Spices; Turmeric (Curcuma) Price in Hungary - 2023
Contents:
- Spices; Turmeric (Curcuma) Price in Hungary (CIF) - 2022
- Spices; Turmeric (Curcuma) Price in Hungary (FOB) - 2022
- Spices; Turmeric (Curcuma) Imports in Hungary
- Spices; Turmeric (Curcuma) Exports in Hungary
Spices; Turmeric (Curcuma) Price in Hungary (CIF) - 2022
The average spices; turmeric (curcuma) import price stood at $3,816 per ton in 2021, surging by 17% against the previous year. In general, import price indicated modest growth from 2012 to 2021: its price increased at an average annual rate of +1.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 an increase of 53% against the previous year. As a result, import price attained the peak level of $5,304 per ton. From 2014 to 2021, the average import prices remained at a somewhat 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 Spain ($11,091 per ton), while the price for Latvia ($1,605 per ton) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+9.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Spices; Turmeric (Curcuma) Price in Hungary (FOB) - 2022
The average spices; turmeric (curcuma) export price stood at $4,472 per ton in 2021, increasing by 34% against the previous year. Over the period under review, the export price recorded slight growth. The most prominent rate of growth was recorded in 2016 when the average export price increased by 172%. Over the period under review, the average export prices reached the peak figure at $9,904 per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was China ($7,241 per ton), while the average price for exports to Moldova ($1,656 per ton) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+10.0%), while the prices for the other major destinations experienced mixed trend patterns.
Spices; Turmeric (Curcuma) Imports in Hungary
In 2022, supplies from abroad of spices; turmeric (curcuma) decreased by -12.3% to 90 tons, falling for the second consecutive year after two years of growth. The total import volume increased at an average annual rate of +7.7% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 with an increase of 44%. As a result, imports reached the peak of 103 tons. From 2021 to 2022, the growth of imports failed to regain momentum.
In value terms, spices; turmeric (curcuma) imports dropped to $389K in 2022. Overall, total imports indicated buoyant growth from 2019 to 2022: its value increased at an average annual rate of +14.9% 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 increased by +51.7% against 2019 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 31% against the previous year.
Import of Spices; Turmeric (Curcuma) in Hungary (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | CAGR, 2019-2021 | |
Germany | 27.0 | 70.1 | 115 | 106.4% | |
Netherlands | 86.9 | 87.6 | 107 | 11.0% | |
Austria | 49.3 | 61.4 | 43.8 | -5.7% | |
Spain | 11.7 | 14.0 | 28.2 | 55.3% | |
China | 12.7 | 22.7 | 27.3 | 46.6% | |
Poland | 29.4 | 22.0 | 21.0 | -15.5% | |
Latvia | 5.0 | 19.8 | 18.3 | 91.3% | |
Slovakia | 14.2 | 2.1 | 2.3 | -59.8% | |
Others | 20.3 | 36.1 | 27.1 | 15.5% | |
Total | 257 | 336 | 390 | 23.2% |
Top Suppliers of Spices; Turmeric (Curcuma) to Hungary in 2022:
- Netherlands (43.5 tons)
- Germany (15.5 tons)
- Latvia (11.4 tons)
- Poland (11.0 tons)
- Austria (7.5 tons)
- China (3.8 tons)
- Spain (2.5 tons)
- Slovakia (0.6 tons)
Spices; Turmeric (Curcuma) Exports in Hungary
In 2022, approx. 45 tons of spices; turmeric (curcuma) were exported from Hungary; rising by 87% on 2021 figures. Overall, exports recorded significant growth. The pace of growth was the most pronounced in 2020 with an increase of 1,367%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.
In value terms, spices; turmeric (curcuma) exports soared to $149K in 2022. In general, exports showed significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 393%. The exports peaked in 2022 and are expected to retain growth in the near future.
Export of Spices; Turmeric (Curcuma) in Hungary (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | CAGR, 2019-2021 | |
Czech Republic | N/A | 13.4 | 18.2 | 35.8% | |
Romania | 1.0 | 13.3 | 13.7 | 270.1% | |
Croatia | 1.3 | 12.7 | 12.9 | 215.0% | |
Germany | 10.1 | 25.0 | 9.7 | -2.0% | |
Singapore | 6.8 | 8.1 | 7.3 | 3.6% | |
Greece | N/A | 2.1 | 2.1 | 0.0% | |
Moldova | N/A | N/A | 1.8 | 0% | |
Italy | N/A | 2.9 | 1.2 | -58.6% | |
Others | 2.8 | 30.9 | 39.7 | 276.5% | |
Total | 22.0 | 108 | 107 | 120.5% |
Top Export Markets for Spices; Turmeric (Curcuma) from Hungary in 2022:
- Germany (5.6 tons)
- Romania (5.1 tons)
- Czech Republic (3.0 tons)
- Croatia (2.1 tons)
- Singapore (1.2 tons)
- Greece (1.2 tons)
- Moldova (1.1 tons)
- Italy (0.2 tons)
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