Spices; Turmeric (Curcuma) Price in Australia - 2023
Contents:
- Spices; Turmeric (Curcuma) Price in Australia (CIF) - 2023
- Spices; Turmeric (Curcuma) Price in Australia (FOB) - 2022
- Spices; Turmeric (Curcuma) Imports in Australia
- Spices; Turmeric (Curcuma) Exports in Australia
Spices; Turmeric (Curcuma) Price in Australia (CIF) - 2023
In July 2023, the average spices; turmeric (curcuma) import price amounted to $2,039 per ton, growing by 6.1% against the previous month. Over the period under review, the import price, however, continues to indicate a slight setback. The most prominent rate of growth was recorded in August 2022 an increase of 37% month-to-month. As a result, import price reached the peak level of $3,448 per ton. From September 2022 to July 2023, the average import prices remained at a lower figure.
Average prices varied noticeably amongst the major supplying countries. In July 2023, the country with the highest price was Malaysia ($2,282 per ton), while the price for India totaled $1,962 per ton.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Malaysia (-1.3%).
Spices; Turmeric (Curcuma) Price in Australia (FOB) - 2022
The average spices; turmeric (curcuma) export price stood at $13,801 per ton in 2021, which is down by -83.8% against the previous year. Overall, the export price, however, continues to indicate prominent growth. The most prominent rate of growth was recorded in 2013 when the average export price increased by 146% against the previous year. Over the period under review, the average export prices reached the maximum at $85,077 per ton in 2020, and then contracted rapidly in the following year.
There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Canada ($31,912 per ton), while the average price for exports to Malaysia ($4,168 per ton) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+65.1%), while the prices for the other major destinations experienced more modest paces of growth.
Spices; Turmeric (Curcuma) Imports in Australia
In 2022, approx. 1.6K tons of spices; turmeric (curcuma) were imported into Australia; picking up by 10% against the year before. Overall, total imports indicated a resilient increase from 2019 to 2022: its volume increased at an average annual rate of +15.6% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -22.6% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 100%. As a result, imports attained the peak of 2K tons. From 2021 to 2022, the growth of imports remained at a lower figure.
In value terms, spices; turmeric (curcuma) imports rose remarkably to $3.9M in 2022. In general, total imports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +18.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -3.3% against 2020 indices. The pace of growth was the most pronounced in 2020 with an increase of 70%. As a result, imports reached the peak of $4.1M. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
| Import of Spices; Turmeric (Curcuma) in Australia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | CAGR, 2019-2021 | |
| India | 1,920 | 3,333 | 2,423 | 12.3% | |
| China | 6.9 | 127 | 341 | 603.0% | |
| Malaysia | 263 | 291 | 267 | 0.8% | |
| Canada | N/A | N/A | 55.2 | 0% | |
| Others | 204 | 319 | 435 | 46.0% | |
| Total | 2,394 | 4,070 | 3,522 | 21.3% | |
Top Suppliers of Spices; Turmeric (Curcuma) to Australia in 2022:
- India (1065.9 tons)
- China (153.5 tons)
- Malaysia (108.5 tons)
- Canada (27.4 tons)
Spices; Turmeric (Curcuma) Exports in Australia
In 2022, shipments abroad of spices; turmeric (curcuma) decreased by -10.4% to 149 tons for the first time since 2018, thus ending a three-year rising trend. In general, exports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2021 when exports increased by 568% against the previous year. As a result, the exports reached the peak of 166 tons, and then declined in the following year.
In value terms, spices; turmeric (curcuma) exports dropped notably to $383K in 2022. Over the period under review, exports saw a precipitous decline. The most prominent rate of growth was recorded in 2020 when exports increased by 125%.
| Export of Spices; Turmeric (Curcuma) in Australia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | CAGR, 2019-2021 | |
| United States | 362 | 226 | 986 | 65.0% | |
| Singapore | 204 | 134 | 855 | 104.7% | |
| United Kingdom | 158 | 4.0 | 300 | 37.8% | |
| New Zealand | 93.4 | 9.1 | 53.0 | -24.7% | |
| Malaysia | 12.4 | 3.6 | 18.1 | 20.8% | |
| India | 33.4 | 1.5 | N/A | -95.5% | |
| Others | 79.8 | 1,740 | 82.4 | 1.6% | |
| Total | 943 | 2,119 | 2,295 | 56.0% | |
Top Export Markets for Spices; Turmeric (Curcuma) from Australia in 2022:
- United States (122.8 tons)
- Singapore (74.9 tons)
- United Kingdom (28.6 tons)
- New Zealand (12.5 tons)
- Malaysia (4.3 tons)
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