Spices; Turmeric (Curcuma) Price in Serbia - 2023
Contents:
- Spices; Turmeric (Curcuma) Price in Serbia (CIF) - 2022
- Spices; Turmeric (Curcuma) Price in Serbia (FOB) - 2022
- Spices; Turmeric (Curcuma) Imports in Serbia
- Spices; Turmeric (Curcuma) Exports in Serbia
Spices; Turmeric (Curcuma) Price in Serbia (CIF) - 2022
The average spices; turmeric (curcuma) import price stood at $4,181 per ton in 2022, increasing by 7.6% against the previous year. Overall, the import price showed a measured increase. The growth pace was the most rapid in 2021 when the average import price increased by 107% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is likely to see steady growth in the near future.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($5,840 per ton), while the price for India ($2,775 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+0.5%), while the prices for the other major suppliers experienced a decline.
Spices; Turmeric (Curcuma) Price in Serbia (FOB) - 2022
In 2022, the average spices; turmeric (curcuma) export price amounted to $7,728 per ton, increasing by 4.1% against the previous year. Overall, the export price saw a temperate expansion. The pace of growth was the most pronounced in 2020 an increase of 51%. Over the period under review, the average export prices hit record highs in 2022 and is likely to see steady growth in the near future.
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 North Macedonia ($12,605 per ton), while the average price for exports to Montenegro ($6,728 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 North Macedonia (+6.2%), while the prices for the other major destinations experienced more modest paces of growth.
Spices; Turmeric (Curcuma) Imports in Serbia
In 2022, purchases abroad of spices; turmeric (curcuma) decreased by -5.2% to 73 tons, falling for the second consecutive year after two years of growth. Over the period under review, total imports indicated a resilient increase from 2019 to 2022: its volume increased at an average annual rate of +8.4% 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 decreased by -30.8% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 84% against the previous year. As a result, imports attained the peak of 105 tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
In value terms, spices; turmeric (curcuma) imports expanded modestly to $304K in 2022. In general, imports, however, showed significant growth. The most prominent rate of growth was recorded in 2021 when imports increased by 51%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.
Import of Spices; Turmeric (Curcuma) in Serbia (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Italy | N/A | N/A | 158 | 183 | 15.8% |
India | 109 | 173 | 105 | 106 | -0.9% |
Spain | 9.2 | 7.7 | 9.6 | 6.1 | -12.8% |
Others | 13.4 | 16.5 | 25.6 | 8.4 | -14.4% |
Total | 131 | 197 | 298 | 304 | 32.4% |
Top Suppliers of Spices; Turmeric (Curcuma) to Serbia in 2022:
- India (38.3 tons)
- Italy (31.4 tons)
- Spain (2.0 tons)
Spices; Turmeric (Curcuma) Exports in Serbia
After three years of growth, overseas shipments of spices; turmeric (curcuma) decreased by -18.9% to 7.9 tons in 2022. Over the period under review, exports saw a pronounced descent. The most prominent rate of growth was recorded in 2021 when exports increased by 9%. As a result, the exports reached the peak of 9.8 tons, and then reduced markedly in the following year.
In value terms, spices; turmeric (curcuma) exports declined significantly to $61K in 2022. Overall, total exports indicated a strong expansion from 2019 to 2022: its value increased at an average annual rate of +11.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 when exports increased by 55%.
Export of Spices; Turmeric (Curcuma) in Serbia (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Bosnia and Herzegovina | 27.6 | 47.2 | 46.3 | 41.1 | 14.2% |
Montenegro | 12.0 | 16.4 | 15.4 | 15.7 | 9.4% |
Croatia | 0.9 | 1.6 | 2.1 | 2.3 | 36.7% |
North Macedonia | 3.4 | 2.6 | 6.1 | 2.1 | -14.8% |
Others | 0.1 | 0.6 | 2.4 | N/A | 389.9% |
Total | 44.1 | 68.3 | 72.4 | 61.1 | 11.5% |
Top Export Markets for Spices; Turmeric (Curcuma) from Serbia in 2022:
- Bosnia and Herzegovina (5.1 tons)
- Montenegro (2.3 tons)
- Croatia (0.3 tons)
- North Macedonia (0.2 tons)
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