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

Contents:

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

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

The average import price for spices; cloves (whole fruit, cloves and stems), neither crushed nor ground stood at $8,548 per ton in 2022, picking up by 43% against the previous year. Over the period under review, the import price recorded prominent growth. The most prominent rate of growth was recorded in 2017 an increase of 43%. The import price peaked in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the United Arab Emirates ($8,548 per ton) and Madagascar ($8,548 per ton), while the price for Kuwait ($8,548 per ton) and Singapore ($8,548 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+54.6%), 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 Oman (FOB) - 2022

The average export price for spices; cloves (whole fruit, cloves and stems), neither crushed nor ground stood at $8,176 per ton in 2022, with an increase of 40% against the previous year. Over the period under review, export price indicated a buoyant increase from 2017 to 2022: its price increased at an average annual rate of +9.4% over the last five years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Qatar.

From 2017 to 2022, the rate of growth in terms of prices for Qatar amounted to +9.8% per year.

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

Imports of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground into Oman surged to 263 tons in 2022, increasing by 59% on the previous year. Overall, total imports indicated a prominent expansion from 2019 to 2022: its volume increased at an average annual rate of +12.5% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. 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 soared to $2.2M in 2022. Over the period under review, imports saw 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 Oman in 2022:

1. United Arab Emirates (146.5 tons)
2. Madagascar (48.5 tons)
3. Singapore (26.6 tons)
4. Indonesia (17.7 tons)
5. Tanzania (16.8 tons)
6. Kuwait (6.2 tons)

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

In 2022, shipments abroad of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground decreased by -21.2% to 6 tons, falling for the second consecutive year after two years of growth. In general, exports showed a precipitous setback. The pace of growth was the most pronounced in 2020 with an increase of 16% against the previous year. As a result, the exports attained the peak of 28 tons. From 2021 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground rose rapidly to $49K in 2022. Overall, exports showed a sharp contraction. The pace of growth was the most pronounced in 2020 when exports increased by 32% against the previous year. As a result, the exports reached the peak of $207K. From 2021 to 2022, the growth of the exports of failed to regain momentum.

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

1. Qatar (6.0 tons)

Source: IndexBox Market Intelligence Platform