Price for Spices; Ginger, Neither Crushed Nor Ground in Bangladesh - 2022
Contents:
- Price for Spices; Ginger, Neither Crushed Nor Ground in Bangladesh (CIF) - 2022
- Price for Spices; Ginger, Neither Crushed Nor Ground in Bangladesh (FOB) - 2022
- Imports of Spices; Ginger, Neither Crushed Nor Ground in Bangladesh
- Exports of Spices; Ginger, Neither Crushed Nor Ground in Bangladesh
Price for Spices; Ginger, Neither Crushed Nor Ground in Bangladesh (CIF) - 2022
The average import price for spices; ginger, neither crushed nor ground stood at $397 per ton in 2022, declining by -2.6% against the previous year. In general, the import price recorded a abrupt slump. The most prominent rate of growth was recorded in 2019 when the average import price increased by 28% against the previous year. The import price peaked at $836 per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat 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 Myanmar ($1,463 per ton), while the price for India ($331 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Myanmar (+14.5%), while the prices for the other major suppliers experienced a decline.
Price for Spices; Ginger, Neither Crushed Nor Ground in Bangladesh (FOB) - 2022
In 2022, the average export price for spices; ginger, neither crushed nor ground amounted to $2,565 per ton, dropping by -17% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average export price increased by 91%. As a result, the export price attained the peak level of $5,686 per ton. From 2019 to 2022, the average export prices failed to regain momentum.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Malaysia ($3,634 per ton), while the average price for exports to the United Arab Emirates ($689 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 Bahrain (+75.7%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Spices; Ginger, Neither Crushed Nor Ground in Bangladesh
In 2022, after three years of growth, there was significant decline in overseas purchases of spices; ginger, neither crushed nor ground, when their volume decreased by -35.8% to 102K tons. In general, imports saw a slight slump. The most prominent rate of growth was recorded in 2021 when imports increased by 24%. As a result, imports reached the peak of 159K tons, and then fell sharply in the following year.
In value terms, imports of spices; ginger, neither crushed nor ground reduced notably to $41M in 2022. Over the period under review, imports showed a deep slump. The pace of growth was the most pronounced in 2020 when imports increased by 9.2%. As a result, imports attained the peak of $83M. From 2021 to 2022, the growth of imports of remained at a lower figure.
| Import of Spices; Ginger, Neither Crushed Nor Ground in Bangladesh (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 12.9 | 42.1 | 43.5 | 18.3 | 12.4% |
| China | 53.0 | 34.2 | 19.2 | 17.0 | -31.5% |
| Myanmar | 1.1 | 2.2 | 0.9 | 3.0 | 39.7% |
| Indonesia | 2.1 | 1.2 | 0.6 | 1.2 | -17.0% |
| Thailand | 6.2 | 2.9 | 0.1 | 0.2 | -68.2% |
| Others | 0.9 | 0.5 | 0.7 | 0.9 | 0.0% |
| Total | 76.2 | 83.2 | 65.0 | 40.6 | -18.9% |
Top Suppliers of Spices; Ginger, Neither Crushed Nor Ground to Bangladesh in 2022:
- India (55.2K tons)
- China (40.9K tons)
- Indonesia (2.1K tons)
- Myanmar (2.0K tons)
- Thailand (0.5K tons)
Exports of Spices; Ginger, Neither Crushed Nor Ground in Bangladesh
In 2022, exports of spices; ginger, neither crushed nor ground from Bangladesh surged to 11 tons, rising by 394% compared with 2021. Overall, exports posted a strong increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, exports of spices; ginger, neither crushed nor ground soared to $28K in 2022. In general, exports enjoyed a prominent increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Spices; Ginger, Neither Crushed Nor Ground in Bangladesh (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Kingdom | 11.4 | 2.8 | 5.9 | 18.0 | 16.4% |
| India | N/A | N/A | N/A | 8.8 | 0% |
| Bahrain | N/A | N/A | 0.1 | 0.5 | 400.0% |
| United Arab Emirates | 0.4 | 0.1 | 0.2 | 0.4 | 0.0% |
| South Africa | 2.9 | N/A | N/A | N/A | 0% |
| Singapore | 3.8 | N/A | N/A | N/A | 0% |
| Saudi Arabia | N/A | N/A | 0.2 | N/A | 0% |
| Others | 0.5 | 0.3 | 0.5 | 0.5 | 0.0% |
| Total | 18.9 | 3.2 | 6.9 | 28.2 | 14.3% |
Top Export Markets for Spices; Ginger, Neither Crushed Nor Ground from Bangladesh in 2022:
- United Kingdom (5.4 tons)
- India (4.6 tons)
- United Arab Emirates (0.6 tons)
- Bahrain (0.2 tons)
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