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

Contents:

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

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

The average import price for spices; cloves (whole fruit, cloves and stems), neither crushed nor ground stood at $7,909 per ton in 2022, picking up by 9.7% against the previous year. Overall, the import price, however, saw a noticeable reduction. The most prominent rate of growth was recorded in 2014 when the average import price increased by 9.9% against the previous year. As a result, import price attained the peak level of $13,400 per ton. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($13,513 per ton), while the price for Indonesia ($4,884 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+2.3%), 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 the UK (FOB) - 2023

The average export price for spices; cloves (whole fruit, cloves and stems), neither crushed nor ground stood at $8,633 per ton in November 2023, shrinking by -32.7% against the previous month. Over the period under review, the export price showed a abrupt downturn. The most prominent rate of growth was recorded in March 2023 an increase of 328% against the previous month. Over the period under review, the average export prices hit record highs at $20,628 per ton in December 2022; however, from January 2023 to November 2023, the export prices remained at a lower figure.

Prices varied noticeably by the country of destination: the country with the highest price was Ireland ($51,672 per ton), while the average price for exports to Germany ($2,363 per ton) was amongst the lowest.

From November 2022 to November 2023, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+8.9%), 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 the UK

Imports of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground into the UK soared to 425 tons in 2022, jumping by 23% compared with 2021. The total import volume increased at an average annual rate of +11.6% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. 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 $3.4M in 2022. In general, total imports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +11.6% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +61.8% against 2020 indices. As a result, imports reached 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 UK in 2022:

1. Madagascar (122.7 tons)
2. Indonesia (113.0 tons)
3. Sri Lanka (73.3 tons)
4. Tanzania (41.1 tons)
5. India (27.4 tons)
6. Comoros (20.0 tons)
7. Netherlands (16.4 tons)

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

In 2022, exports of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground from the UK expanded sharply to 80 tons, surging by 10% compared with the previous year's figure. Over the period under review, exports, however, recorded a abrupt descent. The pace of growth was the most pronounced in 2020 with an increase of 32%. As a result, the exports reached the peak of 152 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 soared to $1.1M in 2022. Overall, exports, however, showed a abrupt curtailment.

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

1. France (25.8 tons)
2. Netherlands (22.4 tons)
3. Germany (15.1 tons)
4. Ireland (14.6 tons)

Source: IndexBox Market Intelligence Platform