Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Italy - 2023
Contents:
- Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Italy (CIF) - 2023
- Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Italy (FOB) - 2023
- Imports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Italy
- Exports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Italy
Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Italy (CIF) - 2023
The average import price for ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses stood at $5,115 per ton in November 2023, rising by 59% against the previous month. Over the period under review, the import price enjoyed modest growth. The pace of growth was the most pronounced in May 2023 an increase of 70% against the previous month. Over the period under review, average import prices hit record highs at $7,876 per ton in June 2023; however, from July 2023 to November 2023, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In November 2023, the country with the highest price was Spain ($8,448 per ton), while the price for China ($1,514 per ton) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by the Netherlands (+9.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Italy (FOB) - 2023
The average export price for ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses stood at $7,867 per ton in November 2023, dropping by -34.8% against the previous month. Overall, export price indicated a measured increase from November 2022 to November 2023: its price increased at an average monthly rate of +2.5% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on November 2023 figures, export price for ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses decreased by -34.8% against October 2023 indices. The pace of growth appeared the most rapid in July 2023 when the average export price increased by 51% m-o-m. The export price peaked at $12,060 per ton in October 2023, and then shrank remarkably in the following month.
Prices varied noticeably by the country of destination: the country with the highest price was the United States ($23,893 per ton), while the average price for exports to Belgium ($4,136 per ton) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+8.4%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Italy
In 2022, approx. 11K tons of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses were imported into Italy; growing by 4% compared with the previous year's figure. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 5.2%. As a result, imports attained the peak of 11K tons. From 2021 to 2022, the growth of imports of remained at a lower figure.
In value terms, imports of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses contracted to $41M in 2022. The total import value increased at an average annual rate of +3.1% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of 35%. As a result, imports reached the peak of $51M. From 2021 to 2022, the growth of imports of failed to regain momentum.
| Import of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Italy (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Spain | 7.3 | 9.3 | 7.4 | 10.2 | 11.8% |
| Germany | 5.1 | 8.1 | 6.1 | 7.0 | 11.1% |
| Netherlands | 3.8 | 6.7 | 5.5 | 5.3 | 11.7% |
| Iran | 3.9 | 2.3 | 2.8 | 5.1 | 9.4% |
| China | 6.5 | 5.1 | 4.5 | 2.6 | -26.3% |
| India | 1.4 | 1.3 | 1.9 | 1.6 | 4.6% |
| Austria | 1.5 | 2.1 | 1.6 | 1.3 | -4.7% |
| Brazil | 1.1 | 1.6 | 2.0 | 1.2 | 2.9% |
| Peru | 0.6 | 1.1 | 1.3 | 0.7 | 5.3% |
| Romania | 0.6 | 0.7 | 1.2 | 0.6 | 0.0% |
| United Kingdom | 1.4 | 1.9 | 0.1 | 0.2 | -47.7% |
| Others | 4.3 | 10.9 | 10.6 | 5.6 | 9.2% |
| Total | 37.7 | 51.1 | 45.1 | 41.3 | 3.1% |
Top Suppliers of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices to Italy in 2022:
- Netherlands (3375.6 tons)
- China (1599.5 tons)
- Germany (1163.3 tons)
- Iran (750.3 tons)
- Brazil (618.7 tons)
- Spain (580.7 tons)
- India (534.0 tons)
- Peru (433.3 tons)
- Romania (139.7 tons)
- Austria (102.1 tons)
- United Kingdom (41.4 tons)
Exports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Italy
In 2022, shipments abroad of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses decreased by -8.4% to 2.4K tons, falling for the second consecutive year after two years of growth. In general, exports continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2020 when exports increased by 23% against the previous year. As a result, the exports reached the peak of 3.8K tons. From 2021 to 2022, the growth of the exports of failed to regain momentum.
In value terms, exports of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses declined markedly to $13M in 2022. Overall, exports recorded a deep slump. The most prominent rate of growth was recorded in 2020 when exports increased by 27% against the previous year. As a result, the exports attained the peak of $20M. From 2021 to 2022, the growth of the exports of failed to regain momentum.
| Export of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Italy (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 2,688 | 3,444 | 2,577 | 1,954 | -10.1% |
| France | 1,138 | 1,656 | 1,643 | 1,308 | 4.8% |
| Netherlands | 2,421 | 3,800 | 2,098 | 1,222 | -20.4% |
| United States | 942 | 1,194 | 1,177 | 1,133 | 6.3% |
| United Kingdom | 1,733 | 1,906 | 804 | 747 | -24.5% |
| Spain | 586 | 698 | 987 | 612 | 1.5% |
| Austria | 577 | 527 | 595 | 449 | -8.0% |
| Malta | 160 | 207 | 317 | 399 | 35.6% |
| Belgium | 382 | 753 | 568 | 351 | -2.8% |
| Slovenia | 529 | 1,016 | 815 | 308 | -16.5% |
| Greece | 147 | 345 | 289 | 256 | 20.3% |
| Hungary | 113 | 127 | 140 | 190 | 18.9% |
| Latvia | 143 | 127 | 143 | 95.1 | -12.7% |
| Others | 4,351 | 4,445 | 4,784 | 4,079 | -2.1% |
| Total | 15,910 | 20,247 | 16,936 | 13,104 | -6.3% |
Top Export Markets for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices from Italy in 2022:
- France (484.9 tons)
- Germany (399.7 tons)
- Spain (226.2 tons)
- Slovenia (129.7 tons)
- Netherlands (126.8 tons)
- United Kingdom (118.0 tons)
- Malta (96.1 tons)
- Austria (90.6 tons)
- United States (67.4 tons)
- Greece (60.8 tons)
- Belgium (58.6 tons)
- Hungary (53.2 tons)
- Latvia (43.7 tons)
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