Spices; Turmeric (Curcuma) Price in Turkey - 2023
Contents:
- Spices; Turmeric (Curcuma) Price in Turkey (CIF) - 2023
- Spices; Turmeric (Curcuma) Price in Turkey (FOB) - 2022
- Spices; Turmeric (Curcuma) Imports in Turkey
- Spices; Turmeric (Curcuma) Exports in Turkey
Spices; Turmeric (Curcuma) Price in Turkey (CIF) - 2023
In July 2023, the average spices; turmeric (curcuma) import price amounted to $903 per ton, growing by 4% against the previous month. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in September 2022 when the average import price increased by 91% m-o-m. As a result, import price reached the peak level of $1,979 per ton. From October 2022 to July 2023, the average import prices failed to regain momentum.
Average prices varied somewhat amongst the major supplying countries. In July 2023, the country with the highest price was India ($983 per ton), while the price for Ethiopia stood at $667 per ton.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Iran (+8.4%), while the prices for the other major suppliers experienced a decline.
Spices; Turmeric (Curcuma) Price in Turkey (FOB) - 2022
In 2021, the average spices; turmeric (curcuma) export price amounted to $1,807 per ton, increasing by 3.3% against the previous year. Overall, the export price, however, continues to indicate a drastic downturn. The most prominent rate of growth was recorded in 2014 an increase of 24% against the previous year. As a result, the export price reached the peak level of $7,126 per ton. From 2015 to 2021, the average export prices failed to regain momentum.
There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Azerbaijan ($4,239 per ton), while the average price for exports to Libya ($1,087 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 Azerbaijan (+1.0%), while the prices for the other major destinations experienced a decline.
Spices; Turmeric (Curcuma) Imports in Turkey
Spices; turmeric (curcuma) imports into Turkey soared to 1.4K tons in 2022, surging by 36% compared with the previous year's figure. In general, imports continue to indicate a moderate expansion. The pace of growth appeared the most rapid in 2020 when imports increased by 74%. As a result, imports attained the peak of 2.3K tons. From 2021 to 2022, the growth of imports remained at a lower figure.
In value terms, spices; turmeric (curcuma) imports skyrocketed to $1.6M in 2022. Overall, imports showed prominent growth.
| Import of Spices; Turmeric (Curcuma) in Turkey (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | CAGR, 2019-2021 | |
| India | 1,066 | 1,744 | 736 | -16.9% | |
| Ethiopia | 120 | 156 | 118 | -0.8% | |
| Peru | 33.9 | 50.8 | 45.9 | 16.4% | |
| Myanmar | 16.7 | N/A | 24.8 | 21.9% | |
| Uzbekistan | N/A | N/A | 2.7 | 0% | |
| Others | 22.3 | 107 | 32.2 | 20.2% | |
| Total | 1,259 | 2,058 | 960 | -12.7% | |
Top Suppliers of Spices; Turmeric (Curcuma) to Turkey in 2022:
- India (710.8 tons)
- Ethiopia (178.2 tons)
- Peru (56.9 tons)
- Myanmar (28.0 tons)
- Uzbekistan (18.0 tons)
Spices; Turmeric (Curcuma) Exports in Turkey
In 2022, overseas shipments of spices; turmeric (curcuma) decreased by -43.1% to 217 tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports saw a deep contraction. The most prominent rate of growth was recorded in 2020 when exports increased by 29%.
In value terms, spices; turmeric (curcuma) exports fell to $614K in 2022. The total export value increased at an average annual rate of +10.5% over the period 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 33%.
| Export of Spices; Turmeric (Curcuma) in Turkey (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | CAGR, 2019-2021 | |
| Iraq | N/A | N/A | 92.0 | 0% | |
| Libya | N/A | N/A | 88.1 | 0% | |
| United Kingdom | 26.9 | 12.2 | 78.5 | 70.8% | |
| Syrian Arab Republic | N/A | N/A | 69.9 | 0% | |
| Azerbaijan | 46.9 | 42.1 | 66.8 | 19.3% | |
| Germany | 38.7 | 71.2 | 62.5 | 27.1% | |
| Egypt | N/A | N/A | 45.2 | 0% | |
| United States | N/A | 56.4 | 28.9 | -48.8% | |
| Yemen | 2.3 | N/A | N/A | 0% | |
| Others | 340 | 420 | 156 | -32.3% | |
| Total | 454 | 602 | 688 | 23.1% | |
Top Export Markets for Spices; Turmeric (Curcuma) from Turkey in 2022:
- Libya (81.0 tons)
- Iraq (56.0 tons)
- Syrian Arab Republic (55.5 tons)
- United Kingdom (21.9 tons)
- Germany (20.3 tons)
- Egypt (15.8 tons)
- Azerbaijan (15.8 tons)
- United States (3.3 tons)
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