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

Contents:

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

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

In 2022, the average export price for spices; cloves (whole fruit, cloves and stems), neither crushed nor ground amounted to $8,888 per ton, surging by 53% against the previous year. Overall, the export price, however, saw a mild downturn. The export price peaked at $11,372 per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was France ($13,299 per ton), while the average price for exports to Pakistan ($4,467 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 the United Arab Emirates (+10.7%), while the prices for the other major destinations experienced more modest paces of growth.

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

The average import price for spices; cloves (whole fruit, cloves and stems), neither crushed nor ground stood at $3,375 per ton in 2022, which is down by -44.4% against the previous year. Over the period under review, the import price continues to indicate a deep slump. The pace of growth was the most pronounced in 2021 when the average import price increased by 421% against the previous year. The import price peaked at $12,966 per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($15,000 per ton), while the price for Indonesia ($800 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+11.4%), while the prices for the other major suppliers experienced mixed trend patterns.

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

Exports of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground from Sri Lanka fell notably to 2.3K tons in 2022, shrinking by -62.9% on 2021. Overall, exports continue to indicate a significant decline. The most prominent rate of growth was recorded in 2021 with an increase of 133% against the previous year. As a result, the exports reached the peak of 6.3K tons, and then contracted significantly in the following year.

In value terms, exports of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground plummeted to $21M in 2022. Over the period under review, exports faced a deep contraction. The most prominent rate of growth was recorded in 2021 when exports increased by 130%. As a result, the exports reached the peak of $36M, and then fell sharply in the following year.

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

1. India (1077.9 tons)
2. Saudi Arabia (279.9 tons)
3. United States (179.1 tons)
4. Germany (149.3 tons)
5. United Arab Emirates (132.8 tons)
6. Pakistan (87.2 tons)
7. United Kingdom (85.0 tons)
8. France (56.2 tons)
9. Turkey (40.5 tons)

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

Imports of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground into Sri Lanka contracted remarkably to 8 kg in 2022, waning by -99.9% on the year before. Over the period under review, imports recorded a dramatic slump. The growth pace was the most rapid in 2021 with an increase of 166,717%.

In value terms, imports of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground reduced rapidly to $27 in 2022. Overall, imports continue to indicate a dramatic decline. The growth pace was the most rapid in 2021 when imports increased by 868,186%.

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

1. Indonesia (5.0 kg)
2. Germany (1.0 kg)
3. Australia (1.0 kg)
4. India (1.0 kg)

Source: IndexBox Market Intelligence Platform