Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in the UK - 2023
Contents:
- Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in the UK (CIF) - 2023
- Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in the UK (FOB) - 2022
- Imports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in the UK
- Exports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in the UK
Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in the UK (CIF) - 2023
The average import price for ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses stood at $3,625 per ton in December 2023, picking up by 6.4% against the previous month. Over the period from December 2022 to December 2023, it increased at an average monthly rate of +1.7%. The most prominent rate of growth was recorded in March 2023 when the average import price increased by 12% against the previous month. Over the period under review, average import prices hit record highs at $3,651 per ton in July 2023; however, from August 2023 to December 2023, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In December 2023, the country with the highest price was Pakistan ($8,149 per ton), while the price for Nigeria ($1,427 per ton) was amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by Peru (+4.9%), 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 the UK (FOB) - 2022
The average export price for ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses stood at $5,586 per ton in 2022, declining by -3.1% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.9%. The pace of growth was the most pronounced in 2021 when the average export price increased by 14%. As a result, the export price reached the peak level of $5,765 per ton, and then shrank modestly in the following year.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($8,592 per ton), while the average price for exports to Pakistan ($1,145 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 Norway (+10.5%), 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 the UK
In 2022, supplies from abroad of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses decreased by -10.6% to 52K tons, falling for the second year in a row after two years of growth. Overall, imports saw a noticeable curtailment. The most prominent rate of growth was recorded in 2020 when imports increased by 11%. As a result, imports reached the peak of 62K tons. From 2021 to 2022, the growth of imports of remained at a lower figure.
In value terms, imports of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses shrank to $139M in 2022. The total import value increased at an average annual rate of +2.7% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2020 when imports increased by 23% against the previous year.
| Import of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in the UK (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 28.2 | 39.2 | 47.7 | 36.2 | 8.7% |
| India | 23.5 | 29.5 | 29.9 | 24.6 | 1.5% |
| Pakistan | 5.3 | 4.7 | 9.0 | 10.5 | 25.6% |
| Spain | 8.8 | 8.4 | 6.9 | 8.1 | -2.7% |
| Turkey | 3.7 | 3.6 | 4.0 | 4.5 | 6.7% |
| Germany | 9.7 | 17.6 | 7.5 | 4.4 | -23.2% |
| Peru | 0.2 | 1.6 | 2.4 | 3.9 | 169.2% |
| Thailand | 3.6 | 3.0 | 4.2 | 3.4 | -1.9% |
| Brazil | 1.1 | 2.6 | 3.4 | 3.1 | 41.3% |
| Egypt | 1.0 | 1.1 | 1.6 | 3.0 | 44.2% |
| Netherlands | 12.8 | 11.2 | 9.2 | 1.9 | -47.1% |
| Others | 30.0 | 34.8 | 35.7 | 34.9 | 5.2% |
| Total | 128 | 157 | 161 | 139 | 2.8% |
Top Suppliers of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices to the UK in 2022:
- China (23.4K tons)
- India (9.4K tons)
- Peru (2.4K tons)
- Brazil (1.8K tons)
- Pakistan (1.6K tons)
- Spain (1.3K tons)
- Egypt (1.2K tons)
- Netherlands (1.0K tons)
- Turkey (0.9K tons)
- Thailand (0.7K tons)
- Germany (0.6K tons)
Exports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in the UK
In 2022, shipments abroad of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses decreased by -18.6% to 4.9K tons, falling for the second year in a row after two years of growth. Overall, exports continue to indicate a abrupt shrinkage. The pace of growth appeared the most rapid in 2020 when exports increased by 10% against the previous year. As a result, the exports attained the peak of 8.6K tons. From 2021 to 2022, the growth of the exports of remained at a lower figure.
In value terms, exports of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses dropped rapidly to $27M in 2022. In general, exports continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2020 when exports increased by 22%. As a result, the exports reached the peak of $44M. From 2021 to 2022, the growth of the exports of remained at a lower figure.
| Export of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in the UK (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 5.4 | 6.9 | 9.1 | 10.1 | 23.2% |
| Ireland | 5.8 | 7.2 | 5.5 | 4.2 | -10.2% |
| Netherlands | 1.7 | 3.4 | 5.5 | 3.3 | 24.7% |
| Germany | 3.4 | 4.9 | 0.8 | 1.0 | -33.5% |
| United Arab Emirates | 1.8 | 2.0 | 2.2 | 0.8 | -23.7% |
| France | 2.1 | 1.7 | 1.6 | 0.8 | -27.5% |
| Thailand | 0.1 | 0.1 | 0.5 | 0.7 | 91.3% |
| Canada | 0.4 | 0.6 | 1.0 | 0.5 | 7.7% |
| Italy | 1.7 | 1.9 | 0.5 | 0.5 | -33.5% |
| Poland | 0.5 | 0.7 | 0.3 | 0.3 | -15.7% |
| Spain | 0.8 | 1.0 | 0.4 | 0.3 | -27.9% |
| Pakistan | N/A | N/A | N/A | 0.1 | 0% |
| Norway | 5.5 | 5.0 | 0.7 | N/A | -64.3% |
| Others | 6.6 | 8.2 | 6.4 | 4.9 | -9.5% |
| Total | 35.7 | 43.5 | 34.7 | 27.4 | -8.4% |
Top Export Markets for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices from the UK in 2022:
- United States (1170.0 tons)
- Netherlands (951.6 tons)
- Ireland (689.3 tons)
- Germany (233.8 tons)
- France (212.8 tons)
- United Arab Emirates (210.8 tons)
- Thailand (156.4 tons)
- Poland (153.0 tons)
- Italy (102.0 tons)
- Pakistan (86.7 tons)
- Canada (82.3 tons)
- Spain (36.1 tons)
- Norway (7.1 tons)
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