Spices; Turmeric (Curcuma) Price in Bangladesh - 2022
Contents:
- Spices; Turmeric (Curcuma) Price in Bangladesh (CIF) - 2022
- Spices; Turmeric (Curcuma) Price in Bangladesh (FOB) - 2022
- Spices; Turmeric (Curcuma) Imports in Bangladesh
- Spices; Turmeric (Curcuma) Exports in Bangladesh
Spices; Turmeric (Curcuma) Price in Bangladesh (CIF) - 2022
In 2022, the average spices; turmeric (curcuma) import price amounted to $991 per ton, waning by -3.2% against the previous year. Overall, the import price saw a deep slump. The pace of growth appeared the most rapid in 2021 an increase of 21%. The import price peaked at $1,704 per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($998 per ton), while the price for Ethiopia ($592 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ethiopia (-3.5%), while the prices for the other major suppliers experienced a decline.
Spices; Turmeric (Curcuma) Price in Bangladesh (FOB) - 2022
In 2022, the average spices; turmeric (curcuma) export price amounted to $3,071 per ton, picking up by 16% against the previous year. Over the period under review, export price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, spices; turmeric (curcuma) export price increased by +73.5% against 2013 indices. The growth pace was the most rapid in 2016 when the average export price increased by 24%. The export price peaked in 2022 and is expected to retain growth in years to come.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Australia ($4,218 per ton), while the average price for exports to Qatar ($1,041 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 Malaysia (+14.9%), while the prices for the other major destinations experienced more modest paces of growth.
Spices; Turmeric (Curcuma) Imports in Bangladesh
In 2022, approx. 29K tons of spices; turmeric (curcuma) were imported into Bangladesh; surging by 2.4% on the year before. Over the period under review, imports showed a significant expansion. The growth pace was the most rapid in 2020 with an increase of 227%. As a result, imports attained the peak of 51K tons. From 2021 to 2022, the growth of imports failed to regain momentum.
In value terms, spices; turmeric (curcuma) imports dropped to $29M in 2022. Overall, imports recorded a significant increase. The pace of growth appeared the most rapid in 2020 with an increase of 200%. As a result, imports reached the peak of $43M. From 2021 to 2022, the growth of imports failed to regain momentum.
| Import of Spices; Turmeric (Curcuma) in Bangladesh (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 13.7 | 42.6 | 28.9 | 28.2 | 27.2% |
| Myanmar | 0.8 | 0.8 | 0.2 | 0.3 | -27.9% |
| Others | N/A | 0.1 | 0.3 | 0.5 | 123.6% |
| Total | 14.5 | 43.5 | 29.3 | 29.0 | 26.0% |
Top Suppliers of Spices; Turmeric (Curcuma) to Bangladesh in 2022:
- India (28.2K tons)
- Myanmar (0.5K tons)
Spices; Turmeric (Curcuma) Exports in Bangladesh
In 2022, shipments abroad of spices; turmeric (curcuma) decreased by -20.8% to 1.3K tons, falling for the second consecutive year after two years of growth. Over the period under review, exports saw a deep setback. The pace of growth appeared the most rapid in 2020 with an increase of 3.5%. As a result, the exports reached the peak of 1.9K tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
In value terms, spices; turmeric (curcuma) exports fell to $3.9M in 2022. In general, exports continue to indicate a abrupt curtailment. The smallest decline of -3.4% was in 2020.
| Export of Spices; Turmeric (Curcuma) in Bangladesh (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Malaysia | 1,314 | 1,140 | 929 | 1,157 | -4.2% |
| Kuwait | 92.6 | 147 | 72.5 | 466 | 71.4% |
| Singapore | 128 | 120 | 84.6 | 171 | 10.1% |
| Qatar | 352 | 278 | 210 | 138 | -26.8% |
| Maldives | 249 | N/A | 94.0 | 125 | -20.5% |
| Jordan | 26.5 | 7.4 | 12.8 | 49.5 | 23.2% |
| Bahrain | 100 | 133 | 43.7 | 44.9 | -23.4% |
| Saudi Arabia | 2,103 | 2,202 | 1,517 | N/A | -15.1% |
| Others | 425 | 602 | 1,314 | 1,774 | 61.0% |
| Total | 4,790 | 4,629 | 4,277 | 3,924 | -6.4% |
Top Export Markets for Spices; Turmeric (Curcuma) from Bangladesh in 2022:
- Malaysia (282.3 tons)
- Kuwait (195.4 tons)
- Qatar (132.4 tons)
- Singapore (83.2 tons)
- Maldives (46.1 tons)
- Bahrain (22.5 tons)
- Jordan (20.8 tons)
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