Price for Spices; Cloves (Whole Fruit, Cloves and Stems) in Guatemala - 2022

Contents:

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

Price for Spices; Cloves (Whole Fruit, Cloves and Stems) in Guatemala (FOB) - 2022

The average export price for spices; cloves (whole fruit, cloves and stems) stood at $32,039 per ton in 2022, which is down by -8.3% against the previous year. In general, the export price, however, continues to indicate a resilient expansion. The pace of growth was the most pronounced in 2021 an increase of 19% against the previous year. As a result, the export price reached the peak level of $34,943 per ton, and then contracted in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Nicaragua ($106,286 per ton), while the average price for exports to El Salvador ($3,056 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Nicaragua (+28.6%), while the prices for the other major destinations experienced mixed trend patterns.

Price for Spices; Cloves (Whole Fruit, Cloves and Stems) in Guatemala (CIF) - 2022

The average import price for spices; cloves (whole fruit, cloves and stems) stood at $1,052 per ton in 2022, shrinking by -7.2% against the previous year. In general, the import price faced a abrupt slump. The import price peaked at $4,002 per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Brazil ($897 per ton), while the price for the United States amounted to $806 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (-11.2%).

Exports of Spices; Cloves (Whole Fruit, Cloves and Stems) in Guatemala

In 2022, shipments abroad of spices; cloves (whole fruit, cloves and stems) increased by 6.4% to 618 kg for the first time since 2019, thus ending a two-year declining trend. In general, exports, however, continue to indicate a drastic downturn.

In value terms, exports of spices; cloves (whole fruit, cloves and stems) declined slightly to $20K in 2022. The total export value increased at an average annual rate of +2.6% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 5.2% against the previous year. As a result, the exports attained the peak of $20K, and then contracted modestly in the following year.

Top Export Markets for Spices; Cloves (Whole Fruit, Cloves and Stems) from Guatemala in 2022:

1. Costa Rica (579.0 kg)
2. Nicaragua (21.0 kg)
3. El Salvador (18.0 kg)

Imports of Spices; Cloves (Whole Fruit, Cloves and Stems) in Guatemala

After two years of decline, purchases abroad of spices; cloves (whole fruit, cloves and stems) increased by 20% to 7.1 tons in 2022. In general, imports, however, continue to indicate a relatively flat trend pattern.

In value terms, imports of spices; cloves (whole fruit, cloves and stems) expanded remarkably to $7.4K in 2022. Over the period under review, imports, however, continue to indicate a abrupt slump.

Top Suppliers of Spices; Cloves (Whole Fruit, Cloves and Stems) to Guatemala in 2022:

1. Brazil (5.9 tons)
2. United States (1.2 tons)

Source: IndexBox Market Intelligence Platform