Price for Spices; Ginger, Neither Crushed Nor Ground in Iran - 2022
Contents:
- Price for Spices; Ginger, Neither Crushed Nor Ground in Iran (CIF) - 2022
- Price for Spices; Ginger, Neither Crushed Nor Ground in Iran (FOB) - 2022
- Imports of Spices; Ginger, Neither Crushed Nor Ground in Iran
- Exports of Spices; Ginger, Neither Crushed Nor Ground in Iran
Price for Spices; Ginger, Neither Crushed Nor Ground in Iran (CIF) - 2022
The average import price for spices; ginger, neither crushed nor ground stood at $1,426 per ton in 2022, with a decrease of -19.4% against the previous year. Overall, import price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 an increase of 66% against the previous year. Over the period under review, average import prices reached the peak figure at $1,968 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 the United Arab Emirates ($2,430 per ton), while the price for China ($1,212 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+15.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Spices; Ginger, Neither Crushed Nor Ground in Iran (FOB) - 2022
In 2022, the average export price for spices; ginger, neither crushed nor ground amounted to $465 per ton, shrinking by -48.1% against the previous year. In general, the export price faced a precipitous contraction. The pace of growth was the most pronounced in 2018 an increase of 63% against the previous year. The export price peaked at $17,473 per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.
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 the UK ($12,298 per ton), while the average price for exports to Kuwait ($393 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 Pakistan (+192.6%), while the prices for the other major destinations experienced a decline.
Imports of Spices; Ginger, Neither Crushed Nor Ground in Iran
In 2022, purchases abroad of spices; ginger, neither crushed nor ground decreased by -47.2% to 2.7K tons for the first time since 2018, thus ending a three-year rising trend. Overall, imports continue to indicate a noticeable setback. The pace of growth appeared the most rapid in 2020 when imports increased by 71%.
In value terms, imports of spices; ginger, neither crushed nor ground fell significantly to $3.9M in 2022. Over the period under review, imports, however, saw resilient growth. The most prominent rate of growth was recorded in 2020 with an increase of 179% against the previous year.
| Import of Spices; Ginger, Neither Crushed Nor Ground in Iran (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 2.0 | 3.9 | 3.8 | 2.2 | 3.2% |
| United Arab Emirates | 1.0 | 3.9 | 4.4 | 0.8 | -7.2% |
| India | 0.1 | 0.7 | 0.6 | 0.4 | 58.7% |
| Nigeria | 0.1 | 0.1 | 0.2 | 0.2 | 26.0% |
| Indonesia | N/A | N/A | N/A | 0.1 | 0% |
| Others | N/A | 0.1 | 0.2 | 0.2 | 41.4% |
| Total | 3.1 | 8.7 | 9.1 | 3.9 | 8.0% |
Top Suppliers of Spices; Ginger, Neither Crushed Nor Ground to Iran in 2022:
- China (1844.7 tons)
- United Arab Emirates (313.3 tons)
- India (226.3 tons)
- Nigeria (100.0 tons)
- Indonesia (90.1 tons)
Exports of Spices; Ginger, Neither Crushed Nor Ground in Iran
For the fourth year in a row, Iran recorded growth in overseas shipments of spices; ginger, neither crushed nor ground, which increased by 234% to 225 tons in 2022. Over the period under review, exports recorded significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, exports of spices; ginger, neither crushed nor ground skyrocketed to $105K in 2022. In general, exports posted significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Spices; Ginger, Neither Crushed Nor Ground in Iran (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Kuwait | 24.8 | 35.0 | 28.9 | 86.2 | 51.5% |
| Pakistan | N/A | N/A | 15.7 | 3.6 | -77.1% |
| Others | 10.1 | 11.0 | 15.8 | 15.0 | 14.1% |
| Total | 34.9 | 45.9 | 60.5 | 105 | 44.4% |
Top Export Markets for Spices; Ginger, Neither Crushed Nor Ground from Iran in 2022:
- Kuwait (219.0 tons)
- Pakistan (1.9 tons)
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