation for immunity system health has soared to unprecedented heights. India, which almost tripled its export of ginger in 2020, may become a serious competitor to the main global supplier - China. The majority of the developed countries have increased the volume of imports, which, in the context of Covid restrictions and a shortage of container traffic, has led to an increase in prices for the product.
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