Price for Spices; Cloves (Whole Fruit, Cloves and Stems) in Tanzania - 2022

Contents:

1. Price for Spices; Cloves (Whole Fruit, Cloves and Stems) in Tanzania (FOB) - 2022
2. Price for Spices; Cloves (Whole Fruit, Cloves and Stems) in Tanzania (CIF) - 2022
3. Exports of Spices; Cloves (Whole Fruit, Cloves and Stems) in Tanzania
4. Imports of Spices; Cloves (Whole Fruit, Cloves and Stems) in Tanzania

Price for Spices; Cloves (Whole Fruit, Cloves and Stems) in Tanzania (FOB) - 2022

In 2022, the average export price for spices; cloves (whole fruit, cloves and stems) amounted to $20,719 per ton, declining by -3.9% against the previous year. Over the period under review, export price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +7.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for spices; cloves (whole fruit, cloves and stems) increased by +104.0% against 2012 indices. The growth pace was the most rapid in 2015 an increase of 8.9% against the previous year. Over the period under review, the average export prices reached the peak figure at $21,558 per ton in 2021, and then reduced slightly in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was India ($28,176 per ton), while the average price for exports to Singapore amounted to $7,212 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (+6.8%).

Price for Spices; Cloves (Whole Fruit, Cloves and Stems) in Tanzania (CIF) - 2022

The average import price for spices; cloves (whole fruit, cloves and stems) stood at $5,087 per ton in 2022, picking up by 6.6% against the previous year. Over the last decade, it increased at an average annual rate of +1.0%. The pace of growth appeared the most rapid in 2013 an increase of 10%. Over the period under review, average import prices attained the maximum in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($6,986 per ton), while the price for the United Arab Emirates ($363 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+12.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Exports of Spices; Cloves (Whole Fruit, Cloves and Stems) in Tanzania

After three years of growth, overseas shipments of spices; cloves (whole fruit, cloves and stems) decreased by -1.7% to 4.9K tons in 2022. The total export volume increased at an average annual rate of +1.7% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when exports increased by 3.4%. As a result, the exports attained the peak of 5K tons, and then shrank slightly in the following year.

In value terms, exports of spices; cloves (whole fruit, cloves and stems) declined to $101M in 2022. The total export value increased at an average annual rate of +6.1% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of 12% against the previous year.

Top Export Markets for Spices; Cloves (Whole Fruit, Cloves and Stems) from Tanzania in 2022:

1. India (3.0K tons)
2. Singapore (1.8K tons)

Imports of Spices; Cloves (Whole Fruit, Cloves and Stems) in Tanzania

In 2022, the amount of spices; cloves (whole fruit, cloves and stems) imported into Tanzania declined to 358 kg, dropping by -6.3% on 2021. In general, imports saw a deep slump. The smallest decline of -3.5% was in 2021.

In value terms, imports of spices; cloves (whole fruit, cloves and stems) dropped slightly to $1.8K in 2022. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by 0.3%.

Top Suppliers of Spices; Cloves (Whole Fruit, Cloves and Stems) to Tanzania in 2022:

1. India (182.0 kg)
2. United Arab Emirates (102.0 kg)
3. United Kingdom (74.0 kg)

Source: IndexBox Market Intelligence Platform