Spices; Turmeric (Curcuma) Price in Spain - 2023
Contents:
- Spices; Turmeric (Curcuma) Price in Spain (CIF) - 2023
- Spices; Turmeric (Curcuma) Price in Spain (FOB) - 2023
- Spices; Turmeric (Curcuma) Imports in Spain
- Spices; Turmeric (Curcuma) Exports in Spain
Spices; Turmeric (Curcuma) Price in Spain (CIF) - 2023
In June 2023, the average spices; turmeric (curcuma) import price amounted to $1,776 per ton, with a decrease of -23.1% against the previous month. Over the period under review, the import price continues to indicate a perceptible descent. The most prominent rate of growth was recorded in February 2023 when the average import price increased by 68% month-to-month. As a result, import price attained the peak level of $3,280 per ton. From March 2023 to June 2023, the average import prices remained at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In June 2023, the country with the highest price was the Netherlands ($6,975 per ton), while the price for India ($1,366 per ton) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by the Netherlands (+8.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Spices; Turmeric (Curcuma) Price in Spain (FOB) - 2023
The average spices; turmeric (curcuma) export price stood at $3,346 per ton in June 2023, which is down by -9% against the previous month. Overall, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in March 2023 when the average export price increased by 29% month-to-month. As a result, the export price attained the peak level of $3,896 per ton. From April 2023 to June 2023, the the average export prices remained at a lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was the Dominican Republic ($11,350 per ton), while the average price for exports to Morocco ($681 per ton) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+4.1%), while the prices for the other major destinations experienced more modest paces of growth.
Spices; Turmeric (Curcuma) Imports in Spain
In 2022, after three years of growth, there was decline in purchases abroad of spices; turmeric (curcuma), when their volume decreased by -4.8% to 2.3K tons. The total import volume increased at an average annual rate of +3.6% from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 13% against the previous year. As a result, imports attained the peak of 2.5K tons, and then shrank in the following year.
In value terms, spices; turmeric (curcuma) imports skyrocketed to $6.4M in 2022. Overall, total imports indicated prominent growth from 2019 to 2022: its value increased at an average annual rate of +17.7% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +63.0% against 2019 indices. The pace of growth was the most pronounced in 2021 when imports increased by 23%. Imports peaked in 2022 and are likely to see steady growth in years to come.
| Import of Spices; Turmeric (Curcuma) in Spain (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | CAGR, 2019-2021 | |
| India | 2,056 | 2,324 | 3,021 | 21.2% | |
| Peru | 539 | 388 | 704 | 14.3% | |
| Netherlands | 358 | 386 | 400 | 5.7% | |
| Vietnam | 80.7 | 78.7 | 213 | 62.5% | |
| Germany | 104 | 223 | 115 | 5.2% | |
| Others | 760 | 869 | 811 | 3.3% | |
| Total | 3,898 | 4,269 | 5,263 | 16.2% | |
Top Suppliers of Spices; Turmeric (Curcuma) to Spain in 2022:
- India (1723.2 tons)
- Peru (338.8 tons)
- Netherlands (141.2 tons)
- Vietnam (113.8 tons)
- Germany (22.5 tons)
Spices; Turmeric (Curcuma) Exports in Spain
For the fourth year in a row, Spain recorded growth in overseas shipments of spices; turmeric (curcuma), which increased by 2.8% to 1.1K tons in 2022. In general, total exports indicated a prominent expansion from 2019 to 2022: its volume increased at an average annual rate of +17.4% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +62.0% against 2019 indices. The pace of growth was the most pronounced in 2020 when exports increased by 42% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in years to come.
In value terms, spices; turmeric (curcuma) exports declined to $3.7M in 2022. Over the period under review, total exports indicated resilient growth from 2019 to 2022: its value increased at an average annual rate of +11.8% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +39.9% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 29%. As a result, the exports reached the peak of $4.2M, and then contracted in the following year.
| Export of Spices; Turmeric (Curcuma) in Spain (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | CAGR, 2019-2021 | |
| France | 962 | 1,025 | 1,075 | 5.7% | |
| United Kingdom | 248 | 508 | 585 | 53.6% | |
| Germany | 412 | 298 | 553 | 15.9% | |
| Portugal | 100 | 262 | 350 | 87.1% | |
| Ukraine | 189 | 191 | 250 | 15.0% | |
| United States | 69.8 | 91.5 | 247 | 88.1% | |
| Belgium | 68.9 | 158 | 247 | 89.3% | |
| Italy | 105 | 99.5 | 226 | 46.7% | |
| Slovakia | 64.5 | 119 | 118 | 35.3% | |
| Dominican Republic | 24.3 | 23.6 | 99.0 | 101.8% | |
| Netherlands | 138 | 117 | 96.8 | -16.2% | |
| Poland | 21.5 | 96.4 | 88.4 | 102.8% | |
| Romania | 8.7 | 3.4 | 68.7 | 181.0% | |
| Others | 230 | 285 | 224 | -1.3% | |
| Total | 2,641 | 3,277 | 4,229 | 26.5% | |
Top Export Markets for Spices; Turmeric (Curcuma) from Spain in 2022:
- France (295.7 tons)
- Italy (121.5 tons)
- United Kingdom (110.6 tons)
- Germany (106.9 tons)
- Portugal (85.3 tons)
- Ukraine (79.2 tons)
- United States (74.2 tons)
- Belgium (59.5 tons)
- Romania (48.8 tons)
- Slovakia (45.9 tons)
- Netherlands (28.3 tons)
- Poland (26.9 tons)
- Dominican Republic (23.2 tons)
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