Price for Spices; Ginger, Crushed or Ground in Oman - 2021
Contents:
- Price for Spices; Ginger, Crushed or Ground in Oman (CIF) - 2022
- Price for Spices; Ginger, Crushed or Ground in Oman (FOB) - 2022
- Imports of Spices; Ginger, Crushed or Ground in Oman
- Exports of Spices; Ginger, Crushed or Ground in Oman
Price for Spices; Ginger, Crushed or Ground in Oman (CIF) - 2022
In 2022, the average import price for spices; ginger, crushed or ground amounted to $2,286 per ton, with a decrease of -7.2% against the previous year. Overall, the import price, however, enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2018 an increase of 128%. The import price peaked at $2,463 per ton in 2021, and then shrank in the following year.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Kuwait ($7,907 per ton), while the price for Bangladesh ($527 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 Arab Emirates (+13.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Spices; Ginger, Crushed or Ground in Oman (FOB) - 2022
The average export price for spices; ginger, crushed or ground stood at $1,584 per ton in 2022, declining by -32.7% against the previous year. In general, the export price saw a abrupt decline. The pace of growth was the most pronounced in 2019 when the average export price increased by 433%. Over the period under review, the average export prices attained the peak figure at $6,506 per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.
As there is only one major export destination, the average price level is determined by prices for Qatar.
From 2012 to 2022, the rate of growth in terms of prices for Qatar amounted to -13.2% per year.
Imports of Spices; Ginger, Crushed or Ground in Oman
Spices; ginger, crushed or ground imports into Oman reached 91 tons in 2022, with an increase of 3% against 2021 figures. Overall, imports, however, saw a slight contraction. The most prominent rate of growth was recorded in 2020 when imports increased by 38%. As a result, imports attained the peak of 130 tons. From 2021 to 2022, the growth of imports remained at a lower figure.
In value terms, spices; ginger, crushed or ground imports shrank modestly to $208K in 2022. Over the period under review, total imports indicated a buoyant increase from 2019 to 2022: its value increased at an average annual rate of +18.9% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +68.3% against 2019 indices. The growth pace was the most rapid in 2020 with an increase of 61%.
Import of Spices; Ginger, Crushed or Ground in Oman (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
India | 40.6 | 29.2 | 93.3 | 87.5 | 29.2% |
United Arab Emirates | 41.6 | 62.2 | 69.9 | 65.5 | 16.3% |
Kuwait | 2.6 | 6.5 | 16.8 | 15.7 | 82.1% |
China | 12.2 | 11.8 | 14.6 | 13.7 | 3.9% |
Pakistan | 4.4 | 8.5 | 2.5 | 4.9 | 3.7% |
Sri Lanka | 2.9 | 0.9 | 2.5 | 2.3 | -7.4% |
Bangladesh | 0.9 | 1.7 | 1.6 | 1.5 | 18.6% |
Nigeria | N/A | 16.8 | N/A | N/A | 0% |
Myanmar | N/A | 46.0 | N/A | N/A | 0% |
Others | 18.3 | 14.7 | 16.1 | 16.6 | -3.2% |
Total | 123 | 198 | 217 | 208 | 19.1% |
Top Suppliers of Spices; Ginger, Crushed or Ground to Oman in 2022:
- United Arab Emirates (34.2 tons)
- India (29.1 tons)
- China (14.0 tons)
- Sri Lanka (2.9 tons)
- Bangladesh (2.8 tons)
- Pakistan (2.4 tons)
- Kuwait (2.0 tons)
Exports of Spices; Ginger, Crushed or Ground in Oman
For the fourth consecutive year, Oman recorded growth in overseas shipments of spices; ginger, crushed or ground, which increased by 70% to 80 tons in 2022. In general, exports posted a significant increase. The growth pace was the most rapid in 2020 when exports increased by 298%. The exports peaked in 2022 and are expected to retain growth in the near future.
In value terms, spices; ginger, crushed or ground exports reached $127K in 2022. Over the period under review, exports posted significant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 193% against the previous year. As a result, the exports reached the peak of $143K. From 2021 to 2022, the growth of the exports failed to regain momentum.
Export of Spices; Ginger, Crushed or Ground in Oman (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Qatar | 29.7 | 143 | 111 | 127 | 62.3% |
Others | 19.1 | 0.1 | 0.1 | N/A | -92.8% |
Total | 48.8 | 143 | 111 | 127 | 37.6% |
Top Export Markets for Spices; Ginger, Crushed or Ground from Oman in 2022:
- Qatar (80.4 tons)
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In the wake of the pandemic, the ginger market has accelerated its growth as demand for foods with a reputation for immunity system health has soared to unprecedented heights. India, which almost tripled its export of ginger in 2020, may become a serious competitor to the main global supplier - China. The majority of the developed countries have increased the volume of imports, which, in the context of Covid restrictions and a shortage of container traffic, has led to an increase in prices for the product.
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