Price for Spices; Ginger, Neither Crushed Nor Ground in New Zealand - 2024
Contents:
- Price for Spices; Ginger, Neither Crushed Nor Ground in New Zealand (CIF) - 2024
- Price for Spices; Ginger, Neither Crushed Nor Ground in New Zealand (FOB) - 2022
- Imports of Spices; Ginger, Neither Crushed Nor Ground in New Zealand
- Exports of Spices; Ginger, Neither Crushed Nor Ground in New Zealand
Price for Spices; Ginger, Neither Crushed Nor Ground in New Zealand (CIF) - 2024
The average import price for spices; ginger, neither crushed nor ground stood at $2,606 per ton in January 2024, shrinking by -8.8% against the previous month. In general, import price indicated temperate growth from January 2023 to January 2024: its price increased at an average monthly rate of +3.7% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on January 2024 figures, import price for spices; ginger, neither crushed nor ground decreased by -15.2% against November 2023 indices. The pace of growth appeared the most rapid in March 2023 an increase of 25% m-o-m. The import price peaked at $3,074 per ton in November 2023; however, from December 2023 to January 2024, import prices stood at a somewhat lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Thailand ($5,869 per ton), while the price for China ($2,145 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 Thailand (+11.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Spices; Ginger, Neither Crushed Nor Ground in New Zealand (FOB) - 2022
The average export price for spices; ginger, neither crushed nor ground stood at $2,902 per ton in 2022, which is down by -33.8% against the previous year. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 42%. Over the period under review, the average export prices attained the maximum at $5,270 per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.
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 French Polynesia ($5,914 per ton), while the average price for exports to Thailand ($1,902 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 French Polynesia (+10.8%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Spices; Ginger, Neither Crushed Nor Ground in New Zealand
After three years of growth, supplies from abroad of spices; ginger, neither crushed nor ground decreased by -19.6% to 1.6K tons in 2022. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 12% against the previous year. As a result, imports attained the peak of 2K tons, and then declined remarkably in the following year.
In value terms, imports of spices; ginger, neither crushed nor ground shrank rapidly to $2.9M in 2022. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 50% against the previous year.
| Import of Spices; Ginger, Neither Crushed Nor Ground in New Zealand (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Thailand | 2.8 | 2.7 | 3.6 | 2.1 | -9.1% |
| China | N/A | 1.4 | 1.6 | 0.6 | -34.5% |
| Fiji | 0.1 | 0.2 | 0.2 | 0.1 | 0.0% |
| Others | N/A | 0.1 | 0.1 | 0.1 | 0.0% |
| Total | 2.9 | 4.4 | 5.4 | 2.9 | 0.0% |
Top Suppliers of Spices; Ginger, Neither Crushed Nor Ground to New Zealand in 2022:
- Thailand (1212.5 tons)
- China (344.4 tons)
- Fiji (29.5 tons)
Exports of Spices; Ginger, Neither Crushed Nor Ground in New Zealand
In 2022, exports of spices; ginger, neither crushed nor ground from New Zealand totaled 79 tons, growing by 13% on 2021 figures. Overall, total exports indicated a buoyant increase from 2019 to 2022: its volume increased at an average annual rate of +9.9% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +103.9% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 80% against the previous year. Over the period under review, the exports of attained the peak figure in 2022 and are likely to see steady growth in years to come.
In value terms, exports of spices; ginger, neither crushed nor ground contracted rapidly to $228K in 2022. In general, total exports indicated a buoyant increase from 2019 to 2022: its value increased at an average annual rate of +6.6% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +35.0% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 80%. As a result, the exports attained the peak of $304K, and then contracted dramatically in the following year.
| Export of Spices; Ginger, Neither Crushed Nor Ground in New Zealand (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Thailand | N/A | N/A | 73.9 | 81.5 | 10.3% |
| New Caledonia | 78.2 | 76.6 | 123 | 59.5 | -8.7% |
| Tonga | 28.0 | 41.9 | 34.9 | 36.2 | 8.9% |
| Kiribati | 1.1 | 6.1 | 9.8 | 14.8 | 137.8% |
| Cook Islands | 16.3 | 12.8 | 12.1 | 13.9 | -5.2% |
| French Polynesia | 4.1 | 0.9 | 8.1 | 13.5 | 48.8% |
| Wallis and Futuna Islands | 3.3 | 4.6 | 7.9 | 3.3 | 0.0% |
| Singapore | N/A | N/A | 29.0 | N/A | 0% |
| Australia | 54.6 | 22.6 | N/A | N/A | -58.6% |
| Others | 2.6 | 3.4 | 4.7 | 5.2 | 26.0% |
| Total | 188 | 169 | 304 | 228 | 6.6% |
Top Export Markets for Spices; Ginger, Neither Crushed Nor Ground from New Zealand in 2022:
- Thailand (42.9 tons)
- New Caledonia (15.9 tons)
- Tonga (8.3 tons)
- Kiribati (3.8 tons)
- Cook Islands (3.5 tons)
- French Polynesia (2.3 tons)
- Wallis and Futuna Islands (0.7 tons)
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