Price for Spices; Ginger, Crushed or Ground in China - 2023
Contents:
- Price for Spices; Ginger, Crushed or Ground in China (FOB) - 2023
- Price for Spices; Ginger, Crushed or Ground in China (CIF) - 2022
- Exports of Spices; Ginger, Crushed or Ground in China
- Imports of Spices; Ginger, Crushed or Ground in China
Price for Spices; Ginger, Crushed or Ground in China (FOB) - 2023
The average export price for spices; ginger, crushed or ground stood at $2,620 per ton in June 2023, with a decrease of -6.5% against the previous month. In general, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in March 2023 an increase of 55% month-to-month. As a result, the export price attained the peak level of $3,083 per ton. From April 2023 to June 2023, the the average export prices remained at a lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was Japan ($3,658 per ton), while the average price for exports to the UK ($918 per ton) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to Israel (+6.8%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Spices; Ginger, Crushed or Ground in China (CIF) - 2022
The average import price for spices; ginger, crushed or ground stood at $5,496 per ton in 2022, with an increase of 6.3% against the previous year. Overall, the import price showed a prominent expansion. The pace of growth appeared the most rapid in 2013 an increase of 373%. As a result, import price reached the peak level of $15,538 per ton. From 2014 to 2022, the average import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($17,289 per ton), while the price for Malaysia ($4,872 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+10.9%), while the prices for the other major suppliers experienced a decline.
Exports of Spices; Ginger, Crushed or Ground in China
In 2022, shipments abroad of spices; ginger, crushed or ground increased by 8.9% to 14K tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports showed a relatively flat trend pattern. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, spices; ginger, crushed or ground exports amounted to $37M in 2022. The total export value increased at an average annual rate of +6.6% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 with an increase of 9.6% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.
| Export of Spices; Ginger, Crushed or Ground in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 12.9 | 14.1 | 16.2 | 20.6 | 16.9% |
| United States | 4.9 | 4.6 | 5.6 | 6.1 | 7.6% |
| Netherlands | 1.8 | 3.2 | 2.9 | 2.0 | 3.6% |
| United Kingdom | 2.4 | 2.3 | 2.7 | 2.0 | -5.9% |
| Germany | 3.4 | 2.0 | 2.2 | 1.5 | -23.9% |
| Belgium | 1.0 | 0.5 | 0.7 | 0.5 | -20.6% |
| Israel | 0.2 | 0.6 | 0.3 | 0.4 | 26.0% |
| Others | 4.2 | 6.1 | 6.0 | 3.9 | -2.4% |
| Total | 30.6 | 33.6 | 36.5 | 37.0 | 6.5% |
Top Export Markets for Spices; Ginger, Crushed or Ground from China in 2022:
- Japan (6.3K tons)
- United Kingdom (2.5K tons)
- United States (2.0K tons)
- Germany (0.8K tons)
- Netherlands (0.5K tons)
- Belgium (0.5K tons)
- Israel (0.2K tons)
Imports of Spices; Ginger, Crushed or Ground in China
In 2022, purchases abroad of spices; ginger, crushed or ground decreased by -37.1% to 5.5 tons, falling for the second year in a row after two years of growth. In general, imports continue to indicate a precipitous descent. The most prominent rate of growth was recorded in 2020 with an increase of 84%. As a result, imports reached the peak of 64 tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
In value terms, spices; ginger, crushed or ground imports shrank dramatically to $30K in 2022. Overall, imports continue to indicate a precipitous curtailment. The most prominent rate of growth was recorded in 2020 when imports increased by 67%. As a result, imports attained the peak of $152K. From 2021 to 2022, the growth of imports failed to regain momentum.
| Import of Spices; Ginger, Crushed or Ground in China (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 1.4 | N/A | 2.1 | 26.1 | 165.2% |
| Malaysia | 8.0 | 4.0 | N/A | 2.6 | -31.2% |
| Germany | N/A | N/A | N/A | 1.7 | 0% |
| Nigeria | 22.3 | N/A | 7.5 | N/A | -42.0% |
| Japan | 34.5 | 49.8 | 33.6 | N/A | -1.3% |
| United States | 2.9 | 96.1 | 0.6 | N/A | -54.5% |
| United Arab Emirates | 17.3 | N/A | N/A | N/A | 0% |
| Others | 4.5 | 2.4 | 1.7 | N/A | -38.5% |
| Total | 91.0 | 152 | 45.5 | 30.4 | -30.6% |
Top Suppliers of Spices; Ginger, Crushed or Ground to China in 2022:
- India (4.9 tons)
- Malaysia (0.5 tons)
- Germany (0.1 tons)
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