Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Kuwait - 2022
Contents:
- Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Kuwait (CIF) - 2022
- Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Kuwait (FOB) - 2022
- Imports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Kuwait
- Exports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Kuwait
Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Kuwait (CIF) - 2022
The average import price for ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses stood at $4,572 per ton in December 2022, with an increase of 3% against the previous month. Over the period under review, import price indicated a strong expansion from December 2021 to December 2022: its price increased at an average monthly rate of +6.8% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on December 2022 figures, import price for ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses increased by +23.7% against October 2022 indices. The pace of growth was the most pronounced in January 2022 when the average import price increased by 122% month-to-month. The import price peaked at $4,724 per ton in March 2022; however, from April 2022 to December 2022, import prices remained at a lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Denmark ($6,012 per ton), while the price for China ($2,044 per ton) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by Bangladesh (+14.3%), 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 Kuwait (FOB) - 2022
The average export price for ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses stood at $4,415 per ton in December 2022, with an increase of 13% against the previous month. Overall, the export price, however, saw a abrupt contraction. Over the period under review, the average export prices attained the maximum at $9,022 per ton in December 2021; however, from January 2022 to December 2022, the export prices remained at a lower figure.
There were significant differences in the average prices for the major external markets. In December 2022, the country with the highest price was Saudi Arabia ($5,268 per ton), while the average price for exports to the United Arab Emirates ($3,419 per ton) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to Jordan (+1.8%), while the prices for the other major destinations experienced a decline.
Imports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Kuwait
In 2022, imports of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses into Kuwait reached 13K tons, with an increase of 7% compared with 2021. The total import volume increased at an average annual rate of +4.1% over the period from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 when imports increased by 23% against the previous year. As a result, imports reached the peak of 14K tons. From 2021 to 2022, the growth of imports of failed to regain momentum.
In value terms, imports of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses declined slightly to $29M in 2022. The total import value increased at an average annual rate of +3.6% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by 43%. As a result, imports reached the peak of $37M. 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 Kuwait (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 6.8 | 9.4 | 5.6 | 7.7 | 4.2% |
| India | 5.7 | 6.4 | 6.5 | 6.9 | 6.6% |
| United Arab Emirates | 0.6 | 0.9 | 0.8 | 1.2 | 26.0% |
| Jordan | 1.0 | 0.9 | 1.1 | 1.2 | 6.3% |
| Pakistan | 0.8 | 1.0 | 0.9 | 1.0 | 7.7% |
| Bangladesh | 0.5 | 0.5 | 0.6 | 0.6 | 6.3% |
| Syrian Arab Republic | 0.3 | 0.3 | 0.4 | 0.4 | 10.1% |
| Others | 10.1 | 17.3 | 13.9 | 9.6 | -1.7% |
| Total | 25.7 | 36.7 | 29.7 | 28.6 | 3.6% |
Top Suppliers of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices to Kuwait in 2022:
- China (8.4K tons)
- India (1.8K tons)
- Jordan (0.5K tons)
- United Arab Emirates (0.3K tons)
- Pakistan (0.2K tons)
- Syrian Arab Republic (0.2K tons)
- Bangladesh (0.1K tons)
Exports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Kuwait
For the fourth year in a row, Kuwait recorded growth in overseas shipments of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses, which increased by 0.3% to 665 tons in 2022. Overall, exports enjoyed a significant expansion. The growth pace was the most rapid in 2020 with an increase of 644% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.
In value terms, exports of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses fell to $2.7M in 2022. Over the period under review, exports posted significant growth. The pace of growth was the most pronounced in 2020 with an increase of 806%.
| Export of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Kuwait (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Saudi Arabia | N/A | 336 | 693 | 987 | 71.4% |
| Qatar | 27.4 | 278 | 532 | 506 | 164.3% |
| Jordan | 130 | 1,537 | 1,232 | 373 | 42.1% |
| Oman | N/A | 0.3 | 164 | 359 | 3359.3% |
| United Arab Emirates | N/A | 92.7 | 169 | 348 | 93.8% |
| Iraq | 92.9 | 1.9 | 40.7 | 85.0 | -2.9% |
| Others | 1.0 | 31.3 | 57.1 | 28.5 | 205.5% |
| Total | 251 | 2,277 | 2,888 | 2,688 | 120.4% |
Top Export Markets for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices from Kuwait in 2022:
- Saudi Arabia (240.8 tons)
- Qatar (121.7 tons)
- Oman (89.7 tons)
- Jordan (85.6 tons)
- United Arab Emirates (76.4 tons)
- Iraq (44.4 tons)
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