Price for Spices; Ginger, Crushed or Ground in Japan - 2023
Contents:
- Price for Spices; Ginger, Crushed or Ground in Japan (CIF) - 2023
- Price for Spices; Ginger, Crushed or Ground in Japan (FOB) - 2022
- Imports of Spices; Ginger, Crushed or Ground in Japan
- Exports of Spices; Ginger, Crushed or Ground in Japan
Price for Spices; Ginger, Crushed or Ground in Japan (CIF) - 2023
In July 2023, the average import price for spices; ginger, crushed or ground amounted to $2,838 per ton, growing by 3.8% against the previous month. Overall, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in October 2022 an increase of 20% month-to-month. The import price peaked at $3,024 per ton in May 2023; however, from June 2023 to July 2023, import prices stood at a somewhat lower figure.
Average prices varied noticeably amongst the major supplying countries. In July 2023, the country with the highest price was Taiwan (Chinese) ($3,420 per ton), while the price for China amounted to $2,800 per ton.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+0.6%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Spices; Ginger, Crushed or Ground in Japan (FOB) - 2022
In 2022, the average export price for spices; ginger, crushed or ground amounted to $8,970 per ton, falling by -44.7% against the previous year. In general, the export price saw a slight slump. The growth pace was the most rapid in 2019 an increase of 32% against the previous year. Over the period under review, the average export prices attained the peak figure at $16,217 per ton in 2021, and then dropped significantly in the following year.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Thailand ($55,086 per ton), while the average price for exports to Vietnam ($4,956 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 Taiwan (Chinese) (+5.0%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Spices; Ginger, Crushed or Ground in Japan
In 2022, spices; ginger, crushed or ground imports into Japan soared to 7.4K tons, growing by 21% on the previous year's figure. The total import volume increased at an average annual rate of +9.2% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, spices; ginger, crushed or ground imports totaled $21M in 2022. The total import value increased at an average annual rate of +12.1% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 17% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.
| Import of Spices; Ginger, Crushed or Ground in Japan (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 13.9 | 14.8 | 18.0 | 20.1 | 13.1% |
| India | 0.1 | 0.1 | 0.1 | 0.5 | 71.0% |
| Taiwan (Chinese) | 0.4 | 1.2 | 0.7 | 0.4 | 0.0% |
| Others | 0.7 | 0.5 | 0.5 | 0.4 | -17.0% |
| Total | 15.1 | 16.6 | 19.4 | 21.3 | 12.2% |
Top Suppliers of Spices; Ginger, Crushed or Ground to Japan in 2022:
- China (7.1K tons)
- India (0.1K tons)
- Taiwan (Chinese) (0.1K tons)
Exports of Spices; Ginger, Crushed or Ground in Japan
In 2022, shipments abroad of spices; ginger, crushed or ground was finally on the rise to reach 21 tons after two years of decline. Over the period under review, exports showed a mild expansion. 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 declined dramatically to $187K in 2022. Overall, exports, however, recorded a abrupt descent. The most prominent rate of growth was recorded in 2021 when exports increased by 4.3%.
| Export of Spices; Ginger, Crushed or Ground in Japan (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Hong Kong SAR | 123 | 132 | 135 | 88.1 | -10.5% |
| United States | 38.1 | 29.5 | 15.5 | 52.4 | 11.2% |
| Thailand | 26.5 | 21.8 | 34.8 | 17.6 | -12.8% |
| Taiwan (Chinese) | N/A | N/A | 7.5 | 8.7 | 16.0% |
| Vietnam | 21.8 | N/A | 2.1 | 8.4 | -27.2% |
| Others | 61.8 | 50.8 | 49.3 | 11.6 | -42.7% |
| Total | 272 | 234 | 244 | 187 | -11.7% |
Top Export Markets for Spices; Ginger, Crushed or Ground from Japan in 2022:
- Hong Kong SAR (9.8 tons)
- United States (8.5 tons)
- Vietnam (1.7 tons)
- Taiwan (Chinese) (0.4 tons)
- Thailand (0.3 tons)
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