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

Contents:

1. Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in the Dominican Republic (CIF) - 2022
2. Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in the Dominican Republic (FOB) - 2023
3. Imports of Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in the Dominican Republic
4. Exports of Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in the Dominican Republic

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

In 2022, the average import price for spices; cloves (whole fruit, cloves and stems), neither crushed nor ground amounted to $9,254 per ton, jumping by 38% against the previous year. In general, the import price, however, showed a noticeable decrease. The import price peaked at $11,939 per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Indonesia ($9,754 per ton) and Sri Lanka ($9,549 per ton), while the price for Comoros ($8,858 per ton) and France ($8,900 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (-2.2%), while the prices for the other major suppliers experienced a decline.

Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in the Dominican Republic (FOB) - 2023

In March 2023, the average export price for spices; cloves (whole fruit, cloves and stems), neither crushed nor ground amounted to $9,984 per ton, almost unchanged from the previous month. Overall, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in September 2022 when the average export price increased by 65% against the previous month. Over the period under review, the average export prices attained the peak figure at $19,128 per ton in January 2023; however, from February 2023 to March 2023, the export prices stood at a somewhat lower figure.

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

From March 2022 to March 2023, the rate of growth in terms of prices for Haiti amounted to -0.3% per month.

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

In 2022, imports of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground into the Dominican Republic surged to 521 tons, growing by 39% against the previous year's figure. The total import volume increased at an average annual rate of +2.7% from 2019 to 2022; however, the trend pattern 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 surged to $4.8M in 2022. Overall, imports continue to indicate a prominent 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 the Dominican Republic in 2022:

1. Madagascar (252.1 tons)
2. Brazil (136.0 tons)
3. Indonesia (76.0 tons)
4. Sri Lanka (25.0 tons)
5. Comoros (20.0 tons)
6. France (11.0 tons)

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

For the third consecutive year, the Dominican Republic recorded decline in overseas shipments of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground, which decreased by -21.5% to 100 tons in 2022. In general, exports faced a deep slump. The smallest decline of -16.5% was in 2020.

In value terms, exports of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground surged to $389K in 2022. Overall, exports recorded a drastic downturn.

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

1. Haiti (98.2 tons)

Source: IndexBox Market Intelligence Platform