Price for Spices; Cardamoms, Crushed or Ground in the United States - 2023
Contents:
- Price for Spices; Cardamoms, Crushed or Ground in the United States (CIF) - 2023
- Price for Spices; Cardamoms, Crushed or Ground in the United States (FOB) - 2022
- Imports of Spices; Cardamoms, Crushed or Ground in the United States
- Exports of Spices; Cardamoms, Crushed or Ground in the United States
Price for Spices; Cardamoms, Crushed or Ground in the United States (CIF) - 2023
In September 2023, the average import price for spices; cardamoms, crushed or ground amounted to $13,706 per ton, stabilizing at the previous month. Over the period under review, import price indicated modest growth from September 2022 to September 2023: its price increased at an average monthly rate of +1.9% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on September 2023 figures, spices; cardamoms, crushed or ground import price decreased by -2.1% against July 2023 indices. The most prominent rate of growth was recorded in March 2023 when the average import price increased by 85% month-to-month. As a result, import price reached the peak level of $19,709 per ton. From April 2023 to September 2023, the average import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In September 2023, the country with the highest price was India ($23,972 per ton), while the price for the United Arab Emirates ($6,000 per ton) was amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by India (+6.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Spices; Cardamoms, Crushed or Ground in the United States (FOB) - 2022
The average export price for spices; cardamoms, crushed or ground stood at $4,359 per ton in 2022, shrinking by -45.3% against the previous year. Over the period under review, the export price showed a mild shrinkage. The most prominent rate of growth was recorded in 2013 when the average export price increased by 95%. The export price peaked at $15,185 per ton in 2018; however, from 2019 to 2022, 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 Canada.
From 2012 to 2022, the rate of growth in terms of prices for the Netherlands amounted to +22.4% per year.
Imports of Spices; Cardamoms, Crushed or Ground in the United States
In 2022, approx. 740 tons of spices; cardamoms, crushed or ground were imported into the United States; growing by 20% on the year before. Over the period under review, total imports indicated a remarkable increase from 2019 to 2022: its volume increased at an average annual rate of +15.5% 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 decreased by -9.2% against 2020 indices. The pace of growth was the most pronounced in 2020 when imports increased by 70%. As a result, imports reached the peak of 815 tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
In value terms, spices; cardamoms, crushed or ground imports surged to $8M in 2022. The total import value increased at an average annual rate of +7.1% from 2019 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of 19%. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in the immediate term.
| Import of Spices; Cardamoms, Crushed or Ground in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 3.9 | 4.3 | 4.9 | 5.6 | 12.8% |
| Guatemala | 2.3 | 1.8 | 1.2 | 1.9 | -6.2% |
| Germany | 0.1 | 0.9 | 0.4 | 0.3 | 44.2% |
| United Kingdom | 0.2 | 0.6 | 0.2 | 0.1 | -20.6% |
| Others | N/A | 0.3 | 0.2 | 0.2 | -18.4% |
| Total | 6.5 | 7.8 | 6.9 | 8.0 | 7.2% |
Top Suppliers of Spices; Cardamoms, Crushed or Ground to the United States in 2022:
- India (554.6 tons)
- Guatemala (140.2 tons)
- Germany (17.8 tons)
- United Kingdom (5.2 tons)
Exports of Spices; Cardamoms, Crushed or Ground in the United States
For the fourth year in a row, the United States recorded growth in shipments abroad of spices; cardamoms, crushed or ground, which increased by 19% to 191 tons in 2022. In general, exports saw a significant increase. The pace of growth was the most pronounced in 2021 when exports increased by 70% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.
In value terms, spices; cardamoms, crushed or ground exports declined dramatically to $832K in 2022. Over the period under review, total exports indicated prominent growth from 2019 to 2022: its value increased at an average annual rate of +5.0% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +15.8% against 2019 indices. The pace of growth was the most pronounced in 2021 with an increase of 55% against the previous year. As a result, the exports attained the peak of $1.3M, and then fell dramatically in the following year.
| Export of Spices; Cardamoms, Crushed or Ground in the United States (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 555 | 790 | 684 | 781 | 12.1% |
| Mexico | 51.4 | 23.0 | 24.4 | 17.3 | -30.4% |
| Netherlands | N/A | N/A | 513 | N/A | 0% |
| Others | 112 | 7.3 | 52.5 | 33.7 | -33.0% |
| Total | 718 | 820 | 1,275 | 832 | 5.0% |
Top Export Markets for Spices; Cardamoms, Crushed or Ground from the United States in 2022:
- Canada (189.6 tons)
- Mexico (0.4 tons)
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In 2016, the nutmeg, mace and cardamom market peaked at X tons. Over the period from 2007 to 2016, consumption expanded with an annual average rate of growth of +X%. Following a slight decline in consumption from 2009-2010, the nutmeg, mace and
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