Price for Spices; Ginger, Neither Crushed Nor Ground in Serbia - 2023
Contents:
- Price for Spices; Ginger, Neither Crushed Nor Ground in Serbia (CIF) - 2023
- Price for Spices; Ginger, Neither Crushed Nor Ground in Serbia (FOB) - 2022
- Imports of Spices; Ginger, Neither Crushed Nor Ground in Serbia
- Exports of Spices; Ginger, Neither Crushed Nor Ground in Serbia
Price for Spices; Ginger, Neither Crushed Nor Ground in Serbia (CIF) - 2023
In December 2023, the average import price for spices; ginger, neither crushed nor ground amounted to $4,339 per ton, standing approximately at the previous month. Over the period from December 2022 to December 2023, it increased at an average monthly rate of +3.9%. The growth pace was the most rapid in February 2023 when the average import price increased by 23% month-to-month. The import price peaked at $4,557 per ton in July 2023; however, from August 2023 to December 2023, import prices stood at a somewhat lower figure.
Average prices varied noticeably amongst the major supplying countries. In December 2023, the country with the highest price was China ($4,639 per ton), while the price for Brazil ($3,837 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 (+4.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Spices; Ginger, Neither Crushed Nor Ground in Serbia (FOB) - 2022
In 2022, the average export price for spices; ginger, neither crushed nor ground amounted to $2,769 per ton, picking up by 15% against the previous year. Over the period under review, the export price enjoyed a strong expansion. The most prominent rate of growth was recorded in 2020 an increase of 140%. Over the period under review, the average export prices reached the maximum at $5,317 per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Montenegro ($7,500 per ton), while the average price for exports to Bosnia and Herzegovina amounted to $2,717 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+34.6%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Spices; Ginger, Neither Crushed Nor Ground in Serbia
In 2022, supplies from abroad of spices; ginger, neither crushed nor ground decreased by -10.9% to 576 tons, falling for the second consecutive year after two years of growth. The total import volume increased at an average annual rate of +7.8% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by 43%. As a result, imports attained the peak of 657 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 dropped notably to $1.5M in 2022. In general, imports, however, recorded a buoyant increase. The most prominent rate of growth was recorded in 2020 when imports increased by 122%. As a result, imports reached the peak of $2.2M. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.
| Import of Spices; Ginger, Neither Crushed Nor Ground in Serbia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 850 | 1,853 | 1,564 | 1,060 | 7.6% |
| Brazil | 119 | 147 | 213 | 240 | 26.3% |
| Peru | 6.7 | 206 | 169 | 133 | 170.8% |
| Thailand | 5.5 | N/A | N/A | 41.5 | 96.1% |
| Others | 16.7 | 13.7 | 68.4 | 8.2 | -21.1% |
| Total | 998 | 2,219 | 2,015 | 1,483 | 14.1% |
Top Suppliers of Spices; Ginger, Neither Crushed Nor Ground to Serbia in 2022:
- China (369.6 tons)
- Brazil (128.6 tons)
- Peru (51.8 tons)
- Thailand (26.2 tons)
Exports of Spices; Ginger, Neither Crushed Nor Ground in Serbia
In 2022, after three years of growth, there was significant decline in shipments abroad of spices; ginger, neither crushed nor ground, when their volume decreased by -73.5% to 3.7 tons. In general, exports showed a deep contraction. The most prominent rate of growth was recorded in 2021 when exports increased by 115% against the previous year. As a result, the exports attained the peak of 14 tons, and then shrank significantly in the following year.
In value terms, exports of spices; ginger, neither crushed nor ground contracted rapidly to $10K in 2022. Overall, exports, however, saw strong growth. The most prominent rate of growth was recorded in 2020 with an increase of 203%.
| Export of Spices; Ginger, Neither Crushed Nor Ground in Serbia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Bosnia and Herzegovina | 2.2 | 7.0 | 26.8 | 9.8 | 64.5% |
| Montenegro | N/A | 0.7 | 6.5 | 0.3 | -34.5% |
| North Macedonia | 4.3 | N/A | N/A | N/A | 0% |
| Netherlands | N/A | 12.1 | N/A | N/A | 0% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 6.6 | 19.9 | 33.3 | 10.1 | 15.2% |
Top Export Markets for Spices; Ginger, Neither Crushed Nor Ground from Serbia in 2022:
- Bosnia and Herzegovina (3.6 tons)
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