Price for Spices; Ginger, Crushed or Ground in Sri Lanka - 2021
Contents:
- Price for Spices; Ginger, Crushed or Ground in Sri Lanka (FOB) - 2022
- Price for Spices; Ginger, Crushed or Ground in Sri Lanka (CIF) - 2022
- Exports of Spices; Ginger, Crushed or Ground in Sri Lanka
- Imports of Spices; Ginger, Crushed or Ground in Sri Lanka
Price for Spices; Ginger, Crushed or Ground in Sri Lanka (FOB) - 2022
In 2022, the average export price for spices; ginger, crushed or ground amounted to $8,944 per ton, declining by -11.3% against the previous year. Over the period under review, export price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of +3.4% 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 increased by +45.2% against 2020 indices. The growth pace was the most rapid in 2021 when the average export price increased by 64%. The export price peaked at $10,763 per ton in 2018; however, from 2019 to 2022, the 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 Japan ($15,704 per ton), while the average price for exports to the UK ($5,288 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 Ghana (+18.1%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Spices; Ginger, Crushed or Ground in Sri Lanka (CIF) - 2022
In 2022, the average import price for spices; ginger, crushed or ground amounted to $6,996 per ton, picking up by 32% against the previous year. In general, the import price saw a tangible expansion. The most prominent rate of growth was recorded in 2019 when the average import price increased by 55% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in years to come.
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 Germany ($13,188 per ton), while the price for Poland stood at $1,563 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Myanmar (+18.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Spices; Ginger, Crushed or Ground in Sri Lanka
Spices; ginger, crushed or ground exports from Sri Lanka totaled 43 tons in 2022, approximately mirroring the year before. The total export volume increased at an average annual rate of +12.2% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 with an increase of 44%. As a result, the exports reached the peak of 43 tons. From 2021 to 2022, the growth of the exports remained at a lower figure.
In value terms, spices; ginger, crushed or ground exports declined to $380K in 2022. In general, total exports indicated a buoyant expansion 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, exports increased by +67.9% against 2019 indices. The pace of growth appeared the most rapid in 2021 with an increase of 58%. As a result, the exports attained the peak of $424K, and then dropped in the following year.
| Export of Spices; Ginger, Crushed or Ground in Sri Lanka (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Ghana | N/A | N/A | N/A | 211 | 0% |
| France | 44.0 | 16.9 | 17.9 | 40.1 | -3.0% |
| Switzerland | 6.4 | 6.3 | 16.9 | 32.8 | 72.4% |
| United Kingdom | 5.8 | 7.6 | 23.1 | 22.9 | 58.1% |
| United States | 8.4 | 32.5 | 83.9 | 12.7 | 14.8% |
| Japan | 4.1 | 5.6 | 7.3 | 10.2 | 35.5% |
| Canada | 21.9 | 13.6 | 13.1 | 7.1 | -31.3% |
| Germany | 18.3 | 33.7 | 15.9 | 2.2 | -50.6% |
| Cote d'Ivoire | N/A | 31.7 | N/A | N/A | 0% |
| Belgium | 19.0 | 35.1 | 18.6 | N/A | -1.1% |
| Poland | 7.3 | 5.1 | 2.3 | N/A | -43.9% |
| Oman | 4.4 | 1.0 | 2.3 | N/A | -27.7% |
| Others | 87.1 | 78.1 | 222 | 41.2 | -22.1% |
| Total | 227 | 267 | 424 | 380 | 18.7% |
Top Export Markets for Spices; Ginger, Crushed or Ground from Sri Lanka in 2022:
- Ghana (27.0 tons)
- United Kingdom (4.3 tons)
- Switzerland (3.9 tons)
- France (2.6 tons)
- United States (0.9 tons)
- Canada (0.7 tons)
- Japan (0.6 tons)
- Germany (0.2 tons)
Imports of Spices; Ginger, Crushed or Ground in Sri Lanka
In 2022, the amount of spices; ginger, crushed or ground imported into Sri Lanka shrank significantly to 8 kg, with a decrease of -99.6% on the year before. In general, imports saw a significant decrease. The most prominent rate of growth was recorded in 2021 when imports increased by 24%.
In value terms, spices; ginger, crushed or ground imports dropped dramatically to $53 in 2022. Overall, imports recorded a sharp curtailment. The most prominent rate of growth was recorded in 2021 when imports increased by 2%.
| Import of Spices; Ginger, Crushed or Ground in Sri Lanka (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Thailand | 4.7 | N/A | N/A | N/A | 0% |
| Germany | 13.1 | 9.0 | 6.6 | N/A | -29.0% |
| China | 3.5 | 0.4 | 2.5 | N/A | -15.5% |
| India | 1.6 | 1.9 | 2.2 | N/A | 17.3% |
| Poland | N/A | N/A | N/A | N/A | 0% |
| Singapore | 0.5 | 0.3 | 0.3 | N/A | -22.5% |
| Others | N/A | N/A | 0.2 | N/A | 0% |
| Total | 23.4 | 11.7 | 11.9 | 0.1 | -83.8% |
Top Suppliers of Spices; Ginger, Crushed or Ground to Sri Lanka in 2022:
- Poland (4.0 kg)
- Germany (4.0 kg)
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