Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Serbia - 2023
Contents:
- Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Serbia (CIF) - 2023
- Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Serbia (FOB) - 2022
- Imports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Serbia
- Exports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Serbia
Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Serbia (CIF) - 2023
The average import price for ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses stood at $4,583 per ton in December 2023, shrinking by -9.7% against the previous month. Over the period under review, import price indicated a mild increase from December 2022 to December 2023: its price increased at an average monthly rate of +1.3% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on December 2023 figures, import price for ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses decreased by -26.1% against July 2023 indices. The most prominent rate of growth was recorded in July 2023 an increase of 71% m-o-m. As a result, import price attained the peak level of $6,204 per ton. From August 2023 to December 2023, the average import prices remained at a lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Germany ($25,255 per ton), while the price for India ($1,896 per ton) was amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by Peru (+4.4%), 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 Serbia (FOB) - 2022
In 2022, the average export price for ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses amounted to $6,269 per ton, falling by -5.2% against the previous year. Over the last decade, it increased at an average annual rate of +1.5%. The pace of growth appeared the most rapid in 2020 when the average export price increased by 32% against the previous year. As a result, the export price attained the peak level of $7,864 per ton. From 2021 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 Montenegro ($13,026 per ton), while the average price for exports to Germany ($1,391 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 the Netherlands (+3.6%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Serbia
In 2022, overseas purchases of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses decreased by -5.6% to 815 tons, falling for the second year in a row after two years of growth. The total import volume increased at an average annual rate of +9.1% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 with an increase of 50%. As a result, imports reached the peak of 942 tons. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.
In value terms, imports of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses declined to $2.8M in 2022. Over the period under review, total imports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +17.6% 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 decreased by -15.4% against 2020 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 92% against the previous year. As a result, imports reached the peak of $3.3M. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.
| Import of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Serbia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 862 | 1,898 | 1,596 | 1,090 | 8.1% |
| Turkey | 159 | 247 | 280 | 295 | 22.9% |
| Brazil | 119 | 147 | 218 | 275 | 32.2% |
| Italy | 30.7 | 3.0 | 159 | 184 | 81.6% |
| India | 158 | 244 | 183 | 184 | 5.2% |
| Peru | 15.4 | 241 | 221 | 142 | 109.7% |
| Thailand | 6.5 | 0.3 | 0.6 | 41.5 | 85.5% |
| Others | 341 | 477 | 582 | 543 | 16.8% |
| Total | 1,692 | 3,257 | 3,240 | 2,755 | 17.6% |
Top Suppliers of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices to Serbia in 2022:
- China (381.5 tons)
- Brazil (129.1 tons)
- India (80.4 tons)
- Turkey (65.5 tons)
- Peru (55.0 tons)
- Thailand (26.2 tons)
- Italy (19.2 tons)
Exports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Serbia
Exports of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses from Serbia expanded to 70 tons in 2022, growing by 4.8% compared with the previous year's figure. Over the period under review, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by 28% against the previous year.
In value terms, exports of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses fell modestly to $439K in 2022. The total export value increased at an average annual rate of +1.3% from 2019 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when exports increased by 7.3%. As a result, the exports attained the peak of $442K, leveling off in the following year.
| Export of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Serbia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Bosnia and Herzegovina | 186 | 234 | 236 | 219 | 5.6% |
| Montenegro | 114 | 115 | 141 | 138 | 6.6% |
| Germany | N/A | N/A | 7.4 | 31.9 | 331.1% |
| North Macedonia | 33.6 | 30.7 | 29.3 | 21.7 | -13.6% |
| Croatia | 11.6 | 8.4 | 9.2 | 14.7 | 8.2% |
| Australia | 2.2 | 1.4 | 3.2 | 1.6 | -10.1% |
| Netherlands | N/A | 12.1 | 7.7 | 0.4 | -81.8% |
| Switzerland | 32.0 | N/A | 0.1 | 0.1 | -85.4% |
| Sweden | 36.7 | N/A | N/A | N/A | 0% |
| Others | 6.3 | 10.3 | 8.3 | 12.1 | 24.3% |
| Total | 422 | 412 | 442 | 439 | 1.3% |
Top Export Markets for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices from Serbia in 2022:
- Bosnia and Herzegovina (27.8 tons)
- Germany (22.9 tons)
- Montenegro (10.6 tons)
- North Macedonia (2.5 tons)
- Croatia (2.5 tons)
- Australia (0.7 tons)
- Netherlands (0.1 tons)
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