Price for Spices; Ginger, Crushed or Ground in Pakistan - 2023
Contents:
- Price for Spices; Ginger, Crushed or Ground in Pakistan (CIF) - 2022
- Price for Spices; Ginger, Crushed or Ground in Pakistan (FOB) - 2023
- Imports of Spices; Ginger, Crushed or Ground in Pakistan
- Exports of Spices; Ginger, Crushed or Ground in Pakistan
Price for Spices; Ginger, Crushed or Ground in Pakistan (CIF) - 2022
In 2022, the average import price for spices; ginger, crushed or ground amounted to $2,128 per ton, increasing by 29% against the previous year. Overall, the import price saw a remarkable increase. The most prominent rate of growth was recorded in 2014 when the average import price increased by 79%. Over the period under review, average import prices attained the peak figure at $2,915 per ton in 2019; however, from 2020 to 2022, import prices remained at a lower figure.
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 China ($5,090 per ton), while the price for Myanmar ($1,470 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+59.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Spices; Ginger, Crushed or Ground in Pakistan (FOB) - 2023
The average export price for spices; ginger, crushed or ground stood at $2,255 per ton in February 2023, which is down by -74.7% against the previous month. In general, the export price recorded a abrupt setback. The pace of growth was the most pronounced in December 2022 an increase of 100% m-o-m. As a result, the export price attained the peak level of $9,903 per ton. From January 2023 to February 2023, the the average export prices remained at a lower figure.
There were significant differences in the average prices for the major foreign markets. In February 2023, the country with the highest price was the United Arab Emirates ($3,371 per ton), while the average price for exports to Canada ($2,149 per ton) was amongst the lowest.
From February 2022 to February 2023, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (+3.1%), while the prices for the other major destinations experienced a decline.
Imports of Spices; Ginger, Crushed or Ground in Pakistan
After three years of growth, purchases abroad of spices; ginger, crushed or ground decreased by -57.5% to 129 tons in 2022. In general, imports, however, posted a significant expansion. The pace of growth appeared the most rapid in 2021 when imports increased by 512% against the previous year. As a result, imports reached the peak of 302 tons, and then dropped markedly in the following year.
In value terms, spices; ginger, crushed or ground imports shrank dramatically to $274K in 2022. Overall, imports, however, continue to indicate a significant increase. The pace of growth appeared the most rapid in 2021 when imports increased by 956% against the previous year. As a result, imports reached the peak of $500K, and then contracted markedly in the following year.
| Import of Spices; Ginger, Crushed or Ground in Pakistan (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Nigeria | 12.7 | 15.9 | 303 | 174 | 139.3% |
| Myanmar | 4.9 | 17.4 | 159 | 90.7 | 164.5% |
| Montenegro | N/A | N/A | 23.1 | N/A | 0% |
| Iran | N/A | 10.5 | N/A | N/A | 0% |
| Others | 14.3 | 3.5 | 15.1 | 9.5 | -12.7% |
| Total | 31.9 | 47.4 | 500 | 274 | 104.8% |
Top Suppliers of Spices; Ginger, Crushed or Ground to Pakistan in 2022:
- Nigeria (64.8 tons)
- Myanmar (61.7 tons)
Exports of Spices; Ginger, Crushed or Ground in Pakistan
In 2022, after two years of decline, there was significant growth in shipments abroad of spices; ginger, crushed or ground, when their volume increased by 82% to 83 tons. In general, exports, however, continue to indicate a dramatic decline.
In value terms, spices; ginger, crushed or ground exports soared to $357K in 2022. Over the period under review, exports, however, faced a dramatic decrease.
| Export of Spices; Ginger, Crushed or Ground in Pakistan (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Saudi Arabia | 156 | 140 | 50.5 | 105 | -12.4% |
| Canada | 44.5 | 25.3 | 5.5 | 90.7 | 26.8% |
| Mauritius | 29.6 | 27.9 | 17.4 | 41.8 | 12.2% |
| Denmark | 10.9 | 12.9 | 10.1 | 15.8 | 13.2% |
| United Arab Emirates | 19.6 | 2.8 | 8.7 | 11.3 | -16.8% |
| United States | 371 | 316 | 35.6 | 7.4 | -72.9% |
| Qatar | 16.1 | 7.3 | 1.5 | 7.2 | -23.5% |
| Australia | 16.0 | 8.2 | 5.4 | 7.1 | -23.7% |
| Ireland | 10.5 | 8.0 | 4.0 | 3.1 | -33.4% |
| United Kingdom | 12.9 | 37.6 | 2.0 | 2.5 | -42.1% |
| Nigeria | 1.1 | 2.4 | 0.1 | 1.1 | 0.0% |
| Others | 58.3 | 80.3 | 58.1 | 63.4 | 2.8% |
| Total | 746 | 669 | 199 | 357 | -21.8% |
Top Export Markets for Spices; Ginger, Crushed or Ground from Pakistan in 2022:
- Canada (26.0 tons)
- Saudi Arabia (19.4 tons)
- Mauritius (10.6 tons)
- Denmark (3.7 tons)
- Nigeria (2.6 tons)
- United Arab Emirates (2.2 tons)
- Qatar (1.8 tons)
- Australia (1.6 tons)
- United States (1.1 tons)
- Ireland (1.0 tons)
- United Kingdom (0.6 tons)
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