Spices; Turmeric (Curcuma) Price in South Africa - 2023
Contents:
- Spices; Turmeric (Curcuma) Price in South Africa (CIF) - 2023
- Spices; Turmeric (Curcuma) Price in South Africa (FOB) - 2022
- Spices; Turmeric (Curcuma) Imports in South Africa
- Spices; Turmeric (Curcuma) Exports in South Africa
Spices; Turmeric (Curcuma) Price in South Africa (CIF) - 2023
The average spices; turmeric (curcuma) import price stood at $1,701 per ton in July 2023, remaining constant against the previous month. Over the last twelve months, it increased at an average monthly rate of +1.8%. The most prominent rate of growth was recorded in August 2022 when the average import price increased by 25% month-to-month. Over the period under review, average import prices attained the peak figure at $1,904 per ton in March 2023; however, from April 2023 to July 2023, import prices stood at a somewhat lower figure.
As there is only one major supplying country, the average price level is determined by prices for India.
From July 2022 to July 2023, the rate of growth in terms of prices for India amounted to +2.1% per month.
Spices; Turmeric (Curcuma) Price in South Africa (FOB) - 2022
The average spices; turmeric (curcuma) export price stood at $3,153 per ton in 2021, reducing by -22.4% against the previous year. Over the period under review, the export price, however, continues to indicate resilient growth. The most prominent rate of growth was recorded in 2013 an increase of 180% against the previous year. Over the period under review, the average export prices reached the maximum at $5,251 per ton in 2016; however, from 2017 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 Zambia ($4,788 per ton), while the average price for exports to Lesotho ($821 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 Swaziland (+6.6%), while the prices for the other major destinations experienced mixed trend patterns.
Spices; Turmeric (Curcuma) Imports in South Africa
In 2022, the amount of spices; turmeric (curcuma) imported into South Africa rose notably to 3.4K tons, with an increase of 14% compared with 2021 figures. The total import volume increased at an average annual rate of +8.6% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 24% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to see steady growth in the immediate term.
In value terms, spices; turmeric (curcuma) imports soared to $6M in 2022. The total import value increased at an average annual rate of +6.1% over the period from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Spices; Turmeric (Curcuma) in South Africa (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | CAGR, 2019-2021 | |
| India | 4.5 | 4.6 | 4.7 | 2.2% | |
| Others | 0.5 | 0.2 | 0.5 | 0.0% | |
| Total | 5.1 | 4.8 | 5.2 | 1.0% | |
Top Suppliers of Spices; Turmeric (Curcuma) to South Africa in 2022:
- India (2.9K tons)
Spices; Turmeric (Curcuma) Exports in South Africa
In 2022, exports of spices; turmeric (curcuma) from South Africa declined sharply to 100 tons, with a decrease of -19.2% on the previous year's figure. Overall, exports showed a abrupt contraction. The most prominent rate of growth was recorded in 2021 when exports increased by 44%.
In value terms, spices; turmeric (curcuma) exports fell rapidly to $267K in 2022. Over the period under review, exports showed a abrupt contraction. The pace of growth was the most pronounced in 2021 when exports increased by 12% against the previous year.
| Export of Spices; Turmeric (Curcuma) in South Africa (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | CAGR, 2019-2021 | |
| Swaziland | 192 | 123 | 128 | -18.4% | |
| Botswana | 30.9 | 67.4 | 57.0 | 35.8% | |
| Zimbabwe | 51.2 | 61.7 | 52.2 | 1.0% | |
| Zambia | 53.7 | 23.8 | 28.7 | -26.9% | |
| Lesotho | N/A | N/A | 22.8 | 0% | |
| Namibia | 13.6 | 22.2 | 18.8 | 17.6% | |
| United Kingdom | 17.4 | 14.8 | 13.3 | -12.6% | |
| Mozambique | 8.8 | 11.4 | 9.7 | 5.0% | |
| Angola | 9.2 | 3.1 | 5.0 | -26.3% | |
| Others | 19.0 | 23.0 | 56.5 | 72.4% | |
| Total | 396 | 351 | 392 | -0.5% | |
Top Export Markets for Spices; Turmeric (Curcuma) from South Africa in 2022:
- Zimbabwe (39.0 tons)
- Swaziland (37.2 tons)
- Botswana (36.1 tons)
- Lesotho (27.8 tons)
- Namibia (9.7 tons)
- Zambia (6.0 tons)
- Mozambique (5.8 tons)
- United Kingdom (4.3 tons)
- Angola (2.5 tons)
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