Spices; Turmeric (Curcuma) Price in Kuwait - 2021
Contents:
- Spices; Turmeric (Curcuma) Price in Kuwait (CIF) - 2022
- Spices; Turmeric (Curcuma) Price in Kuwait (FOB) - 2022
- Spices; Turmeric (Curcuma) Imports in Kuwait
- Spices; Turmeric (Curcuma) Exports in Kuwait
Spices; Turmeric (Curcuma) Price in Kuwait (CIF) - 2022
In 2021, the average spices; turmeric (curcuma) import price amounted to $1,285 per ton, rising by 9.9% against the previous year. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the average import price increased by 16% against the previous year. Over the period under review, average import prices attained the peak figure at $1,625 per ton in 2016; however, from 2017 to 2021, 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 Pakistan ($2,995 per ton), while the price for Ethiopia ($117 per ton) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+6.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Spices; Turmeric (Curcuma) Price in Kuwait (FOB) - 2022
The average spices; turmeric (curcuma) export price stood at $3,955 per ton in 2021, picking up by 47% against the previous year. Over the period under review, the export price recorded a resilient increase. The pace of growth appeared the most rapid in 2016 when the average export price increased by 394%. Over the period under review, the average export prices reached the maximum at $5,989 per ton in 2017; however, from 2018 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 Oman ($12,027 per ton), while the average price for exports to the United Arab Emirates ($2,080 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 India (+7.3%), while the prices for the other major destinations experienced a decline.
Spices; Turmeric (Curcuma) Imports in Kuwait
After three years of growth, purchases abroad of spices; turmeric (curcuma) decreased by -4.7% to 1.6K tons in 2022. The total import volume increased at an average annual rate of +9.1% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of 24% against the previous year.
In value terms, spices; turmeric (curcuma) imports shrank to $2M in 2022. The total import value increased at an average annual rate of +4.5% over the period from 2019 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth was the most pronounced in 2021 with an increase of 21%. As a result, imports attained the peak of $2.2M, and then contracted in the following year.
Import of Spices; Turmeric (Curcuma) in Kuwait (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | CAGR, 2019-2021 | |
India | 1,440 | 1,418 | 1,500 | 2.1% | |
Bangladesh | 112 | 164 | 120 | 3.5% | |
United Arab Emirates | 65.2 | 75.2 | 61.4 | -3.0% | |
Pakistan | 57.9 | 71.3 | 40.6 | -16.3% | |
Ethiopia | 20.2 | 15.0 | 8.7 | -34.4% | |
Others | 51.3 | 58.9 | 453 | 197.2% | |
Total | 1,746 | 1,803 | 2,184 | 11.8% |
Top Suppliers of Spices; Turmeric (Curcuma) to Kuwait in 2022:
- India (1214.1 tons)
- Ethiopia (75.0 tons)
- Bangladesh (49.1 tons)
- United Arab Emirates (38.9 tons)
- Pakistan (13.6 tons)
Spices; Turmeric (Curcuma) Exports in Kuwait
In 2022, spices; turmeric (curcuma) exports from Kuwait reached 6.9 tons, growing by 7% compared with 2021 figures. Over the period under review, total exports indicated a strong expansion from 2019 to 2022: its volume increased at an average annual rate of +17.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -6.2% against 2020 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 72% against the previous year. As a result, the exports attained the peak of 7.4 tons. From 2021 to 2022, the growth of the exports failed to regain momentum.
In value terms, spices; turmeric (curcuma) exports shrank to $23K in 2022. In general, exports saw significant growth. The pace of growth was the most pronounced in 2020 when exports increased by 299%.
Export of Spices; Turmeric (Curcuma) in Kuwait (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | CAGR, 2019-2021 | |
India | 1.9 | 3.4 | 2.8 | 21.4% | |
United Arab Emirates | 1.2 | 1.9 | 1.4 | 8.0% | |
Oman | 0.3 | 1.1 | 0.8 | 63.3% | |
Saudi Arabia | N/A | 0.2 | N/A | 0% | |
Others | 1.6 | 13.4 | 20.6 | 258.8% | |
Total | 5.0 | 19.9 | 25.6 | 126.3% |
Top Export Markets for Spices; Turmeric (Curcuma) from Kuwait in 2022:
- United Arab Emirates (0.7 tons)
- India (0.4 tons)
- Oman (0.1 tons)
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