Spices; Turmeric (Curcuma) Price in the UK - 2023
Contents:
- Spices; Turmeric (Curcuma) Price in the UK (CIF) - 2023
- Spices; Turmeric (Curcuma) Price in the UK (FOB) - 2022
- Spices; Turmeric (Curcuma) Imports in the UK
- Spices; Turmeric (Curcuma) Exports in the UK
Spices; Turmeric (Curcuma) Price in the UK (CIF) - 2023
The average spices; turmeric (curcuma) import price stood at $2,537 per ton in May 2023, increasing by 22% against the previous month. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in March 2023 an increase of 61% m-o-m. As a result, import price reached the peak level of $3,991 per ton. From April 2023 to May 2023, the average import prices remained at a somewhat lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Spain ($3,614 per ton), while the price for India ($2,279 per ton) was amongst the lowest.
From May 2022 to May 2023, the most notable rate of growth in terms of prices was attained by India (+1.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Spices; Turmeric (Curcuma) Price in the UK (FOB) - 2022
The average spices; turmeric (curcuma) export price stood at $4,324 per ton in 2021, declining by -20.8% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the average export price increased by 18%. As a result, the export price reached the peak level of $6,104 per ton. From 2019 to 2021, the average export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($20,259 per ton), while the average price for exports to France ($2,187 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 the United States (+14.9%), while the prices for the other major destinations experienced more modest paces of growth.
Spices; Turmeric (Curcuma) Imports in the UK
In 2022, overseas purchases of spices; turmeric (curcuma) decreased by -43.4% to 4K tons, falling for the second consecutive year after two years of growth. Over the period under review, imports faced a significant decline. The pace of growth appeared the most rapid in 2020 with an increase of 17% against the previous year. As a result, imports reached the peak of 10K tons. From 2021 to 2022, the growth of imports failed to regain momentum.
In value terms, spices; turmeric (curcuma) imports declined markedly to $11M in 2022. In general, imports showed a deep reduction. The growth pace was the most rapid in 2020 when imports increased by 16%. As a result, imports reached the peak of $17M. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
| Import of Spices; Turmeric (Curcuma) in the UK (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | CAGR, 2019-2021 | |
| India | 7.2 | 12.7 | 9.5 | 14.9% | |
| Netherlands | 0.6 | 0.7 | 0.6 | 0.0% | |
| Others | 7.1 | 3.9 | 3.5 | -29.8% | |
| Total | 14.9 | 17.3 | 13.6 | -4.5% | |
Top Suppliers of Spices; Turmeric (Curcuma) to the UK in 2022:
- India (6.4K tons)
- Netherlands (0.2K tons)
Spices; Turmeric (Curcuma) Exports in the UK
In 2022, overseas shipments of spices; turmeric (curcuma) decreased by -45.3% to 303 tons, falling for the second year in a row after two years of growth. Overall, exports recorded a dramatic decrease. The pace of growth appeared the most rapid in 2020 when exports increased by 7.5%. As a result, the exports attained the peak of 909 tons. From 2021 to 2022, the growth of the exports remained at a lower figure.
In value terms, spices; turmeric (curcuma) exports dropped dramatically to $1.3M in 2022. In general, exports saw a dramatic shrinkage. The pace of growth appeared the most rapid in 2020 with an increase of 1.1%. As a result, the exports reached the peak of $5M. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
| Export of Spices; Turmeric (Curcuma) in the UK (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | CAGR, 2019-2021 | |
| Netherlands | 534 | 772 | 846 | 25.9% | |
| Ireland | 473 | 673 | 509 | 3.7% | |
| France | 437 | 414 | 203 | -31.8% | |
| United States | 79.3 | 65.4 | 201 | 59.2% | |
| Malta | 31.7 | 14.1 | 114 | 89.6% | |
| Germany | 1,064 | 925 | 80.9 | -72.4% | |
| Austria | 277 | 124 | 52.9 | -56.3% | |
| Sweden | 116 | 144 | 45.4 | -37.4% | |
| Belgium | 151 | 170 | 41.8 | -47.4% | |
| Spain | 190 | 191 | 25.5 | -63.4% | |
| Italy | 677 | 735 | 16.2 | -84.5% | |
| Portugal | 172 | 156 | 8.9 | -77.3% | |
| Poland | 127 | 145 | 3.5 | -83.4% | |
| Others | 584 | 438 | 246 | -35.1% | |
| Total | 4,912 | 4,966 | 2,394 | -30.2% | |
Top Export Markets for Spices; Turmeric (Curcuma) from the UK in 2022:
- Netherlands (261.9 tons)
- France (92.8 tons)
- Ireland (89.7 tons)
- Austria (12.3 tons)
- Belgium (11.6 tons)
- Germany (10.9 tons)
- Malta (10.5 tons)
- United States (9.9 tons)
- Sweden (9.7 tons)
- Spain (7.4 tons)
- Portugal (2.1 tons)
- Italy (1.4 tons)
- Poland (1.2 tons)
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