Price for Spices; Ginger, Crushed or Ground in Singapore - 2022
Contents:
- Price for Spices; Ginger, Crushed or Ground in Singapore (CIF) - 2022
- Price for Spices; Ginger, Crushed or Ground in Singapore (FOB) - 2022
- Imports of Spices; Ginger, Crushed or Ground in Singapore
- Exports of Spices; Ginger, Crushed or Ground in Singapore
Price for Spices; Ginger, Crushed or Ground in Singapore (CIF) - 2022
The average import price for spices; ginger, crushed or ground stood at $4,383 per ton in 2022, shrinking by -41.2% against the previous year. Over the period under review, the import price, however, showed a perceptible expansion. The pace of growth appeared the most rapid in 2021 an increase of 89%. As a result, import price reached the peak level of $7,454 per ton, and then dropped markedly 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 Japan ($9,403 per ton), while the price for Myanmar ($2,205 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+11.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Spices; Ginger, Crushed or Ground in Singapore (FOB) - 2022
The average export price for spices; ginger, crushed or ground stood at $20,230 per ton in 2022, dropping by -2.4% against the previous year. Overall, the export price, however, recorded buoyant growth. The most prominent rate of growth was recorded in 2013 when the average export price increased by 134%. The export price peaked at $20,731 per ton in 2021, and then dropped modestly in the following year.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($37,368 per ton), while the average price for exports to Malaysia ($5,383 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 Kenya (+25.5%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Spices; Ginger, Crushed or Ground in Singapore
In 2022, approx. 180 tons of spices; ginger, crushed or ground were imported into Singapore; increasing by 253% compared with the year before. In general, imports recorded a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, spices; ginger, crushed or ground imports skyrocketed to $789K in 2022. Overall, imports saw a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Spices; Ginger, Crushed or Ground in Singapore (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Myanmar | 93.8 | 207 | 10.9 | 223 | 33.5% |
| China | 75.0 | 108 | 47.6 | 149 | 25.7% |
| India | 34.9 | 39.5 | 86.4 | 113 | 47.9% |
| Malaysia | 52.7 | 19.3 | 36.9 | 62.1 | 5.6% |
| Japan | 19.6 | 16.3 | 27.6 | 36.2 | 22.7% |
| Indonesia | 0.3 | 1.6 | 20.4 | 26.7 | 346.5% |
| Others | 42.8 | 46.8 | 150 | 179 | 61.1% |
| Total | 319 | 438 | 380 | 789 | 35.2% |
Top Suppliers of Spices; Ginger, Crushed or Ground to Singapore in 2022:
- Myanmar (100.9 tons)
- China (36.7 tons)
- India (18.2 tons)
- Malaysia (9.3 tons)
- Japan (3.8 tons)
- Indonesia (3.1 tons)
Exports of Spices; Ginger, Crushed or Ground in Singapore
For the fourth year in a row, Singapore recorded growth in shipments abroad of spices; ginger, crushed or ground, which increased by 22% to 15 tons in 2022. Overall, exports recorded a significant increase. The pace of growth was the most pronounced in 2020 when exports increased by 107%. Over the period under review, the exports attained the maximum in 2022 and are likely to see gradual growth in the near future.
In value terms, spices; ginger, crushed or ground exports skyrocketed to $303K in 2022. Over the period under review, exports saw a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 151%. The exports peaked in 2022 and are expected to retain growth in the immediate term.
| Export of Spices; Ginger, Crushed or Ground in Singapore (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 17.9 | 52.1 | 66.8 | 86.7 | 69.2% |
| United States | 8.0 | 62.6 | 44.4 | 57.5 | 93.0% |
| Canada | 12.1 | 7.6 | 26.9 | 34.9 | 42.3% |
| Australia | 7.2 | 42.0 | 26.2 | 34.0 | 67.8% |
| Russia | 12.2 | 19.7 | 25.8 | 33.5 | 40.0% |
| Malaysia | 2.8 | 8.7 | 14.7 | 19.1 | 89.7% |
| Brunei Darussalam | 0.1 | 3.6 | 3.0 | 3.9 | 239.1% |
| Hong Kong SAR | N/A | 4.8 | 4.8 | N/A | 0.0% |
| Others | 32.8 | 32.3 | 41.9 | 33.2 | 0.4% |
| Total | 93.1 | 233 | 254 | 303 | 48.2% |
Top Export Markets for Spices; Ginger, Crushed or Ground from Singapore in 2022:
- Malaysia (3.5 tons)
- Russia (3.1 tons)
- Netherlands (2.3 tons)
- United States (1.6 tons)
- Canada (1.0 tons)
- Australia (1.0 tons)
- Brunei Darussalam (0.6 tons)
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