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

Contents:

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

Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in Vietnam (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, rising by 26% against the previous year. In general, the import price, however, saw a pronounced downturn. Over the period under review, average import prices attained the peak figure at $12,367 per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were India ($8,548 per ton) and Indonesia ($8,548 per ton), while the price for China ($8,548 per ton) and Sri Lanka ($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 the United Arab Emirates (+7.2%), 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 Vietnam (FOB) - 2022

In 2022, the average export price for spices; cloves (whole fruit, cloves and stems), neither crushed nor ground amounted to $8,175 per ton, rising by 9% against the previous year. Overall, the export price, however, recorded a perceptible decrease. The most prominent rate of growth was recorded in 2021 an increase of 40%. Over the period under review, the average export prices hit record highs at $11,132 per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were Canada ($8,176 per ton) and New Zealand ($8,176 per ton), while the average price for exports to the United States ($8,175 per ton) and Japan ($8,175 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to New Zealand (-1.3%), while the prices for the other major destinations experienced a decline.

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

In 2022, purchases abroad of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground decreased by -17.7% to 154 tons, falling for the second consecutive year after two years of growth. In general, total imports indicated modest growth from 2019 to 2022: its volume increased at an average annual rate of +1.7% 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 decreased by -31.6% against 2020 indices. The pace of growth appeared the most rapid in 2020 with an increase of 54%. As a result, imports attained the peak of 226 tons. From 2021 to 2022, the growth of imports of remained at a lower figure.

In value terms, imports of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground expanded to $1.3M in 2022. The total import value increased at an average annual rate of +5.5% from 2019 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 22% against the previous year. As a result, imports reached the peak of $1.4M. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.

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

1. Indonesia (65.4 tons)
2. China (57.5 tons)
3. India (26.3 tons)
4. Sri Lanka (5.2 tons)

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

In 2022, exports of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground from Vietnam expanded sharply to 46 tons, growing by 9.2% on the previous year's figure. Over the period under review, exports, however, showed a abrupt shrinkage.

In value terms, exports of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground soared to $376K in 2022. In general, exports, however, showed a relatively flat trend pattern.

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

1. Japan (25.4 tons)
2. United States (7.5 tons)
3. New Zealand (4.1 tons)
4. Canada (3.6 tons)
5. South Korea (2.8 tons)
6. Australia (2.6 tons)

Source: IndexBox Market Intelligence Platform