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

Contents:

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

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

The average import price for spices; cloves (whole fruit, cloves and stems), neither crushed nor ground stood at $10,653 per ton in 2022, surging by 10% against the previous year. Overall, the import price, however, continues to indicate a noticeable decline. The most prominent rate of growth was recorded in 2021 an increase of 32% against the previous year. The import price peaked at $16,621 per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 Austria ($26,499 per ton), while the price for Poland ($9,272 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+8.2%), 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 Lithuania (FOB) - 2022

The average export price for spices; cloves (whole fruit, cloves and stems), neither crushed nor ground stood at $16,752 per ton in 2022, which is down by -19.3% against the previous year. Over the period under review, the export price saw a pronounced decrease. The most prominent rate of growth was recorded in 2021 an increase of 44% against the previous year. Over the period under review, the average export prices attained the peak figure at $21,675 per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($23,689 per ton), while the average price for exports to the Netherlands ($9,310 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 Sweden (+19.5%), 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 Lithuania

In 2022, approx. 7.3 tons of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground were imported into Lithuania; leveling off at 2021. The total import volume increased at an average annual rate of +8.5% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of 36% against the previous year. As a result, imports reached the peak of 7.8 tons. From 2021 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground rose notably to $78K in 2022. In general, total imports indicated resilient growth from 2019 to 2022: its value increased at an average annual rate of +16.8% 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 +59.5% against 2019 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 23% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

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

1. Netherlands (3.2 tons)
2. Latvia (2.5 tons)
3. Poland (1.2 tons)
4. Austria (0.5 tons)

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

After three years of growth, shipments abroad of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground decreased by -8.7% to 1.5 tons in 2022. The total export volume increased at an average annual rate of +5.9% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2020 when exports increased by 28%.

In value terms, exports of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground fell dramatically to $25K in 2022. In general, total exports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +8.2% 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 +26.6% against 2019 indices. The pace of growth was the most pronounced in 2021 when exports increased by 46%. As a result, the exports attained the peak of $34K, and then declined remarkably in the following year.

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

1. Germany (451.0 kg)
2. United Arab Emirates (377.0 kg)
3. Latvia (308.0 kg)
4. Estonia (163.0 kg)
5. Netherlands (58.0 kg)
6. Sweden (47.0 kg)
7. United Kingdom (45.0 kg)
8. Russia (28.0 kg)

Source: IndexBox Market Intelligence Platform