Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Latvia - 2023
Contents:
- Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Latvia (CIF) - 2023
- Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Latvia (FOB) - 2022
- Imports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Latvia
- Exports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Latvia
Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Latvia (CIF) - 2023
In November 2023, the average import price for ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses amounted to $4,774 per ton, which is down by -32.8% against the previous month. Over the period under review, import price indicated a tangible expansion from November 2022 to November 2023: its price increased at an average monthly rate of +2.0% 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, import price for ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses decreased by -32.8% against October 2023 indices. The growth pace was the most rapid in February 2023 an increase of 69% month-to-month. Over the period under review, average import prices attained the maximum at $7,100 per ton in October 2023, and then declined dramatically in the following month.
Prices varied noticeably by the country of origin: the country with the highest price was Estonia ($13,820 per ton), while the price for Egypt ($914 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 India (+11.9%), 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 Latvia (FOB) - 2022
In 2022, the average export price for ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses amounted to $3,504 per ton, which is down by -8.1% against the previous year. In general, the export price showed a perceptible decrease. The most prominent rate of growth was recorded in 2020 when the average export price increased by 16%. The export price peaked at $5,064 per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Estonia ($5,307 per ton), while the average price for exports to Romania ($2,712 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 the Czech Republic (+7.6%), 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 Latvia
In 2022, overseas purchases of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses decreased by -11.2% to 2K tons for the first time since 2018, thus ending a three-year rising trend. The total import volume increased at an average annual rate of +7.8% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 with an increase of 23%.
In value terms, imports of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses contracted to $6.8M in 2022. In general, total imports indicated a remarkable increase from 2019 to 2022: its value increased at an average annual rate of +12.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +42.5% against 2019 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 41%.
| Import of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Lithuania | 1,716 | 2,117 | 2,294 | 2,174 | 8.2% |
| Germany | 524 | 690 | 828 | 955 | 22.1% |
| Estonia | 592 | 784 | 1,025 | 897 | 14.9% |
| India | 331 | 402 | 635 | 641 | 24.6% |
| Bulgaria | 281 | 537 | 553 | 418 | 14.2% |
| Poland | 184 | 440 | 461 | 395 | 29.0% |
| Netherlands | 325 | 579 | 582 | 388 | 6.1% |
| Turkey | 302 | 374 | 306 | 213 | -11.0% |
| Nigeria | 85.1 | 82.8 | 192 | 134 | 16.3% |
| Peru | 52.5 | 99.6 | 170 | 131 | 35.6% |
| Egypt | 50.6 | 21.1 | 57.9 | 84.1 | 18.5% |
| Others | 335 | 598 | 652 | 379 | 4.2% |
| Total | 4,779 | 6,725 | 7,755 | 6,809 | 12.5% |
Top Suppliers of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices to Latvia in 2022:
- Lithuania (605.7 tons)
- India (339.5 tons)
- Germany (223.6 tons)
- Netherlands (165.6 tons)
- Poland (126.3 tons)
- Estonia (95.1 tons)
- Turkey (85.0 tons)
- Bulgaria (84.8 tons)
- Peru (75.0 tons)
- Nigeria (58.2 tons)
- Egypt (43.5 tons)
Exports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Latvia
In 2022, approx. 830 tons of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses were exported from Latvia; with a decrease of -33.6% compared with 2021. Overall, exports showed a abrupt decline. The growth pace was the most rapid in 2021 when exports increased by 39% against the previous year. As a result, the exports attained the peak of 1.3K tons, and then dropped markedly in the following year.
In value terms, exports of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses shrank significantly to $2.9M in 2022. Over the period under review, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by 60% against the previous year. As a result, the exports attained the peak of $4.8M, and then contracted notably in the following year.
| Export of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Poland | 550 | 488 | 953 | 616 | 3.8% |
| Estonia | 672 | 689 | 789 | 581 | -4.7% |
| Lithuania | 366 | 642 | 802 | 491 | 10.3% |
| Romania | 286 | 226 | 457 | 393 | 11.2% |
| Russia | 298 | 392 | 373 | 269 | -3.4% |
| Hungary | 63.8 | 94.8 | 119 | 121 | 23.8% |
| Ukraine | 131 | 110 | 158 | 87.7 | -12.5% |
| Czech Republic | 279 | 69.1 | 91.2 | 64.7 | -38.6% |
| Bulgaria | 59.2 | 43.0 | 40.4 | 55.2 | -2.3% |
| Malta | 86.6 | 80.9 | 33.5 | N/A | -37.8% |
| Others | 154 | 148 | 950 | 229 | 14.1% |
| Total | 2,946 | 2,984 | 4,768 | 2,907 | -0.4% |
Top Export Markets for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices from Latvia in 2022:
- Poland (193.6 tons)
- Romania (144.8 tons)
- Lithuania (122.5 tons)
- Estonia (109.5 tons)
- Russia (81.9 tons)
- Hungary (43.8 tons)
- Ukraine (29.3 tons)
- Bulgaria (21.9 tons)
- Czech Republic (18.3 tons)
241
This report provides an in-depth analysis of the ginger market in Latvia.
123
This report provides an in-depth analysis of the market for spices except pepper or ginger in Latvia.
133
This report provides an in-depth analysis of the market for dog and cat food in Latvia.
105
This report provides an in-depth analysis of the apricot market in Latvia.
160
This report provides an in-depth analysis of the virgin olive oil market in Latvia.
443
This report provides an in-depth analysis of the paint and varnish market in Latvia.
176
This report provides an in-depth analysis of the olive oil market in Latvia.
82
This report provides an in-depth analysis of the encased lead pencil market in Latvia.
126
This report provides an in-depth analysis of the diphosphorus pentaoxide market in Latvia.
141
This report provides an in-depth analysis of the market for glass rear-view vehicle mirror in Latvia.
1206
The global ginger market is forecast to reach USD 10.3 billion by 2030, growing at a CAGR of 4.7% during the forecast period (2022-2030).
1121
In the wake of the pandemic, the ginger market has accelerated its growth as demand for foods with a reputation for immunity system health has soared to unprecedented heights. India, which almost tripled its export of ginger in 2020, may become a serious competitor to the main global supplier - China. The majority of the developed countries have increased the volume of imports, which, in the context of Covid restrictions and a shortage of container traffic, has led to an increase in prices for the product.
818
The global ginger market revenue amounted to $5.3B in 2018, jumping by 2.8% against the previous year. This figure...
7737
Global ginger consumption amounted to X thousand tons in 2015, picking up by +X% against the previous year level.
8673
Global ginger imports amounted to X thousand tons in 2015, picking up by +X% against the previous year level.
1414
The global ginger market recorded a positive trend over the period under review, growing from X thousand tons in 2007 to X thousand tons in 2015 with a CAGR +X>
7995
The value of total imports on the global ginger market in 2015 stood at X million USD. There was an annual increase of +X% for the period from 2007 to 2015. In physical terms, imports of ginger was X thousand tons i
12103
In 2015, the leading ginger consuming markets were India (X%), Indonesia (X%), Nepal (X%), Nigeria (X%), and China (X%), together accounting for approximately X% of global consumption. These countries were also amongst the leading producers on the g
1705
From 2007 to 2015, global exports on the ginger market grew by +X% per year, amounting to X million USD in 2015. In physical terms, exports were X thousand tons in 2015, X thousand tons more than the year before.
3488
The global ginger production was estimated at X thousand tons in 2015, which was X thousand tons (or X%) more than in 2014.
