Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in Panama - 2023
Contents:
- Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in Panama (CIF) - 2022
- Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in Panama (FOB) - 2022
- Imports of Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in Panama
- Exports of Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in Panama
Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in Panama (CIF) - 2022
The average import price for spices; cloves (whole fruit, cloves and stems), neither crushed nor ground stood at $7,761 per ton in 2022, almost unchanged from the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 21% against the previous year. The import price peaked at $9,994 per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.
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 Spain ($11,092 per ton), while the price for the United States ($4,581 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+4.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in Panama (FOB) - 2022
In 2020, the average export price for spices; cloves (whole fruit, cloves and stems), neither crushed nor ground amounted to $4,689 per ton, which is down by -23.4% against the previous year. Over the period under review, the export price saw a abrupt decrease. The pace of growth appeared the most rapid in 2018 when the average export price increased by 14%. The export price peaked at $14,190 per ton in 2012; however, from 2013 to 2020, the export prices remained at a lower figure.
As there is only one major export destination, the average price level is determined by prices for Guyana.
From 2012 to 2020, the rate of growth in terms of prices for Cuba amounted to +15.5% per year.
Imports of Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in Panama
For the fourth consecutive year, Panama recorded growth in supplies from abroad of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground, which increased by 19% to 34 tons in 2022. Overall, imports showed significant growth. The most prominent rate of growth was recorded in 2020 when imports increased by 43% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.
In value terms, imports of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground surged to $267K in 2022. In general, imports continue to indicate significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 57%. Over the period under review, imports of attained the maximum in 2022 and are likely to continue growth in years to come.
| Import of Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in Panama (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Madagascar | 22.5 | 25.9 | 97.7 | 104 | 66.6% |
| China | 1.8 | 3.9 | 36.9 | 96.0 | 276.4% |
| Sri Lanka | 12.2 | 25.6 | 22.3 | 51.5 | 61.6% |
| Spain | 2.7 | 5.0 | 8.1 | 10.8 | 58.7% |
| United States | 15.4 | 9.1 | 4.9 | 3.3 | -40.2% |
| Indonesia | 40.6 | 72.5 | 32.2 | 1.3 | -68.2% |
| Costa Rica | 14.0 | 26.0 | 7.2 | N/A | -28.3% |
| Brazil | 7.0 | 10.8 | 6.8 | N/A | -1.4% |
| Others | 9.2 | 18.1 | 7.5 | N/A | -9.7% |
| Total | 125 | 197 | 224 | 267 | 28.8% |
Top Suppliers of Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground to Panama in 2022:
- China (15.2 tons)
- Madagascar (10.0 tons)
- Sri Lanka (7.3 tons)
- Spain (1.0 tons)
- United States (0.7 tons)
- Indonesia (0.1 tons)
Exports of Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in Panama
Exports of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground from Panama soared to 1.7 tons in 2020, increasing by 152% on 2019. Over the period under review, exports continue to indicate a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, exports of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground soared to $8K in 2020. Overall, exports saw a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in Panama (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | CAGR, 2019-2020 | ||
| Guyana | 3.0 | 8.0 | 166.7% | ||
| Cuba | 1.2 | N/A | 0% | ||
| Others | N/A | N/A | 0% | ||
| Total | 4.2 | 8.0 | 90.5% | ||
Top Export Markets for Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground from Panama in 2022:
- Guyana (1.7 tons)
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This report provides an in-depth analysis of the clove market in Panama.
7029
This report provides an in-depth analysis of the global clove market.
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This report provides an in-depth analysis of the clove market in Panama.
7029
This report provides an in-depth analysis of the global clove market.
3097
Global clove consumption amounted to X thousand tons in 2015, lowering by -X% against the previous year level.
5126
Global clove exports amounted to X thousand tons in 2015, growing by +X% against the previous year level.
4707
Global clove imports amounted to X thousand tons in 2015, falling by -X% against the previous year level.
6697
In 2015, the country with the largest volume of the clove output was Indonesia (X thousand tons), accounting for X% of global production.
1935
Singapore dominates in the global clove trade. In 2014, Singapore exported X thousand tons of сlove totaling X million USD, X times over the previous year. Its primary trading partner was Malaysia, where it supplied X% of its total сlove exports
3097
Global clove consumption amounted to X thousand tons in 2015, lowering by -X% against the previous year level.
5126
Global clove exports amounted to X thousand tons in 2015, growing by +X% against the previous year level.
4707
Global clove imports amounted to X thousand tons in 2015, falling by -X% against the previous year level.
6697
In 2015, the country with the largest volume of the clove output was Indonesia (X thousand tons), accounting for X% of global production.
1935
Singapore dominates in the global clove trade. In 2014, Singapore exported X thousand tons of сlove totaling X million USD, X times over the previous year. Its primary trading partner was Malaysia, where it supplied X% of its total сlove exports
