Price for Spices; Ginger, Crushed or Ground in Colombia - 2022
Contents:
- Price for Spices; Ginger, Crushed or Ground in Colombia (CIF) - 2022
- Price for Spices; Ginger, Crushed or Ground in Colombia (FOB) - 2022
- Imports of Spices; Ginger, Crushed or Ground in Colombia
- Exports of Spices; Ginger, Crushed or Ground in Colombia
Price for Spices; Ginger, Crushed or Ground in Colombia (CIF) - 2022
The average import price for spices; ginger, crushed or ground stood at $1,515 per ton in 2022, remaining relatively unchanged against the previous year. Over the period under review, the import price, however, saw a deep slump. The pace of growth appeared the most rapid in 2018 an increase of 29% against the previous year. The import price peaked at $2,937 per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($7,534 per ton), while the price for Peru ($818 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+7.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Spices; Ginger, Crushed or Ground in Colombia (FOB) - 2022
The average export price for spices; ginger, crushed or ground stood at $11,706 per ton in 2022, with a decrease of -27.3% against the previous year. Over the period under review, the export price continues to indicate a deep downturn. The pace of growth was the most pronounced in 2020 when the average export price increased by 245%. Over the period under review, the average export prices attained the peak figure at $45,192 per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Spain ($11,951 per ton), while the average price for exports to Aruba ($2,706 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 UK (+22.8%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Spices; Ginger, Crushed or Ground in Colombia
In 2022, supplies from abroad of spices; ginger, crushed or ground decreased by -12.5% to 143 tons for the first time since 2018, thus ending a three-year rising trend. In general, imports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 66%.
In value terms, spices; ginger, crushed or ground imports declined to $216K in 2022. Overall, total imports indicated a prominent increase from 2019 to 2022: its value increased at an average annual rate of +12.1% 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 +40.9% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 33% against the previous year. As a result, imports attained the peak of $247K, and then declined in the following year.
| Import of Spices; Ginger, Crushed or Ground in Colombia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Peru | 8.5 | 46.7 | 94.1 | 66.6 | 98.6% |
| China | 90.3 | 76.0 | 54.3 | 52.8 | -16.4% |
| United States | 11.8 | 13.6 | 43.2 | 30.6 | 37.4% |
| Egypt | 5.9 | 12.4 | 17.1 | 12.1 | 27.1% |
| Nigeria | 16.5 | 26.7 | 20.6 | 11.0 | -12.6% |
| India | 1.7 | 9.3 | 10.7 | 7.6 | 64.7% |
| Germany | 15.4 | N/A | N/A | N/A | 0% |
| Others | 3.4 | 1.1 | 7.0 | 35.5 | 118.6% |
| Total | 154 | 186 | 247 | 216 | 11.9% |
Top Suppliers of Spices; Ginger, Crushed or Ground to Colombia in 2022:
- Peru (81.4 tons)
- China (32.0 tons)
- Egypt (9.0 tons)
- Nigeria (5.7 tons)
- United States (4.1 tons)
- India (3.6 tons)
Exports of Spices; Ginger, Crushed or Ground in Colombia
In 2022, spices; ginger, crushed or ground exports from Colombia fell rapidly to 94 kg, with a decrease of -16.1% compared with the previous year. Overall, exports faced a precipitous setback. The pace of growth was the most pronounced in 2021 with an increase of 120% against the previous year.
In value terms, spices; ginger, crushed or ground exports shrank sharply to $1.1K in 2022. Over the period under review, exports continue to indicate a significant curtailment. The pace of growth appeared the most rapid in 2021 when exports increased by 342%.
| Export of Spices; Ginger, Crushed or Ground in Colombia (USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Kingdom | 1,350 | 338 | 1,448 | 396 | -33.6% |
| Spain | N/A | N/A | N/A | 351 | 0% |
| Aruba | 57.0 | 7.0 | 7.0 | 3.0 | -62.5% |
| Switzerland | 35.0 | N/A | N/A | N/A | 0% |
| Costa Rica | 3,888 | 1.0 | N/A | N/A | -100.0% |
| Others | N/A | 61.0 | 342 | 352 | 140.2% |
| Total | 5,330 | 407 | 1,797 | 1,102 | -40.9% |
Top Export Markets for Spices; Ginger, Crushed or Ground from Colombia in 2022:
- United Kingdom (34.0 kg)
- Spain (29.0 kg)
- Aruba (1.0 kg)
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