Spices; Turmeric (Curcuma) Price in New Zealand - 2023
Contents:
- Spices; Turmeric (Curcuma) Price in New Zealand (CIF) - 2022
- Spices; Turmeric (Curcuma) Price in New Zealand (FOB) - 2022
- Spices; Turmeric (Curcuma) Imports in New Zealand
- Spices; Turmeric (Curcuma) Exports in New Zealand
Spices; Turmeric (Curcuma) Price in New Zealand (CIF) - 2022
In 2022, the average spices; turmeric (curcuma) import price amounted to $2,300 per ton, rising by 4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.1%. The growth pace was the most rapid in 2017 an increase of 19%. Over the period under review, average import prices reached the maximum at $2,623 per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($2,300 per ton), while the price for Australia ($2,300 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+4.0%), while the prices for the other major suppliers experienced mixed trend patterns.
Spices; Turmeric (Curcuma) Price in New Zealand (FOB) - 2022
In 2022, the average spices; turmeric (curcuma) export price amounted to $1,629 per ton, reducing by -8.2% against the previous year. Over the period under review, the export price continues to indicate a deep setback. The most prominent rate of growth was recorded in 2013 an increase of 113% against the previous year. As a result, the export price attained the peak level of $7,080 per ton. From 2014 to 2022, the average export prices remained at a lower figure.
Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Fiji ($1,629 per ton), while the average price for exports to Australia ($1,629 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 India (+13.6%), while the prices for the other major destinations experienced a decline.
Spices; Turmeric (Curcuma) Imports in New Zealand
In 2022, purchases abroad of spices; turmeric (curcuma) decreased by -18.5% to 295 tons for the first time since 2018, thus ending a three-year rising trend. Overall, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by 18%.
In value terms, spices; turmeric (curcuma) imports declined remarkably to $677K in 2022. The total import value increased at an average annual rate of +1.6% from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 14% against the previous year. As a result, imports attained the peak of $800K, and then declined notably in the following year.
| Import of Spices; Turmeric (Curcuma) in New Zealand (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 415 | 409 | 429 | 419 | 0.3% |
| Fiji | 155 | 192 | 214 | 179 | 4.9% |
| Australia | 31.4 | 53.8 | 44.5 | 38.9 | 7.4% |
| Sri Lanka | 11.9 | 11.0 | 11.7 | 8.8 | -9.6% |
| China | 17.3 | 6.3 | 59.5 | 5.4 | -32.2% |
| Others | 14.5 | 28.9 | 41.2 | 26.3 | 22.0% |
| Total | 645 | 701 | 800 | 677 | 1.6% |
Top Suppliers of Spices; Turmeric (Curcuma) to New Zealand in 2022:
- India (182.1 tons)
- Fiji (77.8 tons)
- Australia (16.9 tons)
- Sri Lanka (3.8 tons)
- China (2.4 tons)
Spices; Turmeric (Curcuma) Exports in New Zealand
In 2022, exports of spices; turmeric (curcuma) from New Zealand skyrocketed to 32 tons, with an increase of 62% compared with the year before. In general, exports enjoyed a significant increase. The pace of growth appeared the most rapid in 2021 with an increase of 333%. Over the period under review, the exports attained the maximum in 2022 and are likely to see steady growth in the immediate term.
In value terms, spices; turmeric (curcuma) exports skyrocketed to $53K in 2022. Overall, exports enjoyed a significant increase. The pace of growth was the most pronounced in 2021 when exports increased by 163%. The exports peaked in 2022 and are expected to retain growth in years to come.
| Export of Spices; Turmeric (Curcuma) in New Zealand (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Australia | 8.6 | 9.8 | 30.9 | 39.9 | 66.8% |
| Fiji | 1.0 | 0.1 | 0.2 | 9.0 | 108.0% |
| Cook Islands | 1.5 | 2.6 | 2.9 | 2.1 | 11.9% |
| Others | 1.1 | 0.9 | 1.4 | 1.5 | 10.9% |
| Total | 12.1 | 13.4 | 35.4 | 52.5 | 63.1% |
Top Export Markets for Spices; Turmeric (Curcuma) from New Zealand in 2022:
- Australia (24.5 tons)
- Fiji (5.5 tons)
- Cook Islands (1.3 tons)
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