Price for Spices; Ginger, Neither Crushed Nor Ground in Azerbaijan - 2023
Contents:
- Price for Spices; Ginger, Neither Crushed Nor Ground in Azerbaijan (CIF) - 2022
- Imports of Spices; Ginger, Neither Crushed Nor Ground in Azerbaijan
Price for Spices; Ginger, Neither Crushed Nor Ground in Azerbaijan (CIF) - 2022
In 2022, the average import price for spices; ginger, neither crushed nor ground amounted to $2,034 per ton, picking up by 38% against the previous year. Over the period under review, import price indicated a resilient increase from 2012 to 2022: its price increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for spices; ginger, neither crushed nor ground increased by +135.3% against 2016 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($2,050 per ton), while the price for Brazil ($1,997 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Peru (+24.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Imports of Spices; Ginger, Neither Crushed Nor Ground in Azerbaijan
In 2022, supplies from abroad of spices; ginger, neither crushed nor ground decreased by -26.2% to 354 tons, falling for the second year in a row after two years of growth. Over the period under review, total imports indicated a perceptible increase from 2019 to 2022: its volume increased at an average annual rate of +2.2% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -39.2% against 2020 indices. The pace of growth was the most pronounced in 2020 with an increase of 76%. As a result, imports reached the peak of 582 tons. From 2021 to 2022, the growth of imports of failed to regain momentum.
In value terms, imports of spices; ginger, neither crushed nor ground amounted to $720K in 2022. Overall, total imports indicated a significant increase from 2019 to 2022: its value increased at an average annual rate of +20.2% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -7.7% against 2020 indices. The pace of growth was the most pronounced in 2020 with an increase of 88% against the previous year. As a result, imports attained the peak of $780K. From 2021 to 2022, the growth of imports of failed to regain momentum.
| Import of Spices; Ginger, Neither Crushed Nor Ground in Azerbaijan (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 127 | 230 | 172 | 430 | 50.2% |
| Brazil | 51.1 | 75.9 | 144 | 265 | 73.1% |
| Peru | 9.6 | 7.7 | 21.8 | 1.8 | -42.8% |
| Russia | N/A | 49.9 | N/A | N/A | 0% |
| Netherlands | 98.7 | 191 | 171 | N/A | 31.6% |
| Others | 127 | 226 | 198 | 23.0 | -43.4% |
| Total | 414 | 780 | 706 | 720 | 20.3% |
Top Suppliers of Spices; Ginger, Neither Crushed Nor Ground to Azerbaijan in 2022:
- China (209.6 tons)
- Brazil (132.9 tons)
- Peru (0.9 tons)
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