Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Italy - 2023

Contents:

1. Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Italy (FOB) - 2022
2. Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Italy (CIF) - 2022
3. Exports of Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Italy
4. Imports of Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Italy

Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Italy (FOB) - 2022

The average export price for spices; cloves (whole fruit, cloves and stems), crushed or ground stood at $7,187 per ton in 2022, declining by -6.7% against the previous year. In general, the export price showed a pronounced descent. The growth pace was the most rapid in 2021 when the average export price increased by 30% against the previous year. Over the period under review, the average export prices reached the peak figure at $11,642 per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Spain ($8,253 per ton) and the UK ($7,611 per ton), while the average price for exports to Germany ($5,657 per ton) and Greece ($7,492 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+19.7%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Italy (CIF) - 2022

The average import price for spices; cloves (whole fruit, cloves and stems), crushed or ground stood at $10,486 per ton in 2022, reducing by -6.1% against the previous year. Overall, the import price saw a pronounced contraction. The most prominent rate of growth was recorded in 2016 when the average import price increased by 87%. Over the period under review, average import prices attained the peak figure at $13,743 per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Romania ($20,637 per ton), while the price for the UK ($6,578 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+2.8%), 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 Italy

In 2022, the amount of spices; cloves (whole fruit, cloves and stems), crushed or ground exported from Italy soared to 22 tons, growing by 40% against 2021. In general, exports recorded a significant increase. 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), crushed or ground skyrocketed to $157K in 2022. Overall, exports recorded a significant expansion. The pace of growth was the most pronounced in 2021 with an increase of 82% against the previous year. The exports peaked in 2022 and are likely to continue growth in the immediate term.

Top Export Markets for Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground from Italy in 2022:

1. Greece (9.6 tons)
2. United Kingdom (6.4 tons)
3. Germany (4.5 tons)
4. Spain (0.8 tons)

Imports of Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Italy

In 2022, approx. 11 tons of spices; cloves (whole fruit, cloves and stems), crushed or ground were imported into Italy; falling by -6.2% on 2021 figures. Over the period under review, imports saw a perceptible setback. The most prominent rate of growth was recorded in 2021 when imports increased by 271% against the previous year. As a result, imports attained the peak of 12 tons, and then fell in the following year.

In value terms, imports of spices; cloves (whole fruit, cloves and stems), crushed or ground fell to $116K in 2022. Overall, imports, however, recorded modest growth. The most prominent rate of growth was recorded in 2021 with an increase of 237%. As a result, imports reached the peak of $131K, and then declined in the following year.

Top Suppliers of Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground to Italy in 2022:

1. Netherlands (5.1 tons)
2. Spain (3.0 tons)
3. Poland (1.7 tons)
4. Romania (0.5 tons)
5. United Kingdom (0.5 tons)
6. Germany (0.1 tons)

Source: IndexBox Market Intelligence Platform