Spices; Turmeric (Curcuma) Price in Russia - 2022
Contents:
- Spices; Turmeric (Curcuma) Price in Russia (CIF) - 2022
- Spices; Turmeric (Curcuma) Price in Russia (FOB) - 2022
- Spices; Turmeric (Curcuma) Imports in Russia
- Spices; Turmeric (Curcuma) Exports in Russia
Spices; Turmeric (Curcuma) Price in Russia (CIF) - 2022
The average spices; turmeric (curcuma) import price stood at $2,688 per ton in January 2022, surging by 60% against the previous month. Overall, the import price enjoyed a strong expansion. The most prominent rate of growth was recorded in November 2021 when the average import price increased by 93% against the previous month. As a result, import price reached the peak level of $2,998 per ton. From December 2021 to January 2022, the average import prices remained at a somewhat lower figure.
As there is only one major supplying country, the average price level is determined by prices for India.
From January 2021 to January 2022, the rate of growth in terms of prices for India amounted to +6.6% per month.
Spices; Turmeric (Curcuma) Price in Russia (FOB) - 2022
The average spices; turmeric (curcuma) export price stood at $2,466 per ton in 2021, dropping by -5.1% against the previous year. Overall, the export price showed a deep setback. The pace of growth was the most pronounced in 2019 when the average export price increased by 15% against the previous year. The export price peaked at $6,354 per ton in 2012; however, from 2013 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 Uzbekistan ($3,495 per ton), while the average price for exports to Belarus ($1,691 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 Uzbekistan (+2.4%), while the prices for the other major destinations experienced mixed trend patterns.
Spices; Turmeric (Curcuma) Imports in Russia
In 2022, the amount of spices; turmeric (curcuma) imported into Russia expanded to 1.9K tons, growing by 3.9% against 2021. The total import volume increased at an average annual rate of +5.2% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The pace of growth was the most pronounced in 2020 when imports increased by 21% against the previous year. As a result, imports attained the peak of 2K tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
In value terms, spices; turmeric (curcuma) imports fell to $2.9M in 2022. The total import value increased at an average annual rate of +6.7% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of 21% against the previous year.
| Import of Spices; Turmeric (Curcuma) in Russia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | CAGR, 2019-2021 | |
| India | 2.3 | 2.7 | 2.8 | 10.3% | |
| Others | 0.1 | 0.2 | 0.1 | 0.0% | |
| Total | 2.4 | 2.9 | 2.9 | 9.9% | |
Top Suppliers of Spices; Turmeric (Curcuma) to Russia in 2022:
- India (1811.6 tons)
Spices; Turmeric (Curcuma) Exports in Russia
In 2022, spices; turmeric (curcuma) exports from Russia expanded rapidly to 144 tons, rising by 8.7% compared with 2021 figures. The total export volume increased at an average annual rate of +12.0% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 when exports increased by 39%. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the near future.
In value terms, spices; turmeric (curcuma) exports expanded markedly to $348K in 2022. The total export value increased at an average annual rate of +8.2% 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 35%. As a result, the exports attained the peak of $370K. From 2021 to 2022, the growth of the exports remained at a lower figure.
| Export of Spices; Turmeric (Curcuma) in Russia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | CAGR, 2019-2021 | |
| Kazakhstan | 124 | 177 | 156 | 12.2% | |
| Belarus | 71.4 | 101 | 83.2 | 7.9% | |
| Ukraine | 55.9 | 53.3 | 45.9 | -9.4% | |
| Others | 23.4 | 38.0 | 41.8 | 33.7% | |
| Total | 275 | 370 | 327 | 9.0% | |
Top Export Markets for Spices; Turmeric (Curcuma) from Russia in 2022:
- Kazakhstan (59.6 tons)
- Belarus (49.2 tons)
- Ukraine (14.9 tons)
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