Price for Spices; Ginger, Crushed or Ground in Azerbaijan - 2023
Contents:
- Price for Spices; Ginger, Crushed or Ground in Azerbaijan (CIF) - 2022
- Price for Spices; Ginger, Crushed or Ground in Azerbaijan (FOB) - 2022
- Imports of Spices; Ginger, Crushed or Ground in Azerbaijan
- Exports of Spices; Ginger, Crushed or Ground in Azerbaijan
Price for Spices; Ginger, Crushed or Ground in Azerbaijan (CIF) - 2022
The average import price for spices; ginger, crushed or ground stood at $3,185 per ton in 2022, declining by -11% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the average import price increased by 58% against the previous year. As a result, import price reached the peak level of $4,074 per ton. From 2018 to 2022, the average import prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Turkey ($9,229 per ton), while the price for Iran ($2,604 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+10.1%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Spices; Ginger, Crushed or Ground in Azerbaijan (FOB) - 2022
The average export price for spices; ginger, crushed or ground stood at $11,609 per ton in 2022, falling by -17.8% against the previous year. In general, the export price, however, enjoyed buoyant growth. The most prominent rate of growth was recorded in 2016 when the average export price increased by 29%. The export price peaked at $14,128 per ton in 2021, and then shrank markedly in the following year.
Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Qatar ($13,933 per ton), while the average price for exports to Kazakhstan amounted to $11,291 per ton.
From 2015 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (+28.6%).
Imports of Spices; Ginger, Crushed or Ground in Azerbaijan
In 2022, approx. 32 tons of spices; ginger, crushed or ground were imported into Azerbaijan; increasing by 124% compared with 2021. Over the period under review, imports recorded a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, spices; ginger, crushed or ground imports soared to $101K in 2022. Overall, imports posted significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 114%. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in the near future.
| Import of Spices; Ginger, Crushed or Ground in Azerbaijan (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 8.5 | 27.5 | 12.1 | 56.4 | 87.9% |
| Iran | 2.6 | 2.7 | 1.9 | 19.7 | 96.4% |
| Turkey | 9.5 | 6.4 | 6.0 | 14.2 | 14.3% |
| China | 4.3 | 21.6 | 6.5 | 5.1 | 5.9% |
| United Arab Emirates | 4.4 | 9.9 | 22.6 | 0.3 | -59.1% |
| Nigeria | 1.9 | 0.2 | 0.1 | 0.1 | -62.5% |
| Others | 2.7 | 4.4 | 1.7 | 5.4 | 26.0% |
| Total | 33.9 | 72.7 | 50.9 | 101 | 43.9% |
Top Suppliers of Spices; Ginger, Crushed or Ground to Azerbaijan in 2022:
- Nigeria (undefined tons)
- India (21.0 tons)
- Iran (7.6 tons)
- Turkey (1.5 tons)
- China (1.1 tons)
- United Arab Emirates (0.1 tons)
Exports of Spices; Ginger, Crushed or Ground in Azerbaijan
In 2022, exports of spices; ginger, crushed or ground from Azerbaijan shrank notably to 6 kg, waning by -87.2% against the previous year's figure. In general, exports showed a precipitous curtailment.
In value terms, spices; ginger, crushed or ground exports reduced dramatically to $72 in 2022. Overall, exports recorded a significant contraction.
| Export of Spices; Ginger, Crushed or Ground in Azerbaijan (USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2021 | 2022 | CAGR, 2021-2022 | ||
| Kazakhstan | 85.0 | 62.0 | -27.1% | ||
| Qatar | N/A | 10.0 | 0% | ||
| Russia | 579 | N/A | 0% | ||
| Others | N/A | N/A | 0% | ||
| Total | 664 | 72.0 | -89.2% | ||
Top Export Markets for Spices; Ginger, Crushed or Ground from Azerbaijan in 2022:
- Kazakhstan (5.0 kg)
- Qatar (1.0 kg)
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