Spices; Turmeric (Curcuma) Price in Lithuania - 2023
Contents:
- Spices; Turmeric (Curcuma) Price in Lithuania (CIF) - 2022
- Spices; Turmeric (Curcuma) Price in Lithuania (FOB) - 2022
- Spices; Turmeric (Curcuma) Imports in Lithuania
- Spices; Turmeric (Curcuma) Exports in Lithuania
Spices; Turmeric (Curcuma) Price in Lithuania (CIF) - 2022
The average spices; turmeric (curcuma) import price stood at $2,738 per ton in 2022, with an increase of 21% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.7%. The most prominent rate of growth was recorded in 2018 when the average import price increased by 27% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Estonia ($18,398 per ton), while the price for India ($1,713 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+12.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Spices; Turmeric (Curcuma) Price in Lithuania (FOB) - 2022
In 2022, the average spices; turmeric (curcuma) export price amounted to $3,387 per ton, with a decrease of -4.7% against the previous year. Over the period under review, the export price saw a perceptible downturn. The most prominent rate of growth was recorded in 2016 when the average export price increased by 17% against the previous year. Over the period under review, the average export prices reached the maximum at $5,363 per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Ukraine ($10,281 per ton), while the average price for exports to the Czech Republic ($2,675 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 Ukraine (+10.5%), while the prices for the other major destinations experienced more modest paces of growth.
Spices; Turmeric (Curcuma) Imports in Lithuania
In 2022, after three years of growth, there was significant decline in purchases abroad of spices; turmeric (curcuma), when their volume decreased by -18.3% to 83 tons. The total import volume increased at an average annual rate of +4.2% 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 29% against the previous year.
In value terms, spices; turmeric (curcuma) imports reduced slightly to $226K in 2022. The total import value increased at an average annual rate of +11.8% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 with an increase of 35%.
| Import of Spices; Turmeric (Curcuma) in Lithuania (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 85.1 | 84.5 | 124 | 99.3 | 5.3% |
| Estonia | 39.4 | 54.6 | 53.1 | 52.9 | 10.3% |
| Latvia | 11.1 | 21.5 | 18.5 | 34.6 | 46.1% |
| Germany | 6.6 | 9.3 | 0.7 | 7.6 | 4.8% |
| Poland | 8.8 | 22.2 | 9.2 | 7.1 | -6.9% |
| Others | 10.6 | 25.7 | 23.8 | 24.6 | 32.4% |
| Total | 162 | 218 | 230 | 226 | 11.7% |
Top Suppliers of Spices; Turmeric (Curcuma) to Lithuania in 2022:
- India (58.0 tons)
- Latvia (15.4 tons)
- Estonia (2.9 tons)
- Germany (2.2 tons)
- Poland (1.7 tons)
Spices; Turmeric (Curcuma) Exports in Lithuania
For the fourth consecutive year, Lithuania recorded growth in overseas shipments of spices; turmeric (curcuma), which increased by 5.8% to 18 tons in 2022. The total export volume increased at an average annual rate of +10.6% 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 19%. The exports peaked in 2022 and are expected to retain growth in years to come.
In value terms, spices; turmeric (curcuma) exports totaled $62K in 2022. The total export value increased at an average annual rate of +11.4% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 36%. Over the period under review, the exports reached the peak figure in 2022 and are likely to see gradual growth in years to come.
| Export of Spices; Turmeric (Curcuma) in Lithuania (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Latvia | 36.7 | 45.0 | 40.9 | 35.5 | -1.1% |
| Germany | 0.3 | 1.8 | 2.0 | 6.2 | 174.4% |
| United Arab Emirates | N/A | N/A | N/A | 5.8 | 0% |
| Ukraine | 1.4 | 1.8 | 1.3 | 5.5 | 57.8% |
| Estonia | 1.3 | 1.6 | 5.6 | 4.8 | 54.6% |
| Czech Republic | N/A | 0.3 | 1.3 | 1.6 | 130.9% |
| Spain | 0.1 | N/A | 2.6 | 1.1 | 122.4% |
| Belarus | 1.3 | 7.0 | 4.8 | 0.8 | -14.9% |
| Russia | 3.5 | 2.8 | 1.3 | N/A | -39.1% |
| Others | 0.4 | 1.1 | 2.1 | 0.8 | 26.0% |
| Total | 45.0 | 61.4 | 61.8 | 62.3 | 11.5% |
Top Export Markets for Spices; Turmeric (Curcuma) from Lithuania in 2022:
- Latvia (12.2 tons)
- United Arab Emirates (2.0 tons)
- Germany (1.4 tons)
- Estonia (1.1 tons)
- Czech Republic (0.6 tons)
- Ukraine (0.5 tons)
- Spain (0.4 tons)
- Belarus (0.1 tons)
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