Price for Spices; Ginger, Neither Crushed Nor Ground in Thailand - 2024
Contents:
- Price for Spices; Ginger, Neither Crushed Nor Ground in Thailand (FOB) - 2024
- Price for Spices; Ginger, Neither Crushed Nor Ground in Thailand (CIF) - 2024
- Exports of Spices; Ginger, Neither Crushed Nor Ground in Thailand
- Imports of Spices; Ginger, Neither Crushed Nor Ground in Thailand
Price for Spices; Ginger, Neither Crushed Nor Ground in Thailand (FOB) - 2024
The average export price for spices; ginger, neither crushed nor ground stood at $786 per ton in January 2024, increasing by 11% against the previous month. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in August 2023 when the average export price increased by 23% against the previous month. As a result, the export price attained the peak level of $1,133 per ton. From September 2023 to January 2024, the the average export prices failed to regain momentum.
There were significant differences in the average prices for the major external markets. In January 2024, the country with the highest price was the United States ($1,949 per ton), while the average price for exports to China ($327 per ton) was amongst the lowest.
From January 2023 to January 2024, the most notable rate of growth in terms of prices was recorded for supplies to China (+2.3%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Spices; Ginger, Neither Crushed Nor Ground in Thailand (CIF) - 2024
In January 2024, the average import price for spices; ginger, neither crushed nor ground amounted to $412 per ton, dropping by -31.9% against the previous month. Over the period under review, the import price saw a noticeable shrinkage. The most prominent rate of growth was recorded in March 2023 when the average import price increased by 116% month-to-month. Over the period under review, average import prices attained the peak figure at $1,056 per ton in November 2023; however, from December 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 China ($798 per ton), while the price for Lao People's Democratic Republic stood at $125 per ton.
From January 2023 to January 2024, the most notable rate of growth in terms of prices was attained by Vietnam (+11.6%), while the prices for the other major suppliers experienced a decline.
Exports of Spices; Ginger, Neither Crushed Nor Ground in Thailand
In 2022, approx. 99K tons of spices; ginger, neither crushed nor ground were exported from Thailand; growing by 59% compared with 2021 figures. Over the period under review, total exports indicated a prominent increase from 2019 to 2022: its volume increased at an average annual rate of +12.6% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +60.0% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, exports of spices; ginger, neither crushed nor ground stood at $55M in 2022. Overall, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of 9.1% against the previous year. As a result, the exports attained the peak of $60M. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.
| Export of Spices; Ginger, Neither Crushed Nor Ground in Thailand (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Pakistan | 20.1 | 33.2 | 23.2 | 29.5 | 13.6% |
| Japan | 10.9 | 12.5 | 13.7 | 13.6 | 7.7% |
| Malaysia | 0.5 | 0.3 | 1.1 | 5.2 | 118.3% |
| Netherlands | 1.8 | 0.7 | 1.5 | 1.6 | -3.9% |
| China | 1.5 | 1.1 | 1.7 | 0.4 | -35.6% |
| Bangladesh | 5.9 | 0.1 | N/A | 0.2 | -67.6% |
| Indonesia | 7.3 | 4.5 | 0.7 | N/A | -69.0% |
| Others | 7.0 | 7.9 | 9.8 | 4.9 | -11.2% |
| Total | 55.2 | 60.2 | 51.7 | 55.4 | 0.1% |
Top Export Markets for Spices; Ginger, Neither Crushed Nor Ground from Thailand in 2022:
- Pakistan (73.4K tons)
- Japan (9.6K tons)
- Malaysia (8.1K tons)
- Netherlands (1.6K tons)
- China (1.0K tons)
- Bangladesh (0.5K tons)
- Indonesia (0.1K tons)
Imports of Spices; Ginger, Neither Crushed Nor Ground in Thailand
In 2022, imports of spices; ginger, neither crushed nor ground into Thailand skyrocketed to 17K tons, rising by 72% against the previous year's figure. Overall, imports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 188% against the previous year. Over the period under review, imports of attained the peak figure in 2022 and are expected to retain growth in years to come.
In value terms, imports of spices; ginger, neither crushed nor ground skyrocketed to $17M in 2022. In general, imports continue to indicate a significant increase. The growth pace was the most rapid in 2020 when imports increased by 232% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.
| Import of Spices; Ginger, Neither Crushed Nor Ground in Thailand (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 2.2 | 7.0 | 7.7 | 16.4 | 95.3% |
| Myanmar | N/A | 0.9 | 0.8 | 0.1 | -66.7% |
| Lao People's Democratic Republic | 0.2 | N/A | 0.1 | N/A | -29.3% |
| Others | N/A | 0.1 | 0.5 | 0.2 | 41.4% |
| Total | 2.4 | 8.1 | 9.0 | 16.7 | 90.9% |
Top Suppliers of Spices; Ginger, Neither Crushed Nor Ground to Thailand in 2022:
- China (16.8K tons)
- Myanmar (0.1K tons)
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