Price for Spices; Ginger, Crushed or Ground in Myanmar - 2022
Contents:
- Price for Spices; Ginger, Crushed or Ground in Myanmar (FOB) - 2022
- Price for Spices; Ginger, Crushed or Ground in Myanmar (CIF) - 2022
- Exports of Spices; Ginger, Crushed or Ground in Myanmar
- Imports of Spices; Ginger, Crushed or Ground in Myanmar
Price for Spices; Ginger, Crushed or Ground in Myanmar (FOB) - 2022
In 2022, the average export price for spices; ginger, crushed or ground amounted to $2,069 per ton, shrinking by -8.7% against the previous year. Over the period under review, the export price continues to indicate a deep slump. The growth pace was the most rapid in 2021 an increase of 22% against the previous year. Over the period under review, the average export prices attained the peak figure at $5,668 per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($21,863 per ton), while the average price for exports to Bangladesh ($1,246 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 Arab Emirates (+20.2%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Spices; Ginger, Crushed or Ground in Myanmar (CIF) - 2022
In 2022, the average import price for spices; ginger, crushed or ground amounted to $12,994 per ton, shrinking by -20.1% against the previous year. In general, the import price showed a perceptible curtailment. The growth pace was the most rapid in 2018 an increase of 194%. The import price peaked at $26,610 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 the UK ($101,301 per ton), while the price for Thailand ($12,214 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+144.6%), while the prices for the other major suppliers experienced a decline.
Exports of Spices; Ginger, Crushed or Ground in Myanmar
In 2022, after three years of growth, there was significant decline in overseas shipments of spices; ginger, crushed or ground, when their volume decreased by -6.1% to 314 tons. The total export volume increased at an average annual rate of +5.8% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 15%. As a result, the exports attained the peak of 334 tons, and then shrank in the following year.
In value terms, spices; ginger, crushed or ground exports fell to $649K in 2022. The total export value increased at an average annual rate of +6.1% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when exports increased by 40% against the previous year. As a result, the exports reached the peak of $757K, and then shrank in the following year.
| Export of Spices; Ginger, Crushed or Ground in Myanmar (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Bangladesh | 319 | 215 | 321 | 296 | -2.5% |
| Malaysia | 7.0 | 76.0 | 126 | 113 | 152.7% |
| China | 81.1 | 50.6 | 52.0 | 64.7 | -7.3% |
| Singapore | 34.7 | 76.6 | 82.8 | 46.3 | 10.1% |
| Indonesia | 8.4 | 49.2 | 21.6 | 30.9 | 54.4% |
| Pakistan | 3.1 | 12.3 | 22.9 | 20.6 | 88.0% |
| Others | 90.6 | 60.9 | 131 | 77.8 | -5.0% |
| Total | 543 | 541 | 757 | 649 | 6.1% |
Top Export Markets for Spices; Ginger, Crushed or Ground from Myanmar in 2022:
- Bangladesh (237.6 tons)
- China (16.2 tons)
- Indonesia (15.8 tons)
- Singapore (12.5 tons)
- Pakistan (12.2 tons)
- Malaysia (11.5 tons)
Imports of Spices; Ginger, Crushed or Ground in Myanmar
For the fourth year in a row, Myanmar recorded growth in supplies from abroad of spices; ginger, crushed or ground, which increased by 2.4% to 640 kg in 2022. In general, imports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2020 when imports increased by 286% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.
In value terms, spices; ginger, crushed or ground imports shrank sharply to $8.3K in 2022. Over the period under review, imports continue to indicate significant growth. The pace of growth appeared the most rapid in 2020 with an increase of 249%.
| Import of Spices; Ginger, Crushed or Ground in Myanmar (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Thailand | 1.2 | 4.7 | 8.1 | 7.4 | 83.4% |
| Australia | 0.6 | 1.7 | 2.1 | 0.8 | 10.1% |
| Others | N/A | N/A | N/A | 0.1 | 0% |
| Total | 1.9 | 6.5 | 10.2 | 8.3 | 63.5% |
Top Suppliers of Spices; Ginger, Crushed or Ground to Myanmar in 2022:
- Thailand (602.0 kg)
- Australia (37.0 kg)
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