Spices; Turmeric (Curcuma) Price in China - 2023
Contents:
- Spices; Turmeric (Curcuma) Price in China (CIF) - 2023
- Spices; Turmeric (Curcuma) Price in China (FOB) - 2022
- Spices; Turmeric (Curcuma) Imports in China
- Spices; Turmeric (Curcuma) Exports in China
Spices; Turmeric (Curcuma) Price in China (CIF) - 2023
The average spices; turmeric (curcuma) import price stood at $860 per ton in June 2023, rising by 5.5% against the previous month. Overall, the import price posted a modest expansion. The growth pace was the most rapid in January 2023 an increase of 141% month-to-month. As a result, import price reached the peak level of $1,427 per ton. From February 2023 to June 2023, the average import prices remained at a somewhat lower figure.
Average prices varied noticeably amongst the major supplying countries. In June 2023, the country with the highest price was Myanmar ($860 per ton), while the price for India totaled $856 per ton.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by Myanmar (+3.1%).
Spices; Turmeric (Curcuma) Price in China (FOB) - 2022
In 2021, the average spices; turmeric (curcuma) export price amounted to $2,754 per ton, picking up by 24% against the previous year. In general, the export price, however, recorded a perceptible curtailment. The pace of growth was the most pronounced in 2017 when the average export price increased by 35% against the previous year. Over the period under review, the average export prices hit record highs at $3,966 per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Hong Kong SAR ($3,646 per ton), while the average price for exports to the UK ($1,367 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 Netherlands (+3.2%), while the prices for the other major destinations experienced mixed trend patterns.
Spices; Turmeric (Curcuma) Imports in China
In 2022, overseas purchases of spices; turmeric (curcuma) were finally on the rise to reach 24K tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports enjoyed a resilient expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, spices; turmeric (curcuma) imports surged to $16M in 2022. In general, imports recorded a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Spices; Turmeric (Curcuma) in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | CAGR, 2019-2021 | |
| Myanmar | 5.7 | 3.3 | 4.1 | -15.2% | |
| India | 0.1 | 0.1 | 1.8 | 324.3% | |
| Others | N/A | N/A | 0.1 | 0% | |
| Total | 5.8 | 3.4 | 6.0 | 1.7% | |
Top Suppliers of Spices; Turmeric (Curcuma) to China in 2022:
- Myanmar (11.8K tons)
- India (2.4K tons)
Spices; Turmeric (Curcuma) Exports in China
In 2022, overseas shipments of spices; turmeric (curcuma) decreased by -15.8% to 771 tons, falling for the second year in a row after two years of growth. Overall, exports continue to indicate a abrupt descent. The growth pace was the most rapid in 2020 with an increase of 12% against the previous year. As a result, the exports reached the peak of 1.3K tons. From 2021 to 2022, the growth of the exports remained at a lower figure.
In value terms, spices; turmeric (curcuma) exports declined remarkably to $2.1M in 2022. Over the period under review, exports saw a abrupt slump. The smallest decline of -9.4% was in 2021.
| Export of Spices; Turmeric (Curcuma) in China (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | CAGR, 2019-2021 | |
| Japan | 2,457 | 1,508 | 1,639 | -18.3% | |
| United States | 413 | 547 | 422 | 1.1% | |
| Netherlands | 11.3 | 219 | 154 | 269.2% | |
| Hong Kong SAR | 70.3 | 137 | 95.5 | 16.6% | |
| United Kingdom | 1.0 | 35.8 | 69.3 | 732.5% | |
| Taiwan (Chinese) | 125 | 113 | 47.4 | -38.4% | |
| Others | 118 | 225 | 95.1 | -10.2% | |
| Total | 3,196 | 2,785 | 2,523 | -11.2% | |
Top Export Markets for Spices; Turmeric (Curcuma) from China in 2022:
- Japan (566.4 tons)
- United States (164.9 tons)
- United Kingdom (50.8 tons)
- Netherlands (43.7 tons)
- Hong Kong SAR (26.2 tons)
- Taiwan (Chinese) (14.0 tons)
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