Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Singapore - 2022
Contents:
- Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Singapore (CIF) - 2022
- Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Singapore (FOB) - 2022
- Imports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Singapore
- Exports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Singapore
Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Singapore (CIF) - 2022
The average import price for ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses stood at $3,161 per ton in September 2022, almost unchanged from the previous month. Over the last eight-month period, it increased at an average monthly rate of +1.4%. The pace of growth was the most pronounced in July 2022 when the average import price increased by 17% m-o-m. The import price peaked in September 2022.
There were significant differences in the average prices amongst the major supplying countries. In September 2022, the country with the highest price was Germany ($7,863 per ton), while the price for Thailand ($1,433 per ton) was amongst the lowest.
From January 2022 to September 2022, the most notable rate of growth in terms of prices was attained by China (+5.3%), 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 Singapore (FOB) - 2022
In 2022, the average export price for ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses amounted to $3,738 per ton, with a decrease of -11.1% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 46%. Over the period under review, the average export prices reached the maximum at $4,275 per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($5,044 per ton), while the average price for exports to South Africa ($1,385 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 Indonesia (+4.7%), 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 Singapore
In 2022, overseas purchases of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses decreased by -4.1% to 17K tons, falling for the second year in a row after two years of growth. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 when imports increased by 8.8%. As a result, imports reached the peak of 18K tons. From 2021 to 2022, the growth of imports of failed to regain momentum.
In value terms, imports of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses fell to $36M in 2022. Overall, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by 19% against the previous year. As a result, imports attained the peak of $43M. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.
Import of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Singapore (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Malaysia | 13.9 | 15.3 | 15.0 | 15.7 | 4.1% |
China | 8.1 | 11.3 | 9.0 | 6.0 | -9.5% |
India | 3.4 | 3.9 | 3.5 | 3.5 | 1.0% |
Thailand | 3.0 | 4.3 | 3.8 | 2.4 | -7.2% |
Germany | 1.5 | 1.3 | 1.6 | 1.9 | 8.2% |
Indonesia | 1.3 | 1.1 | 1.2 | 0.9 | -11.5% |
Myanmar | 0.5 | 0.6 | N/A | 0.1 | -41.5% |
Others | 4.4 | 5.3 | 6.1 | 5.7 | 9.0% |
Total | 36.2 | 43.2 | 40.2 | 36.1 | -0.1% |
Top Suppliers of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices to Singapore in 2022:
- Malaysia (6.4K tons)
- China (5.2K tons)
- Thailand (2.3K tons)
- India (1.3K tons)
- Germany (0.4K tons)
- Indonesia (0.3K tons)
- Myanmar (0.2K tons)
Exports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Singapore
In 2022, overseas shipments of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses decreased by -2.5% to 1.5K tons, falling for the second consecutive year after two years of growth. Over the period under review, exports faced a abrupt contraction. The pace of growth was the most pronounced in 2020 when exports increased by 1.4% against the previous year. As a result, the exports attained the peak of 2.2K tons. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.
In value terms, exports of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses reduced to $5.6M in 2022. Overall, exports faced a drastic downturn. The pace of growth was the most pronounced in 2020 with an increase of 1.9%. As a result, the exports reached the peak of $9.2M. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.
Export of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Singapore (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Hong Kong SAR | 913 | 839 | 1,142 | 1,085 | 5.9% |
Malaysia | 914 | 703 | 756 | 937 | 0.8% |
Philippines | 405 | 492 | 620 | 636 | 16.2% |
Vietnam | 349 | 90.5 | 163 | 279 | -7.2% |
Australia | 128 | 214 | 346 | 240 | 23.3% |
Fiji | 72.5 | 94.8 | 136 | 234 | 47.8% |
Indonesia | 519 | 277 | 357 | 227 | -24.1% |
Brunei Darussalam | 182 | 185 | 168 | 177 | -0.9% |
Papua New Guinea | 274 | 351 | 96.0 | 144 | -19.3% |
Taiwan (Chinese) | 372 | 158 | 104 | 131 | -29.4% |
Maldives | 146 | 83.6 | 169 | 96.7 | -12.8% |
Lebanon | N/A | N/A | N/A | 58.4 | 0% |
South Africa | N/A | 32.5 | 36.7 | 37.4 | 7.3% |
Others | 4,776 | 5,699 | 2,388 | 1,336 | -34.6% |
Total | 9,049 | 9,219 | 6,483 | 5,619 | -14.7% |
Top Export Markets for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices from Singapore in 2022:
- Hong Kong SAR (478.7 tons)
- Philippines (215.6 tons)
- Malaysia (192.4 tons)
- Fiji (101.4 tons)
- Indonesia (64.6 tons)
- Vietnam (55.4 tons)
- Australia (53.2 tons)
- Papua New Guinea (49.7 tons)
- Brunei Darussalam (35.5 tons)
- Lebanon (32.8 tons)
- Taiwan (Chinese) (29.1 tons)
- South Africa (27.0 tons)
- Maldives (26.5 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).
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.
The global ginger market revenue amounted to $5.3B in 2018, jumping by 2.8% against the previous year. This figure...
Global ginger consumption amounted to X thousand tons in 2015, picking up by +X% against the previous year level.
Global ginger imports amounted to X thousand tons in 2015, picking up by +X% against the previous year level.
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>
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
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
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.
The global ginger production was estimated at X thousand tons in 2015, which was X thousand tons (or X%) more than in 2014.