Price for Spices; Ginger, Neither Crushed Nor Ground in Japan - 2023
Contents:
- Price for Spices; Ginger, Neither Crushed Nor Ground in Japan (CIF) - 2023
- Price for Spices; Ginger, Neither Crushed Nor Ground in Japan (FOB) - 2022
- Imports of Spices; Ginger, Neither Crushed Nor Ground in Japan
- Exports of Spices; Ginger, Neither Crushed Nor Ground in Japan
Price for Spices; Ginger, Neither Crushed Nor Ground in Japan (CIF) - 2023
In November 2023, the average import price for spices; ginger, neither crushed nor ground amounted to $1,935 per ton, which is down by -2.7% against the previous month. Over the period from November 2022 to November 2023, it increased at an average monthly rate of +1.3%. The growth pace was the most rapid in July 2023 an increase of 31% against the previous month. As a result, import price reached the peak level of $2,502 per ton. From August 2023 to November 2023, the average import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In November 2023, the country with the highest price was Taiwan (Chinese) ($3,705 per ton), while the price for Thailand ($1,403 per ton) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by China (+1.7%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Spices; Ginger, Neither Crushed Nor Ground in Japan (FOB) - 2022
In 2022, the average export price for spices; ginger, neither crushed nor ground amounted to $2,905 per ton, which is down by -68.6% against the previous year. Over the period under review, the export price recorded a abrupt decline. The growth pace was the most rapid in 2016 when the average export price increased by 144% against the previous year. Over the period under review, the average export prices hit record highs at $21,300 per ton in 2012; however, from 2013 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 South Africa ($10,428 per ton), while the average price for exports to Norway ($2,105 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 Vietnam (+59.5%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Spices; Ginger, Neither Crushed Nor Ground in Japan
After two years of decline, supplies from abroad of spices; ginger, neither crushed nor ground increased by 14% to 55K tons in 2022. In general, imports, however, continue to indicate a pronounced curtailment.
In value terms, imports of spices; ginger, neither crushed nor ground dropped to $90M in 2022. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 13% against the previous year. As a result, imports attained the peak of $102M, and then shrank in the following year.
| Import of Spices; Ginger, Neither Crushed Nor Ground in Japan (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 63.2 | 65.6 | 75.2 | 63.5 | 0.2% |
| Thailand | 15.2 | 15.2 | 15.2 | 18.2 | 6.2% |
| Taiwan (Chinese) | 7.2 | 7.7 | 6.0 | 5.6 | -8.0% |
| Others | 3.9 | 1.6 | 5.2 | 3.1 | -7.4% |
| Total | 89.5 | 90.1 | 102 | 90.4 | 0.3% |
Top Suppliers of Spices; Ginger, Neither Crushed Nor Ground to Japan in 2022:
- China (40.4K tons)
- Thailand (12.1K tons)
- Taiwan (Chinese) (1.7K tons)
Exports of Spices; Ginger, Neither Crushed Nor Ground in Japan
In 2022, the amount of spices; ginger, neither crushed nor ground exported from Japan surged to 9.7 tons, jumping by 176% compared with the year before. Over the period under review, exports posted a significant expansion. 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 contracted to $28K in 2022. The total export value increased at an average annual rate of +5.6% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 27% against the previous year.
| Export of Spices; Ginger, Neither Crushed Nor Ground in Japan (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Norway | N/A | N/A | N/A | 13.5 | 0% |
| Saudi Arabia | N/A | 14.4 | N/A | 6.8 | -31.3% |
| South Africa | N/A | N/A | N/A | 3.3 | 0% |
| United Kingdom | N/A | N/A | N/A | 2.7 | 0% |
| Hong Kong SAR | N/A | N/A | 1.5 | 1.9 | 26.7% |
| Sweden | 2.1 | 4.7 | 4.6 | N/A | 48.0% |
| United Arab Emirates | 12.6 | 9.7 | 10.1 | N/A | -10.5% |
| Singapore | 4.6 | N/A | N/A | N/A | 0% |
| United States | N/A | N/A | 10.9 | N/A | 0% |
| Others | 4.6 | 1.6 | 5.5 | N/A | 9.3% |
| Total | 24.0 | 30.3 | 32.6 | 28.2 | 5.5% |
Top Export Markets for Spices; Ginger, Neither Crushed Nor Ground from Japan in 2022:
- Norway (6.4 tons)
- Saudi Arabia (2.0 tons)
- United Kingdom (0.8 tons)
- South Africa (0.3 tons)
- Hong Kong SAR (0.2 tons)
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