Price for Spices; Ginger, Crushed or Ground in Spain - 2023
Contents:
- Price for Spices; Ginger, Crushed or Ground in Spain (CIF) - 2022
- Price for Spices; Ginger, Crushed or Ground in Spain (FOB) - 2022
- Imports of Spices; Ginger, Crushed or Ground in Spain
- Exports of Spices; Ginger, Crushed or Ground in Spain
Price for Spices; Ginger, Crushed or Ground in Spain (CIF) - 2022
In 2022, the average import price for spices; ginger, crushed or ground amounted to $4,672 per ton, surging by 13% against the previous year. Overall, import price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of +7.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, spices; ginger, crushed or ground import price decreased by -9.4% against 2020 indices. The pace of growth appeared the most rapid in 2018 when the average import price increased by 35%. Over the period under review, average import prices reached the maximum at $5,155 per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.
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 Albania ($12,105 per ton), while the price for China ($1,462 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+7.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Spices; Ginger, Crushed or Ground in Spain (FOB) - 2022
In 2022, the average export price for spices; ginger, crushed or ground amounted to $3,823 per ton, growing by 18% against the previous year. Over the period under review, export price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, spices; ginger, crushed or ground export price decreased by -28.3% against 2019 indices. The pace of growth was the most pronounced in 2019 an increase of 22% against the previous year. As a result, the export price reached the peak level of $5,330 per ton. From 2020 to 2022, the average export prices remained at a lower figure.
There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Austria ($8,303 per ton), while the average price for exports to Italy ($1,116 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 Austria (+130.5%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Spices; Ginger, Crushed or Ground in Spain
In 2022, purchases abroad of spices; ginger, crushed or ground decreased by -6.8% to 804 tons for the first time since 2018, thus ending a three-year rising trend. In general, total imports indicated a buoyant expansion from 2019 to 2022: its volume increased at an average annual rate of +16.1% 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 +56.5% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 67%. As a result, imports reached the peak of 862 tons, and then dropped in the following year.
In value terms, spices; ginger, crushed or ground imports rose remarkably to $3.8M in 2022. Over the period under review, total imports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +18.8% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +67.7% against 2019 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 34%. Imports peaked in 2022 and are expected to retain growth in the immediate term.
| Import of Spices; Ginger, Crushed or Ground in Spain (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Albania | 900 | 1,184 | 1,439 | 1,593 | 21.0% |
| Nigeria | 218 | 169 | 575 | 634 | 42.7% |
| Germany | 78.9 | 91.3 | 198 | 318 | 59.1% |
| India | 62.7 | 69.8 | 288 | 307 | 69.8% |
| Netherlands | 174 | 72.1 | 140 | 268 | 15.5% |
| China | 152 | 44.1 | 367 | 181 | 6.0% |
| France | 115 | 377 | 292 | 144 | 7.8% |
| Peru | 0.9 | 30.9 | 70.6 | 90.4 | 364.8% |
| Poland | 397 | 456 | 25.9 | 63.6 | -45.7% |
| Italy | 71.3 | 40.0 | 58.8 | 59.8 | -5.7% |
| Others | 71.1 | 120 | 110 | 98.9 | 11.6% |
| Total | 2,240 | 2,654 | 3,564 | 3,756 | 18.8% |
Top Suppliers of Spices; Ginger, Crushed or Ground to Spain in 2022:
- Nigeria (167.3 tons)
- Albania (131.6 tons)
- China (123.5 tons)
- India (111.0 tons)
- France (75.5 tons)
- Netherlands (65.6 tons)
- Peru (50.5 tons)
- Germany (43.0 tons)
- Italy (13.6 tons)
- Poland (13.1 tons)
Exports of Spices; Ginger, Crushed or Ground in Spain
In 2022, after three years of growth, there was significant decline in shipments abroad of spices; ginger, crushed or ground, when their volume decreased by -18.1% to 813 tons. Over the period under review, exports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 65% against the previous year. As a result, the exports attained the peak of 992 tons, and then declined sharply in the following year.
In value terms, spices; ginger, crushed or ground exports shrank to $3.1M in 2022. The total export value increased at an average annual rate of +11.7% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when exports increased by 23%.
| Export of Spices; Ginger, Crushed or Ground in Spain (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| France | 779 | 1,013 | 769 | 1,088 | 11.8% |
| United Kingdom | 102 | 374 | 421 | 357 | 51.8% |
| Cayman Islands | 41.3 | 27.9 | 74.9 | 316 | 97.1% |
| Netherlands | 12.7 | 100 | 343 | 217 | 157.6% |
| Germany | 29.5 | 58.3 | 54.2 | 155 | 73.8% |
| Belgium | 83.0 | 113 | 175 | 129 | 15.8% |
| Austria | N/A | N/A | 154 | 88.3 | -42.7% |
| Italy | 62.4 | 85.5 | 91.2 | 81.0 | 9.1% |
| Japan | 594 | 366 | 372 | N/A | -20.9% |
| Others | 528 | 608 | 762 | 674 | 8.5% |
| Total | 2,231 | 2,748 | 3,216 | 3,106 | 11.7% |
Top Export Markets for Spices; Ginger, Crushed or Ground from Spain in 2022:
- France (322.2 tons)
- United Kingdom (75.4 tons)
- Italy (72.5 tons)
- Netherlands (63.7 tons)
- Germany (50.6 tons)
- Cayman Islands (50.4 tons)
- Belgium (38.9 tons)
- Austria (10.6 tons)
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