Price for Spices; Ginger, Crushed or Ground in Vietnam - 2021
Contents:
- Price for Spices; Ginger, Crushed or Ground in Vietnam (FOB) - 2022
- Price for Spices; Ginger, Crushed or Ground in Vietnam (CIF) - 2022
- Exports of Spices; Ginger, Crushed or Ground in Vietnam
- Imports of Spices; Ginger, Crushed or Ground in Vietnam
Price for Spices; Ginger, Crushed or Ground in Vietnam (FOB) - 2022
In 2022, the average export price for spices; ginger, crushed or ground amounted to $3,858 per ton, waning by -12.1% against the previous year. In general, the export price continues to indicate a deep contraction. The pace of growth appeared the most rapid in 2021 an increase of 37%. The export price peaked at $7,082 per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($5,516 per ton), while the average price for exports to France ($2,745 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 United States (+3.1%), while the prices for the other major destinations experienced mixed trend patterns.
Price for Spices; Ginger, Crushed or Ground in Vietnam (CIF) - 2022
The average import price for spices; ginger, crushed or ground stood at $3,708 per ton in 2022, with a decrease of -9.8% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average import price increased by 25%. The import price peaked at $4,111 per ton in 2021, and then dropped 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 Thailand ($5,904 per ton), while the price for India ($2,719 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+8.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Spices; Ginger, Crushed or Ground in Vietnam
In 2022, after three years of growth, there was significant decline in shipments abroad of spices; ginger, crushed or ground, when their volume decreased by -9% to 1.3K tons. In general, total exports indicated buoyant growth from 2019 to 2022: its volume increased at an average annual rate of +11.9% 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 +40.0% against 2019 indices. The pace of growth appeared the most rapid in 2020 when exports increased by 26%.
In value terms, spices; ginger, crushed or ground exports fell remarkably to $4.9M in 2022. Over the period under review, exports, however, saw significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 67% against the previous year. As a result, the exports attained the peak of $6.2M, and then reduced sharply in the following year.
| Export of Spices; Ginger, Crushed or Ground in Vietnam (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Kingdom | 237 | 395 | 851 | 791 | 49.4% |
| United States | 353 | 1,000 | 664 | 749 | 28.5% |
| Netherlands | 1,282 | 1,139 | 1,692 | 375 | -33.6% |
| Germany | 17.3 | 46.6 | 258 | 234 | 138.3% |
| Japan | 132 | 178 | 222 | 169 | 8.6% |
| Philippines | 78.0 | 114 | 98.9 | 81.1 | 1.3% |
| Sweden | 47.0 | 114 | 160 | 76.0 | 17.4% |
| Estonia | 41.7 | 56.8 | 95.3 | 75.3 | 21.8% |
| China | 227 | 180 | 158 | 71.3 | -32.0% |
| Thailand | 47.3 | 62.5 | 85.3 | 65.0 | 11.2% |
| France | 55.0 | 105 | 36.2 | 55.9 | 0.5% |
| Russia | 22.5 | 15.3 | 64.0 | 48.7 | 29.4% |
| Canada | 110 | 59.2 | 111 | 34.6 | -32.0% |
| Others | 216 | 244 | 1,691 | 2,122 | 114.2% |
| Total | 2,867 | 3,710 | 6,185 | 4,948 | 20.0% |
Top Export Markets for Spices; Ginger, Crushed or Ground from Vietnam in 2022:
- United States (218.5 tons)
- United Kingdom (215.0 tons)
- Netherlands (97.5 tons)
- Germany (52.7 tons)
- Japan (45.7 tons)
- Philippines (20.4 tons)
- France (20.4 tons)
- Estonia (18.3 tons)
- Sweden (17.7 tons)
- Thailand (17.6 tons)
- Russia (13.2 tons)
- China (12.9 tons)
- Canada (8.3 tons)
Imports of Spices; Ginger, Crushed or Ground in Vietnam
In 2022, after two years of decline, there was significant growth in overseas purchases of spices; ginger, crushed or ground, when their volume increased by 55% to 27 tons. In general, imports, however, recorded a abrupt shrinkage.
In value terms, spices; ginger, crushed or ground imports surged to $99K in 2022. Over the period under review, imports, however, faced a abrupt slump.
| Import of Spices; Ginger, Crushed or Ground in Vietnam (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 39.9 | 34.9 | 10.8 | 29.0 | -10.1% |
| Nigeria | 21.0 | 5.7 | 5.8 | 16.0 | -8.7% |
| India | 9.2 | 10.8 | 3.7 | 10.3 | 3.8% |
| Thailand | 9.1 | 21.0 | 1.8 | 10.1 | 3.5% |
| Netherlands | 29.5 | 11.2 | 3.1 | 7.6 | -36.4% |
| China | 3.7 | 12.1 | 1.4 | 5.8 | 16.2% |
| Malaysia | 4.2 | 4.9 | 1.8 | 4.9 | 5.3% |
| Japan | 33.1 | 8.2 | 4.4 | 3.1 | -54.6% |
| Peru | N/A | N/A | 12.5 | N/A | 0% |
| Myanmar | N/A | 7.4 | 22.7 | N/A | 206.8% |
| Others | 4.2 | 10.4 | 2.6 | 11.7 | 40.7% |
| Total | 154 | 126 | 70.7 | 98.6 | -13.8% |
Top Suppliers of Spices; Ginger, Crushed or Ground to Vietnam in 2022:
- United States (8.1 tons)
- Nigeria (5.2 tons)
- India (3.8 tons)
- China (1.8 tons)
- Netherlands (1.7 tons)
- Thailand (1.7 tons)
- Malaysia (1.3 tons)
- Japan (0.7 tons)
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