Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Panama - 2023
Contents:
- Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Panama (CIF) - 2022
- Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Panama (FOB) - 2022
- Imports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Panama
- Exports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Panama
Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Panama (CIF) - 2022
The average import price for ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses stood at $4,975 per ton in 2022, surging by 1.7% against the previous year. Overall, import price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of +6.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses decreased by -3.7% against 2020 indices. The growth pace was the most rapid in 2013 an increase of 82%. The import price peaked at $5,269 per ton in 2017; however, from 2018 to 2022, import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($7,747 per ton), while the price for Free Zones ($2,910 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+4.8%), 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 Panama (FOB) - 2022
The average export price for ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses stood at $1,445 per ton in 2022, dropping by -62.3% against the previous year. Over the period under review, the export price showed a abrupt curtailment. The growth pace was the most rapid in 2020 when the average export price increased by 40% against the previous year. Over the period under review, the average export prices hit record highs at $6,060 per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.
Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($1,900 per ton), while the average price for exports to Spain ($1,303 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 Guatemala (-10.2%), 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 Panama
Imports of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses into Panama fell dramatically to 242 tons in 2022, which is down by -20.3% on 2021. In general, imports saw a noticeable setback. The pace of growth was the most pronounced in 2021 with an increase of 21% against the previous year. As a result, imports attained the peak of 304 tons, and then reduced sharply in the following year.
In value terms, imports of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses contracted markedly to $1.2M in 2022. The total import value increased at an average annual rate of +3.8% 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 21%.
| Import of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Panama (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 465 | 577 | 537 | 425 | -3.0% |
| India | 197 | 163 | 354 | 224 | 4.4% |
| China | 53.2 | 169 | 220 | 134 | 36.1% |
| Spain | 58.5 | 89.7 | 75.3 | 132 | 31.2% |
| Peru | 93.5 | 44.7 | 49.1 | 106 | 4.3% |
| Egypt | 33.0 | 50.0 | 54.4 | 57.5 | 20.3% |
| Turkey | 44.6 | 46.9 | 56.6 | 51.1 | 4.6% |
| Costa Rica | 47.3 | 83.8 | 72.9 | 21.0 | -23.7% |
| Others | 85.3 | 74.4 | 68.8 | 55.8 | -13.2% |
| Total | 1,077 | 1,298 | 1,488 | 1,206 | 3.8% |
Top Suppliers of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices to Panama in 2022:
- United States (64.0 tons)
- India (62.1 tons)
- China (35.5 tons)
- Peru (33.0 tons)
- Spain (17.0 tons)
- Egypt (9.3 tons)
- Turkey (7.2 tons)
- Costa Rica (4.5 tons)
Exports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Panama
Exports of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses from Panama surged to 77 tons in 2022, jumping by 165% against 2021 figures. Over the period under review, exports continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 475%. The exports peaked in 2022 and are likely to see gradual growth in the near future.
In value terms, exports of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses reached $111K in 2022. In general, exports posted a strong increase. The pace of growth was the most pronounced in 2021 when exports increased by 278% against the previous year. Over the period under review, the exports of attained the maximum in 2022 and are likely to see gradual growth in the near future.
| Export of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Panama (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Spain | N/A | N/A | 80.8 | 61.6 | -23.8% |
| United States | N/A | N/A | N/A | 29.3 | 0% |
| Belgium | N/A | N/A | 30.0 | 20.0 | -33.3% |
| Haiti | N/A | 16.8 | N/A | N/A | 0% |
| Guatemala | 45.5 | N/A | N/A | N/A | 0% |
| Others | 30.0 | 12.5 | 0.1 | N/A | -94.2% |
| Total | 75.4 | 29.3 | 111 | 111 | 13.8% |
Top Export Markets for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices from Panama in 2022:
- Spain (47.2 tons)
- United States (15.4 tons)
- Belgium (14.0 tons)
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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).
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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.
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The global ginger market revenue amounted to $5.3B in 2018, jumping by 2.8% against the previous year. This figure...
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Global ginger consumption amounted to X thousand tons in 2015, picking up by +X% against the previous year level.
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Global ginger imports amounted to X thousand tons in 2015, picking up by +X% against the previous year level.
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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>
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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
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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
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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.
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The global ginger production was estimated at X thousand tons in 2015, which was X thousand tons (or X%) more than in 2014.
