Price for Spices; Ginger, Crushed or Ground in Russia - 2022
Contents:
- Price for Spices; Ginger, Crushed or Ground in Russia (CIF) - 2022
- Price for Spices; Ginger, Crushed or Ground in Russia (FOB) - 2022
- Imports of Spices; Ginger, Crushed or Ground in Russia
- Exports of Spices; Ginger, Crushed or Ground in Russia
Price for Spices; Ginger, Crushed or Ground in Russia (CIF) - 2022
The average import price for spices; ginger, crushed or ground stood at $4,776 per ton in January 2022, jumping by 18% against the previous month. Overall, the import price, however, showed a mild contraction. The most prominent rate of growth was recorded in March 2021 when the average import price increased by 59% against the previous month. The import price peaked at $6,738 per ton in April 2021; however, from May 2021 to January 2022, import prices stood at a somewhat lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was China ($6,793 per ton), while the price for India ($2,825 per ton) was amongst the lowest.
From January 2021 to January 2022, the most notable rate of growth in terms of prices was attained by Spain (+2.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Spices; Ginger, Crushed or Ground in Russia (FOB) - 2022
The average export price for spices; ginger, crushed or ground stood at $2,434 per ton in 2022, dropping by -7.3% against the previous year. Overall, the export price recorded a abrupt shrinkage. The growth pace was the most rapid in 2013 when the average export price increased by 28% against the previous year. As a result, the export price reached the peak level of $7,224 per ton. From 2014 to 2022, the average export prices failed to regain momentum.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Kazakhstan ($3,070 per ton), while the average price for exports to Turkmenistan ($531 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 Belarus (-5.5%), while the prices for the other major destinations experienced a decline.
Imports of Spices; Ginger, Crushed or Ground in Russia
In 2022, after three years of growth, there was significant decline in supplies from abroad of spices; ginger, crushed or ground, when their volume decreased by -12% to 353 tons. Over the period under review, total imports indicated a strong increase from 2019 to 2022: its volume increased at an average annual rate of +16.9% 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 +59.8% against 2019 indices. The pace of growth was the most pronounced in 2020 with an increase of 56%.
In value terms, spices; ginger, crushed or ground imports shrank to $1.4M in 2022. Overall, total imports indicated a significant increase from 2019 to 2022: its value increased at an average annual rate of +21.3% 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 +78.6% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 58% against the previous year.
| Import of Spices; Ginger, Crushed or Ground in Russia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Nigeria | 132 | 389 | 328 | 566 | 62.5% |
| Vietnam | 40.9 | 35.9 | 85.4 | 147 | 53.2% |
| China | 360 | 575 | 723 | 125 | -29.7% |
| Germany | 27.8 | 21.9 | 37.2 | 111 | 58.6% |
| Latvia | 38.3 | N/A | N/A | 84.1 | 30.0% |
| India | 90.0 | 42.1 | 311 | 53.5 | -15.9% |
| Peru | 8.7 | N/A | N/A | 31.8 | 54.0% |
| Others | 74.9 | 153 | 57.5 | 261 | 51.6% |
| Total | 773 | 1,218 | 1,542 | 1,380 | 21.3% |
Top Suppliers of Spices; Ginger, Crushed or Ground to Russia in 2022:
- Nigeria (196.4 tons)
- Latvia (30.6 tons)
- Vietnam (28.6 tons)
- Peru (19.6 tons)
- Germany (17.0 tons)
- India (16.0 tons)
- China (15.6 tons)
Exports of Spices; Ginger, Crushed or Ground in Russia
In 2022, approx. 83 tons of spices; ginger, crushed or ground were exported from Russia; picking up by 7.3% against the year before. Over the period under review, total exports indicated significant growth from 2019 to 2022: its volume increased at an average annual rate of +27.8% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +108.5% against 2019 indices. The pace of growth was the most pronounced in 2020 with an increase of 68% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.
In value terms, spices; ginger, crushed or ground exports reduced modestly to $203K in 2022. In general, total exports indicated a significant expansion from 2019 to 2022: its value increased at an average annual rate of +22.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +81.4% against 2019 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 80% against the previous year.
| Export of Spices; Ginger, Crushed or Ground in Russia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Kazakhstan | 46.9 | 92.4 | 76.5 | 101 | 29.1% |
| Belarus | 28.3 | 41.6 | 58.2 | 75.9 | 38.9% |
| Turkmenistan | 1.6 | 9.5 | 8.6 | 3.3 | 27.3% |
| Ukraine | 22.8 | 30.2 | 22.7 | 1.1 | -63.6% |
| Others | 12.2 | 27.9 | 37.7 | 21.5 | 20.8% |
| Total | 112 | 202 | 204 | 203 | 21.9% |
Top Export Markets for Spices; Ginger, Crushed or Ground from Russia in 2022:
- Belarus (40.4 tons)
- Kazakhstan (32.9 tons)
- Turkmenistan (6.3 tons)
- Ukraine (0.3 tons)
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