Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in Ghana - 2022

Contents:

1. Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in Ghana (CIF) - 2022
2. Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in Ghana (FOB) - 2022
3. Imports of Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in Ghana
4. Exports of Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in Ghana

Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in Ghana (CIF) - 2022

In 2022, the average import price for spices; cloves (whole fruit, cloves and stems), neither crushed nor ground amounted to $4,724 per ton, shrinking by -5.1% against the previous year. In general, the import price continues to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2018 an increase of 23%. The import price peaked at $9,174 per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($19,359 per ton), while the price for the United Arab Emirates ($692 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+20.0%), while the prices for the other major suppliers experienced a decline.

Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in Ghana (FOB) - 2022

The average export price for spices; cloves (whole fruit, cloves and stems), neither crushed nor ground stood at $1,233 per ton in 2022, surging by 98% against the previous year. Overall, the export price, however, faced a abrupt downturn. The most prominent rate of growth was recorded in 2013 an increase of 135% against the previous year. As a result, the export price reached the peak level of $26,200 per ton. From 2014 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belgium ($1,598 per ton), while the average price for exports to Angola ($483 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 Cote d'Ivoire (+38.1%), while the prices for the other major destinations experienced a decline.

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

Imports of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground into Ghana surged to 506 tons in 2022, increasing by 66% against the previous year. Overall, total imports indicated a temperate increase from 2019 to 2022: its volume increased at an average annual rate of +4.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -16.2% against 2020 indices.

In value terms, imports of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground surged to $2.4M in 2022. In general, imports, however, continue to indicate a perceptible descent.

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

1. United Arab Emirates (298.9 tons)
2. Madagascar (90.2 tons)
3. Brazil (48.9 tons)
4. Singapore (40.9 tons)
5. Indonesia (26.4 tons)

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

After three years of growth, shipments abroad of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground decreased by -62.1% to 1 tons in 2022. Over the period under review, exports, however, posted a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 9,513%.

In value terms, exports of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground shrank sharply to $1.3K in 2022. Overall, exports, however, showed a significant expansion. The pace of growth was the most pronounced in 2020 when exports increased by 4,245% against the previous year.

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

1. Germany (787.0 kg)
2. Belgium (189.0 kg)
3. Angola (60.0 kg)

Source: IndexBox Market Intelligence Platform