Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Hong Kong SAR - 2022
Contents:
- Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Hong Kong SAR (FOB) - 2022
- Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Hong Kong SAR (CIF) - 2022
- Exports of Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Hong Kong SAR
- Imports of Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Hong Kong SAR
Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Hong Kong SAR (FOB) - 2022
The average export price for spices; cloves (whole fruit, cloves and stems), crushed or ground stood at $22,083 per ton in 2022, growing by 200% against the previous year. Overall, the export price showed a remarkable increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.
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 United States amounted to +15.2% per year.
Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Hong Kong SAR (CIF) - 2022
In 2022, the average import price for spices; cloves (whole fruit, cloves and stems), crushed or ground amounted to $10,179 per ton, jumping by 32% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the average import price increased by 36%. As a result, import price reached the peak level of $14,195 per ton. From 2014 to 2022, the average import prices remained 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 Taiwan (Chinese) ($25,500 per ton), while the price for China ($6,448 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sri Lanka (+25.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Hong Kong SAR
In 2022, the amount of spices; cloves (whole fruit, cloves and stems), crushed or ground exported from Hong Kong SAR fell significantly to 60 kg, shrinking by -82.4% compared with the year before. Over the period under review, exports saw a sharp contraction. The pace of growth appeared the most rapid in 2021 when exports increased by 259% against the previous year.
In value terms, exports of spices; cloves (whole fruit, cloves and stems), crushed or ground dropped dramatically to $1.3K in 2022. Overall, exports faced a precipitous setback. The pace of growth appeared the most rapid in 2021 when exports increased by 407% against the previous year.
| Export of Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Hong Kong SAR (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 0.2 | N/A | 0.4 | 1.3 | 86.6% |
| United States | 3.8 | 0.4 | 2.1 | N/A | -25.7% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 4.0 | 0.5 | 2.5 | 1.3 | -31.2% |
Top Export Markets for Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground from Hong Kong SAR in 2022:
- Canada (60.0 kg)
Imports of Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Hong Kong SAR
In 2022, approx. 1.6 tons of spices; cloves (whole fruit, cloves and stems), crushed or ground were imported into Hong Kong SAR; reducing by -52.2% on the year before. Over the period under review, imports, however, showed a strong increase. The most prominent rate of growth was recorded in 2021 with an increase of 228% against the previous year. As a result, imports reached the peak of 3.4 tons, and then dropped markedly in the following year.
In value terms, imports of spices; cloves (whole fruit, cloves and stems), crushed or ground declined significantly to $17K in 2022. Overall, imports, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 274% against the previous year. As a result, imports attained the peak of $26K, and then contracted significantly in the following year.
| Import of Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Hong Kong SAR (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 1.1 | 1.3 | 4.0 | 5.6 | 72.0% |
| India | N/A | N/A | 1.8 | 5.0 | 177.8% |
| China | 4.1 | 4.0 | 17.1 | 1.4 | -30.1% |
| Australia | N/A | 0.2 | 0.9 | 1.3 | 155.0% |
| Indonesia | 0.7 | 0.6 | 0.9 | 0.9 | 8.7% |
| Singapore | 0.6 | 0.4 | 0.4 | 0.7 | 5.3% |
| Sri Lanka | 0.1 | 0.4 | 0.2 | 0.6 | 81.7% |
| Others | 0.2 | 0.1 | 0.9 | 1.2 | 81.7% |
| Total | 6.8 | 7.0 | 26.3 | 16.6 | 34.6% |
Top Suppliers of Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground to Hong Kong SAR in 2022:
- India (620.0 kg)
- United States (308.0 kg)
- China (212.0 kg)
- Australia (108.0 kg)
- Singapore (104.0 kg)
- Indonesia (96.0 kg)
- Sri Lanka (51.0 kg)
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This report provides an in-depth analysis of the clove market in Hong Kong SAR, China.
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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 Hong Kong SAR, China.
7288
This report provides an in-depth analysis of the global clove market.
3167
Global clove consumption amounted to X thousand tons in 2015, lowering by -X% against the previous year level.
5167
Global clove exports amounted to X thousand tons in 2015, growing by +X% against the previous year level.
4734
Global clove imports amounted to X thousand tons in 2015, falling by -X% against the previous year level.
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In 2015, the country with the largest volume of the clove output was Indonesia (X thousand tons), accounting for X% of global production.
1959
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
3167
Global clove consumption amounted to X thousand tons in 2015, lowering by -X% against the previous year level.
5167
Global clove exports amounted to X thousand tons in 2015, growing by +X% against the previous year level.
4734
Global clove imports amounted to X thousand tons in 2015, falling by -X% against the previous year level.
6757
In 2015, the country with the largest volume of the clove output was Indonesia (X thousand tons), accounting for X% of global production.
1959
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
