Spices; Turmeric (Curcuma) Price in Italy - 2023
Contents:
- Spices; Turmeric (Curcuma) Price in Italy (CIF) - 2022
- Spices; Turmeric (Curcuma) Price in Italy (FOB) - 2022
- Spices; Turmeric (Curcuma) Imports in Italy
- Spices; Turmeric (Curcuma) Exports in Italy
Spices; Turmeric (Curcuma) Price in Italy (CIF) - 2022
In 2021, the average spices; turmeric (curcuma) import price amounted to $2,427 per ton, jumping by 20% against the previous year. In general, import price indicated a mild expansion from 2012 to 2021: its price increased at an average annual rate of +1.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, spices; turmeric (curcuma) import price decreased by -30.2% against 2016 indices. The most prominent rate of growth was recorded in 2013 an increase of 33%. The import price peaked at $3,478 per ton in 2016; however, from 2017 to 2021, 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 Germany ($6,016 per ton), while the price for Bangladesh ($1,526 per ton) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bangladesh (+23.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Spices; Turmeric (Curcuma) Price in Italy (FOB) - 2022
In 2021, the average spices; turmeric (curcuma) export price amounted to $6,739 per ton, picking up by 50% against the previous year. Over the period under review, export price indicated noticeable growth from 2012 to 2021: its price increased at an average annual rate of +4.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 when the average export price increased by 59% against the previous year. The export price peaked in 2021 and is expected to retain growth in the near future.
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 Australia ($18,022 per ton), while the average price for exports to Spain ($2,515 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 the United States (+18.0%), while the prices for the other major destinations experienced more modest paces of growth.
Spices; Turmeric (Curcuma) Imports in Italy
In 2022, supplies from abroad of spices; turmeric (curcuma) decreased by -23.6% to 580 tons, falling for the second year in a row after two years of growth. Overall, imports showed a abrupt downturn. The most prominent rate of growth was recorded in 2020 when imports increased by 7.4%. As a result, imports attained the peak of 792 tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
In value terms, spices; turmeric (curcuma) imports dropped to $1.8M in 2022. In general, imports recorded a deep downturn. The pace of growth was the most pronounced in 2021 with an increase of 15% against the previous year.
| Import of Spices; Turmeric (Curcuma) in Italy (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | CAGR, 2019-2021 | |
| India | 1,056 | 968 | 1,144 | 4.1% | |
| Netherlands | 271 | 90.6 | 237 | -6.5% | |
| Germany | 230 | 201 | 176 | -12.5% | |
| Spain | 69.3 | 34.1 | 92.0 | 15.2% | |
| Peru | 65.0 | 42.2 | 31.2 | -30.7% | |
| Vietnam | N/A | 7.1 | 20.7 | 191.5% | |
| Bangladesh | 4.3 | 6.8 | 20.1 | 116.2% | |
| Nicaragua | 65.0 | 15.8 | N/A | -75.7% | |
| United Kingdom | 110 | 155 | N/A | 40.9% | |
| Others | 236 | 86.6 | 125 | -27.2% | |
| Total | 2,108 | 1,607 | 1,845 | -6.4% | |
Top Suppliers of Spices; Turmeric (Curcuma) to Italy in 2022:
- India (580.3 tons)
- Netherlands (73.6 tons)
- Germany (29.2 tons)
- Spain (28.5 tons)
- Peru (15.8 tons)
- Bangladesh (13.2 tons)
- Vietnam (11.8 tons)
Spices; Turmeric (Curcuma) Exports in Italy
In 2022, approx. 65 tons of spices; turmeric (curcuma) were exported from Italy; which is down by -37.9% compared with the year before. Over the period under review, exports recorded a abrupt slump. The most prominent rate of growth was recorded in 2021 when exports increased by 68% against the previous year. As a result, the exports reached the peak of 104 tons, and then reduced notably in the following year.
In value terms, spices; turmeric (curcuma) exports contracted significantly to $274K in 2022. In general, exports recorded a drastic downturn. The pace of growth appeared the most rapid in 2021 when exports increased by 153% against the previous year. As a result, the exports reached the peak of $700K, and then dropped rapidly in the following year.
| Export of Spices; Turmeric (Curcuma) in Italy (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | CAGR, 2019-2021 | |
| United Kingdom | 0.2 | 0.1 | 302 | 3785.9% | |
| France | 37.8 | 15.4 | 70.3 | 36.4% | |
| Spain | 95.8 | 38.6 | 44.7 | -31.7% | |
| Australia | N/A | N/A | 38.7 | 0% | |
| Germany | 176 | 65.1 | 26.6 | -61.1% | |
| United States | 2.1 | N/A | 19.6 | 205.5% | |
| Austria | 8.5 | 3.3 | 13.3 | 25.1% | |
| Malta | 5.1 | 2.5 | 12.3 | 55.3% | |
| Albania | 2.1 | 12.3 | 12.0 | 139.0% | |
| Switzerland | 4.1 | N/A | 10.6 | 60.8% | |
| Slovenia | 9.0 | 7.3 | 9.8 | 4.3% | |
| Greece | 9.0 | 8.4 | 9.7 | 3.8% | |
| India | 20.6 | 16.7 | N/A | -18.9% | |
| Others | 57.0 | 107 | 131 | 51.6% | |
| Total | 428 | 277 | 700 | 27.9% | |
Top Export Markets for Spices; Turmeric (Curcuma) from Italy in 2022:
- United Kingdom (37.7 tons)
- France (18.7 tons)
- Spain (17.8 tons)
- Austria (4.5 tons)
- Germany (3.9 tons)
- Malta (3.7 tons)
- Albania (3.5 tons)
- Greece (2.4 tons)
- Australia (2.1 tons)
- United States (1.7 tons)
- Slovenia (1.7 tons)
- Switzerland (1.6 tons)
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