Price for Spices; Ginger, Crushed or Ground in the UK - 2023
Contents:
- Price for Spices; Ginger, Crushed or Ground in the UK (CIF) - 2023
- Price for Spices; Ginger, Crushed or Ground in the UK (FOB) - 2022
- Imports of Spices; Ginger, Crushed or Ground in the UK
- Exports of Spices; Ginger, Crushed or Ground in the UK
Price for Spices; Ginger, Crushed or Ground in the UK (CIF) - 2023
In May 2023, the average import price for spices; ginger, crushed or ground amounted to $1,911 per ton, reducing by -12.8% against the previous month. Overall, the import price recorded a slight curtailment. The pace of growth was the most pronounced in December 2022 when the average import price increased by 94% m-o-m. The import price peaked at $3,966 per ton in August 2022; however, from September 2022 to May 2023, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In May 2023, the country with the highest price was Nigeria ($7,552 per ton), while the price for China ($1,191 per ton) was amongst the lowest.
From May 2022 to May 2023, the most notable rate of growth in terms of prices was attained by the Netherlands (+12.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Spices; Ginger, Crushed or Ground in the UK (FOB) - 2022
In 2022, the average export price for spices; ginger, crushed or ground amounted to $3,659 per ton, declining by -21.6% against the previous year. Overall, the export price saw a perceptible setback. The pace of growth appeared the most rapid in 2014 when the average export price increased by 34% against the previous year. As a result, the export price attained the peak level of $5,885 per ton. From 2015 to 2022, the average export prices remained at a somewhat lower figure.
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 United States ($6,998 per ton), while the average price for exports to Somalia ($1,911 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 the United States (+4.4%), while the prices for the other major destinations experienced a decline.
Imports of Spices; Ginger, Crushed or Ground in the UK
After three years of growth, supplies from abroad of spices; ginger, crushed or ground decreased by -22% to 4.9K tons in 2022. Over the period under review, total imports indicated a prominent increase from 2019 to 2022: its volume increased at an average annual rate of +9.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +30.4% against 2019 indices. The pace of growth was the most pronounced in 2021 when imports increased by 39% against the previous year. As a result, imports attained the peak of 6.3K tons, and then fell rapidly in the following year.
In value terms, spices; ginger, crushed or ground imports fell significantly to $11M in 2022. In general, total imports indicated a tangible increase from 2019 to 2022: its value increased at an average annual rate of +3.7% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 when imports increased by 41% against the previous year.
| Import of Spices; Ginger, Crushed or Ground in the UK (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 1.5 | 2.0 | 4.4 | 4.4 | 43.1% |
| India | 1.9 | 2.1 | 3.4 | 2.1 | 3.4% |
| Vietnam | 0.3 | 0.6 | 0.6 | 1.4 | 67.1% |
| Pakistan | 1.3 | 1.1 | 1.0 | 0.7 | -18.6% |
| Nigeria | 0.1 | 0.1 | 1.0 | 0.7 | 91.3% |
| Germany | 1.9 | 2.7 | 2.2 | 0.5 | -35.9% |
| Spain | 0.1 | 0.4 | 0.2 | 0.3 | 44.2% |
| Netherlands | 1.1 | 1.4 | 0.5 | 0.2 | -43.3% |
| Thailand | N/A | 0.2 | 0.2 | 0.1 | -29.3% |
| Belgium | 0.8 | 2.3 | 0.4 | N/A | -29.3% |
| Others | 0.8 | 1.2 | 0.9 | 0.4 | -20.6% |
| Total | 9.9 | 13.9 | 14.9 | 11.0 | 3.6% |
Top Suppliers of Spices; Ginger, Crushed or Ground to the UK in 2022:
- China (3224.4 tons)
- India (563.6 tons)
- Vietnam (315.9 tons)
- Pakistan (177.2 tons)
- Nigeria (144.0 tons)
- Germany (118.5 tons)
- Thailand (77.0 tons)
- Spain (74.2 tons)
- Netherlands (71.8 tons)
- Belgium (10.9 tons)
Exports of Spices; Ginger, Crushed or Ground in the UK
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 -44.7% to 413 tons. Overall, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when exports increased by 59%.
In value terms, spices; ginger, crushed or ground exports declined sharply to $1.5M in 2022. In general, exports faced a drastic downturn. The pace of growth was the most pronounced in 2020 when exports increased by 50% against the previous year.
| Export of Spices; Ginger, Crushed or Ground in the UK (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 56.0 | 196 | 2,283 | 544 | 113.4% |
| Ireland | 196 | 308 | 302 | 312 | 16.8% |
| Germany | 1,192 | 1,986 | 193 | 262 | -39.7% |
| France | 103 | 118 | 114 | 104 | 0.3% |
| Poland | 41.3 | 58.4 | 75.6 | 88.0 | 28.7% |
| Somalia | N/A | N/A | N/A | 37.8 | 0% |
| Italy | 119 | 195 | 5.2 | 24.5 | -41.0% |
| Austria | 151 | 157 | 15.9 | N/A | -67.6% |
| Others | 356 | 310 | 494 | 138 | -27.1% |
| Total | 2,215 | 3,329 | 3,482 | 1,509 | -12.0% |
Top Export Markets for Spices; Ginger, Crushed or Ground from the UK in 2022:
- Netherlands (141.7 tons)
- Germany (109.5 tons)
- Ireland (58.2 tons)
- Poland (33.0 tons)
- France (25.3 tons)
- Somalia (19.8 tons)
- Italy (11.8 tons)
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