Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Vietnam - 2022
Contents:
- Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Vietnam (FOB) - 2022
- Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Vietnam (CIF) - 2022
- Exports of Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Vietnam
- Imports of Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Vietnam
Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Vietnam (FOB) - 2022
The average export price for spices; cloves (whole fruit, cloves and stems), crushed or ground stood at $9,588 per ton in 2022, therefore, remained relatively stable against the previous year. Overall, the export price recorded a perceptible slump. The most prominent rate of growth was recorded in 2015 when the average export price increased by 7.1%. As a result, the export price reached the peak level of $14,302 per ton. From 2016 to 2022, the average export prices failed to regain momentum.
Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Finland ($9,599 per ton) and the Netherlands ($9,588 per ton), while the average price for exports to the UK ($9,587 per ton) and South Africa ($9,587 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 Finland (-0.1%), while the prices for the other major destinations experienced a decline.
Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Vietnam (CIF) - 2022
The average import price for spices; cloves (whole fruit, cloves and stems), crushed or ground stood at $9,346 per ton in 2022, dropping by -7.4% against the previous year. In general, the import price continues to indicate a perceptible reduction. The growth pace was the most rapid in 2019 an increase of 39%. Over the period under review, average import prices reached the peak figure at $12,677 per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.
As there is only one major supplying country, the average price level is determined by prices for Japan.
From 2012 to 2022, the rate of growth in terms of prices for Japan amounted to +25.0% per year.
Exports of Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Vietnam
For the fourth consecutive year, Vietnam recorded growth in shipments abroad of spices; cloves (whole fruit, cloves and stems), crushed or ground, which increased by 18% to 150 tons in 2022. Overall, total exports indicated a strong increase from 2019 to 2022: its volume increased at an average annual rate of +16.2% 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 +57.0% against 2019 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 32% against the previous year. Over the period under review, the exports of attained the maximum in 2022 and are expected to retain growth in the near future.
In value terms, exports of spices; cloves (whole fruit, cloves and stems), crushed or ground soared to $1.4M in 2022. Over the period under review, total exports indicated a strong expansion from 2019 to 2022: its value increased at an average annual rate of +12.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +45.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 25%. The exports peaked in 2022 and are likely to continue growth in the near future.
| Export of Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Vietnam (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 337 | 271 | 297 | 351 | 1.4% |
| United States | 42.7 | 140 | 292 | 332 | 98.1% |
| Sweden | 174 | 123 | 160 | 179 | 0.9% |
| South Africa | 125 | 145 | 143 | 127 | 0.5% |
| Indonesia | 9.6 | 44.5 | 80.0 | 123 | 134.0% |
| United Kingdom | 52.0 | 61.4 | 69.7 | 102 | 25.2% |
| Australia | 90.1 | 86.1 | 59.0 | 62.2 | -11.6% |
| South Korea | 31.3 | 20.0 | 45.9 | 42.8 | 11.0% |
| Others | 153 | 100 | 94.4 | 124 | -6.8% |
| Total | 1,014 | 991 | 1,241 | 1,443 | 12.5% |
Top Export Markets for Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground from Vietnam in 2022:
- Netherlands (36.6 tons)
- United States (34.6 tons)
- Sweden (18.7 tons)
- South Africa (13.3 tons)
- Indonesia (12.8 tons)
- United Kingdom (10.7 tons)
- Australia (6.5 tons)
- South Korea (4.5 tons)
Imports of Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Vietnam
In 2022, imports of spices; cloves (whole fruit, cloves and stems), crushed or ground into Vietnam dropped remarkably to 246 kg, with a decrease of -79.7% compared with 2021. Overall, imports recorded a precipitous shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of 37%.
In value terms, imports of spices; cloves (whole fruit, cloves and stems), crushed or ground dropped significantly to $2.3K in 2022. Over the period under review, imports continue to indicate a dramatic shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of 65% against the previous year. As a result, imports attained the peak of $12K, and then dropped dramatically in the following year.
| Import of Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Vietnam (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 1.2 | 1.4 | 3.3 | 2.3 | 24.2% |
| Singapore | 2.5 | 3.0 | 7.2 | N/A | 69.7% |
| Indonesia | 8.0 | 2.6 | 1.7 | N/A | -53.9% |
| Others | N/A | 0.4 | N/A | N/A | 0% |
| Total | 11.6 | 7.4 | 12.2 | 2.3 | -41.7% |
Top Suppliers of Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground to Vietnam in 2022:
- Japan (246.0 kg)
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This report provides an in-depth analysis of the clove market in Vietnam.
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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 Vietnam.
7229
This report provides an in-depth analysis of the global clove market.
3146
Global clove consumption amounted to X thousand tons in 2015, lowering by -X% against the previous year level.
5155
Global clove exports amounted to X thousand tons in 2015, growing by +X% against the previous year level.
4721
Global clove imports amounted to X thousand tons in 2015, falling by -X% against the previous year level.
6731
In 2015, the country with the largest volume of the clove output was Indonesia (X thousand tons), accounting for X% of global production.
1951
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
3146
Global clove consumption amounted to X thousand tons in 2015, lowering by -X% against the previous year level.
5155
Global clove exports amounted to X thousand tons in 2015, growing by +X% against the previous year level.
4721
Global clove imports amounted to X thousand tons in 2015, falling by -X% against the previous year level.
6731
In 2015, the country with the largest volume of the clove output was Indonesia (X thousand tons), accounting for X% of global production.
1951
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
