Price for Spices; Ginger, Neither Crushed Nor Ground in Canada - 2023
Contents:
- Price for Spices; Ginger, Neither Crushed Nor Ground in Canada (CIF) - 2023
- Price for Spices; Ginger, Neither Crushed Nor Ground in Canada (FOB) - 2022
- Imports of Spices; Ginger, Neither Crushed Nor Ground in Canada
- Exports of Spices; Ginger, Neither Crushed Nor Ground in Canada
Price for Spices; Ginger, Neither Crushed Nor Ground in Canada (CIF) - 2023
In December 2023, the average import price for spices; ginger, neither crushed nor ground amounted to $2,268 per ton, declining by -20.7% against the previous month. Overall, import price indicated a tangible expansion from December 2022 to December 2023: its price increased at an average monthly rate of +2.7% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on December 2023 figures, import price for spices; ginger, neither crushed nor ground decreased by -20.7% against November 2023 indices. The most prominent rate of growth was recorded in January 2023 when the average import price increased by 45% month-to-month. Over the period under review, average import prices reached the maximum at $3,308 per ton in June 2023; however, from July 2023 to December 2023, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In December 2023, the country with the highest price was India ($3,290 per ton), while the price for China ($2,026 per ton) was amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by Peru (+3.9%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Spices; Ginger, Neither Crushed Nor Ground in Canada (FOB) - 2022
In 2022, the average export price for spices; ginger, neither crushed nor ground amounted to $2,800 per ton, growing by 7.8% against the previous year. Overall, the export price, however, continues to indicate a perceptible reduction. The growth pace was the most rapid in 2021 when the average export price increased by 21% against the previous year. The export price peaked at $4,567 per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.
Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to China ($3,727 per ton) and the UK ($2,673 per ton), while the average price for exports to the United States ($2,526 per ton) and Saint Kitts and Nevis ($2,670 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+3.2%), while the prices for the other major destinations experienced a decline.
Imports of Spices; Ginger, Neither Crushed Nor Ground in Canada
In 2022, supplies from abroad of spices; ginger, neither crushed nor ground decreased by -1.4% to 20K tons for the first time since 2018, thus ending a three-year rising trend. The total import volume increased at an average annual rate of +5.1% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The growth pace was the most rapid in 2020 when imports increased by 11% against the previous year.
In value terms, imports of spices; ginger, neither crushed nor ground fell rapidly to $32M in 2022. In general, total imports indicated a buoyant expansion from 2019 to 2022: its value increased at an average annual rate of +5.6% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of 40% against the previous year.
| Import of Spices; Ginger, Neither Crushed Nor Ground in Canada (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 21.5 | 27.4 | 30.8 | 21.9 | 0.6% |
| Peru | 3.5 | 7.1 | 6.9 | 7.8 | 30.6% |
| Others | 2.5 | 3.9 | 4.2 | 2.6 | 1.3% |
| Total | 27.4 | 38.3 | 42.0 | 32.3 | 5.6% |
Top Suppliers of Spices; Ginger, Neither Crushed Nor Ground to Canada in 2022:
- China (15.0K tons)
- Peru (4.2K tons)
Exports of Spices; Ginger, Neither Crushed Nor Ground in Canada
For the third year in a row, Canada recorded decline in overseas shipments of spices; ginger, neither crushed nor ground, which decreased by -45.4% to 53 tons in 2022. In general, exports continue to indicate a significant decrease. The smallest decline of -32.6% was in 2020.
In value terms, exports of spices; ginger, neither crushed nor ground declined notably to $148K in 2022. Over the period under review, exports faced a sharp setback. The smallest decline of -28.8% was in 2020.
| Export of Spices; Ginger, Neither Crushed Nor Ground in Canada (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 655 | 450 | 212 | 90.1 | -48.4% |
| China | N/A | N/A | N/A | 41.7 | 0% |
| Saint Kitts and Nevis | N/A | N/A | 14.2 | 10.0 | -29.6% |
| United Kingdom | N/A | N/A | 3.2 | 3.7 | 15.6% |
| Thailand | 20.0 | N/A | N/A | N/A | 0% |
| Egypt | N/A | 30.3 | N/A | N/A | 0% |
| Others | 1.8 | 1.3 | 22.2 | 2.8 | 15.9% |
| Total | 677 | 482 | 252 | 148 | -39.8% |
Top Export Markets for Spices; Ginger, Neither Crushed Nor Ground from Canada in 2022:
- United States (35.7 tons)
- China (11.2 tons)
- Saint Kitts and Nevis (3.7 tons)
- United Kingdom (1.4 tons)
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