Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Morocco - 2023

Contents:

1. Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Morocco (CIF) - 2023
2. Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Morocco (FOB) - 2022
3. Imports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Morocco
4. Exports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Morocco

Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Morocco (CIF) - 2023

The average import price for ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses stood at $1,462 per ton in June 2023, reducing by -18.2% against the previous month. Overall, the import price saw a mild slump. The most prominent rate of growth was recorded in November 2022 an increase of 12% against the previous month. The import price peaked at $1,788 per ton in May 2023, and then shrank rapidly in the following month.

There were significant differences in the average prices amongst the major supplying countries. In June 2023, the country with the highest price was China ($2,975 per ton), while the price for Tunisia ($756 per ton) was amongst the lowest.

From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by China (+3.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Morocco (FOB) - 2022

In 2022, the average export price for ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses amounted to $5,394 per ton, picking up by 12% against the previous year. Overall, export price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +8.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses increased by +51.4% against 2018 indices. The pace of growth was the most pronounced in 2021 an increase of 36% against the previous year. The export price peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Australia ($6,986 per ton), while the average price for exports to Japan ($2,658 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 Mauritania (+18.0%), 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 Morocco

For the fourth consecutive year, Morocco recorded growth in overseas purchases of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses, which increased by 22% to 26K tons in 2022. In general, total imports indicated strong growth from 2019 to 2022: its volume increased at an average annual rate of +18.9% 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 +67.9% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 28% against the previous year. Over the period under review, imports of reached the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, imports of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses reached $44M in 2022. Overall, total imports indicated a significant expansion from 2019 to 2022: its value increased at an average annual rate of +20.1% 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 +73.2% against 2019 indices. The pace of growth was the most pronounced in 2021 when imports increased by 60% against the previous year. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in the immediate term.

Top Suppliers of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices to Morocco in 2022:

1. India (18.6K tons)
2. Tunisia (3.7K tons)
3. Myanmar (1.3K tons)
4. China (0.9K tons)
5. Egypt (0.7K tons)
6. Nigeria (0.5K tons)

Exports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Morocco

For the third consecutive year, Morocco recorded decline in overseas shipments of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses, which decreased by -9.7% to 1.8K tons in 2022. Overall, exports showed a abrupt slump. The smallest decline of -4% was in 2020.

In value terms, exports of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses stood at $9.6M in 2022. The total export value increased at an average annual rate of +7.1% 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 2021 when exports increased by 25%. The exports peaked in 2022 and are expected to retain growth in years to come.

Top Export Markets for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices from Morocco in 2022:

1. Nigeria (727.6 tons)
2. Sri Lanka (200.0 tons)
3. Turkey (140.3 tons)
4. Japan (103.5 tons)
5. China (84.9 tons)
6. Spain (77.8 tons)
7. United Kingdom (66.8 tons)
8. Canada (66.2 tons)
9. Belgium (50.8 tons)
10. Mauritania (36.7 tons)
11. Germany (32.1 tons)
12. Australia (31.5 tons)
13. Italy (28.6 tons)

Source: IndexBox Market Intelligence Platform