Price for Spices; Cloves (Whole Fruit, Cloves and Stems) in Hong Kong SAR - 2022
Contents:
- Price for Spices; Cloves (Whole Fruit, Cloves and Stems) in Hong Kong SAR (CIF) - 2022
- Price for Spices; Cloves (Whole Fruit, Cloves and Stems) in Hong Kong SAR (FOB) - 2022
- Imports of Spices; Cloves (Whole Fruit, Cloves and Stems) in Hong Kong SAR
- Exports of Spices; Cloves (Whole Fruit, Cloves and Stems) in Hong Kong SAR
Price for Spices; Cloves (Whole Fruit, Cloves and Stems) in Hong Kong SAR (CIF) - 2022
The average import price for spices; cloves (whole fruit, cloves and stems) stood at $76,450 per ton in 2022, reducing by -15.2% against the previous year. In general, the import price, however, saw a significant expansion. The most prominent rate of growth was recorded in 2017 when the average import price increased by 39%. The import price peaked at $90,191 per ton in 2021, and then reduced notably in the following year.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Indonesia ($220,420 per ton), while the price for Madagascar ($15,048 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+29.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Spices; Cloves (Whole Fruit, Cloves and Stems) in Hong Kong SAR (FOB) - 2022
In 2022, the average export price for spices; cloves (whole fruit, cloves and stems) amounted to $29,814 per ton, dropping by -5.9% against the previous year. Overall, the export price, however, saw a resilient increase. The most prominent rate of growth was recorded in 2016 when the average export price increased by 12%. The export price peaked at $31,686 per ton in 2021, and then dropped in the following year.
There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($175,696 per ton), while the average price for exports to Suriname ($6,949 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 the United States (+27.9%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Spices; Cloves (Whole Fruit, Cloves and Stems) in Hong Kong SAR
In 2022, supplies from abroad of spices; cloves (whole fruit, cloves and stems) increased by 13% to 3.3 tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, recorded a deep downturn.
In value terms, imports of spices; cloves (whole fruit, cloves and stems) dropped modestly to $250K in 2022. The total import value increased at an average annual rate of +4.9% over the period from 2019 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by 10%.
| Import of Spices; Cloves (Whole Fruit, Cloves and Stems) in Hong Kong SAR (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 153 | 171 | 191 | 185 | 6.5% |
| Taiwan (Chinese) | 27.4 | 28.7 | 30.0 | 27.2 | -0.2% |
| Malaysia | 24.2 | 26.4 | 28.7 | 27.0 | 3.7% |
| Madagascar | 4.4 | 3.3 | 2.4 | 1.6 | -28.6% |
| Others | 7.6 | 8.4 | 9.3 | 8.9 | 5.4% |
| Total | 216 | 238 | 262 | 250 | 5.0% |
Top Suppliers of Spices; Cloves (Whole Fruit, Cloves and Stems) to Hong Kong SAR in 2022:
- Taiwan (Chinese) (1441.0 kg)
- Malaysia (849.0 kg)
- Indonesia (840.0 kg)
- Madagascar (105.0 kg)
Exports of Spices; Cloves (Whole Fruit, Cloves and Stems) in Hong Kong SAR
After two years of decline, shipments abroad of spices; cloves (whole fruit, cloves and stems) increased by 13% to 2.8 tons in 2022. Overall, exports, however, showed a deep reduction.
In value terms, exports of spices; cloves (whole fruit, cloves and stems) amounted to $84K in 2022. Over the period under review, exports, however, continue to indicate a abrupt shrinkage.
| Export of Spices; Cloves (Whole Fruit, Cloves and Stems) in Hong Kong SAR (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Australia | 71.2 | 65.3 | 59.7 | 64.5 | -3.2% |
| Canada | 9.0 | 8.1 | 7.2 | 7.6 | -5.5% |
| United Kingdom | 6.9 | 5.6 | 4.6 | 4.4 | -13.9% |
| Suriname | 2.8 | 2.4 | 2.1 | 2.2 | -7.7% |
| Others | 9.8 | 7.7 | 6.1 | 5.7 | -16.5% |
| Total | 99.6 | 89.1 | 79.8 | 84.4 | -5.4% |
Top Export Markets for Spices; Cloves (Whole Fruit, Cloves and Stems) from Hong Kong SAR in 2022:
- Australia (2283.0 kg)
- Suriname (316.0 kg)
- Canada (141.0 kg)
- United Kingdom (59.0 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.
7289
This report provides an in-depth analysis of the global clove market.
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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.
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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.
4735
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
