Price for Spices; Ginger, Neither Crushed Nor Ground in the UK - 2023
Contents:
- Price for Spices; Ginger, Neither Crushed Nor Ground in the UK (CIF) - 2023
- Price for Spices; Ginger, Neither Crushed Nor Ground in the UK (FOB) - 2022
- Imports of Spices; Ginger, Neither Crushed Nor Ground in the UK
- Exports of Spices; Ginger, Neither Crushed Nor Ground in the UK
Price for Spices; Ginger, Neither Crushed Nor Ground in the UK (CIF) - 2023
The average import price for spices; ginger, neither crushed nor ground stood at $2,679 per ton in December 2023, declining by -4.8% against the previous month. In general, import price indicated perceptible growth from December 2022 to December 2023: its price increased at an average monthly rate of +4.4% over the last twelve months. 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 -4.8% against November 2023 indices. The pace of growth appeared the most rapid in March 2023 an increase of 27% m-o-m. Over the period under review, average import prices reached the peak figure at $3,006 per ton in May 2023; however, from June 2023 to December 2023, import prices remained at a lower figure.
Average prices varied noticeably amongst the major supplying countries. In December 2023, the country with the highest price was China ($2,698 per ton), while the price for Peru ($2,612 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 Brazil (+5.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Spices; Ginger, Neither Crushed Nor Ground in the UK (FOB) - 2022
In 2022, the average export price for spices; ginger, neither crushed nor ground amounted to $2,590 per ton, dropping by -29.4% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 42% against the previous year. The export price peaked at $3,670 per ton in 2021, and then declined sharply in the following year.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($6,396 per ton), while the average price for exports to the Netherlands ($2,259 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 Poland (+8.3%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Spices; Ginger, Neither Crushed Nor Ground in the UK
In 2022, imports of spices; ginger, neither crushed nor ground into the UK expanded to 25K tons, picking up by 2.4% compared with 2021 figures. The total import volume increased at an average annual rate of +3.8% over the period from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when imports increased by 10%. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in years to come.
In value terms, imports of spices; ginger, neither crushed nor ground dropped remarkably to $38M in 2022. In general, total imports indicated a pronounced expansion from 2019 to 2022: its value increased at an average annual rate of +3.8% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of 47% against the previous year.
| Import of Spices; Ginger, Neither Crushed Nor Ground in the UK (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 24.8 | 35.3 | 40.5 | 29.0 | 5.4% |
| Peru | 0.1 | 1.6 | 2.3 | 3.7 | 233.2% |
| Brazil | 1.0 | 2.5 | 2.6 | 2.1 | 28.1% |
| Nigeria | 0.7 | 0.3 | 0.2 | 1.4 | 26.0% |
| Netherlands | 1.4 | 1.8 | 1.3 | 0.3 | -40.2% |
| Others | 6.3 | 8.7 | 4.3 | 1.8 | -34.1% |
| Total | 34.3 | 50.3 | 51.3 | 38.3 | 3.7% |
Top Suppliers of Spices; Ginger, Neither Crushed Nor Ground to the UK in 2022:
- China (19.8K tons)
- Peru (2.3K tons)
- Brazil (1.5K tons)
- Nigeria (0.5K tons)
- Netherlands (0.1K tons)
Exports of Spices; Ginger, Neither Crushed Nor Ground in the UK
In 2022, exports of spices; ginger, neither crushed nor ground from the UK totaled 528 tons, with an increase of 7.7% compared with the year before. Overall, exports, however, showed a perceptible reduction. The pace of growth appeared the most rapid in 2020 with an increase of 15% against the previous year. As a result, the exports attained the peak of 668 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 reduced markedly to $1.4M in 2022. Over the period under review, total exports indicated modest growth from 2019 to 2022: its value increased at an average annual rate of +1.2% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -27.5% against 2020 indices. The pace of growth was the most pronounced in 2020 when exports increased by 43% against the previous year. As a result, the exports reached the peak of $1.9M. 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 UK (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 31.4 | 404 | 310 | 569 | 162.7% |
| Ireland | 564 | 837 | 828 | 441 | -7.9% |
| Ghana | 189 | 185 | 302 | 200 | 1.9% |
| United States | 146 | 61.0 | 188 | 81.7 | -17.6% |
| Qatar | N/A | N/A | N/A | 34.0 | 0% |
| France | 137 | 3.9 | 41.0 | 3.1 | -71.7% |
| China | N/A | 76.5 | N/A | 1.4 | -86.5% |
| Belgium | 50.8 | 9.2 | N/A | N/A | -81.9% |
| Others | 201 | 309 | 127 | 36.7 | -43.3% |
| Total | 1,319 | 1,885 | 1,797 | 1,366 | 1.2% |
Top Export Markets for Spices; Ginger, Neither Crushed Nor Ground from the UK in 2022:
- Netherlands (251.6 tons)
- Ireland (154.6 tons)
- Ghana (41.3 tons)
- United States (12.8 tons)
- Qatar (8.8 tons)
- France (1.1 tons)
- China (0.2 tons)
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