Price for Spices; Ginger, Crushed or Ground in Turkey - 2023
Contents:
- Price for Spices; Ginger, Crushed or Ground in Turkey (FOB) - 2022
- Price for Spices; Ginger, Crushed or Ground in Turkey (CIF) - 2022
- Exports of Spices; Ginger, Crushed or Ground in Turkey
- Imports of Spices; Ginger, Crushed or Ground in Turkey
Price for Spices; Ginger, Crushed or Ground in Turkey (FOB) - 2022
The average export price for spices; ginger, crushed or ground stood at $5,557 per ton in 2022, increasing by 96% against the previous year. Over the period under review, the export price, however, recorded a noticeable decrease. The export price peaked at $8,210 per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Azerbaijan ($8,421 per ton), while the average price for exports to Egypt ($2,000 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 Egypt (+92.3%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Spices; Ginger, Crushed or Ground in Turkey (CIF) - 2022
The average import price for spices; ginger, crushed or ground stood at $3,843 per ton in 2022, reducing by -27.2% against the previous year. In general, import price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of +2.1% 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 +55.7% against 2018 indices. The pace of growth appeared the most rapid in 2021 when the average import price increased by 75% against the previous year. Over the period under review, average import prices reached the maximum at $5,290 per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($11,308 per ton), while the price for China ($2,752 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+4.8%), while the prices for the other major suppliers experienced a decline.
Exports of Spices; Ginger, Crushed or Ground in Turkey
In 2022, overseas shipments of spices; ginger, crushed or ground decreased by -56.6% to 69 tons for the first time since 2018, thus ending a three-year rising trend. In general, exports, however, continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2021 when exports increased by 184%. As a result, the exports attained the peak of 160 tons, and then contracted significantly in the following year.
In value terms, spices; ginger, crushed or ground exports dropped to $386K in 2022. Over the period under review, exports, however, saw a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 135% against the previous year.
| Export of Spices; Ginger, Crushed or Ground in Turkey (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Kingdom | 36.5 | 67.0 | 99.1 | 102 | 40.9% |
| Germany | 15.3 | 24.0 | 32.5 | 49.7 | 48.1% |
| France | 6.7 | 6.2 | 13.7 | 28.7 | 62.4% |
| Switzerland | 1.2 | 9.7 | 22.0 | 27.7 | 184.7% |
| Sweden | 4.5 | 8.2 | 12.3 | 23.2 | 72.8% |
| Netherlands | 16.8 | 17.5 | 23.8 | 18.2 | 2.7% |
| Cyprus | 10.7 | 13.2 | 16.0 | 18.0 | 18.9% |
| Iraq | 17.4 | 20.6 | 14.2 | 15.3 | -4.2% |
| Australia | 1.2 | 1.2 | N/A | 14.2 | 127.9% |
| Azerbaijan | 8.9 | 7.6 | 14.6 | 13.8 | 15.7% |
| Iran | N/A | N/A | N/A | 12.9 | 0% |
| Hungary | 3.2 | 2.0 | 1.9 | 6.3 | 25.3% |
| Egypt | N/A | N/A | 98.0 | N/A | 0% |
| Others | 15.3 | 147 | 105 | 55.8 | 53.9% |
| Total | 138 | 324 | 453 | 386 | 40.9% |
Top Export Markets for Spices; Ginger, Crushed or Ground from Turkey in 2022:
- Egypt (undefined tons)
- United Kingdom (18.9 tons)
- Germany (8.3 tons)
- France (4.7 tons)
- Cyprus (4.4 tons)
- Iran (4.0 tons)
- Sweden (4.0 tons)
- Australia (3.6 tons)
- Switzerland (3.4 tons)
- Netherlands (3.3 tons)
- Iraq (2.8 tons)
- Hungary (1.8 tons)
- Azerbaijan (1.6 tons)
Imports of Spices; Ginger, Crushed or Ground in Turkey
After three years of growth, overseas purchases of spices; ginger, crushed or ground decreased by -10.1% to 41 tons in 2022. Over the period under review, imports, however, saw significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 142%.
In value terms, spices; ginger, crushed or ground imports dropped remarkably to $158K in 2022. Overall, imports, however, showed significant growth. The most prominent rate of growth was recorded in 2020 when imports increased by 125% against the previous year.
| Import of Spices; Ginger, Crushed or Ground in Turkey (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 30.8 | 61.1 | 78.6 | 80.3 | 37.6% |
| Nigeria | 6.5 | 2.2 | 129 | 54.8 | 103.5% |
| China | 1.5 | 14.9 | 22.8 | 11.4 | 96.6% |
| Germany | N/A | 0.4 | 7.7 | 7.6 | 335.9% |
| Netherlands | 8.6 | N/A | 0.1 | 0.8 | -54.7% |
| United Arab Emirates | 0.4 | 29.3 | N/A | N/A | 7225.0% |
| Others | 0.2 | 0.5 | 3.3 | 3.3 | 154.6% |
| Total | 48.1 | 108 | 242 | 158 | 48.7% |
Top Suppliers of Spices; Ginger, Crushed or Ground to Turkey in 2022:
- India (21.5 tons)
- Nigeria (14.0 tons)
- China (4.1 tons)
- Germany (0.7 tons)
- Netherlands (0.3 tons)
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