Price for Spices; Ginger, Neither Crushed Nor Ground in Nigeria - 2022
Contents:
- Price for Spices; Ginger, Neither Crushed Nor Ground in Nigeria (FOB) - 2022
- Price for Spices; Ginger, Neither Crushed Nor Ground in Nigeria (CIF) - 2022
- Exports of Spices; Ginger, Neither Crushed Nor Ground in Nigeria
- Imports of Spices; Ginger, Neither Crushed Nor Ground in Nigeria
Price for Spices; Ginger, Neither Crushed Nor Ground in Nigeria (FOB) - 2022
The average export price for spices; ginger, neither crushed nor ground stood at $897 per ton in 2022, falling by -30.8% against the previous year. Over the period under review, the export price saw a abrupt decline. The pace of growth appeared the most rapid in 2020 an increase of 64%. Over the period under review, the average export prices attained the peak figure at $2,136 per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($2,260 per ton), while the average price for exports to Sudan ($350 per ton) was amongst the lowest.
From 2015 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Africa (-1.2%), while the prices for the other major destinations experienced a decline.
Price for Spices; Ginger, Neither Crushed Nor Ground in Nigeria (CIF) - 2022
The average import price for spices; ginger, neither crushed nor ground stood at $1,261 per ton in 2022, growing by 83% against the previous year. Over the period under review, the import price, however, continues to indicate a deep slump. The pace of growth was the most pronounced in 2020 an increase of 309% against the previous year. As a result, import price reached the peak level of $6,562 per ton. From 2021 to 2022, the average import prices remained at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($4,051 per ton), while the price for China ($445 per ton) was amongst the lowest.
From 2015 to 2022, the most notable rate of growth in terms of prices was attained by India (+10.3%), while the prices for the other major suppliers experienced a decline.
Exports of Spices; Ginger, Neither Crushed Nor Ground in Nigeria
For the fourth consecutive year, Nigeria recorded growth in shipments abroad of spices; ginger, neither crushed nor ground, which increased by 269% to 32K tons in 2022. Overall, exports saw significant growth. 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 $29M in 2022. Over the period under review, exports continue to indicate a significant increase. The growth pace was the most rapid in 2020 when exports increased by 422% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in years to come.
| Export of Spices; Ginger, Neither Crushed Nor Ground in Nigeria (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Sudan | N/A | N/A | N/A | 6.0 | 0% |
| United Arab Emirates | 0.2 | 1.8 | 1.3 | 5.4 | 200.0% |
| India | 0.5 | 1.7 | 1.2 | 3.7 | 94.9% |
| Germany | 0.1 | 0.5 | 1.1 | 2.9 | 207.2% |
| Vietnam | 0.1 | 0.3 | 0.5 | 2.7 | 200.0% |
| Netherlands | 0.1 | 0.1 | 0.2 | 1.9 | 166.8% |
| South Africa | N/A | 0.5 | 0.3 | 1.2 | 54.9% |
| United States | 0.1 | 0.6 | 0.6 | 0.9 | 108.0% |
| Others | 0.6 | 3.6 | 6.0 | 4.0 | 88.2% |
| Total | 1.7 | 9.0 | 11.2 | 28.6 | 156.2% |
Top Export Markets for Spices; Ginger, Neither Crushed Nor Ground from Nigeria in 2022:
- Sudan (17.1K tons)
- United Arab Emirates (3.7K tons)
- India (2.2K tons)
- Netherlands (2.1K tons)
- Vietnam (1.4K tons)
- Germany (1.3K tons)
- South Africa (0.7K tons)
- United States (0.5K tons)
Imports of Spices; Ginger, Neither Crushed Nor Ground in Nigeria
Imports of spices; ginger, neither crushed nor ground into Nigeria soared to 349 tons in 2022, with an increase of 1,104% against 2021. Overall, imports showed a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, imports of spices; ginger, neither crushed nor ground soared to $440K in 2022. Over the period under review, imports saw significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Spices; Ginger, Neither Crushed Nor Ground in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | N/A | N/A | N/A | 239 | 0% |
| South Africa | N/A | N/A | N/A | 117 | 0% |
| India | 13.4 | N/A | 0.3 | 80.6 | 81.9% |
| China | 12.2 | 0.4 | 0.3 | 0.8 | -59.7% |
| United Arab Emirates | 24.7 | 88.3 | 19.1 | N/A | -12.1% |
| Others | 20.2 | 44.7 | 0.1 | 2.3 | -51.5% |
| Total | 70.5 | 133 | 19.9 | 440 | 84.1% |
Top Suppliers of Spices; Ginger, Neither Crushed Nor Ground to Nigeria in 2022:
- Netherlands (217.9 tons)
- South Africa (107.3 tons)
- India (19.9 tons)
- China (1.8 tons)
8581
This report provides an in-depth analysis of the ginger market in Nigeria.
109
This report provides an in-depth analysis of the market for spices except pepper or ginger in Nigeria.
1663
This report provides an in-depth analysis of the market for dog and cat food in Nigeria.
2095
This report provides an in-depth analysis of the apricot market in Nigeria.
2498
This report provides an in-depth analysis of the virgin olive oil market in Nigeria.
1436
This report provides an in-depth analysis of the paint and varnish market in Nigeria.
345
This report provides an in-depth analysis of the olive oil market in Nigeria.
404
This report provides an in-depth analysis of the encased lead pencil market in Nigeria.
325
This report provides an in-depth analysis of the assembled clock movements market in Nigeria.
420
This report provides an in-depth analysis of the diphosphorus pentaoxide market in Nigeria.
1463
The global ginger market is forecast to reach USD 10.3 billion by 2030, growing at a CAGR of 4.7% during the forecast period (2022-2030).
1171
In the wake of the pandemic, the ginger market has accelerated its growth as demand for foods with a reputation for immunity system health has soared to unprecedented heights. India, which almost tripled its export of ginger in 2020, may become a serious competitor to the main global supplier - China. The majority of the developed countries have increased the volume of imports, which, in the context of Covid restrictions and a shortage of container traffic, has led to an increase in prices for the product.
837
The global ginger market revenue amounted to $5.3B in 2018, jumping by 2.8% against the previous year. This figure...
8108
Global ginger consumption amounted to X thousand tons in 2015, picking up by +X% against the previous year level.
8732
Global ginger imports amounted to X thousand tons in 2015, picking up by +X% against the previous year level.
1429
The global ginger market recorded a positive trend over the period under review, growing from X thousand tons in 2007 to X thousand tons in 2015 with a CAGR +X>
8045
The value of total imports on the global ginger market in 2015 stood at X million USD. There was an annual increase of +X% for the period from 2007 to 2015. In physical terms, imports of ginger was X thousand tons i
12258
In 2015, the leading ginger consuming markets were India (X%), Indonesia (X%), Nepal (X%), Nigeria (X%), and China (X%), together accounting for approximately X% of global consumption. These countries were also amongst the leading producers on the g
1735
From 2007 to 2015, global exports on the ginger market grew by +X% per year, amounting to X million USD in 2015. In physical terms, exports were X thousand tons in 2015, X thousand tons more than the year before.
3529
The global ginger production was estimated at X thousand tons in 2015, which was X thousand tons (or X%) more than in 2014.
