Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in Austria - 2023

Contents:

1. Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in Austria (CIF) - 2023
2. Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in Austria (FOB) - 2023
3. Imports of Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in Austria
4. Exports of Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in Austria

Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in Austria (CIF) - 2023

The average import price for spices; cloves (whole fruit, cloves and stems), neither crushed nor ground stood at $13,145 per ton in September 2023, growing by 29% against the previous month. In general, import price indicated a perceptible increase from October 2022 to September 2023: its price increased at an average monthly rate of +2.1% over the last eleven-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on September 2023 figures, import price for spices; cloves (whole fruit, cloves and stems), neither crushed nor ground decreased by -35.7% against July 2023 indices. The most prominent rate of growth was recorded in July 2023 when the average import price increased by 56% m-o-m. As a result, import price attained the peak level of $20,443 per ton. From August 2023 to September 2023, the average import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for Germany.

From October 2022 to September 2023, the rate of growth in terms of prices for Germany amounted to +0.4% per month.

Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in Austria (FOB) - 2023

The average export price for spices; cloves (whole fruit, cloves and stems), neither crushed nor ground stood at $20,109 per ton in October 2023, shrinking by -11.8% against the previous month. Over the last twelve-month period, it increased at an average monthly rate of +2.8%. The most prominent rate of growth was recorded in November 2022 when the average export price increased by 20% m-o-m. Over the period under review, the average export prices reached the peak figure at $22,789 per ton in September 2023, and then fell in the following month.

There were significant differences in the average prices for the major external markets. In October 2023, the country with the highest price was Montenegro ($33,264 per ton), while the average price for exports to Russia ($19,660 per ton) was amongst the lowest.

From October 2022 to October 2023, the most notable rate of growth in terms of prices was recorded for supplies to the Czech Republic (+9.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in Austria

For the fourth year in a row, Austria recorded growth in supplies from abroad of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground, which increased by 1.3% to 130 tons in 2022. The total import volume increased at an average annual rate of +5.8% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by 13% against the previous year. Imports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, imports of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground rose markedly to $1.3M in 2022. The total import value increased at an average annual rate of +4.5% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Top Suppliers of Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground to Austria in 2022:

1. Germany (87.3 tons)
2. Netherlands (33.2 tons)
3. Tanzania (8.8 tons)

Exports of Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in Austria

Exports of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground from Austria soared to 62 tons in 2022, rising by 39% against the year before. In general, total exports indicated prominent growth from 2019 to 2022: its volume increased at an average annual rate of +19.3% 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 +69.8% against 2019 indices. 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), neither crushed nor ground soared to $1M 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 +14.8% 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 +51.1% against 2019 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Top Export Markets for Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground from Austria in 2022:

1. Russia (32.4 tons)
2. Germany (6.3 tons)
3. Czech Republic (4.5 tons)
4. Hungary (4.4 tons)
5. Croatia (3.8 tons)
6. Poland (3.7 tons)
7. Slovenia (2.2 tons)
8. Slovakia (1.2 tons)

Source: IndexBox Market Intelligence Platform