Spices; Turmeric (Curcuma) Price in Ghana - 2022
Contents:
- Spices; Turmeric (Curcuma) Price in Ghana (CIF) - 2022
- Spices; Turmeric (Curcuma) Price in Ghana (FOB) - 2022
- Spices; Turmeric (Curcuma) Imports in Ghana
- Spices; Turmeric (Curcuma) Exports in Ghana
Spices; Turmeric (Curcuma) Price in Ghana (CIF) - 2022
The average spices; turmeric (curcuma) import price stood at $1,976 per ton in 2022, growing by 31% against the previous year. Overall, the import price, however, recorded a mild decline. The pace of growth appeared the most rapid in 2014 when the average import price increased by 125%. The import price peaked at $4,888 per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($5,207 per ton), while the price for France ($858 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+5.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Spices; Turmeric (Curcuma) Price in Ghana (FOB) - 2022
In 2022, the average spices; turmeric (curcuma) export price amounted to $2,176 per ton, declining by -45.5% against the previous year. Overall, the export price continues to indicate a abrupt decline. The pace of growth appeared the most rapid in 2020 when the average export price increased by 28%. The export price peaked at $6,000 per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.
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 Germany ($3,187 per ton), while the average price for exports to Belgium totaled $964 per ton.
From 2015 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (-36.7%).
Spices; Turmeric (Curcuma) Imports in Ghana
After three years of growth, overseas purchases of spices; turmeric (curcuma) decreased by -51.6% to 23 tons in 2022. Over the period under review, imports, however, posted significant growth. The pace of growth was the most pronounced in 2020 when imports increased by 151% against the previous year.
In value terms, spices; turmeric (curcuma) imports declined dramatically to $46K in 2022. Overall, imports, however, showed significant growth. The pace of growth appeared the most rapid in 2020 when imports increased by 148% against the previous year.
| Import of Spices; Turmeric (Curcuma) in Ghana (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Arab Emirates | 3.6 | 9.8 | 23.6 | 18.3 | 71.9% |
| India | 0.9 | 9.3 | 11.7 | 7.6 | 103.6% |
| United States | 2.0 | 3.5 | 6.8 | 4.8 | 33.9% |
| United Kingdom | 2.7 | 4.0 | 6.9 | 4.3 | 16.8% |
| Germany | 5.5 | 9.5 | 6.4 | 3.5 | -14.0% |
| France | 0.2 | 0.3 | 0.7 | 0.5 | 35.7% |
| Niger | N/A | 0.7 | N/A | N/A | 0% |
| Others | 5.2 | 12.8 | 17.1 | 7.4 | 12.5% |
| Total | 20.1 | 49.9 | 73.2 | 46.4 | 32.2% |
Top Suppliers of Spices; Turmeric (Curcuma) to Ghana in 2022:
- United Arab Emirates (10.4 tons)
- United States (5.0 tons)
- India (3.4 tons)
- United Kingdom (1.8 tons)
- Germany (0.7 tons)
- France (0.6 tons)
Spices; Turmeric (Curcuma) Exports in Ghana
In 2022, spices; turmeric (curcuma) exports from Ghana surged to 8.6 tons, rising by 91% compared with the previous year's figure. Overall, exports continue to indicate a significant increase. The growth pace was the most rapid in 2021 with an increase of 23,621%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the near future.
In value terms, spices; turmeric (curcuma) exports rose to $19K in 2022. Over the period under review, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 16,127%. The exports peaked in 2022 and are expected to retain growth in the near future.
| Export of Spices; Turmeric (Curcuma) in Ghana (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | N/A | N/A | 6.0 | 4.2 | -30.0% |
| Belgium | N/A | N/A | N/A | 0.2 | 0% |
| Czech Republic | N/A | N/A | 2.5 | N/A | 0% |
| Others | 0.1 | 0.1 | 9.5 | 14.3 | 422.9% |
| Total | 0.1 | 0.1 | 18.0 | 18.7 | 471.8% |
Top Export Markets for Spices; Turmeric (Curcuma) from Ghana in 2022:
- Germany (1.3 tons)
- Belgium (0.2 tons)
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