Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Nigeria - 2022
Contents:
- Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Nigeria (FOB) - 2022
- Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Nigeria (CIF) - 2022
- Exports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Nigeria
- Imports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Nigeria
Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Nigeria (FOB) - 2022
In 2022, the average export price for ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses amounted to $683 per ton, declining by -35.3% against the previous year. Overall, the export price showed a abrupt setback. The most prominent rate of growth was recorded in 2014 an increase of 12%. Over the period under review, the average export prices reached the peak figure at $2,623 per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($706 per ton), while the average price for exports to Myanmar totaled $63 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Morocco (+7.4%), while the prices for the other major destinations experienced a decline.
Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Nigeria (CIF) - 2022
The average import price for ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses stood at $2,348 per ton in 2022, growing by 111% against the previous year. In general, the import price enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2014 an increase of 134%. Over the period under review, average import prices reached the maximum at $5,108 per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.
As there is only one major supplying country, the average price level is determined by prices for the United Arab Emirates.
From 2012 to 2022, the rate of growth in terms of prices for the United Arab Emirates amounted to +7.9% per year.
Exports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Nigeria
For the fourth year in a row, Nigeria recorded growth in overseas shipments of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses, which increased by 121% to 78K tons in 2022. In general, exports recorded a significant expansion. The pace of growth appeared the most rapid in 2020 with an increase of 145%. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.
In value terms, exports of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses skyrocketed to $54M in 2022. Over the period under review, exports saw a significant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 101%. Over the period under review, the exports of reached the maximum in 2022 and are likely to see gradual growth in years to come.
| Export of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Nigeria (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Arab Emirates | 3.5 | 8.9 | 9.2 | 53.4 | 148.0% |
| Myanmar | N/A | N/A | N/A | 0.2 | 0% |
| India | 2.7 | 3.7 | 8.3 | N/A | 75.3% |
| Sudan | N/A | 1.7 | 4.6 | N/A | 170.6% |
| Others | 4.1 | 6.6 | 15.4 | N/A | 93.8% |
| Total | 10.4 | 20.9 | 37.5 | 53.6 | 72.7% |
Top Export Markets for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices from Nigeria in 2022:
- United Arab Emirates (75.6K tons)
- Myanmar (2.9K tons)
Imports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Nigeria
Imports of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses into Nigeria shrank to 14K tons in 2022, waning by -5% on the previous year. Over the period under review, imports saw a mild descent. The pace of growth was the most pronounced in 2021 when imports increased by 2.5% against the previous year. As a result, imports reached the peak of 15K tons, and then fell in the following year.
In value terms, imports of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses surged to $34M in 2022. Overall, imports, however, showed a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Nigeria (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Arab Emirates | 0.1 | 0.6 | 0.8 | 33.7 | 595.9% |
| China | 5.6 | 2.0 | 3.6 | N/A | -19.8% |
| Morocco | 1.8 | 2.7 | 2.0 | N/A | 5.4% |
| France | 1.5 | 2.0 | 1.5 | N/A | 0.0% |
| India | 6.7 | 13.7 | 6.1 | N/A | -4.6% |
| Others | 0.7 | 1.7 | 2.9 | N/A | 103.5% |
| Total | 16.5 | 22.8 | 16.9 | 33.7 | 26.9% |
Top Suppliers of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices to Nigeria in 2022:
- United Arab Emirates (14.4K tons)
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