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

Contents:

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

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

In 2022, the average import price for spices; cloves (whole fruit, cloves and stems), neither crushed nor ground amounted to $9,679 per ton, increasing by 27% against the previous year. Overall, the import price, however, saw a abrupt descent. Over the period under review, average import prices hit record highs at $17,061 per ton in 2012; however, from 2013 to 2022, import prices remained at a 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 Slovakia ($16,796 per ton), while the price for Madagascar ($7,160 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+5.7%), while the prices for the other major suppliers experienced mixed trend patterns.

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

In 2022, the average export price for spices; cloves (whole fruit, cloves and stems), neither crushed nor ground amounted to $10,867 per ton, picking up by 21% against the previous year. Over the period under review, the export price, however, recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2013 when the average export price increased by 27%. As a result, the export price attained the peak level of $26,206 per ton. From 2014 to 2022, the average export prices failed to regain momentum.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Romania ($12,937 per ton) and Malta ($11,422 per ton), while the average price for exports to Austria ($10,127 per ton) and Germany ($10,471 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 Germany (+34.1%), 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 Hungary

In 2022, imports of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground into Hungary soared to 36 tons, increasing by 21% on the year before. In general, total imports indicated a significant expansion from 2019 to 2022: its volume increased at an average annual rate of +22.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +83.0% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 42%. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, imports of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground soared to $348K in 2022. Over the period under review, total imports indicated a significant increase from 2019 to 2022: its value increased at an average annual rate of +21.5% 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 increased by +79.3% against 2019 indices. 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 Hungary in 2022:

1. Netherlands (17.2 tons)
2. Madagascar (6.5 tons)
3. Austria (4.0 tons)
4. Indonesia (2.7 tons)
5. Latvia (2.0 tons)
6. Romania (1.5 tons)
7. Slovakia (1.0 tons)
8. Germany (0.1 tons)

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

After three years of growth, shipments abroad of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground decreased by -2.7% to 3.9 tons in 2022. In general, exports, however, saw significant growth. The growth pace was the most rapid in 2020 with an increase of 372%.

In value terms, exports of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground surged to $43K in 2022. Over the period under review, exports, however, recorded significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 158% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the near future.

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

1. Germany (2610.0 kg)
2. Croatia (405.0 kg)
3. Romania (331.0 kg)
4. Austria (204.0 kg)
5. Malta (116.0 kg)
6. France (60.0 kg)
7. Greece (58.0 kg)

Source: IndexBox Market Intelligence Platform