Price for Spices; Ginger, Neither Crushed Nor Ground in the Philippines - 2023
Contents:
- Price for Spices; Ginger, Neither Crushed Nor Ground in the Philippines (CIF) - 2022
- Price for Spices; Ginger, Neither Crushed Nor Ground in the Philippines (FOB) - 2022
- Imports of Spices; Ginger, Neither Crushed Nor Ground in the Philippines
- Exports of Spices; Ginger, Neither Crushed Nor Ground in the Philippines
Price for Spices; Ginger, Neither Crushed Nor Ground in the Philippines (CIF) - 2022
In 2022, the average import price for spices; ginger, neither crushed nor ground amounted to $1,865 per ton, dropping by -22.9% against the previous year. In general, import price indicated a prominent increase from 2017 to 2022: its price increased at an average annual rate of +6.1% over the last five years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 an increase of 29% against the previous year. Over the period under review, average import prices hit record highs at $2,418 per ton in 2021, and then fell remarkably in the following year.
As there is only one major supplying country, the average price level is determined by prices for China.
From 2017 to 2022, the rate of growth in terms of prices for China amounted to +7.4% per year.
Price for Spices; Ginger, Neither Crushed Nor Ground in the Philippines (FOB) - 2022
In 2022, the average export price for spices; ginger, neither crushed nor ground amounted to $1,749 per ton, waning by -18.3% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of 102% against the previous year. The export price peaked at $4,944 per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.
As there is only one major export destination, the average price level is determined by prices for the United Arab Emirates.
From 2012 to 2022, the rate of growth in terms of prices for Bahrain amounted to +4.3% per year.
Imports of Spices; Ginger, Neither Crushed Nor Ground in the Philippines
In 2022, purchases abroad of spices; ginger, neither crushed nor ground decreased by -27.9% to 3.6K tons, falling for the second year in a row after two years of growth. Over the period under review, imports continue to indicate a noticeable decline. The most prominent rate of growth was recorded in 2020 with an increase of 62%. As a result, imports attained the peak of 6.3K 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 shrank dramatically to $6.8M in 2022. In general, imports showed a slight setback. The most prominent rate of growth was recorded in 2020 when imports increased by 100% against the previous year. As a result, imports reached the peak of $14M. From 2021 to 2022, the growth of imports of remained at a lower figure.
| Import of Spices; Ginger, Neither Crushed Nor Ground in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 6.8 | 13.6 | 11.5 | 6.7 | -0.5% |
| Others | 0.4 | 0.7 | 0.6 | N/A | 22.5% |
| Total | 7.1 | 14.3 | 12.2 | 6.8 | -1.4% |
Top Suppliers of Spices; Ginger, Neither Crushed Nor Ground to the Philippines in 2022:
- China (3.6K tons)
Exports of Spices; Ginger, Neither Crushed Nor Ground in the Philippines
In 2022, shipments abroad of spices; ginger, neither crushed nor ground decreased by -75.7% to 1.2 tons, falling for the second year in a row after two years of growth. Over the period under review, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of 558%. As a result, the exports reached the peak of 8.2 tons. From 2021 to 2022, the growth of the exports of failed to regain momentum.
In value terms, exports of spices; ginger, neither crushed nor ground shrank dramatically to $2.2K in 2022. In general, exports recorded a abrupt contraction. The most prominent rate of growth was recorded in 2020 with an increase of 503%. As a result, the exports attained the peak of $20K. From 2021 to 2022, the growth of the exports of remained at a lower figure.
| Export of Spices; Ginger, Neither Crushed Nor Ground in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Arab Emirates | 0.1 | 1.8 | 0.3 | 2.2 | 180.2% |
| Japan | 2.5 | 8.1 | 9.8 | N/A | 98.0% |
| Qatar | N/A | 9.3 | N/A | N/A | 0% |
| Bahrain | 0.1 | 0.5 | 0.7 | N/A | 164.6% |
| Others | 0.6 | 0.1 | 0.2 | N/A | -42.3% |
| Total | 3.3 | 19.8 | 11.0 | 2.2 | -12.6% |
Top Export Markets for Spices; Ginger, Neither Crushed Nor Ground from the Philippines in 2022:
- United Arab Emirates (1.2 tons)
5522
This report provides an in-depth analysis of the ginger market in the Philippines.
71
This report provides an in-depth analysis of the market for spices except pepper or ginger in the Philippines.
579
This report provides an in-depth analysis of the market for dog and cat food in the Philippines.
1466
This report provides an in-depth analysis of the apricot market in the Philippines.
1780
This report provides an in-depth analysis of the virgin olive oil market in the Philippines.
1338
This report provides an in-depth analysis of the paint and varnish market in the Philippines.
331
This report provides an in-depth analysis of the olive oil market in the Philippines.
537
This report provides an in-depth analysis of the encased lead pencil market in the Philippines.
296
This report provides an in-depth analysis of the assembled clock movements market in the Philippines.
386
This report provides an in-depth analysis of the diphosphorus pentaoxide market in the Philippines.
924
The global ginger market is forecast to reach USD 10.3 billion by 2030, growing at a CAGR of 4.7% during the forecast period (2022-2030).
1027
In the wake of the pandemic, the ginger market has accelerated its growth as demand for foods with a reputation for immunity system health has soared to unprecedented heights. India, which almost tripled its export of ginger in 2020, may become a serious competitor to the main global supplier - China. The majority of the developed countries have increased the volume of imports, which, in the context of Covid restrictions and a shortage of container traffic, has led to an increase in prices for the product.
786
The global ginger market revenue amounted to $5.3B in 2018, jumping by 2.8% against the previous year. This figure...
7509
Global ginger consumption amounted to X thousand tons in 2015, picking up by +X% against the previous year level.
8592
Global ginger imports amounted to X thousand tons in 2015, picking up by +X% against the previous year level.
1382
The global ginger market recorded a positive trend over the period under review, growing from X thousand tons in 2007 to X thousand tons in 2015 with a CAGR +X>
7889
The value of total imports on the global ginger market in 2015 stood at X million USD. There was an annual increase of +X% for the period from 2007 to 2015. In physical terms, imports of ginger was X thousand tons i
11871
In 2015, the leading ginger consuming markets were India (X%), Indonesia (X%), Nepal (X%), Nigeria (X%), and China (X%), together accounting for approximately X% of global consumption. These countries were also amongst the leading producers on the g
1624
From 2007 to 2015, global exports on the ginger market grew by +X% per year, amounting to X million USD in 2015. In physical terms, exports were X thousand tons in 2015, X thousand tons more than the year before.
3390
The global ginger production was estimated at X thousand tons in 2015, which was X thousand tons (or X%) more than in 2014.
