Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Thailand - 2024
Contents:
- Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Thailand (FOB) - 2022
- Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Thailand (CIF) - 2024
- Exports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Thailand
- Imports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Thailand
Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Thailand (FOB) - 2022
In 2022, the average export price for ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses amounted to $681 per ton, with a decrease of -33.1% against the previous year. Over the period under review, the export price recorded a pronounced descent. The most prominent rate of growth was recorded in 2014 an increase of 70%. As a result, the export price reached the peak level of $1,554 per ton. From 2015 to 2022, the average export prices failed to regain momentum.
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 the United States ($3,257 per ton), while the average price for exports to Pakistan ($435 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 the United States (+8.4%), 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 Thailand (CIF) - 2024
In January 2024, the average import price for ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses amounted to $1,302 per ton, waning by -28.7% against the previous month. In general, the import price showed a perceptible decrease. The pace of growth was the most pronounced in June 2023 when the average import price increased by 77% month-to-month. Over the period under review, average import prices hit record highs at $3,953 per ton in July 2023; however, from August 2023 to January 2024, import prices stood at a somewhat lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Malaysia ($6,697 per ton), while the price for Lao People's Democratic Republic ($125 per ton) was amongst the lowest.
From January 2023 to January 2024, the most notable rate of growth in terms of prices was attained by Vietnam (+14.6%), while the prices for the other major suppliers experienced mixed trend patterns.
Exports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Thailand
In 2022, shipments abroad of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses was finally on the rise to reach 107K tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, total exports indicated buoyant growth from 2019 to 2022: its volume increased at an average annual rate of +12.1% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached 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 expanded notably to $73M in 2022. In general, exports continue to indicate a relatively flat trend pattern.
| Export of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Thailand (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Pakistan | 22.3 | 35.3 | 25.1 | 32.1 | 12.9% |
| Japan | 11.7 | 13.0 | 14.3 | 14.2 | 6.7% |
| Malaysia | 3.8 | 1.1 | 2.1 | 6.0 | 16.4% |
| United States | 4.3 | 4.2 | 4.5 | 3.2 | -9.4% |
| Netherlands | 2.9 | 2.0 | 2.6 | 3.0 | 1.1% |
| New Zealand | 2.6 | 2.8 | 3.0 | 1.9 | -9.9% |
| China | 1.8 | 1.7 | 2.2 | 0.4 | -39.4% |
| Bangladesh | 5.9 | 0.1 | N/A | 0.2 | -67.6% |
| Indonesia | 7.4 | 4.6 | 0.8 | N/A | -67.1% |
| Others | 9.2 | 9.7 | 13.5 | 11.6 | 8.0% |
| Total | 71.8 | 74.4 | 68.1 | 72.6 | 0.4% |
Top Export Markets for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices from Thailand in 2022:
- Pakistan (73.8K tons)
- Malaysia (11.1K tons)
- Japan (9.8K tons)
- Netherlands (2.0K tons)
- New Zealand (1.5K tons)
- United States (1.0K tons)
- China (1.0K tons)
- Bangladesh (0.5K tons)
- Indonesia (0.1K tons)
Imports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Thailand
In 2022, overseas purchases of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses decreased by -29.9% to 20K tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, imports, however, continue to indicate a significant increase. The pace of growth was the most pronounced in 2021 when imports increased by 80%. As a result, imports attained the peak of 28K tons, and then fell rapidly in the following year.
In value terms, imports of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses reduced markedly to $27M in 2022. Overall, imports, however, saw a prominent expansion. The pace of growth appeared the most rapid in 2020 when imports increased by 68% against the previous year.
| Import of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Thailand (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 11.8 | 22.1 | 35.5 | 21.7 | 22.5% |
| India | 0.8 | 0.9 | 1.3 | 1.2 | 14.5% |
| Myanmar | 0.3 | 1.5 | 1.6 | 0.5 | 18.6% |
| Others | 3.3 | 2.8 | 4.6 | 3.6 | 2.9% |
| Total | 16.2 | 27.3 | 43.1 | 27.1 | 18.7% |
Top Suppliers of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices to Thailand in 2022:
- China (17.7K tons)
- Myanmar (1.0K tons)
- India (0.4K tons)
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