Price for Spices; Ginger, Crushed or Ground in Belarus - 2022
Contents:
- Price for Spices; Ginger, Crushed or Ground in Belarus (CIF) - 2022
- Price for Spices; Ginger, Crushed or Ground in Belarus (FOB) - 2022
- Imports of Spices; Ginger, Crushed or Ground in Belarus
- Exports of Spices; Ginger, Crushed or Ground in Belarus
Price for Spices; Ginger, Crushed or Ground in Belarus (CIF) - 2022
In 2022, the average import price for spices; ginger, crushed or ground amounted to $2,556 per ton, dropping by -19.8% against the previous year. In general, the import price showed a deep downturn. The most prominent rate of growth was recorded in 2020 an increase of 35%. Over the period under review, average import prices hit record highs at $8,348 per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Poland ($6,887 per ton), while the price for the UK ($1,311 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-2.4%), while the prices for the other major suppliers experienced a decline.
Price for Spices; Ginger, Crushed or Ground in Belarus (FOB) - 2022
In 2022, the average export price for spices; ginger, crushed or ground amounted to $1,833 per ton, dropping by -59.1% against the previous year. Over the period under review, the export price showed a sharp decline. The most prominent rate of growth was recorded in 2016 when the average export price increased by 194%. Over the period under review, the average export prices attained the peak figure at $21,443 per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.
As there is only one major export destination, the average price level is determined by prices for Russia.
From 2012 to 2022, the rate of growth in terms of prices for Russia amounted to -21.8% per year.
Imports of Spices; Ginger, Crushed or Ground in Belarus
For the fourth year in a row, Belarus recorded growth in purchases abroad of spices; ginger, crushed or ground, which increased by 1% to 27 tons in 2022. The total import volume increased at an average annual rate of +14.0% 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 2020 when imports increased by 38% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the immediate term.
In value terms, spices; ginger, crushed or ground imports contracted significantly to $69K in 2022. Over the period under review, total imports indicated a resilient increase from 2019 to 2022: its value increased at an average annual rate of +13.9% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -21.0% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 87% against the previous year. As a result, imports reached the peak of $87K. From 2021 to 2022, the growth of imports remained at a lower figure.
| Import of Spices; Ginger, Crushed or Ground in Belarus (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Russia | 26.7 | 49.1 | 54.5 | 46.4 | 20.2% |
| Nigeria | 9.8 | 10.4 | 8.5 | 7.2 | -9.8% |
| Poland | 5.1 | 15.3 | 5.0 | 5.9 | 5.0% |
| India | 1.5 | 4.8 | 3.5 | 3.0 | 26.0% |
| Others | 3.5 | 7.6 | 13.5 | 6.4 | 22.3% |
| Total | 46.6 | 87.2 | 85.0 | 68.9 | 13.9% |
Top Suppliers of Spices; Ginger, Crushed or Ground to Belarus in 2022:
- Russia (20.6 tons)
- Nigeria (2.8 tons)
- India (1.4 tons)
- Poland (0.9 tons)
Exports of Spices; Ginger, Crushed or Ground in Belarus
In 2022, spices; ginger, crushed or ground exports from Belarus surged to 2 tons, picking up by 184% against 2021 figures. Overall, exports enjoyed a significant expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 481%. The exports peaked in 2022 and are likely to see gradual growth in years to come.
In value terms, spices; ginger, crushed or ground exports soared to $3.6K in 2022. Over the period under review, exports recorded a significant increase. The pace of growth appeared the most rapid in 2020 when exports increased by 273%. As a result, the exports reached the peak of $4.1K. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
| Export of Spices; Ginger, Crushed or Ground in Belarus (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Russia | 1.1 | 3.9 | 2.2 | 3.6 | 48.5% |
| Others | N/A | 0.2 | 0.9 | N/A | 350.0% |
| Total | 1.1 | 4.1 | 3.1 | 3.6 | 48.5% |
Top Export Markets for Spices; Ginger, Crushed or Ground from Belarus in 2022:
- Russia (2.0 tons)
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