Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Finland - 2023

Contents:

1. Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Finland (CIF) - 2023
2. Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Finland (FOB) - 2022
3. Imports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Finland
4. Exports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Finland

Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Finland (CIF) - 2023

In November 2023, the average import price for ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses amounted to $10,480 per ton, jumping by 38% against the previous month. Over the period under review, import price indicated a buoyant increase from November 2022 to November 2023: its price increased at an average monthly rate of +5.4% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on November 2023 figures, import price for ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses increased by +37.7% against October 2023 indices. The most prominent rate of growth was recorded in February 2023 when the average import price increased by 60% month-to-month. As a result, import price attained the peak level of $10,558 per ton. From March 2023 to November 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 Sweden ($12,067 per ton), while the price for Belgium ($5,373 per ton) was amongst the lowest.

From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by the Netherlands (+8.8%), 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 Finland (FOB) - 2022

The average export price for ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses stood at $12,576 per ton in 2022, waning by -15.5% against the previous year. In general, export price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses increased by +35.0% against 2020 indices. The growth pace was the most rapid in 2013 when the average export price increased by 88% against the previous year. As a result, the export price reached the peak level of $20,769 per ton. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($44,507 per ton), while the average price for exports to Belarus ($6,893 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 Russia (+9.3%), 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 Finland

After three years of growth, overseas purchases of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses decreased by -6.1% to 1.3K tons in 2022. In general, total imports indicated a buoyant expansion from 2019 to 2022: its volume increased at an average annual rate of +14.0% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 when imports increased by 56% against the previous year.

In value terms, imports of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses declined to $7.9M in 2022. The total import value increased at an average annual rate of +7.1% from 2019 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 17% against the previous year.

Top Suppliers of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices to Finland in 2022:

1. Netherlands (490.5 tons)
2. China (124.5 tons)
3. Germany (120.6 tons)
4. India (99.4 tons)
5. Sweden (95.2 tons)
6. Austria (75.9 tons)
7. Spain (64.1 tons)
8. Denmark (46.5 tons)
9. Turkey (44.7 tons)
10. Ireland (0.1 tons)

Exports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Finland

In 2022, shipments abroad of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses decreased by -44% to 7.2 tons, falling for the second year in a row after two years of growth. Overall, exports faced a precipitous slump. The most prominent rate of growth was recorded in 2020 with an increase of 22%. As a result, the exports reached the peak of 21 tons. From 2021 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses declined sharply to $91K in 2022. In general, exports showed a sharp slump. The smallest decline of -2.4% was in 2020.

Top Export Markets for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices from Finland in 2022:

1. Estonia (4.3 tons)
2. Sweden (1.2 tons)
3. Belarus (0.9 tons)
4. Russia (0.4 tons)
5. United Kingdom (0.1 tons)

Source: IndexBox Market Intelligence Platform