Spices; Turmeric (Curcuma) Price in Malaysia - 2021
Contents:
- Spices; Turmeric (Curcuma) Price in Malaysia (CIF) - 2021
- Spices; Turmeric (Curcuma) Price in Malaysia (FOB) - 2022
- Spices; Turmeric (Curcuma) Imports in Malaysia
- Spices; Turmeric (Curcuma) Exports in Malaysia
Spices; Turmeric (Curcuma) Price in Malaysia (CIF) - 2021
In December 2021, the average spices; turmeric (curcuma) import price amounted to $1,534 per ton, rising by 5.9% against the previous month. Overall, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in September 2021 an increase of 29% against the previous month. Over the period under review, average import prices hit record highs in December 2021.
Prices varied noticeably by the country of origin: the country with the highest price was Bangladesh ($3,461 per ton), while the price for Indonesia ($238 per ton) was amongst the lowest.
From December 2020 to December 2021, the most notable rate of growth in terms of prices was attained by Myanmar (+4.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Spices; Turmeric (Curcuma) Price in Malaysia (FOB) - 2022
In 2021, the average spices; turmeric (curcuma) export price amounted to $1,232 per ton, standing approx. at the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the average export price increased by 13% against the previous year. The export price peaked at $1,416 per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($8,314 per ton), while the average price for exports to Singapore ($944 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 (+0.8%), while the prices for the other major destinations experienced mixed trend patterns.
Spices; Turmeric (Curcuma) Imports in Malaysia
After three years of growth, purchases abroad of spices; turmeric (curcuma) decreased by -0.8% to 8.7K tons in 2022. Over the period under review, imports, however, continue to indicate a modest increase. The most prominent rate of growth was recorded in 2020 when imports increased by 2.2%.
In value terms, spices; turmeric (curcuma) imports declined to $11M in 2022. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by 19%. As a result, imports attained the peak of $12M, and then shrank in the following year.
Import of Spices; Turmeric (Curcuma) in Malaysia (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | CAGR, 2019-2021 | |
India | 8.8 | 8.5 | 9.7 | 5.0% | |
Bangladesh | 1.3 | 1.1 | 1.8 | 17.7% | |
Myanmar | 0.2 | 0.2 | 0.3 | 22.5% | |
Indonesia | 0.6 | 0.2 | 0.2 | -42.3% | |
Others | 0.1 | 0.2 | 0.2 | 41.4% | |
Total | 11.0 | 10.2 | 12.2 | 5.3% |
Top Suppliers of Spices; Turmeric (Curcuma) to Malaysia in 2022:
- India (7.0K tons)
- Indonesia (0.9K tons)
- Bangladesh (0.6K tons)
- Myanmar (0.2K tons)
Spices; Turmeric (Curcuma) Exports in Malaysia
In 2022, after three years of growth, there was decline in overseas shipments of spices; turmeric (curcuma), when their volume decreased by less than 0.1% to 904 tons. The total export volume increased at an average annual rate of +14.1% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 41%.
In value terms, spices; turmeric (curcuma) exports declined to $1.1M in 2022. The total export value increased at an average annual rate of +9.7% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of 29% against the previous year.
Export of Spices; Turmeric (Curcuma) in Malaysia (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | CAGR, 2019-2021 | |
Australia | 267 | 291 | 207 | -11.9% | |
Japan | N/A | N/A | 187 | 0% | |
Singapore | 396 | 442 | 159 | -36.6% | |
Sri Lanka | N/A | N/A | 130 | 0% | |
United States | 2.4 | N/A | 96.5 | 534.1% | |
Senegal | N/A | N/A | 34.6 | 0% | |
Thailand | 6.2 | 17.9 | 18.8 | 74.1% | |
Brunei Darussalam | 24.3 | 126 | N/A | 418.5% | |
India | 71.8 | 133 | N/A | 85.2% | |
Others | 61.1 | 62.8 | 281 | 114.5% | |
Total | 829 | 1,073 | 1,114 | 15.9% |
Top Export Markets for Spices; Turmeric (Curcuma) from Malaysia in 2022:
- Singapore (168.4 tons)
- Australia (90.2 tons)
- Sri Lanka (68.2 tons)
- Japan (32.2 tons)
- Senegal (18.0 tons)
- United States (11.6 tons)
- Thailand (10.1 tons)
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The global ginger market is forecast to reach USD 10.3 billion by 2030, growing at a CAGR of 4.7% during the forecast period (2022-2030).
In the wake of the pandemic, the ginger market has accelerated its growth as demand for foods with a reputation for immunity system health has soared to unprecedented heights. India, which almost tripled its export of ginger in 2020, may become a serious competitor to the main global supplier - China. The majority of the developed countries have increased the volume of imports, which, in the context of Covid restrictions and a shortage of container traffic, has led to an increase in prices for the product.
The global ginger market revenue amounted to $5.3B in 2018, jumping by 2.8% against the previous year. This figure...
Global ginger consumption amounted to X thousand tons in 2015, picking up by +X% against the previous year level.
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>
The value of total imports on the global ginger market in 2015 stood at X million USD. There was an annual increase of +X% for the period from 2007 to 2015. In physical terms, imports of ginger was X thousand tons i
In 2015, the leading ginger consuming markets were India (X%), Indonesia (X%), Nepal (X%), Nigeria (X%), and China (X%), together accounting for approximately X% of global consumption. These countries were also amongst the leading producers on the g
From 2007 to 2015, global exports on the ginger market grew by +X% per year, amounting to X million USD in 2015. In physical terms, exports were X thousand tons in 2015, X thousand tons more than the year before.
The global ginger production was estimated at X thousand tons in 2015, which was X thousand tons (or X%) more than in 2014.