Price for Spices; Ginger, Crushed or Ground in Morocco - 2022
Contents:
- Price for Spices; Ginger, Crushed or Ground in Morocco (CIF) - 2022
- Price for Spices; Ginger, Crushed or Ground in Morocco (FOB) - 2022
- Imports of Spices; Ginger, Crushed or Ground in Morocco
- Exports of Spices; Ginger, Crushed or Ground in Morocco
Price for Spices; Ginger, Crushed or Ground in Morocco (CIF) - 2022
The average import price for spices; ginger, crushed or ground stood at $6,661 per ton in 2022, surging by 2.4% against the previous year. In general, the import price, however, recorded a abrupt setback. The pace of growth was the most pronounced in 2019 when the average import price increased by 44% against the previous year. The import price peaked at $11,123 per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($8,998 per ton), while the price for Spain ($4,436 per ton) was amongst the lowest.
From 2015 to 2022, the most notable rate of growth in terms of prices was attained by Spain (-3.0%), while the prices for the other major suppliers experienced a decline.
Price for Spices; Ginger, Crushed or Ground in Morocco (FOB) - 2022
In 2022, the average export price for spices; ginger, crushed or ground amounted to $4,384 per ton, approximately reflecting the previous year. Overall, the export price recorded a abrupt decline. The growth pace was the most rapid in 2019 an increase of 27% against the previous year. Over the period under review, the average export prices attained the maximum at $6,901 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 export markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($12,578 per ton), while the average price for exports to the United States ($3,054 per ton) was amongst the lowest.
From 2015 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ukraine (+24.0%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Spices; Ginger, Crushed or Ground in Morocco
In 2022, purchases abroad of spices; ginger, crushed or ground decreased by -60.3% to 4.1 tons, falling for the second consecutive year after two years of growth. Overall, imports, however, showed a prominent expansion. The most prominent rate of growth was recorded in 2020 with an increase of 234% against the previous year. As a result, imports reached the peak of 11 tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
In value terms, spices; ginger, crushed or ground imports contracted dramatically to $27K in 2022. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when imports increased by 144%.
Import of Spices; Ginger, Crushed or Ground in Morocco (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Germany | 4.0 | 11.5 | 2.1 | 17.4 | 63.2% |
United States | N/A | N/A | N/A | 6.6 | 0% |
Spain | 1.5 | 18.5 | 0.8 | 3.1 | 27.4% |
China | 13.1 | N/A | N/A | N/A | 0% |
India | 7.3 | 29.3 | 59.4 | N/A | 185.3% |
Others | 0.5 | 5.4 | 4.1 | N/A | 186.4% |
Total | 26.5 | 64.6 | 66.4 | 27.0 | 0.6% |
Top Suppliers of Spices; Ginger, Crushed or Ground to Morocco in 2022:
- Germany (1.9 tons)
- United States (1.4 tons)
- Spain (0.7 tons)
Exports of Spices; Ginger, Crushed or Ground in Morocco
In 2022, approx. 9.4 tons of spices; ginger, crushed or ground were exported from Morocco; waning by -4.3% on the year before. In general, exports, however, recorded a significant expansion. The pace of growth appeared the most rapid in 2021 when exports increased by 215% against the previous year. As a result, the exports attained the peak of 9.8 tons, and then dropped slightly in the following year.
In value terms, spices; ginger, crushed or ground exports declined to $41K in 2022. Over the period under review, exports, however, saw resilient growth. The most prominent rate of growth was recorded in 2021 with an increase of 178% against the previous year. As a result, the exports attained the peak of $44K, and then contracted in the following year.
Export of Spices; Ginger, Crushed or Ground in Morocco (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
United States | 10.9 | 13.8 | 36.5 | 23.1 | 28.4% |
Japan | N/A | N/A | N/A | 15.1 | 0% |
Iceland | 1.5 | 0.3 | N/A | 1.9 | 8.2% |
Canada | 0.8 | 0.5 | 0.5 | 1.0 | 7.7% |
Spain | N/A | N/A | 6.4 | N/A | 0% |
Ukraine | 10.9 | 0.1 | N/A | N/A | -99.1% |
Others | 1.3 | 1.0 | 0.4 | 0.1 | -57.5% |
Total | 25.5 | 15.7 | 43.7 | 41.3 | 17.4% |
Top Export Markets for Spices; Ginger, Crushed or Ground from Morocco in 2022:
- United States (7.6 tons)
- Japan (1.2 tons)
- Iceland (0.4 tons)
- Canada (0.2 tons)
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The global ginger market is forecast to reach USD 10.3 billion by 2030, growing at a CAGR of 4.7% during the forecast period (2022-2030).
In the wake of the pandemic, the ginger market has accelerated its growth as demand for foods with a reputation for immunity system health has soared to unprecedented heights. India, which almost tripled its export of ginger in 2020, may become a serious competitor to the main global supplier - China. The majority of the developed countries have increased the volume of imports, which, in the context of Covid restrictions and a shortage of container traffic, has led to an increase in prices for the product.
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The global ginger market recorded a positive trend over the period under review, growing from X thousand tons in 2007 to X thousand tons in 2015 with a CAGR +X>
The value of total imports on the global ginger market in 2015 stood at X million USD. There was an annual increase of +X% for the period from 2007 to 2015. In physical terms, imports of ginger was X thousand tons i
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The global ginger production was estimated at X thousand tons in 2015, which was X thousand tons (or X%) more than in 2014.