Price for Spices; Ginger, Crushed or Ground in Canada - 2023
Contents:
- Price for Spices; Ginger, Crushed or Ground in Canada (CIF) - 2023
- Price for Spices; Ginger, Crushed or Ground in Canada (FOB) - 2022
- Imports of Spices; Ginger, Crushed or Ground in Canada
- Exports of Spices; Ginger, Crushed or Ground in Canada
Price for Spices; Ginger, Crushed or Ground in Canada (CIF) - 2023
In June 2023, the average import price for spices; ginger, crushed or ground amounted to $4,605 per ton, waning by -8.9% against the previous month. In general, import price indicated perceptible growth from June 2022 to June 2023: its price increased at an average monthly rate of +3.9% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on June 2023 figures, spices; ginger, crushed or ground import price increased by +25.3% against April 2023 indices. The most prominent rate of growth was recorded in February 2023 when the average import price increased by 53% month-to-month. As a result, import price attained the peak level of $6,456 per ton. From March 2023 to June 2023, the average import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In June 2023, the country with the highest price was Peru ($9,498 per ton), while the price for India ($3,850 per ton) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by China (+12.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Spices; Ginger, Crushed or Ground in Canada (FOB) - 2022
The average export price for spices; ginger, crushed or ground stood at $4,302 per ton in 2022, waning by -4.1% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of 89% against the previous year. As a result, the export price attained the peak level of $7,328 per ton. From 2015 to 2022, the average export prices remained at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($4,365 per ton), while the average price for exports to Saint Kitts and Nevis totaled $2,670 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (-0.1%), while the prices for the other major destinations experienced a decline.
Imports of Spices; Ginger, Crushed or Ground in Canada
Spices; ginger, crushed or ground imports into Canada soared to 931 tons in 2022, rising by 29% on 2021 figures. In general, total imports indicated a remarkable increase from 2019 to 2022: its volume increased at an average annual rate of +15.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +52.2% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, spices; ginger, crushed or ground imports surged to $3.8M in 2022. Over the period under review, total imports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +18.1% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +64.8% against 2019 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 30% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in the immediate term.
| Import of Spices; Ginger, Crushed or Ground in Canada (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 624 | 736 | 1,064 | 1,306 | 27.9% |
| China | 491 | 979 | 1,107 | 1,291 | 38.0% |
| South Africa | 0.2 | N/A | 0.1 | 241 | 964.1% |
| Nigeria | 46.7 | 263 | 310 | 229 | 69.9% |
| United States | 345 | 308 | 115 | 181 | -19.3% |
| Pakistan | 42.7 | 67.5 | 87.4 | 108 | 36.2% |
| Vietnam | 350 | 129 | 84.1 | 60.5 | -44.3% |
| Others | 434 | 545 | 395 | 429 | -0.4% |
| Total | 2,333 | 3,028 | 3,162 | 3,845 | 18.1% |
Top Suppliers of Spices; Ginger, Crushed or Ground to Canada in 2022:
- China (357.2 tons)
- India (338.8 tons)
- Nigeria (53.8 tons)
- Pakistan (49.0 tons)
- South Africa (36.2 tons)
- United States (22.7 tons)
- Vietnam (12.2 tons)
Exports of Spices; Ginger, Crushed or Ground in Canada
In 2022, approx. 99 tons of spices; ginger, crushed or ground were exported from Canada; picking up by 163% compared with 2021. Overall, exports continue to indicate a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, spices; ginger, crushed or ground exports soared to $425K in 2022. Over the period under review, exports showed a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Spices; Ginger, Crushed or Ground in Canada (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 60.9 | 125 | 152 | 415 | 89.6% |
| Saint Kitts and Nevis | 13.5 | 21.0 | 15.6 | 9.7 | -10.4% |
| Others | 3.4 | 20.5 | 0.9 | N/A | -48.6% |
| Total | 77.8 | 167 | 169 | 425 | 76.1% |
Top Export Markets for Spices; Ginger, Crushed or Ground from Canada in 2022:
- United States (95.1 tons)
- Saint Kitts and Nevis (3.6 tons)
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