Spices; Turmeric (Curcuma) Price in Azerbaijan - 2023
Contents:
- Spices; Turmeric (Curcuma) Price in Azerbaijan (CIF) - 2022
- Spices; Turmeric (Curcuma) Imports in Azerbaijan
Spices; Turmeric (Curcuma) Price in Azerbaijan (CIF) - 2022
In 2021, the average spices; turmeric (curcuma) import price amounted to $1,343 per ton, picking up by 7.4% against the previous year. Over the last nine-year period, it increased at an average annual rate of +4.1%. The growth pace was the most rapid in 2013 an increase of 46%. Over the period under review, average import prices reached the maximum at $1,643 per ton in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Turkey ($6,094 per ton), while the price for Iran ($1,209 per ton) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Pakistan (+77.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Spices; Turmeric (Curcuma) Imports in Azerbaijan
For the fourth year in a row, Azerbaijan recorded growth in overseas purchases of spices; turmeric (curcuma), which increased by 3.7% to 529 tons in 2022. In general, total imports indicated a buoyant expansion from 2019 to 2022: its volume increased at an average annual rate of +17.9% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +64.1% against 2019 indices. The pace of growth was the most pronounced in 2021 with an increase of 38% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.
In value terms, spices; turmeric (curcuma) imports rose slightly to $714K in 2022. Over the period under review, total imports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +17.1% 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 increased by +60.4% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 48%. Imports peaked in 2022 and are expected to retain growth in years to come.
Import of Spices; Turmeric (Curcuma) in Azerbaijan (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | CAGR, 2019-2021 | |
India | 61.4 | 139 | 361 | 142.5% | |
Iran | N/A | N/A | 249 | 0% | |
Turkey | 43.9 | 69.5 | 68.5 | 24.9% | |
United Arab Emirates | 52.1 | 47.2 | N/A | -9.4% | |
Others | 287 | 208 | 6.4 | -85.1% | |
Total | 445 | 464 | 685 | 24.1% |
Top Suppliers of Spices; Turmeric (Curcuma) to Azerbaijan in 2022:
- India (288.2 tons)
- Iran (205.8 tons)
- Turkey (11.2 tons)
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Global ginger imports amounted to X thousand tons in 2015, picking up by +X% against the previous year level.
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>
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The global ginger production was estimated at X thousand tons in 2015, which was X thousand tons (or X%) more than in 2014.