Price for Spices; Ginger, Crushed or Ground in Bangladesh - 2022
Contents:
- Price for Spices; Ginger, Crushed or Ground in Bangladesh (FOB) - 2022
- Price for Spices; Ginger, Crushed or Ground in Bangladesh (CIF) - 2022
- Exports of Spices; Ginger, Crushed or Ground in Bangladesh
- Imports of Spices; Ginger, Crushed or Ground in Bangladesh
Price for Spices; Ginger, Crushed or Ground in Bangladesh (FOB) - 2022
The average export price for spices; ginger, crushed or ground stood at $1,898 per ton in 2022, rising by 6% against the previous year. Over the period under review, the export price, however, recorded a pronounced decrease. The growth pace was the most rapid in 2015 an increase of 31%. Over the period under review, the average export prices attained the maximum at $2,551 per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Lebanon ($8,961 per ton), while the average price for exports to Oman ($450 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 Lebanon (+15.6%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Spices; Ginger, Crushed or Ground in Bangladesh (CIF) - 2022
The average import price for spices; ginger, crushed or ground stood at $2,927 per ton in 2022, with an increase of 3.4% against the previous year. In general, the import price saw a pronounced expansion. The most prominent rate of growth was recorded in 2021 when the average import price increased by 86%. Over the period under review, average import prices hit record highs at $3,511 per ton in 2014; however, from 2015 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 China ($37,691 per ton), while the price for Myanmar stood at $2,512 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+41.2%).
Exports of Spices; Ginger, Crushed or Ground in Bangladesh
In 2022, approx. 220 tons of spices; ginger, crushed or ground were exported from Bangladesh; increasing by 482% compared with the previous year's figure. In general, exports saw a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, spices; ginger, crushed or ground exports surged to $418K in 2022. Overall, exports posted a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
Export of Spices; Ginger, Crushed or Ground in Bangladesh (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Malaysia | N/A | N/A | N/A | 153 | 0% |
Saudi Arabia | 5.0 | 2.5 | 28.9 | 41.0 | 101.7% |
Qatar | 12.1 | 9.2 | 18.9 | 26.0 | 29.0% |
South Africa | N/A | 0.1 | 1.2 | 10.6 | 929.6% |
United States | 3.3 | 3.1 | 10.5 | 6.2 | 23.4% |
Canada | 0.9 | 0.9 | 2.6 | 4.4 | 69.7% |
Oman | 0.5 | 0.6 | 1.5 | 2.2 | 63.9% |
Others | 4.3 | 2.9 | 4.1 | 174 | 243.3% |
Total | 26.2 | 19.3 | 67.8 | 418 | 151.7% |
Top Export Markets for Spices; Ginger, Crushed or Ground from Bangladesh in 2022:
- Malaysia (78.2 tons)
- Saudi Arabia (34.6 tons)
- Qatar (11.5 tons)
- Oman (4.8 tons)
- South Africa (3.1 tons)
- United States (1.9 tons)
- Canada (1.4 tons)
Imports of Spices; Ginger, Crushed or Ground in Bangladesh
In 2022, purchases abroad of spices; ginger, crushed or ground decreased by -70% to 74 tons, falling for the second consecutive year after two years of growth. In general, imports showed a significant curtailment. The most prominent rate of growth was recorded in 2020 when imports increased by 48%. As a result, imports attained the peak of 1.1K tons. From 2021 to 2022, the growth of imports remained at a lower figure.
In value terms, spices; ginger, crushed or ground imports reduced dramatically to $218K in 2022. Over the period under review, imports recorded a sharp curtailment. The pace of growth appeared the most rapid in 2020 with an increase of 39% against the previous year. As a result, imports reached the peak of $1.7M. From 2021 to 2022, the growth of imports remained at a lower figure.
Import of Spices; Ginger, Crushed or Ground in Bangladesh (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Myanmar | 1,221 | 1,474 | 634 | 184 | -46.8% |
Others | 21.8 | 257 | 68.9 | 33.4 | 15.3% |
Total | 1,243 | 1,731 | 703 | 218 | -44.0% |
Top Suppliers of Spices; Ginger, Crushed or Ground to Bangladesh in 2022:
- Myanmar (73.3 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.