Spices; Turmeric (Curcuma) Price in Canada - 2023
Contents:
- Spices; Turmeric (Curcuma) Price in Canada (CIF) - 2023
- Spices; Turmeric (Curcuma) Price in Canada (FOB) - 2022
- Spices; Turmeric (Curcuma) Imports in Canada
- Spices; Turmeric (Curcuma) Exports in Canada
Spices; Turmeric (Curcuma) Price in Canada (CIF) - 2023
In June 2023, the average spices; turmeric (curcuma) import price amounted to $3,301 per ton, picking up by 14% against the previous month. In general, import price indicated modest growth from June 2022 to June 2023: its price increased at an average monthly rate of +1.2% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on June 2023 figures, spices; turmeric (curcuma) import price decreased by -22.5% against March 2023 indices. The pace of growth was the most pronounced in July 2022 when the average import price increased by 111% m-o-m. As a result, import price attained the peak level of $6,004 per ton. From August 2022 to June 2023, the average import prices remained at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In June 2023, the country with the highest price was the United States ($11,646 per ton), while the price for India ($2,488 per ton) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by China (+0.0%), while the prices for the other major suppliers experienced a decline.
Spices; Turmeric (Curcuma) Price in Canada (FOB) - 2022
In 2021, the average spices; turmeric (curcuma) export price amounted to $8,835 per ton, rising by 190% against the previous year. Overall, the export price showed a buoyant expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.
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 the United States ($4,925 per ton), while the average price for exports to Australia ($2,712 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 Jamaica (+6.5%), while the prices for the other major destinations experienced more modest paces of growth.
Spices; Turmeric (Curcuma) Imports in Canada
In 2022, overseas purchases of spices; turmeric (curcuma) decreased by -1.3% to 2.1K tons for the first time since 2018, thus ending a three-year rising trend. In general, total imports indicated a strong expansion from 2019 to 2022: its volume increased at an average annual rate of +15.2% 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 +53.0% against 2019 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 48%.
In value terms, spices; turmeric (curcuma) imports shrank to $8.4M in 2022. The total import value increased at an average annual rate of +7.6% from 2019 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 18% against the previous year. As a result, imports attained the peak of $8.5M, and then reduced modestly in the following year.
| Import of Spices; Turmeric (Curcuma) in Canada (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | CAGR, 2019-2021 | |
| India | 1,627 | 2,438 | 3,784 | 52.5% | |
| Japan | 229 | 1,587 | 2,553 | 233.9% | |
| United States | 3,212 | 2,269 | 916 | -46.6% | |
| Peru | 275 | 422 | 475 | 31.4% | |
| Vietnam | 69.9 | 119 | 178 | 59.6% | |
| China | 2.0 | 1.4 | 154 | 777.5% | |
| Costa Rica | 13.2 | 51.1 | 51.8 | 98.1% | |
| Others | 1,319 | 304 | 407 | -44.5% | |
| Total | 6,748 | 7,192 | 8,518 | 12.4% | |
Top Suppliers of Spices; Turmeric (Curcuma) to Canada in 2022:
- India (1458.7 tons)
- Japan (233.5 tons)
- Peru (183.9 tons)
- United States (96.2 tons)
- Vietnam (86.0 tons)
- China (42.2 tons)
- Costa Rica (34.4 tons)
Spices; Turmeric (Curcuma) Exports in Canada
In 2022, overseas shipments of spices; turmeric (curcuma) decreased by -16% to 43 tons, falling for the second consecutive year after two years of growth. In general, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 23% against the previous year. As a result, the exports attained the peak of 52 tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
In value terms, spices; turmeric (curcuma) exports plummeted to $166K in 2022. Over the period under review, exports, however, recorded a remarkable increase. The most prominent rate of growth was recorded in 2021 with an increase of 184% against the previous year. As a result, the exports reached the peak of $453K, and then contracted significantly in the following year.
| Export of Spices; Turmeric (Curcuma) in Canada (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | CAGR, 2019-2021 | |
| United States | 23.0 | 84.5 | 353 | 291.8% | |
| Australia | N/A | N/A | 55.6 | 0% | |
| Taiwan (Chinese) | 6.2 | 17.7 | 19.5 | 77.3% | |
| Hong Kong SAR | 0.6 | 9.8 | 13.0 | 365.5% | |
| United Arab Emirates | N/A | N/A | 8.7 | 0% | |
| Trinidad and Tobago | 11.1 | N/A | N/A | 0% | |
| India | 10.2 | N/A | N/A | 0% | |
| Guyana | 45.9 | 44.9 | N/A | -2.2% | |
| Others | 2.3 | 2.3 | 2.3 | 0.0% | |
| Total | 99.4 | 159 | 453 | 113.5% | |
Top Export Markets for Spices; Turmeric (Curcuma) from Canada in 2022:
- United States (71.7 tons)
- Australia (20.5 tons)
- Taiwan (Chinese) (7.1 tons)
- Hong Kong SAR (4.8 tons)
- United Arab Emirates (3.2 tons)
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