Spices; Turmeric (Curcuma) Price in Thailand - 2023
Contents:
- Spices; Turmeric (Curcuma) Price in Thailand (FOB) - 2022
- Spices; Turmeric (Curcuma) Price in Thailand (CIF) - 2022
- Spices; Turmeric (Curcuma) Exports in Thailand
- Spices; Turmeric (Curcuma) Imports in Thailand
Spices; Turmeric (Curcuma) Price in Thailand (FOB) - 2022
In 2021, the average spices; turmeric (curcuma) export price amounted to $2,279 per ton, surging by 2.3% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 149% against the previous year. As a result, the export price reached the peak level of $5,750 per ton. From 2014 to 2021, the average export prices remained at a lower figure.
There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was the Netherlands ($3,228 per ton), while the average price for exports to Myanmar ($666 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 (-3.2%), while the prices for the other major destinations experienced a decline.
Spices; Turmeric (Curcuma) Price in Thailand (CIF) - 2022
The average spices; turmeric (curcuma) import price stood at $593 per ton in 2021, with an increase of 3% against the previous year. Over the period under review, the import price, however, recorded a abrupt decline. The most prominent rate of growth was recorded in 2019 an increase of 43%. Over the period under review, average import prices attained the peak figure at $1,746 per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($1,463 per ton), while the price for Myanmar ($462 per ton) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (-3.7%), while the prices for the other major suppliers experienced a decline.
Spices; Turmeric (Curcuma) Exports in Thailand
In 2022, overseas shipments of spices; turmeric (curcuma) decreased by -9.6% to 1.2K tons for the first time since 2018, thus ending a three-year rising trend. Overall, total exports indicated a strong expansion from 2019 to 2022: its volume increased at an average annual rate of +19.8% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of 83% against the previous year.
In value terms, spices; turmeric (curcuma) exports fell to $2.6M in 2022. The total export value increased at an average annual rate of +3.1% from 2019 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of 16%.
| Export of Spices; Turmeric (Curcuma) in Thailand (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | CAGR, 2019-2021 | |
| India | 1,654 | 1,748 | 1,928 | 8.0% | |
| United States | 355 | 559 | 563 | 25.9% | |
| Netherlands | 147 | 90.9 | 189 | 13.4% | |
| United Arab Emirates | 51.0 | 64.3 | 0.4 | -91.1% | |
| Others | 158 | 282 | 239 | 23.0% | |
| Total | 2,365 | 2,745 | 2,919 | 11.1% | |
Top Export Markets for Spices; Turmeric (Curcuma) from Thailand in 2022:
- India (980.7 tons)
- United States (196.5 tons)
- Netherlands (58.5 tons)
- United Arab Emirates (0.1 tons)
Spices; Turmeric (Curcuma) Imports in Thailand
In 2022, supplies from abroad of spices; turmeric (curcuma) decreased by -39.6% to 1.2K tons for the first time since 2018, thus ending a three-year rising trend. Overall, imports, however, showed a significant expansion. The growth pace was the most rapid in 2020 with an increase of 344%.
In value terms, spices; turmeric (curcuma) imports declined dramatically to $730K in 2022. Over the period under review, imports, however, posted buoyant growth. The most prominent rate of growth was recorded in 2020 when imports increased by 65%.
| Import of Spices; Turmeric (Curcuma) in Thailand (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | CAGR, 2019-2021 | |
| Myanmar | 258 | 585 | 777 | 73.5% | |
| India | 196 | 205 | 356 | 34.8% | |
| Indonesia | 37.1 | 62.0 | 33.4 | -5.1% | |
| Others | 37.5 | 22.9 | 24.9 | -18.5% | |
| Total | 529 | 875 | 1,191 | 50.0% | |
Top Suppliers of Spices; Turmeric (Curcuma) to Thailand in 2022:
- Myanmar (1680.0 tons)
- India (243.5 tons)
- Indonesia (39.5 tons)
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