Price for Spices; Ginger, Neither Crushed Nor Ground in Hungary - 2023
Contents:
- Price for Spices; Ginger, Neither Crushed Nor Ground in Hungary (CIF) - 2022
- Price for Spices; Ginger, Neither Crushed Nor Ground in Hungary (FOB) - 2022
- Imports of Spices; Ginger, Neither Crushed Nor Ground in Hungary
- Exports of Spices; Ginger, Neither Crushed Nor Ground in Hungary
Price for Spices; Ginger, Neither Crushed Nor Ground in Hungary (CIF) - 2022
The average import price for spices; ginger, neither crushed nor ground stood at $2,191 per ton in 2022, reducing by -28.7% against the previous year. Over the period under review, the import price, however, continues to indicate a strong expansion. The pace of growth was the most pronounced in 2020 when the average import price increased by 62% against the previous year. As a result, import price attained the peak level of $3,361 per ton. From 2021 to 2022, the average import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Czech Republic ($2,921 per ton), while the price for the Netherlands ($1,849 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+5.6%), while the prices for the other major suppliers experienced a decline.
Price for Spices; Ginger, Neither Crushed Nor Ground in Hungary (FOB) - 2022
In 2022, the average export price for spices; ginger, neither crushed nor ground amounted to $2,447 per ton, declining by -29.2% against the previous year. In general, the export price recorded a perceptible reduction. The pace of growth was the most pronounced in 2020 an increase of 84% against the previous year. The export price peaked at $6,236 per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Slovakia ($10,494 per ton), while the average price for exports to Turkey ($602 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 Slovakia (+12.3%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Spices; Ginger, Neither Crushed Nor Ground in Hungary
For the fourth consecutive year, Hungary recorded growth in purchases abroad of spices; ginger, neither crushed nor ground, which increased by 3.3% to 1.2K tons in 2022. The total import volume increased at an average annual rate of +11.7% 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 26%. Imports peaked in 2022 and are expected to retain growth in years to come.
In value terms, imports of spices; ginger, neither crushed nor ground fell remarkably to $2.7M in 2022. Over the period under review, imports posted a resilient expansion. The pace of growth was the most pronounced in 2020 when imports increased by 105% against the previous year. As a result, imports attained the peak of $3.7M. From 2021 to 2022, the growth of imports of remained at a lower figure.
| Import of Spices; Ginger, Neither Crushed Nor Ground in Hungary (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 828 | 2,091 | 1,973 | 1,504 | 22.0% |
| Germany | 394 | 772 | 953 | 554 | 12.0% |
| Czech Republic | 510 | 635 | 550 | 405 | -7.4% |
| Italy | 23.4 | 27.2 | 19.6 | 85.2 | 53.8% |
| Others | 64.0 | 201 | 151 | 135 | 28.2% |
| Total | 1,820 | 3,727 | 3,646 | 2,684 | 13.8% |
Top Suppliers of Spices; Ginger, Neither Crushed Nor Ground to Hungary in 2022:
- Netherlands (813.4 tons)
- Germany (198.9 tons)
- Czech Republic (138.8 tons)
- Italy (44.1 tons)
Exports of Spices; Ginger, Neither Crushed Nor Ground in Hungary
In 2022, approx. 366 tons of spices; ginger, neither crushed nor ground were exported from Hungary; picking up by 42% against the year before. Overall, exports posted a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 163% against the previous year. As a result, the exports attained the peak of 446 tons. From 2021 to 2022, the growth of the exports of failed to regain momentum.
In value terms, exports of spices; ginger, neither crushed nor ground reached $897K in 2022. In general, exports continue to indicate a significant expansion. The pace of growth was the most pronounced in 2020 with an increase of 385%. As a result, the exports attained the peak of $2M. From 2021 to 2022, the growth of the exports of failed to regain momentum.
| Export of Spices; Ginger, Neither Crushed Nor Ground in Hungary (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Romania | 236 | 1,063 | 756 | 613 | 37.5% |
| Bulgaria | 69.9 | 125 | 18.4 | 179 | 36.8% |
| Croatia | 67.4 | 189 | 92.8 | 87.1 | 8.9% |
| Turkey | N/A | N/A | N/A | 16.5 | 0% |
| Slovakia | 24.5 | 559 | 0.3 | 0.8 | -68.0% |
| Others | 4.5 | 18.4 | 26.4 | 0.3 | -59.5% |
| Total | 403 | 1,954 | 894 | 897 | 30.6% |
Top Export Markets for Spices; Ginger, Neither Crushed Nor Ground from Hungary in 2022:
- Romania (233.1 tons)
- Bulgaria (71.9 tons)
- Croatia (33.8 tons)
- Turkey (27.4 tons)
- Slovakia (0.1 tons)
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