Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Vietnam - 2022
Contents:
- Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Vietnam (FOB) - 2022
- Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Vietnam (CIF) - 2022
- Exports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Vietnam
- Imports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Vietnam
Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Vietnam (FOB) - 2022
The average export price for ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses stood at $2,235 per ton in December 2022, which is down by -23.4% against the previous month. Overall, the export price saw a noticeable shrinkage. The pace of growth was the most pronounced in June 2022 an increase of 18% m-o-m. Over the period under review, the average export prices reached the maximum at $3,691 per ton in December 2021; however, from January 2022 to December 2022, the export prices stood at a somewhat lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was India ($4,358 per ton), while the average price for exports to Lao People's Democratic Republic ($1,376 per ton) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to Pakistan (+11.0%), 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 Vietnam (CIF) - 2022
In December 2022, the average import price for ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses amounted to $3,397 per ton, growing by 48% against the previous month. Overall, the import price saw a modest increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.
There were significant differences in the average prices amongst the major supplying countries. In December 2022, the country with the highest price was Japan ($5,270 per ton), while the price for Nigeria ($1,924 per ton) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by Lao People's Democratic Republic (+6.3%), while the prices for the other major suppliers experienced mixed trend patterns.
Exports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Vietnam
In 2022, overseas shipments of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses decreased by -1.3% to 12K 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 +6.1% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 with an increase of 14% against the previous year.
In value terms, exports of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses dropped to $28M in 2022. Over the period under review, exports showed a deep downturn. The growth pace was the most rapid in 2021 with an increase of 2.5% against the previous year.
| Export of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Vietnam (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 15.1 | 9.5 | 10.3 | 6.4 | -24.9% |
| United States | 2.1 | 3.6 | 3.1 | 4.5 | 28.9% |
| Germany | 0.7 | 0.4 | 2.0 | 2.9 | 60.6% |
| Netherlands | 2.2 | 2.1 | 3.0 | 2.8 | 8.4% |
| Japan | 1.4 | 1.7 | 2.1 | 2.0 | 12.6% |
| China | N/A | 0.1 | 0.8 | 1.5 | 287.3% |
| Canada | 0.7 | 0.7 | 0.8 | 1.0 | 12.6% |
| Australia | 0.7 | 0.9 | 1.3 | 1.0 | 12.6% |
| United Kingdom | 1.0 | 1.1 | 1.7 | 1.0 | 0.0% |
| Pakistan | 0.2 | 0.2 | 0.8 | 0.8 | 58.7% |
| Lao People's Democratic Republic | N/A | 0.1 | 0.1 | 0.3 | 73.2% |
| Indonesia | 4.2 | 5.5 | 0.7 | 0.3 | -58.5% |
| Others | 4.3 | 3.8 | 3.7 | 3.5 | -6.6% |
| Total | 32.7 | 29.6 | 30.3 | 27.9 | -5.2% |
Top Export Markets for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices from Vietnam in 2022:
- India (4363.7 tons)
- Germany (1703.4 tons)
- United States (1048.2 tons)
- Japan (932.0 tons)
- China (776.8 tons)
- Netherlands (702.1 tons)
- Australia (357.7 tons)
- Canada (291.5 tons)
- United Kingdom (244.5 tons)
- Pakistan (208.5 tons)
- Lao People's Democratic Republic (191.8 tons)
- Indonesia (116.9 tons)
Imports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Vietnam
In 2022, imports of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses into Vietnam surged to 5.3K tons, with an increase of 29% against the year before. Over the period under review, total imports indicated strong growth from 2019 to 2022: its volume increased at an average annual rate of +8.9% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +51.3% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, imports of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses rose significantly to $12M in 2022. The total import value increased at an average annual rate of +10.9% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 14%. Over the period under review, imports of reached the peak figure in 2022 and are likely to see gradual growth in years to come.
| Import of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Vietnam (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 3.7 | 4.7 | 4.2 | 4.8 | 9.1% |
| Nigeria | 2.1 | 1.8 | 3.4 | 3.1 | 13.9% |
| India | 0.7 | 1.1 | 1.3 | 2.7 | 56.8% |
| South Korea | N/A | N/A | N/A | 0.2 | 0% |
| Myanmar | 0.3 | 0.1 | 0.2 | 0.1 | -30.7% |
| Thailand | 1.0 | 0.9 | 0.6 | 0.1 | -53.6% |
| Others | 1.0 | 0.8 | 0.9 | 1.2 | 6.3% |
| Total | 8.9 | 9.4 | 10.7 | 12.1 | 10.8% |
Top Suppliers of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices to Vietnam in 2022:
- China (2371.5 tons)
- Nigeria (1604.6 tons)
- India (924.6 tons)
- South Korea (84.5 tons)
- Myanmar (32.6 tons)
- Thailand (23.2 tons)
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