Price for Spices; Ginger, Crushed or Ground in Australia - 2023
Contents:
- Price for Spices; Ginger, Crushed or Ground in Australia (CIF) - 2023
- Price for Spices; Ginger, Crushed or Ground in Australia (FOB) - 2022
- Imports of Spices; Ginger, Crushed or Ground in Australia
- Exports of Spices; Ginger, Crushed or Ground in Australia
Price for Spices; Ginger, Crushed or Ground in Australia (CIF) - 2023
In July 2023, the average import price for spices; ginger, crushed or ground amounted to $3,540 per ton, reducing by -1.8% against the previous month. Over the period under review, the import price saw a perceptible decrease. The pace of growth appeared the most rapid in April 2023 when the average import price increased by 13% against the previous month. The import price peaked at $4,641 per ton in July 2022; however, from August 2022 to July 2023, import prices failed to regain momentum.
Average prices varied somewhat amongst the major supplying countries. In July 2023, the country with the highest price was the Philippines ($4,039 per ton), while the price for China ($2,785 per ton) was amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by India (-1.2%), while the prices for the other major suppliers experienced a decline.
Price for Spices; Ginger, Crushed or Ground in Australia (FOB) - 2022
In 2022, the average export price for spices; ginger, crushed or ground amounted to $16,805 per ton, falling by -18.9% against the previous year. Overall, the export price, however, posted a prominent expansion. The pace of growth appeared the most rapid in 2018 an increase of 206% against the previous year. The export price peaked at $21,751 per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($37,866 per ton), while the average price for exports to Germany ($5,086 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+22.1%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Spices; Ginger, Crushed or Ground in Australia
In 2022, after three years of growth, there was significant decline in overseas purchases of spices; ginger, crushed or ground, when their volume decreased by -26.3% to 772 tons. Over the period under review, total imports indicated a prominent expansion from 2019 to 2022: its volume increased at an average annual rate of +13.4% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 when imports increased by 72%.
In value terms, spices; ginger, crushed or ground imports dropped remarkably to $3M in 2022. Overall, total imports indicated a buoyant increase from 2019 to 2022: its value increased at an average annual rate of +19.2% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +69.4% against 2019 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 51% against the previous year.
| Import of Spices; Ginger, Crushed or Ground in Australia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 778 | 998 | 1,234 | 1,345 | 20.0% |
| China | 675 | 1,404 | 1,460 | 1,341 | 25.7% |
| Thailand | 93.5 | 6.0 | 114 | 44.5 | -21.9% |
| Nigeria | 104 | 47.2 | 3.0 | 34.4 | -30.8% |
| Fiji | N/A | N/A | 467 | 1.8 | -99.6% |
| Others | 98.5 | 179 | 300 | 196 | 25.8% |
| Total | 1,749 | 2,634 | 3,578 | 2,963 | 19.2% |
Top Suppliers of Spices; Ginger, Crushed or Ground to Australia in 2022:
- India (374.4 tons)
- China (352.9 tons)
- Thailand (12.3 tons)
- Nigeria (4.8 tons)
- Fiji (1.0 tons)
Exports of Spices; Ginger, Crushed or Ground in Australia
In 2022, the amount of spices; ginger, crushed or ground exported from Australia was estimated at 41 tons, rising by 3.4% against the previous year. In general, exports, however, continue to indicate a pronounced setback. The most prominent rate of growth was recorded in 2020 when exports increased by 143% against the previous year. As a result, the exports attained the peak of 106 tons. From 2021 to 2022, the growth of the exports remained at a lower figure.
In value terms, spices; ginger, crushed or ground exports dropped rapidly to $683K in 2022. Overall, exports, however, continue to indicate a abrupt shrinkage. The pace of growth was the most pronounced in 2020 with an increase of 23%. As a result, the exports reached the peak of $1.2M. From 2021 to 2022, the growth of the exports failed to regain momentum.
| Export of Spices; Ginger, Crushed or Ground in Australia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 723 | 914 | 603 | 506 | -11.2% |
| Germany | N/A | N/A | N/A | 48.0 | 0% |
| French Polynesia | 3.3 | 6.0 | 14.1 | 31.3 | 111.7% |
| New Zealand | 119 | 129 | 126 | 28.0 | -38.3% |
| Japan | N/A | N/A | N/A | 24.7 | 0% |
| Singapore | 13.4 | 15.4 | 16.4 | 12.5 | -2.3% |
| Malaysia | 16.0 | 22.0 | 26.3 | 11.4 | -10.7% |
| Thailand | 7.9 | 7.8 | 0.1 | 11.1 | 12.0% |
| Fiji | 12.4 | 13.2 | 12.6 | 2.9 | -38.4% |
| United Kingdom | 49.0 | 13.2 | N/A | N/A | -73.1% |
| Ghana | N/A | 44.1 | N/A | N/A | 0% |
| Others | 6.0 | 7.8 | 15.5 | 7.4 | 7.2% |
| Total | 951 | 1,173 | 814 | 683 | -10.4% |
Top Export Markets for Spices; Ginger, Crushed or Ground from Australia in 2022:
- United Kingdom (undefined tons)
- United States (13.4 tons)
- Germany (9.4 tons)
- French Polynesia (4.0 tons)
- Japan (3.8 tons)
- New Zealand (3.6 tons)
- Singapore (1.7 tons)
- Malaysia (1.7 tons)
- Thailand (1.5 tons)
- Fiji (0.5 tons)
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