Spices Except Pepper or Ginger Prices in China
China Spices Except Pepper or Ginger Import Price in September 2022
In September 2022, the spices except pepper or ginger price amounted to $1,324 per ton (CIF, China), reducing by -10.8% against the previous month. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in March 2022 an increase of 60% month-to-month. The import price peaked at $1,485 per ton in August 2022, and then fell in the following month.
There were significant differences in the average prices amongst the major supplying countries. In September 2022, the country with the highest price was Vietnam ($1,762 per ton), while the price for Myanmar ($557 per ton) was amongst the lowest.
From January 2022 to September 2022, the most notable rate of growth in terms of prices was attained by Georgia (+1.8%), while the prices for the other major suppliers experienced more modest paces of growth.
China Spices Except Pepper or Ginger Imports
In September 2022, overseas purchases of spices except pepper or ginger were finally on the rise to reach 2.9K tons for the first time since April 2022, thus ending a four-month declining trend. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in April 2022 with an increase of 78% month-to-month. As a result, imports reached the peak of 6.1K tons. From May 2022 to September 2022, the growth of imports failed to regain momentum.
In value terms, spices except pepper or ginger imports totaled $3.9M (IndexBox estimates) in September 2022. Over the period under review, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in March 2022 when imports increased by 108% against the previous month. Imports peaked at 7.6K tons in April 2022; however, from May 2022 to September 2022, imports stood at a somewhat lower figure.
China Spices Except Pepper or Ginger Imports by Country
In September 2022, Myanmar (2K tons) constituted the largest supplier of spices except pepper or ginger to China, accounting for a 68% share of total imports. Moreover, spices except pepper or ginger imports from Myanmar exceeded the figures recorded by the second-largest supplier, India (618 tons), threefold. Georgia (135 tons) ranked third in terms of total imports with a 4.6% share.
From January 2022 to September 2022, the average monthly rate of growth in terms of volume from Myanmar totaled +6.0%. The remaining supplying countries recorded the following average monthly rates of imports growth: India (+4.2% per month) and Georgia (-20.5% per month).
In value terms, Myanmar ($1.1M), India ($721K) and Georgia ($160K) appeared to be the largest spices except pepper or ginger suppliers to China, together accounting for 51% of total imports.
Among the main suppliers, India, with a CAGR of +5.6%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.
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