Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Hong Kong SAR - 2023
Contents:
- Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Hong Kong SAR (CIF) - 2022
- Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Hong Kong SAR (FOB) - 2023
- Imports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Hong Kong SAR
- Exports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Hong Kong SAR
Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Hong Kong SAR (CIF) - 2022
The average import price for ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses stood at $4,900 per ton in 2022, shrinking by -23.1% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the average import price increased by 65% against the previous year. The import price peaked at $16,550 per ton in 2019; however, from 2020 to 2022, import prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($12,799 per ton), while the price for India ($2,915 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+6.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Hong Kong SAR (FOB) - 2023
The average export price for ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses stood at $1,768 per ton in November 2023, falling by -83.1% against the previous month. Overall, the export price faced a abrupt shrinkage. The most prominent rate of growth was recorded in January 2023 when the average export price increased by 314% m-o-m. The export price peaked at $10,476 per ton in October 2023, and then contracted sharply in the following month.
There were significant differences in the average prices for the major external markets. In November 2023, the country with the highest price was the UK ($13,376 per ton), while the average price for exports to China ($1,114 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 the UK (+5.1%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Hong Kong SAR
In 2022, purchases abroad of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses decreased by -20% to 3.1K tons for the first time since 2018, thus ending a three-year rising trend. The total import volume increased at an average annual rate of +3.7% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 18% against the previous year. As a result, imports reached the peak of 3.8K tons, and then shrank markedly in the following year.
In value terms, imports of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses declined dramatically to $15M in 2022. Over the period under review, imports continue to indicate a precipitous slump. The growth pace was the most rapid in 2020 when imports increased by 8.1% against the previous year. As a result, imports attained the peak of $49M. From 2021 to 2022, the growth of imports of failed to regain momentum.
| Import of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Thailand | 2.2 | 2.1 | 2.7 | 4.2 | 24.1% |
| India | 1.8 | 1.5 | 2.4 | 2.2 | 6.9% |
| China | 2.0 | 1.6 | 0.8 | 1.2 | -15.7% |
| Singapore | 0.7 | 0.8 | 0.9 | 0.9 | 8.7% |
| United States | 0.7 | 1.4 | 1.0 | 0.9 | 8.7% |
| Pakistan | 0.5 | 0.7 | 0.8 | 0.8 | 17.0% |
| Japan | 0.5 | 1.0 | 0.9 | 0.8 | 17.0% |
| Indonesia | 0.7 | 0.9 | 0.7 | 0.7 | 0.0% |
| Malaysia | 0.7 | 0.8 | 0.6 | 0.5 | -10.6% |
| South Africa | 0.4 | 0.6 | 0.2 | 0.3 | -9.1% |
| Iran | 31.8 | 34.2 | 8.8 | 0.1 | -85.3% |
| Others | 3.4 | 3.5 | 4.4 | 2.4 | -11.0% |
| Total | 45.4 | 49.1 | 24.3 | 15.0 | -30.9% |
Top Suppliers of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices to Hong Kong SAR in 2022:
- Thailand (994.1 tons)
- India (766.8 tons)
- Pakistan (240.3 tons)
- China (204.4 tons)
- Indonesia (145.4 tons)
- Malaysia (124.4 tons)
- Japan (122.6 tons)
- Singapore (87.2 tons)
- United States (72.4 tons)
- South Africa (69.4 tons)
- Iran (6.9 tons)
Exports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Hong Kong SAR
In 2022, the amount of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses exported from Hong Kong SAR dropped to 597 tons, which is down by -2.3% compared with 2021. In general, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by 41%. As a result, the exports reached the peak of 611 tons, and then fell in the following year.
In value terms, exports of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses fell markedly to $2.7M in 2022. Overall, exports continue to indicate a precipitous curtailment. The growth pace was the most rapid in 2021 when exports increased by 33%.
| Export of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Hong Kong SAR (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Macao SAR | 949 | 1,025 | 916 | 775 | -6.5% |
| China | 1,290 | 1,672 | 3,805 | 389 | -32.9% |
| Canada | 460 | 409 | 366 | 354 | -8.4% |
| Netherlands | 331 | 337 | 425 | 308 | -2.4% |
| United Kingdom | 398 | 314 | 306 | 307 | -8.3% |
| Australia | 85.6 | 102 | 128 | 123 | 12.8% |
| United States | 165 | 267 | 315 | 97.0 | -16.2% |
| Taiwan (Chinese) | 371 | 553 | 4.1 | 22.9 | -60.5% |
| Saudi Arabia | 4,024 | N/A | N/A | N/A | 0% |
| Others | 456 | 278 | 344 | 324 | -10.8% |
| Total | 8,530 | 4,957 | 6,608 | 2,699 | -31.9% |
Top Export Markets for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices from Hong Kong SAR in 2022:
- China (283.1 tons)
- Macao SAR (140.0 tons)
- Canada (52.0 tons)
- Netherlands (29.6 tons)
- United Kingdom (26.2 tons)
- United States (14.8 tons)
- Australia (14.3 tons)
- Taiwan (Chinese) (2.4 tons)
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