Spices; Turmeric (Curcuma) Price in Colombia - 2022
Contents:
- Spices; Turmeric (Curcuma) Price in Colombia (CIF) - 2022
- Spices; Turmeric (Curcuma) Price in Colombia (FOB) - 2022
- Spices; Turmeric (Curcuma) Imports in Colombia
- Spices; Turmeric (Curcuma) Exports in Colombia
Spices; Turmeric (Curcuma) Price in Colombia (CIF) - 2022
The average spices; turmeric (curcuma) import price stood at $1,747 per ton in 2022, increasing by 30% against the previous year. In general, the import price, however, continues to indicate a abrupt shrinkage. The import price peaked at $3,114 per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($6,954 per ton), while the price for India ($1,549 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+4.5%), while the prices for the other major suppliers experienced a decline.
Spices; Turmeric (Curcuma) Price in Colombia (FOB) - 2022
The average spices; turmeric (curcuma) export price stood at $4,634 per ton in 2022, which is down by -54.2% against the previous year. Over the period under review, the export price, however, recorded prominent growth. The pace of growth was the most pronounced in 2019 when the average export price increased by 97%. The export price peaked at $12,860 per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($13,923 per ton), while the average price for exports to Ecuador ($3,838 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 Venezuela (+49.7%), while the prices for the other major destinations experienced more modest paces of growth.
Spices; Turmeric (Curcuma) Imports in Colombia
In 2022, approx. 501 tons of spices; turmeric (curcuma) were imported into Colombia; picking up by 26% on 2021. Over the period under review, total imports indicated a resilient increase from 2019 to 2022: its volume increased at an average annual rate of +16.5% 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 +58.1% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, spices; turmeric (curcuma) imports surged to $875K in 2022. Overall, imports enjoyed significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Spices; Turmeric (Curcuma) in Colombia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 234 | 240 | 332 | 648 | 40.4% |
| Italy | 32.8 | 54.5 | 67.1 | 101 | 45.5% |
| United States | 63.9 | 85.2 | 91.7 | 87.5 | 11.0% |
| Peru | 25.8 | 31.9 | 28.6 | 28.6 | 3.5% |
| Others | 2.1 | 35.0 | 12.6 | 10.5 | 71.0% |
| Total | 359 | 446 | 531 | 875 | 34.6% |
Top Suppliers of Spices; Turmeric (Curcuma) to Colombia in 2022:
- India (418.0 tons)
- Italy (50.6 tons)
- Peru (17.5 tons)
- United States (12.6 tons)
Spices; Turmeric (Curcuma) Exports in Colombia
In 2022, overseas shipments of spices; turmeric (curcuma) increased by 2,568% to 4.2 tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports continue to indicate significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, spices; turmeric (curcuma) exports soared to $19K in 2022. In general, exports saw a strong increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Spices; Turmeric (Curcuma) in Colombia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Ecuador | N/A | N/A | N/A | 11.5 | 0% |
| Mexico | N/A | N/A | N/A | 5.5 | 0% |
| United States | N/A | N/A | 1.1 | 2.4 | 118.2% |
| Peru | N/A | 3.2 | N/A | N/A | 0% |
| France | 10.1 | 4.1 | N/A | N/A | -59.4% |
| Costa Rica | 6.0 | 1.6 | 0.2 | N/A | -81.7% |
| Others | N/A | 0.6 | 0.3 | 0.1 | -59.2% |
| Total | 16.1 | 9.5 | 1.6 | 19.4 | 6.4% |
Top Export Markets for Spices; Turmeric (Curcuma) from Colombia in 2022:
- Ecuador (3.0 tons)
- Mexico (1.0 tons)
- United States (0.2 tons)
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