Price for Spices; Ginger, Neither Crushed Nor Ground in Australia - 2024
Contents:
- Price for Spices; Ginger, Neither Crushed Nor Ground in Australia (CIF) - 2024
- Price for Spices; Ginger, Neither Crushed Nor Ground in Australia (FOB) - 2024
- Imports of Spices; Ginger, Neither Crushed Nor Ground in Australia
- Exports of Spices; Ginger, Neither Crushed Nor Ground in Australia
Price for Spices; Ginger, Neither Crushed Nor Ground in Australia (CIF) - 2024
In January 2024, the average import price for spices; ginger, neither crushed nor ground amounted to $3,275 per ton, which is down by -29.6% against the previous month. Overall, the import price continues to indicate a perceptible curtailment. The pace of growth was the most pronounced in December 2023 an increase of 84% month-to-month. The import price peaked at $4,665 per ton in January 2023; however, from February 2023 to January 2024, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In January 2024, the country with the highest price was India ($7,832 per ton), while the price for Vietnam ($2,021 per ton) was amongst the lowest.
From January 2023 to January 2024, the most notable rate of growth in terms of prices was attained by India (+0.3%), while the prices for the other major suppliers experienced a decline.
Price for Spices; Ginger, Neither Crushed Nor Ground in Australia (FOB) - 2024
In January 2024, the average export price for spices; ginger, neither crushed nor ground amounted to $5,363 per ton, which is down by -28.6% against the previous month. Overall, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in September 2023 an increase of 113% month-to-month. As a result, the export price attained the peak level of $15,228 per ton. From October 2023 to January 2024, the the average export prices failed to regain momentum.
Average prices varied somewhat for the major foreign markets. In January 2024, the country with the highest price was New Zealand ($7,398 per ton), while the average price for exports to the United States totaled $5,125 per ton.
From January 2023 to January 2024, the most notable rate of growth in terms of prices was recorded for supplies to New Zealand (+4.3%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Spices; Ginger, Neither Crushed Nor Ground in Australia
In 2022, supplies from abroad of spices; ginger, neither crushed nor ground decreased by -6.2% to 1.1K tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, imports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 164%. As a result, imports attained the peak of 1.1K tons, and then shrank in the following year.
In value terms, imports of spices; ginger, neither crushed nor ground fell to $2.8M in 2022. In general, imports, however, showed significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 156%.
| Import of Spices; Ginger, Neither Crushed Nor Ground in Australia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Fiji | 21.4 | 243 | 733 | 1,548 | 316.7% |
| Vietnam | 102 | 182 | 962 | 448 | 63.8% |
| China | 253 | 659 | 647 | 319 | 8.0% |
| India | 82.5 | 82.4 | 268 | 163 | 25.5% |
| Mexico | N/A | N/A | 78.5 | 81.3 | 3.6% |
| Thailand | 38.5 | 113 | 317 | 44.1 | 4.6% |
| Others | 41.7 | 98.9 | 127 | 200 | 68.6% |
| Total | 539 | 1,378 | 3,133 | 2,803 | 73.3% |
Top Suppliers of Spices; Ginger, Neither Crushed Nor Ground to Australia in 2022:
- Fiji (607.3 tons)
- Vietnam (230.9 tons)
- China (127.9 tons)
- India (22.3 tons)
- Mexico (18.4 tons)
- Thailand (11.7 tons)
Exports of Spices; Ginger, Neither Crushed Nor Ground in Australia
In 2022, approx. 57 tons of spices; ginger, neither crushed nor ground were exported from Australia; rising by 211% compared with 2021. In general, exports enjoyed significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, exports of spices; ginger, neither crushed nor ground surged to $349K in 2022. Overall, exports recorded a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Spices; Ginger, Neither Crushed Nor Ground in Australia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| New Zealand | 101 | 99.9 | 113 | 173 | 19.6% |
| United Kingdom | N/A | N/A | 6.9 | 153 | 2117.4% |
| Germany | 38.9 | N/A | N/A | 9.9 | -36.6% |
| Singapore | 9.9 | 18.8 | N/A | 5.6 | -17.3% |
| Others | 8.9 | 13.0 | 49.4 | 6.6 | -9.5% |
| Total | 159 | 132 | 169 | 349 | 30.0% |
Top Export Markets for Spices; Ginger, Neither Crushed Nor Ground from Australia in 2022:
- United Kingdom (29.5 tons)
- New Zealand (23.9 tons)
- Germany (1.9 tons)
- Singapore (0.5 tons)
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