Price for Spices; Ginger, Crushed or Ground in Thailand - 2023
Contents:
- Price for Spices; Ginger, Crushed or Ground in Thailand (FOB) - 2022
- Price for Spices; Ginger, Crushed or Ground in Thailand (CIF) - 2022
- Exports of Spices; Ginger, Crushed or Ground in Thailand
- Imports of Spices; Ginger, Crushed or Ground in Thailand
Price for Spices; Ginger, Crushed or Ground in Thailand (FOB) - 2022
In 2022, the average export price for spices; ginger, crushed or ground amounted to $5,134 per ton, declining by -31.2% against the previous year. Overall, the export price, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2013 when the average export price increased by 403%. Over the period under review, the average export prices hit record highs at $8,684 per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.
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 Norway ($16,124 per ton), while the average price for exports to the United States ($3,833 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 Pakistan (+15.8%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Spices; Ginger, Crushed or Ground in Thailand (CIF) - 2022
The average import price for spices; ginger, crushed or ground stood at $3,284 per ton in 2022, remaining stable against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 43%. As a result, import price reached the peak level of $4,866 per ton. From 2014 to 2022, the average import prices remained at a lower figure.
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 the Philippines ($8,662 per ton), while the price for China ($1,008 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+6.2%), while the prices for the other major suppliers experienced mixed trend patterns.
Exports of Spices; Ginger, Crushed or Ground in Thailand
In 2022, spices; ginger, crushed or ground exports from Thailand surged to 213 tons, jumping by 162% against the previous year's figure. Overall, exports enjoyed a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, spices; ginger, crushed or ground exports soared to $1.1M in 2022. In general, exports recorded a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Spices; Ginger, Crushed or Ground in Thailand (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 82.0 | 26.3 | 78.2 | 610 | 95.2% |
| Cambodia | 17.3 | 52.7 | 58.9 | 69.9 | 59.3% |
| Vietnam | 36.8 | 53.4 | 10.0 | 57.0 | 15.7% |
| Netherlands | 89.0 | 76.0 | 141 | 56.4 | -14.1% |
| Japan | 62.6 | 9.6 | 6.1 | 52.7 | -5.6% |
| United Kingdom | 38.3 | 12.1 | 12.9 | 18.3 | -21.8% |
| United Arab Emirates | 36.6 | 8.0 | 5.6 | 10.2 | -34.7% |
| Indonesia | N/A | N/A | 31.0 | N/A | 0% |
| Others | 242 | 296 | 262 | 220 | -3.1% |
| Total | 605 | 534 | 606 | 1,094 | 21.8% |
Top Export Markets for Spices; Ginger, Crushed or Ground from Thailand in 2022:
- United States (159.2 tons)
- Vietnam (14.1 tons)
- Netherlands (8.7 tons)
- Cambodia (7.2 tons)
- United Kingdom (3.7 tons)
- Japan (3.5 tons)
- United Arab Emirates (1.9 tons)
Imports of Spices; Ginger, Crushed or Ground in Thailand
After three years of growth, purchases abroad of spices; ginger, crushed or ground decreased by -0.7% to 112 tons in 2022. In general, imports, however, showed significant growth. The pace of growth appeared the most rapid in 2021 when imports increased by 70% against the previous year. As a result, imports attained the peak of 113 tons, leveling off in the following year.
In value terms, spices; ginger, crushed or ground imports shrank modestly to $368K in 2022. Overall, imports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2021 when imports increased by 61% against the previous year. As a result, imports reached the peak of $371K, leveling off in the following year.
| Import of Spices; Ginger, Crushed or Ground in Thailand (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 92.6 | 100 | 155 | 200 | 29.3% |
| Vietnam | 91.6 | 88.7 | 131 | 81.5 | -3.8% |
| Malaysia | 2.7 | 7.5 | 8.6 | 46.7 | 158.6% |
| China | 3.3 | 1.3 | 20.7 | 11.7 | 52.5% |
| Japan | 0.2 | 24.5 | 48.0 | 0.2 | 0.0% |
| Others | 13.0 | 7.6 | 7.4 | 27.8 | 28.8% |
| Total | 203 | 230 | 371 | 368 | 21.9% |
Top Suppliers of Spices; Ginger, Crushed or Ground to Thailand in 2022:
- India (63.6 tons)
- Vietnam (24.5 tons)
- China (11.6 tons)
- Malaysia (7.8 tons)
- Japan (0.1 tons)
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