Price for Spices; Cloves (Whole Fruit, Cloves and Stems) in Singapore - 2022
Contents:
- Price for Spices; Cloves (Whole Fruit, Cloves and Stems) in Singapore (CIF) - 2022
- Price for Spices; Cloves (Whole Fruit, Cloves and Stems) in Singapore (FOB) - 2022
- Imports of Spices; Cloves (Whole Fruit, Cloves and Stems) in Singapore
- Exports of Spices; Cloves (Whole Fruit, Cloves and Stems) in Singapore
Price for Spices; Cloves (Whole Fruit, Cloves and Stems) in Singapore (CIF) - 2022
The average import price for spices; cloves (whole fruit, cloves and stems) stood at $28,916 per ton in 2022, declining by -7.7% against the previous year. Overall, the import price, however, posted strong growth. The growth pace was the most rapid in 2014 when the average import price increased by 18% against the previous year. Over the period under review, average import prices attained the maximum at $31,312 per ton in 2021, and then fell in the following year.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Brazil ($611,086 per ton), while the price for Tanzania ($8,284 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+54.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Spices; Cloves (Whole Fruit, Cloves and Stems) in Singapore (FOB) - 2022
The average export price for spices; cloves (whole fruit, cloves and stems) stood at $11,140 per ton in 2022, remaining relatively unchanged against the previous year. Over the last decade, it increased at an average annual rate of +2.3%. The pace of growth was the most pronounced in 2013 when the average export price increased by 25% against the previous year. The export price peaked in 2022 and is likely to see steady growth in years to come.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Malaysia ($54,898 per ton), while the average price for exports to Nigeria ($483 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 Malaysia (+10.9%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Spices; Cloves (Whole Fruit, Cloves and Stems) in Singapore
In 2022, after three years of growth, there was decline in overseas purchases of spices; cloves (whole fruit, cloves and stems), when their volume decreased by -0.7% to 35K tons. Over the period under review, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 1.5% against the previous year. As a result, imports reached the peak of 35K tons, leveling off in the following year.
In value terms, imports of spices; cloves (whole fruit, cloves and stems) dropped to $1B in 2022. The total import value increased at an average annual rate of +9.7% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 20% against the previous year. As a result, imports attained the peak of $1.1B, and then shrank in the following year.
| Import of Spices; Cloves (Whole Fruit, Cloves and Stems) in Singapore (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Madagascar | 643 | 773 | 928 | 851 | 9.8% |
| Tanzania | 38.0 | 45.7 | 54.9 | 50.3 | 9.8% |
| Others | 79.2 | 94.1 | 112 | 102 | 8.8% |
| Total | 761 | 913 | 1,095 | 1,004 | 9.7% |
Top Suppliers of Spices; Cloves (Whole Fruit, Cloves and Stems) to Singapore in 2022:
- Madagascar (28.4K tons)
- Tanzania (6.1K tons)
Exports of Spices; Cloves (Whole Fruit, Cloves and Stems) in Singapore
In 2022, after two years of decline, there was significant growth in shipments abroad of spices; cloves (whole fruit, cloves and stems), when their volume increased by 12% to 87 tons. Over the period under review, exports, however, faced a abrupt slump.
In value terms, exports of spices; cloves (whole fruit, cloves and stems) rose significantly to $969K in 2022. Overall, exports, however, recorded a abrupt slump.
| Export of Spices; Cloves (Whole Fruit, Cloves and Stems) in Singapore (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Malaysia | 423 | 353 | 293 | 339 | -7.1% |
| Saudi Arabia | 198 | 166 | 138 | 160 | -6.9% |
| Japan | 179 | 153 | 131 | 155 | -4.7% |
| Bangladesh | 136 | 106 | 81.7 | 88.2 | -13.4% |
| Vietnam | 152 | 111 | 80.0 | 81.0 | -18.9% |
| India | 81.2 | 52.8 | 34.1 | 30.8 | -27.6% |
| Pakistan | 15.0 | 10.3 | 7.0 | 6.7 | -23.6% |
| Turkey | 5.4 | 3.5 | 2.3 | 2.1 | -27.0% |
| Others | 157 | 122 | 95.6 | 106 | -12.3% |
| Total | 1,346 | 1,077 | 862 | 969 | -10.4% |
Top Export Markets for Spices; Cloves (Whole Fruit, Cloves and Stems) from Singapore in 2022:
- India (26.3 tons)
- Saudi Arabia (16.8 tons)
- Japan (8.9 tons)
- Malaysia (6.2 tons)
- Vietnam (5.8 tons)
- Bangladesh (5.4 tons)
- Pakistan (4.9 tons)
- Turkey (2.0 tons)
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This report provides an in-depth analysis of the clove market in Singapore.
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This report provides an in-depth analysis of the global clove market.
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This report provides an in-depth analysis of the clove market in Singapore.
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This report provides an in-depth analysis of the global clove market.
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Global clove consumption amounted to X thousand tons in 2015, lowering by -X% against the previous year level.
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Global clove exports amounted to X thousand tons in 2015, growing by +X% against the previous year level.
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Global clove imports amounted to X thousand tons in 2015, falling by -X% against the previous year level.
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In 2015, the country with the largest volume of the clove output was Indonesia (X thousand tons), accounting for X% of global production.
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Singapore dominates in the global clove trade. In 2014, Singapore exported X thousand tons of сlove totaling X million USD, X times over the previous year. Its primary trading partner was Malaysia, where it supplied X% of its total сlove exports
3167
Global clove consumption amounted to X thousand tons in 2015, lowering by -X% against the previous year level.
5167
Global clove exports amounted to X thousand tons in 2015, growing by +X% against the previous year level.
4734
Global clove imports amounted to X thousand tons in 2015, falling by -X% against the previous year level.
6757
In 2015, the country with the largest volume of the clove output was Indonesia (X thousand tons), accounting for X% of global production.
1959
Singapore dominates in the global clove trade. In 2014, Singapore exported X thousand tons of сlove totaling X million USD, X times over the previous year. Its primary trading partner was Malaysia, where it supplied X% of its total сlove exports
