Southern Asia: Ginger Market 2024

Ginger Market Size in Southern Asia

The South Asian ginger market dropped to $X in 2022, waning by -5% against the previous year. Over the period under review, consumption, however, posted a remarkable increase. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Ginger Production in Southern Asia

In value terms, ginger production contracted to $X in 2022 estimated in export price. In general, production, however, posted a measured expansion. The most prominent rate of growth was recorded in 2016 when the production volume increased by 62%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

India (X tons) constituted the country with the largest volume of ginger production, comprising approx. 83% of total volume. Moreover, ginger production in India exceeded the figures recorded by the second-largest producer, Nepal (X tons), sevenfold. The third position in this ranking was held by Bangladesh (X tons), with a 3.4% share.

From 2012 to 2022, the average annual growth rate of volume in India amounted to +10.5%. In the other countries, the average annual rates were as follows: Nepal (+1.3% per year) and Bangladesh (+1.5% per year).

The average ginger yield contracted to X tons per ha in 2022, approximately mirroring 2021 figures. Over the period under review, the yield, however, showed strong growth. The growth pace was the most rapid in 2018 with an increase of 50% against the previous year. Over the period under review, the ginger yield attained the peak level at X tons per ha in 2019; however, from 2020 to 2022, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of ginger production in Southern Asia declined to X ha, with a decrease of -5.4% on the previous year's figure. The harvested area increased at an average annual rate of +2.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 12%. As a result, the harvested area reached the peak level of X ha, and then contracted in the following year.

Ginger Exports

Exports in Southern Asia

In 2022, overseas shipments of ginger decreased by -51% to X tons for the first time since 2018, thus ending a three-year rising trend. In general, exports, however, posted a remarkable increase. The pace of growth appeared the most rapid in 2020 with an increase of 161% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2021, and then declined remarkably in the following year.

In value terms, ginger exports contracted dramatically to $X in 2022. Overall, exports, however, posted a moderate expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 100%. The level of export peaked at $X in 2021, and then declined sharply in the following year.

Exports by Country

India prevails in exports structure, accounting for X tons, which was approx. 95% of total exports in 2022. Nepal (X tons) followed a long way behind the leaders.

India was also the fastest-growing in terms of the ginger exports, with a CAGR of +9.5% from 2012 to 2022. Nepal (-2.2%) illustrated a downward trend over the same period. India (+7.7 p.p.) significantly strengthened its position in terms of the total exports, while Nepal saw its share reduced by -7.3% from 2012 to 2022, respectively.

In value terms, India ($X) remains the largest ginger supplier in Southern Asia, comprising 84% of total exports. The second position in the ranking was held by Nepal ($X), with a 13% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in India stood at +4.6%.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2022, picking up by 22% against the previous year. Overall, the export price, however, showed a noticeable setback. The growth pace was the most rapid in 2015 when the export price increased by 41% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Nepal ($X per ton), while India amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nepal (+0.2%).

Ginger Imports

Imports in Southern Asia

In 2022, overseas purchases of ginger decreased by -8.7% to X tons for the first time since 2016, thus ending a five-year rising trend. Total imports indicated noticeable growth from 2012 to 2022: its volume increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2019 when imports increased by 23%. Over the period under review, imports hit record highs at X tons in 2021, and then contracted in the following year.

In value terms, ginger imports fell remarkably to $X in 2022. Overall, imports, however, posted a temperate expansion. The most prominent rate of growth was recorded in 2013 with an increase of 44% against the previous year. Over the period under review, imports attained the maximum at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

Pakistan (X tons) and Bangladesh (X tons) represented the key importers of ginger in 2022, finishing at approx. 45% and 43% of total imports, respectively. It was distantly followed by India (X tons), generating a 12% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Bangladesh (with a CAGR of +8.4%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, Pakistan ($X), Bangladesh ($X) and India ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising 98% of total imports.

Pakistan, with a CAGR of +7.0%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per ton, falling by -40.9% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 41%. The level of import peaked at $X per ton in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was India ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+9.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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