Spices; Turmeric (Curcuma) Price in Ireland - 2023
Contents:
- Spices; Turmeric (Curcuma) Price in Ireland (CIF) - 2023
- Spices; Turmeric (Curcuma) Price in Ireland (FOB) - 2022
- Spices; Turmeric (Curcuma) Imports in Ireland
- Spices; Turmeric (Curcuma) Exports in Ireland
Spices; Turmeric (Curcuma) Price in Ireland (CIF) - 2023
In June 2023, the average spices; turmeric (curcuma) import price amounted to $5,326 per ton, declining by -10.3% against the previous month. Overall, the import price continues to indicate a abrupt downturn. The most prominent rate of growth was recorded in December 2022 an increase of 535% against the previous month. Over the period under review, average import prices reached the maximum at $19,682 per ton in March 2023; however, from April 2023 to June 2023, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In June 2023, the country with the highest price was China ($14,018 per ton), while the price for India ($2,292 per ton) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by the UK (+8.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Spices; Turmeric (Curcuma) Price in Ireland (FOB) - 2022
The average spices; turmeric (curcuma) export price stood at $11,875 per ton in 2021, remaining relatively unchanged against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of 66% against the previous year. The export price peaked at $13,413 per ton in 2013; however, from 2014 to 2021, the export prices remained at a 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 Germany ($13,671 per ton), while the average price for exports to Cyprus ($7,484 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 France (+63.3%), while the prices for the other major destinations experienced a decline.
Spices; Turmeric (Curcuma) Imports in Ireland
In 2022, supplies from abroad of spices; turmeric (curcuma) decreased by -4.8% to 144 tons, falling for the second year in a row after two years of growth. Over the period under review, total imports indicated a strong increase from 2019 to 2022: its volume increased at an average annual rate of +7.4% 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 -25.8% against 2020 indices. The pace of growth appeared the most rapid in 2020 with an increase of 67% against the previous year. As a result, imports attained the peak of 194 tons. From 2021 to 2022, the growth of imports failed to regain momentum.
In value terms, spices; turmeric (curcuma) imports soared to $952K in 2022. In general, total imports indicated resilient growth from 2019 to 2022: its value increased at an average annual rate of +19.7% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +71.3% against 2019 indices. The pace of growth appeared the most rapid in 2021 with an increase of 40%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the near future.
Import of Spices; Turmeric (Curcuma) in Ireland (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | CAGR, 2019-2021 | |
India | 231 | 2.1 | 431 | 36.6% | |
United Kingdom | 235 | 453 | 212 | -5.0% | |
Netherlands | 14.0 | 52.3 | 64.2 | 114.1% | |
Germany | 2.0 | 50.7 | 27.4 | 270.1% | |
Belgium | N/A | 2.8 | 13.4 | 378.6% | |
Thailand | 49.4 | N/A | N/A | 0% | |
Others | 24.2 | 13.0 | 58.6 | 55.6% | |
Total | 555 | 574 | 807 | 20.6% |
Top Suppliers of Spices; Turmeric (Curcuma) to Ireland in 2022:
- India (84.5 tons)
- United Kingdom (43.7 tons)
- Netherlands (12.1 tons)
- Germany (3.2 tons)
- Belgium (2.6 tons)
Spices; Turmeric (Curcuma) Exports in Ireland
Spices; turmeric (curcuma) exports from Ireland contracted dramatically to 173 kg in 2022, which is down by -98.4% compared with 2021 figures. Overall, exports continue to indicate a sharp reduction. The pace of growth appeared the most rapid in 2021 with an increase of 5,072%. As a result, the exports reached the peak of 10 tons, and then reduced rapidly in the following year.
In value terms, spices; turmeric (curcuma) exports contracted markedly to $2.3K in 2022. Over the period under review, exports recorded a precipitous shrinkage. The pace of growth appeared the most rapid in 2021 when exports increased by 5,035%. As a result, the exports reached the peak of $125K, and then contracted notably in the following year.
Export of Spices; Turmeric (Curcuma) in Ireland (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | CAGR, 2019-2021 | |
Germany | N/A | N/A | 98.8 | 0% | |
United Kingdom | 12.6 | 2.4 | 24.8 | 40.3% | |
Others | 2.6 | 0.1 | 1.1 | -35.0% | |
Total | 15.2 | 2.4 | 125 | 186.8% |
Top Export Markets for Spices; Turmeric (Curcuma) from Ireland in 2022:
- Germany (7.2 tons)
- United Kingdom (3.1 tons)
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