Price for Spices; Ginger, Crushed or Ground in Venezuela - 2022
Contents:
- Price for Spices; Ginger, Crushed or Ground in Venezuela (CIF) - 2022
- Imports of Spices; Ginger, Crushed or Ground in Venezuela
Price for Spices; Ginger, Crushed or Ground in Venezuela (CIF) - 2022
The average import price for spices; ginger, crushed or ground stood at $4,051 per ton in 2022, falling by -5% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the average import price increased by 27%. Over the period under review, average import prices reached the peak figure at $5,988 per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($4,407 per ton), while the price for Vietnam ($3,917 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+0.9%), while the prices for the other major suppliers experienced a decline.
Imports of Spices; Ginger, Crushed or Ground in Venezuela
For the fourth year in a row, Venezuela recorded growth in purchases abroad of spices; ginger, crushed or ground, which increased by 102% to 6 tons in 2022. Overall, imports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 159% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.
In value terms, spices; ginger, crushed or ground imports skyrocketed to $24K in 2022. In general, imports saw significant growth. The pace of growth was the most pronounced in 2020 when imports increased by 138% against the previous year. Imports peaked in 2022 and are likely to see steady growth in years to come.
| Import of Spices; Ginger, Crushed or Ground in Venezuela (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 1.8 | 1.8 | 6.7 | 7.0 | 57.3% |
| Vietnam | N/A | N/A | N/A | 5.8 | 0% |
| Lebanon | 2.7 | 9.1 | 5.5 | 5.5 | 26.8% |
| Others | N/A | N/A | 0.3 | 5.9 | 1866.7% |
| Total | 4.6 | 10.9 | 12.6 | 24.2 | 73.9% |
Top Suppliers of Spices; Ginger, Crushed or Ground to Venezuela in 2022:
- India (1.6 tons)
- Vietnam (1.5 tons)
- Lebanon (1.4 tons)
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