Spices; Turmeric (Curcuma) Price in Guatemala - 2023
Contents:
- Spices; Turmeric (Curcuma) Price in Guatemala (CIF) - 2022
- Spices; Turmeric (Curcuma) Price in Guatemala (FOB) - 2022
- Spices; Turmeric (Curcuma) Imports in Guatemala
- Spices; Turmeric (Curcuma) Exports in Guatemala
Spices; Turmeric (Curcuma) Price in Guatemala (CIF) - 2022
In 2022, the average spices; turmeric (curcuma) import price amounted to $2,492 per ton, surging by 15% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the average import price increased by 29%. As a result, import price attained the peak level of $3,280 per ton. From 2016 to 2022, the average import prices remained at a somewhat lower figure.
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 the United States ($6,773 per ton), while the price for India ($2,274 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by El Salvador (+2.8%), while the prices for the other major suppliers experienced a decline.
Spices; Turmeric (Curcuma) Price in Guatemala (FOB) - 2022
The average spices; turmeric (curcuma) export price stood at $4,144 per ton in 2022, surging by 8.1% against the previous year. In general, export price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, spices; turmeric (curcuma) export price increased by +42.9% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 32%. The export price peaked in 2022 and is expected to retain growth in the immediate term.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($5,666 per ton), while the average price for exports to Honduras ($1,703 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 (+9.3%), while the prices for the other major destinations experienced more modest paces of growth.
Spices; Turmeric (Curcuma) Imports in Guatemala
In 2022, the amount of spices; turmeric (curcuma) imported into Guatemala contracted significantly to 228 tons, declining by -20.3% against the previous year's figure. Overall, total imports indicated a tangible increase from 2019 to 2022: its volume increased at an average annual rate of +2.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +34.9% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 69% against the previous year. As a result, imports reached the peak of 286 tons, and then contracted dramatically in the following year.
In value terms, spices; turmeric (curcuma) imports reduced to $568K in 2022. Over the period under review, total imports indicated a slight expansion from 2019 to 2022: its value increased at an average annual rate of +1.4% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +66.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 81% against the previous year. As a result, imports reached the peak of $619K, and then fell in the following year.
| Import of Spices; Turmeric (Curcuma) in Guatemala (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 250 | 204 | 451 | 407 | 17.6% |
| El Salvador | 123 | 96.4 | 128 | 128 | 1.3% |
| United States | 20.5 | 35.3 | 36.3 | 28.0 | 11.0% |
| South Korea | 104 | N/A | N/A | N/A | 0% |
| Others | 47.5 | 5.3 | 4.2 | 4.3 | -55.1% |
| Total | 544 | 341 | 619 | 568 | 1.4% |
Top Suppliers of Spices; Turmeric (Curcuma) to Guatemala in 2022:
- India (179.1 tons)
- El Salvador (44.1 tons)
- United States (4.1 tons)
Spices; Turmeric (Curcuma) Exports in Guatemala
In 2022, the amount of spices; turmeric (curcuma) exported from Guatemala fell markedly to 50 tons, which is down by -41.1% on the previous year. In general, exports saw a sharp descent. The most prominent rate of growth was recorded in 2021 when exports increased by 86% against the previous year.
In value terms, spices; turmeric (curcuma) exports declined remarkably to $208K in 2022. Overall, exports faced a abrupt contraction. The most prominent rate of growth was recorded in 2021 when exports increased by 146% against the previous year.
| Export of Spices; Turmeric (Curcuma) in Guatemala (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 119 | N/A | 169 | 114 | -1.4% |
| Dominican Republic | 52.2 | 52.2 | 30.0 | 51.0 | -0.8% |
| Costa Rica | 8.2 | 12.9 | 18.6 | 23.7 | 42.4% |
| El Salvador | 0.2 | N/A | 19.7 | 13.1 | 303.1% |
| Nicaragua | 0.7 | 0.8 | 0.9 | 3.5 | 71.0% |
| Honduras | 0.2 | 0.7 | 0.6 | 2.2 | 122.4% |
| Ecuador | 155 | 21.6 | 71.4 | N/A | -32.1% |
| Colombia | N/A | 44.5 | 15.8 | N/A | -64.5% |
| Others | N/A | N/A | 0.5 | N/A | 0% |
| Total | 336 | 133 | 326 | 208 | -14.8% |
Top Export Markets for Spices; Turmeric (Curcuma) from Guatemala in 2022:
- United States (20.1 tons)
- Dominican Republic (15.5 tons)
- Costa Rica (8.2 tons)
- El Salvador (3.4 tons)
- Nicaragua (1.5 tons)
- Honduras (1.3 tons)
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