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

Contents:

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

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

The average import price for spices; cloves (whole fruit, cloves and stems), neither crushed nor ground stood at $8,549 per ton in 2022, picking up by 31% against the previous year. Over the last nine years, it increased at an average annual rate of +4.2%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from the United Arab Emirates ($8,548 per ton) and Madagascar ($8,548 per ton), while the price for Comoros ($8,538 per ton) and Sri Lanka ($8,547 per ton) were amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was attained by Comoros (+7.4%), while the prices for the other major suppliers experienced more modest paces of growth.

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

The average export price for spices; cloves (whole fruit, cloves and stems), neither crushed nor ground stood at $8,175 per ton in 2022, increasing by 5.2% against the previous year. In general, the export price, however, recorded a mild shrinkage. The growth pace was the most rapid in 2018 an increase of 118%. The export price peaked at $9,577 per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Oman ($8,176 per ton) and Saudi Arabia ($8,175 per ton), while the average price for exports to Qatar ($8,175 per ton) and the United Arab Emirates ($8,175 per ton) were amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Oman (+11.9%), while the prices for the other major destinations experienced mixed trend patterns.

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

In 2022, supplies from abroad of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground was finally on the rise to reach 255 tons for the first time since 2019, thus ending a two-year declining trend. In general, imports saw a prominent increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground skyrocketed to $2.2M in 2022. Over the period under review, imports enjoyed a significant increase. As a result, imports attained 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 Kuwait in 2022:

1. Indonesia (123.6 tons)
2. United Arab Emirates (62.2 tons)
3. Madagascar (54.5 tons)
4. India (12.0 tons)

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

Exports of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground from Kuwait surged to 35 tons in 2022, increasing by 44% on 2021. Overall, exports recorded significant growth. The growth pace was the most rapid in 2021 with an increase of 354% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, exports of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground soared to $286K in 2022. In general, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 328%. Over the period under review, the exports of attained the peak figure in 2022 and are expected to retain growth in the near future.

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

1. Saudi Arabia (16.4 tons)
2. Qatar (9.3 tons)
3. United Arab Emirates (4.8 tons)
4. Oman (4.3 tons)

Source: IndexBox Market Intelligence Platform