Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Pakistan - 2023
Contents:
- Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Pakistan (FOB) - 2023
- Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Pakistan (CIF) - 2023
- Exports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Pakistan
- Imports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Pakistan
Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Pakistan (FOB) - 2023
In July 2023, the average export price for ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses amounted to $3,467 per ton, declining by -29.8% against the previous month. Overall, the export price showed a slight contraction. The growth pace was the most rapid in February 2023 an increase of 20% month-to-month. The export price peaked at $5,467 per ton in December 2022; however, from January 2023 to July 2023, the export prices failed to regain momentum.
There were significant differences in the average prices for the major external markets. In July 2023, the country with the highest price was Germany ($8,401 per ton), while the average price for exports to Indonesia ($586 per ton) was amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+3.8%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Pakistan (CIF) - 2023
The average import price for ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses stood at $645 per ton in July 2023, approximately reflecting the previous month. Over the period under review, the import price showed slight growth. The growth pace was the most rapid in June 2023 an increase of 21% m-o-m. The import price peaked at $651 per ton in April 2023; however, from May 2023 to July 2023, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In July 2023, the country with the highest price was China ($1,627 per ton), while the price for Ethiopia ($318 per ton) was amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by China (+9.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Pakistan
Exports of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses from Pakistan soared to 41K tons in 2022, jumping by 102% compared with the previous year's figure. Overall, exports showed a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, exports of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses declined slightly to $92M in 2022. The total export value increased at an average annual rate of +7.4% over the period from 2019 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 14% against the previous year. As a result, the exports attained the peak of $94M, and then declined in the following year.
| Export of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Pakistan (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Arab Emirates | 10.8 | 7.2 | 7.6 | 91.1 | 103.6% |
| United Kingdom | 10.2 | 11.2 | 13.5 | N/A | 15.0% |
| Australia | 2.8 | 3.6 | 3.9 | N/A | 18.0% |
| Saudi Arabia | 16.8 | 23.2 | 24.9 | N/A | 21.7% |
| United States | 12.3 | 13.7 | 18.0 | N/A | 21.0% |
| Canada | 5.0 | 6.0 | 5.3 | N/A | 3.0% |
| Others | 16.1 | 17.1 | 20.5 | 0.4 | -70.8% |
| Total | 73.9 | 82.0 | 93.7 | 91.6 | 7.4% |
Top Export Markets for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices from Pakistan in 2022:
- United Arab Emirates (40.4K tons)
Imports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Pakistan
In 2022, approx. 73K tons of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses were imported into Pakistan; waning by -12.1% against the previous year's figure. Over the period under review, imports showed a abrupt decrease. The growth pace was the most rapid in 2021 with an increase of 0.3%.
In value terms, imports of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses reduced notably to $66M in 2022. Overall, imports showed a deep reduction. The most prominent rate of growth was recorded in 2021 with an increase of 19% against the previous year. As a result, imports reached the peak of $115M, and then dropped remarkably in the following year.
| Import of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Pakistan (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Arab Emirates | 0.2 | 0.7 | 1.9 | 63.6 | 582.6% |
| Myanmar | 0.3 | 0.3 | 0.3 | 2.8 | 110.5% |
| Thailand | 23.8 | 29.8 | 37.0 | N/A | 24.7% |
| China | 61.4 | 64.8 | 73.1 | N/A | 9.1% |
| Others | 1.0 | 1.2 | 3.2 | N/A | 78.9% |
| Total | 86.7 | 96.8 | 115 | 66.4 | -8.5% |
Top Suppliers of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices to Pakistan in 2022:
- United Arab Emirates (66.4K tons)
- Myanmar (6.7K tons)
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