Price for Spices; Ginger, Neither Crushed Nor Ground in Sri Lanka - 2022
Contents:
- Price for Spices; Ginger, Neither Crushed Nor Ground in Sri Lanka (FOB) - 2022
- Price for Spices; Ginger, Neither Crushed Nor Ground in Sri Lanka (CIF) - 2022
- Exports of Spices; Ginger, Neither Crushed Nor Ground in Sri Lanka
- Imports of Spices; Ginger, Neither Crushed Nor Ground in Sri Lanka
Price for Spices; Ginger, Neither Crushed Nor Ground in Sri Lanka (FOB) - 2022
The average export price for spices; ginger, neither crushed nor ground stood at $5,414 per ton in 2022, with an increase of 46% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 73% against the previous year. Over the period under review, the average export prices hit record highs at $7,783 per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Australia ($7,214 per ton), while the average price for exports to Belgium ($1,360 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 Belgium (+63.3%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Spices; Ginger, Neither Crushed Nor Ground in Sri Lanka (CIF) - 2022
The average import price for spices; ginger, neither crushed nor ground stood at $983 per ton in 2022, waning by -73.9% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of 55% against the previous year. The import price peaked at $3,771 per ton in 2021, and then contracted dramatically in the following year.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Myanmar ($3,000 per ton), while the price for Singapore stood at $982 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+22.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Spices; Ginger, Neither Crushed Nor Ground in Sri Lanka
In 2022, shipments abroad of spices; ginger, neither crushed nor ground decreased by -15.3% to 63 tons, falling for the second consecutive year after two years of growth. Over the period under review, exports, however, continue to indicate a significant increase. The growth pace was the most rapid in 2020 with an increase of 264% against the previous year. As a result, the exports reached the peak of 95 tons. From 2021 to 2022, the growth of the exports of failed to regain momentum.
In value terms, exports of spices; ginger, neither crushed nor ground skyrocketed to $343K in 2022. Overall, total exports indicated significant growth from 2019 to 2022: its value increased at an average annual rate of +26.7% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +103.2% against 2019 indices. The growth pace was the most rapid in 2020 when exports increased by 89%. The exports peaked in 2022 and are likely to see gradual growth in the near future.
| Export of Spices; Ginger, Neither Crushed Nor Ground in Sri Lanka (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 1.1 | 4.6 | 0.9 | 110 | 364.2% |
| India | 1.0 | 2.8 | 3.5 | 54.7 | 279.6% |
| Australia | 4.1 | 5.2 | 6.6 | 50.1 | 130.3% |
| France | 4.1 | 2.6 | 12.7 | 30.3 | 94.8% |
| Germany | 135 | 253 | 215 | 13.4 | -53.7% |
| Saudi Arabia | 2.5 | 2.6 | 1.0 | 11.6 | 66.8% |
| Belgium | N/A | N/A | 3.3 | 5.4 | 63.6% |
| Qatar | 1.4 | 6.3 | 0.7 | 0.3 | -40.2% |
| Iran | N/A | 3.7 | N/A | N/A | 0% |
| Others | 19.3 | 39.9 | 33.1 | 67.7 | 51.9% |
| Total | 169 | 320 | 277 | 343 | 26.6% |
Top Export Markets for Spices; Ginger, Neither Crushed Nor Ground from Sri Lanka in 2022:
- United States (17.3 tons)
- India (7.9 tons)
- Saudi Arabia (7.8 tons)
- Australia (6.9 tons)
- France (4.9 tons)
- Germany (4.2 tons)
- Belgium (4.0 tons)
- Qatar (0.1 tons)
Imports of Spices; Ginger, Neither Crushed Nor Ground in Sri Lanka
In 2022, imports of spices; ginger, neither crushed nor ground into Sri Lanka dropped rapidly to 2.1 tons, waning by -98.8% against 2021 figures. In general, imports continue to indicate a sharp reduction. The smallest decline of -10.3% was in 2021.
In value terms, imports of spices; ginger, neither crushed nor ground shrank remarkably to $2.1K in 2022. Over the period under review, imports saw a precipitous decrease. The growth pace was the most rapid in 2021 when imports increased by 3.7%.
| Import of Spices; Ginger, Neither Crushed Nor Ground in Sri Lanka (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Singapore | 45.1 | 30.4 | 38.2 | 2.1 | -64.0% |
| Thailand | 245 | N/A | N/A | N/A | 0% |
| China | 1,204 | 528 | 559 | N/A | -31.9% |
| India | 87.5 | 30.6 | 6.5 | N/A | -72.7% |
| United Arab Emirates | 32.1 | 23.8 | 33.1 | N/A | 1.5% |
| Myanmar | 87.3 | 45.1 | 43.6 | N/A | -29.3% |
| Others | 24.6 | 5.6 | 8.2 | N/A | -42.3% |
| Total | 1,726 | 664 | 688 | 2.1 | -89.3% |
Top Suppliers of Spices; Ginger, Neither Crushed Nor Ground to Sri Lanka in 2022:
- Singapore (2110.0 kg)
- Myanmar (1.0 kg)
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