Spices; Turmeric (Curcuma) Price in Germany - 2023
Contents:
- Spices; Turmeric (Curcuma) Price in Germany (CIF) - 2023
- Spices; Turmeric (Curcuma) Price in Germany (FOB) - 2023
- Spices; Turmeric (Curcuma) Imports in Germany
- Spices; Turmeric (Curcuma) Exports in Germany
Spices; Turmeric (Curcuma) Price in Germany (CIF) - 2023
The average spices; turmeric (curcuma) import price stood at $2,626 per ton in June 2023, declining by -4.2% against the previous month. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in February 2023 an increase of 30% month-to-month. As a result, import price reached the peak level of $3,454 per ton. From March 2023 to June 2023, the average import prices remained at a 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 Austria ($10,903 per ton), while the price for Myanmar ($1,684 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 the Netherlands (+5.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Spices; Turmeric (Curcuma) Price in Germany (FOB) - 2023
The average spices; turmeric (curcuma) export price stood at $5,970 per ton in June 2023, growing by 20% against the previous month. In general, export price indicated perceptible growth from June 2022 to June 2023: its price increased at an average monthly rate of +4.8% 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) export price decreased by -0.2% against March 2023 indices. The pace of growth was the most pronounced in March 2023 an increase of 44% m-o-m. As a result, the export price reached the peak level of $5,983 per ton; afterwards, it flattened through to June 2023.
There were significant differences in the average prices for the major overseas markets. In June 2023, the country with the highest price was the UK ($29,676 per ton), while the average price for exports to Brazil ($955 per ton) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+17.6%), while the prices for the other major destinations experienced more modest paces of growth.
Spices; Turmeric (Curcuma) Imports in Germany
In 2022, after three years of growth, there was significant decline in purchases abroad of spices; turmeric (curcuma), when their volume decreased by -17.6% to 5.3K tons. The total import volume increased at an average annual rate of +1.7% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of 13%.
In value terms, spices; turmeric (curcuma) imports fell to $16M in 2022. The total import value increased at an average annual rate of +6.2% from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 when imports increased by 16% against the previous year.
| Import of Spices; Turmeric (Curcuma) in Germany (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | CAGR, 2019-2021 | |
| India | 8.6 | 7.3 | 8.9 | 1.7% | |
| Netherlands | 0.5 | 4.1 | 4.1 | 186.4% | |
| Peru | 1.1 | 0.2 | 0.5 | -32.6% | |
| Costa Rica | 0.3 | 0.3 | 0.4 | 15.5% | |
| Madagascar | 0.6 | 0.5 | 0.1 | -59.2% | |
| Others | 2.2 | 2.8 | 2.6 | 8.7% | |
| Total | 13.2 | 15.3 | 16.7 | 12.5% | |
Top Suppliers of Spices; Turmeric (Curcuma) to Germany in 2022:
- Madagascar (undefinedK tons)
- India (4.5K tons)
- Netherlands (1.1K tons)
- Peru (0.2K tons)
- Costa Rica (0.1K tons)
Spices; Turmeric (Curcuma) Exports in Germany
For the fourth year in a row, Germany recorded growth in shipments abroad of spices; turmeric (curcuma), which increased by 0.4% to 1.8K tons in 2022. Overall, total exports indicated a resilient expansion from 2019 to 2022: its volume increased at an average annual rate of +17.3% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +61.4% against 2019 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 36% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in years to come.
In value terms, spices; turmeric (curcuma) exports declined to $7M in 2022. Over the period under review, total exports indicated strong growth from 2019 to 2022: its value increased at an average annual rate of +13.6% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +46.6% against 2019 indices. The pace of growth was the most pronounced in 2020 when exports increased by 45% against the previous year.
| Export of Spices; Turmeric (Curcuma) in Germany (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | CAGR, 2019-2021 | |
| Poland | 873 | 1,106 | 1,215 | 18.0% | |
| Austria | 740 | 1,262 | 1,081 | 20.9% | |
| France | 542 | 658 | 857 | 25.7% | |
| United Kingdom | 206 | 479 | 507 | 56.9% | |
| Switzerland | 243 | 436 | 474 | 39.7% | |
| Netherlands | 323 | 277 | 431 | 15.5% | |
| Belgium | 73.1 | 115 | 304 | 103.9% | |
| Sweden | 146 | 256 | 281 | 38.7% | |
| United States | 144 | 235 | 266 | 35.9% | |
| Italy | 414 | 296 | 264 | -20.1% | |
| Czech Republic | 167 | 235 | 256 | 23.8% | |
| Spain | 89.3 | 214 | 223 | 58.0% | |
| India | N/A | N/A | 112 | 0% | |
| Others | 824 | 1,354 | 1,519 | 35.8% | |
| Total | 4,783 | 6,924 | 7,787 | 27.6% | |
Top Export Markets for Spices; Turmeric (Curcuma) from Germany in 2022:
- Poland (381.6 tons)
- Austria (276.6 tons)
- France (207.1 tons)
- Netherlands (123.5 tons)
- Czech Republic (91.4 tons)
- United Kingdom (85.7 tons)
- India (69.0 tons)
- Belgium (65.1 tons)
- Sweden (46.9 tons)
- Spain (46.8 tons)
- Switzerland (46.3 tons)
- Italy (46.0 tons)
- United States (37.4 tons)
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