Spices; Turmeric (Curcuma) Price in Pakistan - 2023
Contents:
- Spices; Turmeric (Curcuma) Price in Pakistan (FOB) - 2022
- Spices; Turmeric (Curcuma) Price in Pakistan (CIF) - 2022
- Spices; Turmeric (Curcuma) Exports in Pakistan
- Spices; Turmeric (Curcuma) Imports in Pakistan
Spices; Turmeric (Curcuma) Price in Pakistan (FOB) - 2022
The average spices; turmeric (curcuma) export price stood at $2,209 per ton in 2021, approximately equating the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the average export price increased by 41%. Over the period under review, the average export prices attained the peak figure at $3,281 per ton in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.
There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($3,577 per ton), while the average price for exports to Uzbekistan ($340 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 Afghanistan (+13.6%), while the prices for the other major destinations experienced more modest paces of growth.
Spices; Turmeric (Curcuma) Price in Pakistan (CIF) - 2022
The average spices; turmeric (curcuma) import price stood at $750 per ton in 2021, dropping by -23% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average import price increased by 111% against the previous year. As a result, import price reached the peak level of $1,026 per ton. From 2017 to 2021, the average import prices remained at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Ethiopia ($1,271 per ton), while the price for Saudi Arabia ($385 per ton) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ethiopia (+15.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Spices; Turmeric (Curcuma) Exports in Pakistan
In 2022, the amount of spices; turmeric (curcuma) exported from Pakistan surged to 463 tons, increasing by 20% compared with 2021. Overall, exports posted significant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 134%. The exports peaked in 2022 and are likely to continue growth in years to come.
In value terms, spices; turmeric (curcuma) exports surged to $1M in 2022. In general, exports posted a significant expansion. The growth pace was the most rapid in 2020 when exports increased by 58%. The exports peaked in 2022 and are expected to retain growth in the near future.
| Export of Spices; Turmeric (Curcuma) in Pakistan (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | CAGR, 2019-2021 | |
| Saudi Arabia | 154 | 246 | 374 | 55.8% | |
| United Arab Emirates | 19.9 | 6.5 | 166 | 188.8% | |
| South Korea | 6.8 | 23.3 | 65.8 | 211.1% | |
| Kuwait | 47.7 | 43.0 | 50.0 | 2.4% | |
| Afghanistan | 29.5 | 107 | 41.0 | 17.9% | |
| United States | 24.5 | 30.8 | 31.5 | 13.4% | |
| Canada | 8.2 | 28.9 | 20.4 | 57.7% | |
| Sri Lanka | N/A | N/A | 5.1 | 0% | |
| Uzbekistan | N/A | N/A | 3.4 | 0% | |
| Others | 91.7 | 121 | 95.0 | 1.8% | |
| Total | 382 | 606 | 852 | 49.3% | |
Top Export Markets for Spices; Turmeric (Curcuma) from Pakistan in 2022:
- United Arab Emirates (201.5 tons)
- Saudi Arabia (121.3 tons)
- South Korea (19.8 tons)
- Kuwait (15.9 tons)
- Afghanistan (14.0 tons)
- Sri Lanka (10.5 tons)
- Uzbekistan (10.0 tons)
- United States (8.8 tons)
- Canada (7.4 tons)
Spices; Turmeric (Curcuma) Imports in Pakistan
In 2022, overseas purchases of spices; turmeric (curcuma) were finally on the rise to reach 424 tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, faced a precipitous curtailment.
In value terms, spices; turmeric (curcuma) imports skyrocketed to $322K in 2022. In general, imports, however, faced a dramatic slump.
| Import of Spices; Turmeric (Curcuma) in Pakistan (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | CAGR, 2019-2021 | |
| Ethiopia | N/A | N/A | 27.0 | 0% | |
| Montenegro | N/A | 170 | 23.8 | -86.0% | |
| Saudi Arabia | N/A | N/A | 10.9 | 0% | |
| Vietnam | 104 | 140 | N/A | 34.6% | |
| India | 302 | N/A | N/A | 0% | |
| United Arab Emirates | 15.4 | 285 | N/A | 1750.6% | |
| Myanmar | 281 | 77.0 | N/A | -72.6% | |
| Others | 101 | -573.6 | N/A | -667.9% | |
| Total | 803 | 98.8 | 61.7 | -72.3% | |
Top Suppliers of Spices; Turmeric (Curcuma) to Pakistan in 2022:
- Montenegro (32.6 tons)
- Saudi Arabia (28.4 tons)
- Ethiopia (21.2 tons)
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