Spices; Turmeric (Curcuma) Price in Morocco - 2022
Contents:
- Spices; Turmeric (Curcuma) Price in Morocco (CIF) - 2022
- Spices; Turmeric (Curcuma) Price in Morocco (FOB) - 2022
- Spices; Turmeric (Curcuma) Imports in Morocco
- Spices; Turmeric (Curcuma) Exports in Morocco
Spices; Turmeric (Curcuma) Price in Morocco (CIF) - 2022
The average spices; turmeric (curcuma) import price stood at $1,242 per ton in December 2022, declining by -8.7% against the previous month. Over the period under review, the import price saw a slight decrease. The most prominent rate of growth was recorded in March 2022 when the average import price increased by 7% against the previous month. Over the period under review, average import prices reached the maximum at $1,557 per ton in August 2022; however, from September 2022 to December 2022, import prices remained at a lower figure.
As there is only one major supplying country, the average price level is determined by prices for India.
From December 2021 to December 2022, the rate of growth in terms of prices for India amounted to -1.2% per month.
Spices; Turmeric (Curcuma) Price in Morocco (FOB) - 2022
In 2022, the average spices; turmeric (curcuma) export price amounted to $2,132 per ton, dropping by -27.1% against the previous year. Over the period under review, the export price faced a sharp slump. The pace of growth appeared the most rapid in 2017 an increase of 678%. The export price peaked at $37,875 per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.
There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Senegal ($4,239 per ton), while the average price for exports to Spain ($1,552 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 Senegal (-7.0%), while the prices for the other major destinations experienced a decline.
Spices; Turmeric (Curcuma) Imports in Morocco
In 2022, imports of spices; turmeric (curcuma) into Morocco skyrocketed to 11K tons, picking up by 29% compared with the previous year's figure. The total import volume increased at an average annual rate of +9.4% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, spices; turmeric (curcuma) imports soared to $15M in 2022. Over the period under review, total imports indicated a strong expansion from 2019 to 2022: its value increased at an average annual rate of +18.7% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +68.6% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.
Import of Spices; Turmeric (Curcuma) in Morocco (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
India | 9.1 | 9.1 | 9.5 | 15.3 | 18.9% |
Ethiopia | 0.1 | N/A | 0.5 | 0.1 | 0.0% |
Others | N/A | N/A | N/A | 0.1 | 0% |
Total | 9.2 | 9.2 | 10.0 | 15.4 | 18.7% |
Top Suppliers of Spices; Turmeric (Curcuma) to Morocco in 2022:
- India (10.6K tons)
- Ethiopia (0.1K tons)
Spices; Turmeric (Curcuma) Exports in Morocco
In 2022, shipments abroad of spices; turmeric (curcuma) decreased by -39% to 8.7 tons, falling for the second year in a row after two years of growth. In general, exports, however, enjoyed a significant increase. The pace of growth appeared the most rapid in 2020 with an increase of 1,625% against the previous year. As a result, the exports attained the peak of 68 tons. From 2021 to 2022, the growth of the exports remained at a lower figure.
In value terms, spices; turmeric (curcuma) exports dropped notably to $19K in 2022. Over the period under review, exports, however, continue to indicate a resilient expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 673%. As a result, the exports reached the peak of $102K. From 2021 to 2022, the growth of the exports failed to regain momentum.
Export of Spices; Turmeric (Curcuma) in Morocco (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Spain | 5.4 | 11.8 | 16.2 | 10.9 | 26.4% |
Senegal | 5.1 | 3.2 | 3.2 | 4.7 | -2.7% |
United States | N/A | N/A | 1.4 | 0.7 | -50.0% |
Cabo Verde | N/A | 1.4 | 3.5 | 0.1 | -73.3% |
Belgium | N/A | 21.0 | 9.2 | N/A | -56.2% |
India | N/A | 55.4 | N/A | N/A | 0% |
Others | 2.6 | 9.2 | 8.2 | 2.2 | -5.4% |
Total | 13.2 | 102 | 41.8 | 18.6 | 12.1% |
Top Export Markets for Spices; Turmeric (Curcuma) from Morocco in 2022:
- Spain (7.0 tons)
- Senegal (1.1 tons)
- United States (0.3 tons)
- Cabo Verde (0.1 tons)
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