Price for Spices; Ginger, Crushed or Ground in the United States - 2023
Contents:
- Price for Spices; Ginger, Crushed or Ground in the United States (CIF) - 2022
- Price for Spices; Ginger, Crushed or Ground in the United States (FOB) - 2023
- Imports of Spices; Ginger, Crushed or Ground in the United States
- Exports of Spices; Ginger, Crushed or Ground in the United States
Price for Spices; Ginger, Crushed or Ground in the United States (CIF) - 2022
In 2022, the average import price for spices; ginger, crushed or ground amounted to $4,138 per ton, remaining constant against the previous year. In general, import price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of +6.6% 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 increased by +38.7% against 2017 indices. The pace of growth was the most pronounced in 2014 an increase of 30%. Over the period under review, average import prices hit record highs at $4,151 per ton in 2021, and then dropped in the following year.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Israel ($10,394 per ton), while the price for China ($2,417 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (+11.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Spices; Ginger, Crushed or Ground in the United States (FOB) - 2023
The average export price for spices; ginger, crushed or ground stood at $1,915 per ton in July 2023, declining by -22.1% against the previous month. Over the period under review, the export price saw a mild setback. The most prominent rate of growth was recorded in January 2023 when the average export price increased by 44% month-to-month. As a result, the export price reached the peak level of $2,555 per ton. From February 2023 to July 2023, the the average export prices failed to regain momentum.
Prices varied noticeably by the country of destination: the country with the highest price was the Dominican Republic ($4,697 per ton), while the average price for exports to Japan ($1,515 per ton) was amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+1.4%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Spices; Ginger, Crushed or Ground in the United States
Spices; ginger, crushed or ground imports into the United States surged to 5.4K tons in 2022, rising by 23% compared with the previous year. The total import volume increased at an average annual rate of +11.4% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, spices; ginger, crushed or ground imports surged to $22M in 2022. Overall, total imports indicated buoyant growth from 2019 to 2022: its value increased at an average annual rate of +18.3% 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 +65.4% against 2019 indices. The pace of growth appeared the most rapid in 2020 with an increase of 38%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in years to come.
| Import of Spices; Ginger, Crushed or Ground in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 4.7 | 5.8 | 6.2 | 6.7 | 12.5% |
| China | 4.7 | 3.9 | 4.1 | 4.8 | 0.7% |
| Israel | 1.0 | 3.1 | 2.0 | 2.4 | 33.9% |
| Thailand | 0.1 | 1.2 | 1.0 | 2.3 | 184.4% |
| Peru | 0.2 | 0.6 | 0.6 | 1.3 | 86.6% |
| Vietnam | 0.4 | 0.9 | 1.1 | 1.2 | 44.2% |
| Nigeria | 0.3 | 0.6 | 0.5 | 0.7 | 32.6% |
| Australia | 0.8 | 1.0 | 0.4 | 0.6 | -9.1% |
| Mexico | 0.3 | 0.3 | 0.2 | N/A | -18.4% |
| Others | 1.0 | 1.2 | 2.1 | 2.3 | 32.0% |
| Total | 13.5 | 18.6 | 18.2 | 22.3 | 18.2% |
Top Suppliers of Spices; Ginger, Crushed or Ground to the United States in 2022:
- China (1996.3 tons)
- India (1582.7 tons)
- Peru (425.1 tons)
- Vietnam (274.6 tons)
- Thailand (252.6 tons)
- Israel (233.0 tons)
- Nigeria (175.3 tons)
- Australia (102.2 tons)
- Mexico (20.5 tons)
Exports of Spices; Ginger, Crushed or Ground in the United States
In 2022, overseas shipments of spices; ginger, crushed or ground decreased by -15% to 1.1K tons, falling for the second year in a row after two years of growth. The total export volume increased at an average annual rate of +3.7% 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 when exports increased by 37%. As a result, the exports reached the peak of 1.3K tons. From 2021 to 2022, the growth of the exports failed to regain momentum.
In value terms, spices; ginger, crushed or ground exports fell notably to $2.1M in 2022. Overall, exports continue to indicate a mild slump. The most prominent rate of growth was recorded in 2020 with an increase of 36%. As a result, the exports reached the peak of $2.9M. From 2021 to 2022, the growth of the exports failed to regain momentum.
| Export of Spices; Ginger, Crushed or Ground in the United States (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 995 | 1,182 | 1,502 | 1,259 | 8.2% |
| Japan | 321 | 801 | 246 | 415 | 8.9% |
| Taiwan (Chinese) | N/A | 8.2 | 76.7 | 71.5 | 195.3% |
| Mexico | 156 | 258 | 87.1 | 67.1 | -24.5% |
| Dominican Republic | 58.8 | 182 | 50.4 | 63.6 | 2.7% |
| Germany | N/A | N/A | 5.2 | 31.8 | 511.5% |
| India | 276 | N/A | 130 | N/A | -31.4% |
| Others | 336 | 482 | 512 | 169 | -20.5% |
| Total | 2,142 | 2,912 | 2,609 | 2,077 | -1.0% |
Top Export Markets for Spices; Ginger, Crushed or Ground from the United States in 2022:
- Canada (604.6 tons)
- Japan (274.3 tons)
- Taiwan (Chinese) (47.3 tons)
- Mexico (35.3 tons)
- Dominican Republic (29.4 tons)
- Germany (21.0 tons)
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