Price for Spices; Cardamoms, Neither Crushed Nor Ground in India - 2023
Contents:
- Price for Spices; Cardamoms, Neither Crushed Nor Ground in India (FOB) - 2023
- Price for Spices; Cardamoms, Neither Crushed Nor Ground in India (CIF) - 2023
- Exports of Spices; Cardamoms, Neither Crushed Nor Ground in India
- Imports of Spices; Cardamoms, Neither Crushed Nor Ground in India
Price for Spices; Cardamoms, Neither Crushed Nor Ground in India (FOB) - 2023
In November 2023, the average export price for spices; cardamoms, neither crushed nor ground amounted to $18,343 per ton, reducing by -16.9% against the previous month. Overall, export price indicated measured growth from November 2022 to November 2023: its price increased at an average monthly rate of +2.9% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on November 2023 figures, export price for spices; cardamoms, neither crushed nor ground decreased by -16.9% against October 2023 indices. The pace of growth was the most pronounced in September 2023 when the average export price increased by 37% m-o-m. Over the period under review, the average export prices reached the peak figure at $22,079 per ton in October 2023, and then reduced sharply in the following month.
Prices varied noticeably by the country of destination: the country with the highest price was Iran ($23,785 per ton), while the average price for exports to the United States ($14,061 per ton) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was recorded for supplies to Pakistan (+7.3%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Spices; Cardamoms, Neither Crushed Nor Ground in India (CIF) - 2023
The average import price for spices; cardamoms, neither crushed nor ground stood at $8,917 per ton in November 2023, rising by 18% against the previous month. Over the last twelve months, it increased at an average monthly rate of +2.9%. The most prominent rate of growth was recorded in July 2023 when the average import price increased by 25% against the previous month. The import price peaked at $9,191 per ton in August 2023; however, from September 2023 to November 2023, import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was Nepal ($9,983 per ton), while the price for Singapore ($6,285 per ton) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by Nepal (+4.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Spices; Cardamoms, Neither Crushed Nor Ground in India
For the fourth consecutive year, India recorded growth in shipments abroad of spices; cardamoms, neither crushed nor ground, which increased by 0.1% to 11K tons in 2022. In general, exports continue to indicate a significant expansion. The growth pace was the most rapid in 2021 with an increase of 88%. The exports peaked in 2022 and are expected to retain growth in years to come.
In value terms, exports of spices; cardamoms, neither crushed nor ground shrank remarkably to $144M in 2022. Over the period under review, exports showed a significant expansion. The growth pace was the most rapid in 2020 with an increase of 107%.
| Export of Spices; Cardamoms, Neither Crushed Nor Ground in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Arab Emirates | 18.5 | 30.5 | 63.1 | 55.9 | 44.6% |
| Saudi Arabia | 1.5 | 14.0 | 32.4 | 22.5 | 146.6% |
| Bangladesh | N/A | 8.1 | 12.7 | 10.3 | 12.8% |
| Kuwait | 6.5 | 11.1 | 11.3 | 9.2 | 12.3% |
| Afghanistan | 2.9 | 3.3 | 5.5 | 6.4 | 30.2% |
| United States | 3.6 | 4.9 | 8.0 | 5.2 | 13.0% |
| Iraq | N/A | 2.1 | 2.8 | 4.4 | 44.7% |
| Canada | 0.9 | 3.8 | 4.5 | 2.7 | 44.2% |
| Malaysia | 0.9 | 3.2 | 2.9 | 2.5 | 40.6% |
| Iran | 4.2 | 3.2 | 2.3 | 2.2 | -19.4% |
| United Kingdom | 2.0 | 3.3 | 4.1 | 2.2 | 3.2% |
| Pakistan | 4.2 | 0.3 | 0.8 | 1.2 | -34.1% |
| Others | 10.1 | 26.7 | 43.0 | 19.0 | 23.4% |
| Total | 55.3 | 115 | 193 | 144 | 37.6% |
Top Export Markets for Spices; Cardamoms, Neither Crushed Nor Ground from India in 2022:
- United Arab Emirates (3944.9 tons)
- Saudi Arabia (1503.6 tons)
- Bangladesh (1127.4 tons)
- Afghanistan (628.7 tons)
- Kuwait (615.8 tons)
- United States (302.5 tons)
- Iraq (290.9 tons)
- Malaysia (199.5 tons)
- Canada (175.2 tons)
- United Kingdom (165.2 tons)
- Pakistan (158.5 tons)
- Iran (152.5 tons)
Imports of Spices; Cardamoms, Neither Crushed Nor Ground in India
After three years of growth, supplies from abroad of spices; cardamoms, neither crushed nor ground decreased by -3.3% to 7.7K tons in 2022. The total import volume increased at an average annual rate of +8.2% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 with an increase of 30%.
In value terms, imports of spices; cardamoms, neither crushed nor ground contracted to $56M in 2022. The total import value increased at an average annual rate of +2.7% from 2019 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by 20% against the previous year. As a result, imports attained the peak of $62M. From 2021 to 2022, the growth of imports of failed to regain momentum.
| Import of Spices; Cardamoms, Neither Crushed Nor Ground in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Nepal | 19.4 | 45.3 | 46.6 | 47.3 | 34.6% |
| Guatemala | 2.5 | 7.6 | 4.2 | 3.2 | 8.6% |
| Bhutan | 3.3 | 2.6 | 7.4 | 2.9 | -4.2% |
| United Arab Emirates | 21.2 | 6.1 | 1.6 | 1.4 | -59.6% |
| Others | 5.3 | 0.4 | 0.7 | 1.3 | -37.4% |
| Total | 51.8 | 62.0 | 60.6 | 56.1 | 2.7% |
Top Suppliers of Spices; Cardamoms, Neither Crushed Nor Ground to India in 2022:
- Nepal (6.9K tons)
- Bhutan (0.4K tons)
- Guatemala (0.2K tons)
- United Arab Emirates (0.1K tons)
799
This report provides an in-depth analysis of the market for nutmeg, mace and cardamom in India.
4099
This report provides an in-depth analysis of the global market for nutmeg, mace and cardamom.
799
This report provides an in-depth analysis of the market for nutmeg, mace and cardamom in India.
4099
This report provides an in-depth analysis of the global market for nutmeg, mace and cardamom.
3876
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
8559
In 2015, the countries with the highest levels of production in 2015 were Guatemala (X thousand tons), Indonesia (X thousand tons), India (X thousand tons), together accounting for X% of total output.
3993
Guatemala continued its dominance in the global trade of nutmeg, mace and cardamom. In 2014, Guatemala exported X thousand tons of nutmeg, mace and cardamoms totaling X USD, X% over the previous year. Its primary trading partner was Saudi Arabia,
3876
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
8559
In 2015, the countries with the highest levels of production in 2015 were Guatemala (X thousand tons), Indonesia (X thousand tons), India (X thousand tons), together accounting for X% of total output.
3993
Guatemala continued its dominance in the global trade of nutmeg, mace and cardamom. In 2014, Guatemala exported X thousand tons of nutmeg, mace and cardamoms totaling X USD, X% over the previous year. Its primary trading partner was Saudi Arabia,
