Price for Spices; Ginger, Crushed or Ground in Bulgaria - 2023
Contents:
- Price for Spices; Ginger, Crushed or Ground in Bulgaria (CIF) - 2022
- Price for Spices; Ginger, Crushed or Ground in Bulgaria (FOB) - 2022
- Imports of Spices; Ginger, Crushed or Ground in Bulgaria
- Exports of Spices; Ginger, Crushed or Ground in Bulgaria
Price for Spices; Ginger, Crushed or Ground in Bulgaria (CIF) - 2022
The average import price for spices; ginger, crushed or ground stood at $4,477 per ton in 2022, approximately mirroring the previous year. Over the period under review, import price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, spices; ginger, crushed or ground import price increased by +72.4% against 2018 indices. The pace of growth was the most pronounced in 2020 when the average import price increased by 44%. Over the period under review, average import prices hit record highs at $4,507 per ton in 2021, and then declined 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 Austria ($17,714 per ton), while the price for India ($2,639 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+15.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Spices; Ginger, Crushed or Ground in Bulgaria (FOB) - 2022
The average export price for spices; ginger, crushed or ground stood at $5,670 per ton in 2022, jumping by 70% against the previous year. Overall, the export price saw a relatively flat trend pattern. Over the period under review, the average export prices reached the peak figure at $8,873 per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Lithuania ($26,131 per ton), while the average price for exports to Greece ($3,736 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 Germany (+15.6%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Spices; Ginger, Crushed or Ground in Bulgaria
After three years of growth, supplies from abroad of spices; ginger, crushed or ground decreased by -3.9% to 39 tons in 2022. In general, total imports indicated strong growth from 2019 to 2022: its volume increased at an average annual rate of +17.5% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +62.3% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 41% against the previous year. As a result, imports reached the peak of 40 tons, and then dropped modestly in the following year.
In value terms, spices; ginger, crushed or ground imports declined slightly to $174K in 2022. Over the period under review, imports, however, enjoyed significant growth. The pace of growth was the most pronounced in 2020 when imports increased by 72% against the previous year.
| Import of Spices; Ginger, Crushed or Ground in Bulgaria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Austria | 11.1 | 19.4 | 53.2 | 37.2 | 49.6% |
| Tanzania | N/A | N/A | 13.5 | 33.1 | 145.2% |
| Germany | 9.6 | 20.6 | 20.1 | 27.4 | 41.8% |
| India | N/A | N/A | 13.3 | 25.1 | 88.7% |
| Netherlands | 5.8 | 38.9 | 28.7 | 16.5 | 41.7% |
| Latvia | N/A | 6.2 | 23.7 | 10.9 | 32.6% |
| Greece | 0.7 | 9.9 | 0.3 | 8.8 | 132.5% |
| Spain | 5.2 | 0.8 | 14.8 | 6.5 | 7.7% |
| China | 21.3 | 11.0 | 6.5 | 5.7 | -35.6% |
| Poland | 3.1 | 5.8 | N/A | N/A | 87.1% |
| Others | 14.5 | 10.2 | 7.7 | 2.5 | -44.3% |
| Total | 71.4 | 123 | 182 | 174 | 34.6% |
Top Suppliers of Spices; Ginger, Crushed or Ground to Bulgaria in 2022:
- India (9.5 tons)
- Tanzania (6.2 tons)
- Netherlands (5.9 tons)
- Germany (4.2 tons)
- Latvia (4.0 tons)
- Greece (3.0 tons)
- Austria (2.1 tons)
- Spain (1.9 tons)
- China (1.8 tons)
Exports of Spices; Ginger, Crushed or Ground in Bulgaria
After three years of growth, shipments abroad of spices; ginger, crushed or ground decreased by -14.3% to 17 tons in 2022. Overall, exports, however, posted significant growth. The pace of growth appeared the most rapid in 2021 when exports increased by 95% against the previous year. As a result, the exports attained the peak of 20 tons, and then reduced in the following year.
In value terms, spices; ginger, crushed or ground exports skyrocketed to $98K in 2022. Over the period under review, exports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 134% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.
| Export of Spices; Ginger, Crushed or Ground in Bulgaria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Romania | 0.2 | 8.8 | 17.3 | 22.1 | 379.9% |
| Germany | 1.6 | 12.1 | 15.2 | 18.5 | 126.1% |
| North Macedonia | 14.1 | 15.1 | 18.7 | 17.5 | 7.5% |
| Greece | 2.2 | 2.9 | 2.6 | 15.0 | 89.6% |
| Croatia | 0.6 | 0.8 | 3.0 | 4.7 | 98.6% |
| Slovakia | 0.5 | 1.7 | 1.6 | 4.4 | 106.5% |
| United Kingdom | N/A | N/A | N/A | 2.1 | 0% |
| Others | 1.3 | 7.0 | 9.4 | 14.0 | 120.8% |
| Total | 20.7 | 48.4 | 67.7 | 98.4 | 68.1% |
Top Export Markets for Spices; Ginger, Crushed or Ground from Bulgaria in 2022:
- North Macedonia (4.0 tons)
- Greece (4.0 tons)
- Romania (3.6 tons)
- Germany (2.6 tons)
- Slovakia (0.6 tons)
- Croatia (0.6 tons)
- United Kingdom (0.4 tons)
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