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

Contents:

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

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

The average import price for ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses stood at $3,570 per ton in 2022, reducing by -22.5% against the previous year. Over the last decade, it increased at an average annual rate of +1.5%. The most prominent rate of growth was recorded in 2017 an increase of 20%. Over the period under review, average import prices hit record highs at $4,606 per ton in 2021, and then contracted rapidly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Czech Republic ($8,781 per ton), while the price for Israel ($1,752 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lithuania (+14.4%), 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 Slovakia (FOB) - 2022

In 2022, the average export price for ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses amounted to $5,770 per ton, with a decrease of -3.8% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 an increase of 64%. Over the period under review, the average export prices attained the peak figure at $9,246 per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Slovenia ($9,619 per ton), while the average price for exports to Bulgaria ($3,049 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 Slovenia (+15.3%), 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 Slovakia

In 2022, imports of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses into Slovakia expanded markedly to 1.1K tons, surging by 13% compared with the previous year's figure. The total import volume increased at an average annual rate of +10.7% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 with an increase of 21% against the previous year. Over the period under review, imports of reached the peak figure in 2022 and are likely to continue growth in the near future.

In value terms, imports of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses shrank to $3.9M in 2022. In general, total imports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +11.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of 45%.

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

1. China (292.3 tons)
2. Brazil (177.4 tons)
3. India (156.0 tons)
4. Netherlands (137.2 tons)
5. Turkey (37.5 tons)
6. Czech Republic (34.6 tons)
7. Nigeria (31.9 tons)
8. Germany (22.8 tons)
9. Israel (22.2 tons)
10. Poland (20.5 tons)
11. Egypt (15.9 tons)
12. South Africa (15.6 tons)

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

For the fourth year in a row, Slovakia recorded growth in overseas shipments of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses, which increased by 3% to 132 tons in 2022. The total export volume increased at an average annual rate of +4.4% from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 6%. Over the period under review, the exports of attained the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, exports of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses reduced to $763K in 2022. The total export value increased at an average annual rate of +5.7% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when exports increased by 46%. As a result, the exports attained the peak of $946K. From 2021 to 2022, the growth of the exports of remained at a lower figure.

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

1. Czech Republic (90.3 tons)
2. Hungary (18.8 tons)
3. Poland (7.6 tons)
4. Romania (4.1 tons)
5. Austria (3.6 tons)
6. Bulgaria (2.2 tons)
7. Slovenia (2.0 tons)

Source: IndexBox Market Intelligence Platform