Price for Cumin Seeds, Crushed or Ground in Turkey - 2023

Contents:

1. Price for Cumin Seeds, Crushed or Ground in Turkey (FOB) - 2023
2. Price for Cumin Seeds, Crushed or Ground in Turkey (CIF) - 2023
3. Exports of Cumin Seeds, Crushed or Ground in Turkey
4. Imports of Cumin Seeds, Crushed or Ground in Turkey

Price for Cumin Seeds, Crushed or Ground in Turkey (FOB) - 2023

In July 2023, the average export price for cumin seeds, crushed or ground amounted to $5,753 per ton, with a decrease of -8.3% against the previous month. Over the period from July 2022 to July 2023, it increased at an average monthly rate of +3.7%. The pace of growth appeared the most rapid in June 2023 an increase of 60% against the previous month. As a result, the export price reached the peak level of $6,276 per ton, and then declined in the following month.

There were significant differences in the average prices for the major export markets. In July 2023, the country with the highest price was the United States ($10,854 per ton), while the average price for exports to Germany ($729 per ton) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+12.6%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Cumin Seeds, Crushed or Ground in Turkey (CIF) - 2023

The average import price for cumin seeds, crushed or ground stood at $4,838 per ton in July 2023, waning by -39.8% against the previous month. Over the period under review, the import price, however, showed buoyant growth. The growth pace was the most rapid in October 2022 when the average import price increased by 237% m-o-m. The import price peaked at $8,036 per ton in June 2023, and then declined markedly in the following month.

Average prices varied noticeably amongst the major supplying countries. In July 2023, the country with the highest price was India ($4,840 per ton), while the price for the UK totaled $4,803 per ton.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Afghanistan (+24.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports of Cumin Seeds, Crushed or Ground in Turkey

In 2022, overseas shipments of cumin seeds, crushed or ground decreased by -41.5% to 1.4K tons, falling for the second year in a row after two years of growth. In general, exports faced a deep setback. The pace of growth was the most pronounced in 2020 with an increase of 23% against the previous year. As a result, the exports reached the peak of 2.9K tons. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, cumin seeds, crushed or ground exports reduced rapidly to $6.3M in 2022. Over the period under review, exports recorded a abrupt setback. The pace of growth appeared the most rapid in 2020 when exports increased by 42%. As a result, the exports reached the peak of $12M. From 2021 to 2022, the growth of the exports failed to regain momentum.

Top Export Markets for Cumin Seeds, Crushed or Ground from Turkey in 2022:

1. United Kingdom (390.9 tons)
2. United States (325.9 tons)
3. Germany (133.0 tons)
4. Belgium (119.2 tons)
5. Spain (103.2 tons)
6. Egypt (45.3 tons)
7. Australia (42.2 tons)
8. Netherlands (36.0 tons)
9. Cyprus (21.1 tons)
10. France (16.6 tons)

Imports of Cumin Seeds, Crushed or Ground in Turkey

In 2022, supplies from abroad of cumin seeds, crushed or ground decreased by -21.1% to 315 tons for the first time since 2018, thus ending a three-year rising trend. In general, imports, however, recorded a significant expansion. The pace of growth was the most pronounced in 2021 with an increase of 150%. As a result, imports reached the peak of 400 tons, and then declined markedly in the following year.

In value terms, cumin seeds, crushed or ground imports shrank rapidly to $1.1M in 2022. Over the period under review, imports, however, recorded a significant increase. The growth pace was the most rapid in 2021 with an increase of 289% against the previous year. As a result, imports attained the peak of $1.4M, and then contracted rapidly in the following year.

Top Suppliers of Cumin Seeds, Crushed or Ground to Turkey in 2022:

1. India (221.4 tons)
2. Afghanistan (74.0 tons)
3. United Kingdom (14.3 tons)

Source: IndexBox Market Intelligence Platform