Price for Spices; Ginger, Neither Crushed Nor Ground in Myanmar - 2022
Contents:
- Price for Spices; Ginger, Neither Crushed Nor Ground in Myanmar (FOB) - 2022
- Price for Spices; Ginger, Neither Crushed Nor Ground in Myanmar (CIF) - 2022
- Exports of Spices; Ginger, Neither Crushed Nor Ground in Myanmar
- Imports of Spices; Ginger, Neither Crushed Nor Ground in Myanmar
Price for Spices; Ginger, Neither Crushed Nor Ground in Myanmar (FOB) - 2022
The average export price for spices; ginger, neither crushed nor ground stood at $1,894 per ton in December 2022, growing by 81% against the previous month. Overall, the export price continues to indicate buoyant growth. The most prominent rate of growth was recorded in February 2022 an increase of 110% month-to-month. The export price peaked in December 2022.
There were significant differences in the average prices for the major foreign markets. In December 2022, the country with the highest price was Bangladesh ($2,493 per ton), while the average price for exports to Thailand ($800 per ton) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+12.1%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Spices; Ginger, Neither Crushed Nor Ground in Myanmar (CIF) - 2022
In 2022, the average import price for spices; ginger, neither crushed nor ground amounted to $902 per ton, dropping by -2% against the previous year. In general, the import price showed a pronounced descent. The most prominent rate of growth was recorded in 2018 when the average import price increased by 69%. As a result, import price reached the peak level of $2,054 per ton. From 2019 to 2022, the average import prices failed to regain momentum.
As there is only one major supplying country, the average price level is determined by prices for Thailand.
From 2012 to 2022, the rate of growth in terms of prices for Thailand amounted to -4.8% per year.
Exports of Spices; Ginger, Neither Crushed Nor Ground in Myanmar
In 2022, shipments abroad of spices; ginger, neither crushed nor ground increased by 1.7% to 4.1K tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, continue to indicate a sharp decline.
In value terms, exports of spices; ginger, neither crushed nor ground soared to $4.4M in 2022. Overall, exports, however, saw a abrupt curtailment.
| Export of Spices; Ginger, Neither Crushed Nor Ground in Myanmar (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Bangladesh | 2,014 | 2,667 | 842 | 2,722 | 10.6% |
| China | 970 | 1,328 | 1,254 | 1,003 | 1.1% |
| Thailand | 86.8 | 57.0 | 53.8 | 471 | 75.7% |
| India | 704 | 720 | 69.5 | 185 | -35.9% |
| Morocco | 1,756 | 676 | 522 | N/A | -45.5% |
| Indonesia | 172 | 68.8 | 31.0 | N/A | -57.5% |
| Pakistan | 71.3 | 226 | 40.2 | N/A | -24.9% |
| Others | 665 | 419 | 561 | 10.1 | -75.2% |
| Total | 6,440 | 6,162 | 3,374 | 4,391 | -12.0% |
Top Export Markets for Spices; Ginger, Neither Crushed Nor Ground from Myanmar in 2022:
- Bangladesh (1961.3 tons)
- China (1745.6 tons)
- Thailand (251.5 tons)
- India (108.1 tons)
Imports of Spices; Ginger, Neither Crushed Nor Ground in Myanmar
In 2022, the amount of spices; ginger, neither crushed nor ground imported into Myanmar skyrocketed to 42 tons, increasing by 102% against 2021. In general, imports enjoyed a significant increase. The pace of growth appeared the most rapid in 2021 when imports increased by 10,593% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in years to come.
In value terms, imports of spices; ginger, neither crushed nor ground surged to $38K in 2022. Over the period under review, imports saw significant growth. The growth pace was the most rapid in 2021 when imports increased by 6,839%. Imports peaked in 2022 and are expected to retain growth in years to come.
| Import of Spices; Ginger, Neither Crushed Nor Ground in Myanmar (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Thailand | 7.6 | 0.1 | 18.3 | 37.4 | 70.1% |
| Others | 1.6 | 0.2 | 0.8 | 0.5 | -32.1% |
| Total | 9.2 | 0.3 | 19.1 | 37.9 | 60.3% |
Top Suppliers of Spices; Ginger, Neither Crushed Nor Ground to Myanmar in 2022:
- Thailand (41.7 tons)
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