Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in India - 2023
Contents:
- Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in India (FOB) - 2023
- Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in India (CIF) - 2023
- Exports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in India
- Imports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in India
Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in India (FOB) - 2023
The average export price for ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses stood at $1,570 per ton in November 2023, waning by -2.1% against the previous month. Over the last twelve-month period, it increased at an average monthly rate of +1.8%. The pace of growth was the most pronounced in December 2022 an increase of 40% month-to-month. The export price peaked at $1,866 per ton in September 2023; however, from October 2023 to November 2023, the export prices failed to regain momentum.
Prices varied noticeably by the country of destination: the country with the highest price was Morocco ($3,711 per ton), while the average price for exports to China ($701 per ton) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was recorded for supplies to Morocco (+9.3%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in India (CIF) - 2023
In November 2023, the average import price for ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses amounted to $1,848 per ton, growing by 24% against the previous month. Over the period under review, import price indicated a resilient increase from November 2022 to November 2023: its price increased at an average monthly rate of +7.2% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on November 2023 figures, import price for ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses increased by +82.4% against July 2023 indices. The growth pace was the most rapid in December 2022 when the average import price increased by 150% against the previous month. As a result, import price reached the peak level of $1,995 per ton. From January 2023 to November 2023, the average import prices remained at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In November 2023, the country with the highest price was the United Arab Emirates ($2,222 per ton), while the price for Nepal ($739 per ton) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by Nepal (+8.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in India
In 2022, after three years of growth, there was significant decline in overseas shipments of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses, when their volume decreased by -18.3% to 360K tons. Overall, total exports indicated a remarkable increase from 2019 to 2022: its volume increased at an average annual rate of +12.1% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 when exports increased by 65%.
In value terms, exports of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses fell to $514M in 2022. The total export value increased at an average annual rate of +8.9% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 34% against the previous year.
| Export of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 70.2 | 92.4 | 90.3 | 61.1 | -4.5% |
| United Arab Emirates | 21.7 | 27.5 | 33.8 | 51.4 | 33.3% |
| Bangladesh | 27.4 | 90.9 | 78.8 | 47.7 | 20.3% |
| Morocco | 19.3 | 21.2 | 34.2 | 26.1 | 10.6% |
| Germany | 13.2 | 14.6 | 24.2 | 24.8 | 23.4% |
| United Kingdom | 22.2 | 25.4 | 26.5 | 21.1 | -1.7% |
| Saudi Arabia | 17.0 | 17.8 | 17.0 | 19.6 | 4.9% |
| China | 6.9 | 16.8 | 18.4 | 19.2 | 40.7% |
| Japan | 9.8 | 11.4 | 13.1 | 12.9 | 9.6% |
| Malaysia | 10.6 | 11.4 | 13.2 | 11.9 | 3.9% |
| Iran | 16.0 | 15.8 | 7.0 | 11.8 | -9.7% |
| South Africa | 9.0 | 11.8 | 11.1 | 11.6 | 8.8% |
| Nepal | 8.4 | 12.2 | 14.4 | 11.4 | 10.7% |
| Others | 147 | 165 | 195 | 183 | 7.6% |
| Total | 398 | 535 | 577 | 514 | 8.9% |
Top Export Markets for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices from India in 2022:
- Bangladesh (84.8K tons)
- United Arab Emirates (32.0K tons)
- China (26.1K tons)
- United States (19.5K tons)
- Morocco (18.3K tons)
- Saudi Arabia (11.4K tons)
- Iran (11.3K tons)
- United Kingdom (8.6K tons)
- Malaysia (8.6K tons)
- Germany (7.7K tons)
- South Africa (7.1K tons)
- Nepal (7.1K tons)
- Japan (6.8K tons)
Imports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in India
In 2022, the amount of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses imported into India soared to 75K tons, with an increase of 44% on 2021 figures. Over the period under review, total imports indicated buoyant growth from 2019 to 2022: its volume increased at an average annual rate of +10.3% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +58.3% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, imports of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses totaled $89M in 2022. The total import value increased at an average annual rate of +4.2% over the period from 2019 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Nigeria | 13.4 | 13.4 | 15.8 | 19.2 | 12.7% |
| Vietnam | 15.5 | 10.0 | 11.4 | 13.2 | -5.2% |
| Afghanistan | 18.5 | 22.0 | 17.8 | 12.5 | -12.3% |
| Indonesia | 4.8 | 6.8 | 7.2 | 8.1 | 19.1% |
| Nepal | 5.4 | 5.4 | 4.7 | 7.9 | 13.5% |
| Myanmar | 6.0 | 6.0 | 2.1 | 6.0 | 0.0% |
| Iran | N/A | 0.1 | 0.6 | 5.2 | 621.1% |
| United Arab Emirates | 0.8 | 5.3 | 5.4 | 4.1 | 72.4% |
| Ethiopia | 3.9 | 0.8 | 2.0 | 1.1 | -34.4% |
| Others | 10.4 | 9.8 | 11.6 | 11.8 | 4.3% |
| Total | 78.7 | 79.4 | 78.7 | 89.0 | 4.2% |
Top Suppliers of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices to India in 2022:
- Nepal (22.8K tons)
- Nigeria (21.3K tons)
- Indonesia (7.3K tons)
- Afghanistan (4.8K tons)
- Vietnam (4.2K tons)
- Myanmar (3.7K tons)
- Iran (1.9K tons)
- United Arab Emirates (1.4K tons)
- Ethiopia (1.3K tons)
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