Spices; Turmeric (Curcuma) Price in Ecuador - 2022
Contents:
- Spices; Turmeric (Curcuma) Price in Ecuador (CIF) - 2022
- Spices; Turmeric (Curcuma) Price in Ecuador (FOB) - 2022
- Spices; Turmeric (Curcuma) Imports in Ecuador
- Spices; Turmeric (Curcuma) Exports in Ecuador
Spices; Turmeric (Curcuma) Price in Ecuador (CIF) - 2022
The average spices; turmeric (curcuma) import price stood at $2,037 per ton in 2021, dropping by -26.7% against the previous year. In general, the import price continues to indicate a abrupt slump. The pace of growth appeared the most rapid in 2017 when the average import price increased by 16%. The import price peaked at $3,258 per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Guatemala ($3,175 per ton), while the price for Peru ($1,544 per ton) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Guatemala (+1.6%), while the prices for the other major suppliers experienced a decline.
Spices; Turmeric (Curcuma) Price in Ecuador (FOB) - 2022
The average spices; turmeric (curcuma) export price stood at $2,915 per ton in 2021, jumping by 89% against the previous year. Over the period under review, the export price, however, saw a perceptible reduction. The pace of growth appeared the most rapid in 2019 an increase of 129%. The export price peaked at $5,545 per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.
As there is only one major export destination, the average price level is determined by prices for Panama.
From 2012 to 2021, the rate of growth in terms of prices for the Netherlands amounted to +19.2% per year.
Spices; Turmeric (Curcuma) Imports in Ecuador
For the fourth year in a row, Ecuador recorded growth in supplies from abroad of spices; turmeric (curcuma), which increased by 1.7% to 150 tons in 2022. Over the period under review, imports saw a significant increase. The pace of growth was the most pronounced in 2020 with an increase of 89% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.
In value terms, spices; turmeric (curcuma) imports expanded slightly to $311K in 2022. Overall, total imports indicated a significant increase from 2019 to 2022: its value increased at an average annual rate of +22.7% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -3.1% against 2020 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 91%. As a result, imports reached the peak of $320K. From 2021 to 2022, the growth of imports remained at a lower figure.
| Import of Spices; Turmeric (Curcuma) in Ecuador (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | CAGR, 2019-2021 | |
| India | 51.6 | 75.6 | 159 | 75.5% | |
| Guatemala | 39.3 | 24.8 | 74.6 | 37.8% | |
| Peru | 5.4 | 27.8 | 67.1 | 252.5% | |
| Germany | 67.7 | 107 | N/A | 58.1% | |
| Madagascar | N/A | 81.3 | N/A | 0% | |
| Others | 4.1 | 3.6 | N/A | -12.2% | |
| Total | 168 | 320 | 301 | 33.9% | |
Top Suppliers of Spices; Turmeric (Curcuma) to Ecuador in 2022:
- India (80.8 tons)
- Peru (43.4 tons)
- Guatemala (23.5 tons)
Spices; Turmeric (Curcuma) Exports in Ecuador
After two years of decline, overseas shipments of spices; turmeric (curcuma) increased by 94% to 365 kg in 2022. Over the period under review, exports, however, recorded a sharp setback.
In value terms, spices; turmeric (curcuma) exports skyrocketed to $692 in 2022. In general, exports, however, saw a dramatic decrease.
| Export of Spices; Turmeric (Curcuma) in Ecuador (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | CAGR, 2019-2021 | |
| Poland | N/A | 1.3 | N/A | 0% | |
| United States | 5.7 | N/A | N/A | 0% | |
| France | 0.2 | 0.3 | N/A | 50.0% | |
| Panama | N/A | N/A | N/A | 0% | |
| Netherlands | N/A | 1.5 | N/A | 0% | |
| Others | 0.1 | -2.2 | 0.5 | 123.6% | |
| Total | 6.0 | 0.8 | 0.5 | -71.1% | |
Top Export Markets for Spices; Turmeric (Curcuma) from Ecuador in 2022:
- Panama (10.0 kg)
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