Price for Spices; Ginger, Crushed or Ground in Kazakhstan - 2021
Contents:
- Price for Spices; Ginger, Crushed or Ground in Kazakhstan (CIF) - 2022
- Price for Spices; Ginger, Crushed or Ground in Kazakhstan (FOB) - 2022
- Imports of Spices; Ginger, Crushed or Ground in Kazakhstan
- Exports of Spices; Ginger, Crushed or Ground in Kazakhstan
Price for Spices; Ginger, Crushed or Ground in Kazakhstan (CIF) - 2022
The average import price for spices; ginger, crushed or ground stood at $3,066 per ton in 2022, increasing by 51% against the previous year. Overall, the import price, however, showed a noticeable downturn. Over the period under review, average import prices hit record highs at $6,045 per ton in 2013; however, from 2014 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 Russia ($3,706 per ton), while the price for India ($1,488 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Peru (+16.0%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Spices; Ginger, Crushed or Ground in Kazakhstan (FOB) - 2022
In 2022, the average export price for spices; ginger, crushed or ground amounted to $15,038 per ton, rising by 105% against the previous year. Over the period under review, the export price, however, continues to indicate a dramatic curtailment. The most prominent rate of growth was recorded in 2020 when the average export price increased by 445%. The export price peaked at $321,184 per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($24,846 per ton), while the average price for exports to Mongolia amounted to $5,231 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Kyrgyzstan (-6.7%).
Imports of Spices; Ginger, Crushed or Ground in Kazakhstan
After three years of growth, overseas purchases of spices; ginger, crushed or ground decreased by -46.9% to 38 tons in 2022. Overall, imports, however, showed a slight increase. The most prominent rate of growth was recorded in 2021 with an increase of 42% against the previous year. As a result, imports attained the peak of 72 tons, and then fell rapidly in the following year.
In value terms, spices; ginger, crushed or ground imports dropped rapidly to $117K in 2022. The total import value increased at an average annual rate of +2.2% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 23%. As a result, imports attained the peak of $146K, and then dropped sharply in the following year.
Import of Spices; Ginger, Crushed or Ground in Kazakhstan (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Russia | 70.3 | 72.8 | 93.2 | 91.5 | 9.2% |
Peru | 6.6 | 7.3 | 8.1 | 11.9 | 21.7% |
India | 17.6 | 23.1 | 21.6 | 11.4 | -13.5% |
Latvia | 3.2 | 4.3 | 5.8 | N/A | 34.6% |
Others | 11.8 | 11.2 | 17.1 | 2.1 | -43.8% |
Total | 109 | 119 | 146 | 117 | 2.4% |
Top Suppliers of Spices; Ginger, Crushed or Ground to Kazakhstan in 2022:
- Russia (24.7 tons)
- India (7.6 tons)
- Peru (5.0 tons)
Exports of Spices; Ginger, Crushed or Ground in Kazakhstan
In 2022, the amount of spices; ginger, crushed or ground exported from Kazakhstan soared to 52 kg, increasing by 21% against the previous year's figure. In general, exports continue to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2020 with an increase of 1,407%. As a result, the exports reached the peak of 663 kg. From 2021 to 2022, the growth of the exports failed to regain momentum.
In value terms, spices; ginger, crushed or ground exports skyrocketed to $782 in 2022. Overall, exports continue to indicate significant growth. The pace of growth appeared the most rapid in 2020 with an increase of 8,113% against the previous year. As a result, the exports reached the peak of $19K. From 2021 to 2022, the growth of the exports remained at a lower figure.
Export of Spices; Ginger, Crushed or Ground in Kazakhstan (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Russia | N/A | 17.2 | N/A | 0.6 | -81.3% |
Mongolia | N/A | N/A | N/A | 0.1 | 0% |
Kyrgyzstan | 0.2 | 2.2 | 0.3 | N/A | 22.5% |
Others | N/A | N/A | N/A | N/A | 0% |
Total | 0.2 | 19.4 | 0.3 | 0.8 | 58.7% |
Top Export Markets for Spices; Ginger, Crushed or Ground from Kazakhstan in 2022:
- Russia (26.0 kg)
- Mongolia (26.0 kg)
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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.
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