Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Hungary - 2023
Contents:
- Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Hungary (CIF) - 2023
- Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Hungary (FOB) - 2022
- Imports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Hungary
- Exports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Hungary
Price for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Hungary (CIF) - 2023
In November 2023, the average import price for ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses amounted to $6,603 per ton, growing by 3.6% against the previous month. In general, import price indicated a perceptible expansion from November 2022 to November 2023: its price increased at an average monthly rate of +4.6% 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 decreased by -32.2% against September 2023 indices. The pace of growth was the most pronounced in September 2023 when the average import price increased by 64% against the previous month. As a result, import price attained the peak level of $9,732 per ton. From October 2023 to November 2023, the average import prices remained at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In November 2023, the country with the highest price was Austria ($8,312 per ton), while the price for Egypt ($1,844 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 Turkey (+9.5%), 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 Hungary (FOB) - 2022
The average export price for ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses stood at $16,980 per ton in 2022, rising by 1.6% against the previous year. In general, the export price recorded a strong increase. The most prominent rate of growth was recorded in 2015 when the average export price increased by 92% against the previous year. 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 foreign markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($73,192 per ton), while the average price for exports to the UK ($8,202 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 (+26.5%), 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 Hungary
Imports of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses into Hungary soared to 3.6K tons in 2022, jumping by 24% compared with the previous year. Overall, imports saw significant growth. The most prominent rate of growth was recorded in 2020 when imports increased by 105%. Imports peaked in 2022 and are expected to retain growth in years to come.
In value terms, imports of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses skyrocketed to $12M in 2022. The total import value increased at an average annual rate of +5.4% over the period from 2019 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Hungary (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 2.5 | 3.2 | 2.3 | 3.7 | 14.0% |
| Germany | 1.5 | 1.6 | 2.5 | 2.0 | 10.1% |
| Austria | 1.8 | 1.8 | 1.9 | 1.7 | -1.9% |
| Turkey | 0.5 | 0.3 | 0.4 | 0.7 | 11.9% |
| Poland | 0.6 | 0.8 | 1.0 | 0.7 | 5.3% |
| Spain | N/A | 0.2 | 0.1 | 0.2 | 0.0% |
| Egypt | N/A | N/A | 0.1 | 0.1 | 0.0% |
| Others | 3.5 | 2.1 | 1.9 | 3.1 | -4.0% |
| Total | 10.4 | 10.0 | 10.1 | 12.2 | 5.5% |
Top Suppliers of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices to Hungary in 2022:
- Netherlands (1573.5 tons)
- Germany (837.8 tons)
- Turkey (468.9 tons)
- Poland (264.0 tons)
- Austria (125.2 tons)
- Spain (69.3 tons)
- Egypt (66.3 tons)
Exports of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Hungary
In 2022, overseas shipments of ginger, saffron, tumeric (curcuma), thyme, bay leaves, curry and other spiceses decreased by -9.3% to 601 tons, falling for the second consecutive year after two years of growth. Overall, exports, however, recorded a resilient increase. The pace of growth was the most pronounced in 2020 with an increase of 141%. As a result, the exports reached the peak of 904 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 fell to $10M in 2022. In general, total exports indicated a significant expansion from 2019 to 2022: its value increased at an average annual rate of +20.1% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -13.4% against 2020 indices. The pace of growth appeared the most rapid in 2020 with an increase of 99.9%. As a result, the exports attained the peak of $12M. From 2021 to 2022, the growth of the exports of failed to regain momentum.
| Export of Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices in Hungary (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 1.2 | 6.0 | 5.4 | 5.2 | 63.0% |
| Austria | 3.2 | 3.0 | 4.3 | 2.8 | -4.4% |
| Romania | 0.4 | 1.1 | 0.7 | 0.7 | 20.5% |
| Others | 1.2 | 1.7 | 0.7 | 1.5 | 7.7% |
| Total | 5.9 | 11.8 | 11.1 | 10.2 | 20.0% |
Top Export Markets for Ginger, Saffron, Tumeric (Curcuma), Thyme, Bay Leaves, Curry and Other Spices from Hungary in 2022:
- Germany (473.7 tons)
- Austria (56.0 tons)
- Romania (27.0 tons)
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