Spices; Turmeric (Curcuma) Price in Vietnam - 2022
Contents:
- Spices; Turmeric (Curcuma) Price in Vietnam (FOB) - 2022
- Spices; Turmeric (Curcuma) Price in Vietnam (CIF) - 2022
- Spices; Turmeric (Curcuma) Exports in Vietnam
- Spices; Turmeric (Curcuma) Imports in Vietnam
Spices; Turmeric (Curcuma) Price in Vietnam (FOB) - 2022
In 2022, the average spices; turmeric (curcuma) export price amounted to $1,469 per ton, with a decrease of -17.2% against the previous year. Over the period under review, the export price, however, recorded slight growth. The growth pace was the most rapid in 2017 when the average export price increased by 75% against the previous year. Over the period under review, the average export prices attained the maximum at $4,420 per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.
Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($1,469 per ton), while the average price for exports to China ($1,469 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 Japan (+1.2%), while the prices for the other major destinations experienced mixed trend patterns.
Spices; Turmeric (Curcuma) Price in Vietnam (CIF) - 2022
In 2022, the average spices; turmeric (curcuma) import price amounted to $2,382 per ton, surging by 7.7% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 21%. The import price peaked at $2,623 per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were India ($2,382 per ton) and Japan ($2,382 per ton), while the price for South Korea ($2,382 per ton) and Myanmar ($2,382 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+4.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Spices; Turmeric (Curcuma) Exports in Vietnam
In 2022, after three years of growth, there was significant decline in shipments abroad of spices; turmeric (curcuma), when their volume decreased by -27% to 5K tons. Over the period under review, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 19%.
In value terms, spices; turmeric (curcuma) exports fell rapidly to $7.4M in 2022. In general, exports continue to indicate a sharp setback. The most prominent rate of growth was recorded in 2021 when exports increased by 18% against the previous year.
| Export of Spices; Turmeric (Curcuma) in Vietnam (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 15.1 | 9.5 | 10.3 | 6.4 | -24.9% |
| Japan | 0.1 | 0.2 | 0.5 | 0.3 | 44.2% |
| China | N/A | N/A | 0.6 | 0.3 | -50.0% |
| Others | 0.4 | 0.6 | 0.8 | 0.3 | -9.1% |
| Total | 15.6 | 10.3 | 12.2 | 7.4 | -22.0% |
Top Export Markets for Spices; Turmeric (Curcuma) from Vietnam in 2022:
- India (4.4K tons)
- Japan (0.2K tons)
- China (0.2K tons)
Spices; Turmeric (Curcuma) Imports in Vietnam
In 2022, approx. 492 tons of spices; turmeric (curcuma) were imported into Vietnam; increasing by 144% on the previous year. In general, imports showed a buoyant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, spices; turmeric (curcuma) imports surged to $1.2M in 2022. Overall, imports recorded a prominent expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Spices; Turmeric (Curcuma) in Vietnam (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 423 | 333 | 411 | 856 | 26.5% |
| South Korea | N/A | N/A | 8.6 | 199 | 2214.0% |
| Myanmar | 112 | N/A | N/A | 77.8 | -11.4% |
| Japan | 56.1 | N/A | 20.0 | 26.8 | -21.8% |
| Indonesia | 105 | 22.4 | N/A | N/A | -78.7% |
| Others | 0.7 | 10.2 | 5.5 | 12.9 | 164.1% |
| Total | 698 | 365 | 445 | 1,172 | 18.9% |
Top Suppliers of Spices; Turmeric (Curcuma) to Vietnam in 2022:
- India (359.3 tons)
- South Korea (83.4 tons)
- Myanmar (32.6 tons)
- Japan (11.3 tons)
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