Price for Spices; Ginger, Neither Crushed Nor Ground in Panama - 2023
Contents:
- Price for Spices; Ginger, Neither Crushed Nor Ground in Panama (FOB) - 2022
- Price for Spices; Ginger, Neither Crushed Nor Ground in Panama (CIF) - 2022
- Exports of Spices; Ginger, Neither Crushed Nor Ground in Panama
- Imports of Spices; Ginger, Neither Crushed Nor Ground in Panama
Price for Spices; Ginger, Neither Crushed Nor Ground in Panama (FOB) - 2022
The average export price for spices; ginger, neither crushed nor ground stood at $1,445 per ton in 2022, picking up by 14% against the previous year. Overall, the export price, however, recorded a precipitous contraction. Over the period under review, the average export prices attained the maximum at $13,313 per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.
Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($1,900 per ton), while the average price for exports to Spain ($1,303 per ton) was amongst the lowest.
From 2014 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+8.8%), while the prices for the other major destinations experienced a decline.
Price for Spices; Ginger, Neither Crushed Nor Ground in Panama (CIF) - 2022
In 2022, the average import price for spices; ginger, neither crushed nor ground amounted to $1,287 per ton, dropping by -57% against the previous year. In general, the import price, however, continues to indicate a resilient expansion. The growth pace was the most rapid in 2018 an increase of 153% against the previous year. Over the period under review, average import prices hit record highs at $2,993 per ton in 2021, and then reduced notably in the following year.
As there is only one major supplying country, the average price level is determined by prices for China.
From 2012 to 2022, the rate of growth in terms of prices for India amounted to +47.0% per year.
Exports of Spices; Ginger, Neither Crushed Nor Ground in Panama
In 2022, approx. 77 tons of spices; ginger, neither crushed nor ground were exported from Panama; shrinking by -11.9% against the previous year's figure. In general, exports recorded a deep setback.
In value terms, exports of spices; ginger, neither crushed nor ground totaled $111K in 2022. Over the period under review, exports, however, recorded a relatively flat trend pattern. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Spices; Ginger, Neither Crushed Nor Ground in Panama (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2021 | 2022 | CAGR, 2021-2022 | ||
| Spain | 74.9 | 61.6 | -17.8% | ||
| United States | 8.0 | 29.3 | 266.3% | ||
| Belgium | 27.8 | 20.0 | -28.1% | ||
| Others | 0.1 | N/A | 0% | ||
| Total | 111 | 111 | 0.0% | ||
Top Export Markets for Spices; Ginger, Neither Crushed Nor Ground from Panama in 2022:
- Spain (47.2 tons)
- United States (15.4 tons)
- Belgium (14.0 tons)
Imports of Spices; Ginger, Neither Crushed Nor Ground in Panama
For the third year in a row, Panama recorded decline in overseas purchases of spices; ginger, neither crushed nor ground, which decreased by -97.7% to 150 kg in 2022. In general, imports continue to indicate a precipitous slump. The smallest decline of -16.1% was in 2021.
In value terms, imports of spices; ginger, neither crushed nor ground dropped rapidly to $193 in 2022. Overall, imports recorded a precipitous shrinkage. The most prominent rate of growth was recorded in 2021 when imports increased by 10%.
| Import of Spices; Ginger, Neither Crushed Nor Ground in Panama (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 0.1 | N/A | N/A | 0.2 | 26.0% |
| Belgium | 4.0 | N/A | N/A | N/A | 0% |
| Peru | 24.3 | 11.2 | 13.6 | N/A | -25.2% |
| United States | 3.0 | 0.8 | 0.2 | N/A | -74.2% |
| Costa Rica | 1.1 | 0.3 | 0.1 | N/A | -69.8% |
| Singapore | 2.9 | N/A | N/A | N/A | 0% |
| Taiwan (Chinese) | 2.2 | 2.2 | 2.0 | N/A | -4.7% |
| Brazil | 6.8 | 2.5 | 3.0 | N/A | -33.6% |
| Others | 0.5 | 0.7 | 0.5 | N/A | 0.0% |
| Total | 45.0 | 17.6 | 19.4 | 0.2 | -83.6% |
Top Suppliers of Spices; Ginger, Neither Crushed Nor Ground to Panama in 2022:
- China (150.0 kg)
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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).
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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 revenue amounted to $5.3B in 2018, jumping by 2.8% against the previous year. This figure...
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Global ginger consumption amounted to X thousand tons in 2015, picking up by +X% against the previous year level.
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Global ginger imports amounted to X thousand tons in 2015, picking up by +X% against the previous year level.
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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>
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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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In 2015, the leading ginger consuming markets were India (X%), Indonesia (X%), Nepal (X%), Nigeria (X%), and China (X%), together accounting for approximately X% of global consumption. These countries were also amongst the leading producers on the g
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From 2007 to 2015, global exports on the ginger market grew by +X% per year, amounting to X million USD in 2015. In physical terms, exports were X thousand tons in 2015, X thousand tons more than the year before.
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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.
