Spices; Turmeric (Curcuma) Price in Ethiopia - 2022
Contents:
- Spices; Turmeric (Curcuma) Price in Ethiopia (FOB) - 2022
- Spices; Turmeric (Curcuma) Price in Ethiopia (CIF) - 2022
- Spices; Turmeric (Curcuma) Exports in Ethiopia
- Spices; Turmeric (Curcuma) Imports in Ethiopia
Spices; Turmeric (Curcuma) Price in Ethiopia (FOB) - 2022
In 2022, the average spices; turmeric (curcuma) export price amounted to $692 per ton, which is down by -17.4% against the previous year. Over the period under review, the export price saw a perceptible setback. The growth pace was the most rapid in 2020 an increase of 24%. As a result, the export price reached the peak level of $1,049 per ton. From 2021 to 2022, the average export prices remained at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Turkey ($890 per ton), while the average price for exports to Iraq ($584 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 Pakistan (+0.2%), while the prices for the other major destinations experienced a decline.
Spices; Turmeric (Curcuma) Price in Ethiopia (CIF) - 2022
In 2022, the average spices; turmeric (curcuma) import price amounted to $11,568 per ton, growing by 673% against the previous year. In general, the import price saw a significant expansion. As a result, import price reached the peak level and is likely to continue growth in the immediate term.
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 Egypt ($21,559 per ton), while the price for India amounted to $1,696 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (+14.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Spices; Turmeric (Curcuma) Exports in Ethiopia
In 2022, spices; turmeric (curcuma) exports from Ethiopia fell notably to 3.7K tons, with a decrease of -26.4% on 2021. In general, exports continue to indicate a deep setback. The pace of growth appeared the most rapid in 2021 when exports increased by 159% against the previous year.
In value terms, spices; turmeric (curcuma) exports contracted rapidly to $2.6M in 2022. Over the period under review, exports continue to indicate a sharp decrease. The growth pace was the most rapid in 2021 with an increase of 107% against the previous year.
| Export of Spices; Turmeric (Curcuma) in Ethiopia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 3,827 | 1,058 | 2,411 | 1,275 | -30.7% |
| United Arab Emirates | 400 | 125 | 245 | 417 | 1.4% |
| Egypt | 339 | 194 | 359 | 196 | -16.7% |
| Iraq | 335 | 77.8 | 188 | 164 | -21.2% |
| Turkey | 42.0 | 47.9 | 96.4 | 138 | 48.7% |
| Pakistan | 22.3 | 17.6 | 78.8 | 122 | 76.2% |
| Bangladesh | 29.1 | 53.1 | 70.5 | 62.8 | 29.2% |
| Yemen | 298 | 190 | 86.1 | 46.8 | -46.0% |
| Others | 712 | 276 | 691 | 147 | -40.9% |
| Total | 6,004 | 2,040 | 4,226 | 2,568 | -24.7% |
Top Export Markets for Spices; Turmeric (Curcuma) from Ethiopia in 2022:
- India (1690.0 tons)
- United Arab Emirates (684.5 tons)
- Iraq (280.0 tons)
- Egypt (267.8 tons)
- Pakistan (198.0 tons)
- Turkey (155.1 tons)
- Bangladesh (106.0 tons)
- Yemen (79.0 tons)
Spices; Turmeric (Curcuma) Imports in Ethiopia
In 2022, supplies from abroad of spices; turmeric (curcuma) decreased by -85.7% to 6 tons for the first time since 2018, thus ending a three-year rising trend. In general, imports showed a precipitous shrinkage. The most prominent rate of growth was recorded in 2021 when imports increased by 7% against the previous year. As a result, imports attained the peak of 42 tons, and then declined remarkably in the following year.
In value terms, spices; turmeric (curcuma) imports expanded markedly to $69K in 2022. Over the period under review, total imports indicated a significant expansion from 2019 to 2022: its value increased at an average annual rate of +20.6% 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 +75.4% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 30% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.
| Import of Spices; Turmeric (Curcuma) in Ethiopia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Egypt | 2.9 | 2.8 | 5.5 | 64.2 | 180.8% |
| India | 5.8 | 0.7 | 1.1 | 5.1 | -4.2% |
| United Arab Emirates | 30.8 | 47.7 | 56.2 | N/A | 35.1% |
| Others | 0.1 | N/A | 0.1 | 0.1 | 0.0% |
| Total | 39.6 | 51.3 | 63.0 | 69.4 | 20.6% |
Top Suppliers of Spices; Turmeric (Curcuma) to Ethiopia in 2022:
- Egypt (3.0 tons)
- India (3.0 tons)
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