Price for Spices; Mace, Crushed or Ground in Singapore - 2022
Contents:
- Price for Spices; Mace, Crushed or Ground in Singapore (CIF) - 2022
- Price for Spices; Mace, Crushed or Ground in Singapore (FOB) - 2022
- Imports of Spices; Mace, Crushed or Ground in Singapore
- Exports of Spices; Mace, Crushed or Ground in Singapore
Price for Spices; Mace, Crushed or Ground in Singapore (CIF) - 2022
In 2022, the average import price for spices; mace, crushed or ground amounted to $10,357 per ton, flattening at the previous year. In general, the import price showed a abrupt slump. The pace of growth appeared the most rapid in 2018 an increase of 49%. Over the period under review, average import prices hit record highs at $39,767 per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.
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 India ($33,245 per ton), while the price for Indonesia ($8,378 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (-0.5%), while the prices for the other major suppliers experienced a decline.
Price for Spices; Mace, Crushed or Ground in Singapore (FOB) - 2022
In 2022, the average export price for spices; mace, crushed or ground amounted to $17,316 per ton, growing by 2.3% against the previous year. Overall, the export price continues to indicate a moderate increase. The most prominent rate of growth was recorded in 2017 an increase of 137% against the previous year. As a result, the export price attained the peak level of $34,986 per ton. From 2018 to 2022, the average export prices remained at a somewhat lower figure.
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 Brunei Darussalam ($22,433 per ton), while the average price for exports to Indonesia ($10,783 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 Brunei Darussalam (+9.8%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Spices; Mace, Crushed or Ground in Singapore
After three years of growth, supplies from abroad of spices; mace, crushed or ground decreased by -23.6% to 9.5 tons in 2022. Over the period under review, imports, however, continue to indicate a significant increase. The pace of growth was the most pronounced in 2020 when imports increased by 5,179% against the previous year.
In value terms, spices; mace, crushed or ground imports dropped notably to $98K in 2022. Overall, imports, however, posted a significant expansion. The growth pace was the most rapid in 2020 with an increase of 3,346% against the previous year.
| Import of Spices; Mace, Crushed or Ground in Singapore (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 0.9 | 57.7 | 101 | 70.6 | 328.1% |
| Germany | 1.0 | 6.8 | 8.7 | 10.0 | 115.4% |
| India | 0.1 | 5.9 | 9.5 | 6.6 | 304.1% |
| Others | 0.1 | 1.2 | 10.0 | 11.0 | 379.1% |
| Total | 2.1 | 71.5 | 130 | 98.2 | 260.3% |
Top Suppliers of Spices; Mace, Crushed or Ground to Singapore in 2022:
- Indonesia (8.4 tons)
- Germany (0.4 tons)
- India (0.2 tons)
Exports of Spices; Mace, Crushed or Ground in Singapore
For the fourth year in a row, Singapore recorded growth in overseas shipments of spices; mace, crushed or ground, which increased by 45% to 9.3 tons in 2022. Over the period under review, exports showed a significant expansion. The pace of growth was the most pronounced in 2020 with an increase of 2,157%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the immediate term.
In value terms, spices; mace, crushed or ground exports surged to $161K in 2022. Overall, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 2,942%. Over the period under review, the exports attained the maximum in 2022 and are likely to see gradual growth in the immediate term.
| Export of Spices; Mace, Crushed or Ground in Singapore (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Fiji | N/A | 0.9 | 1.7 | 99.3 | 950.4% |
| Malaysia | N/A | 0.5 | 0.7 | 41.9 | 815.4% |
| Brunei Darussalam | N/A | 0.3 | 0.3 | 17.6 | 665.9% |
| Indonesia | N/A | N/A | N/A | 1.9 | 0% |
| South Africa | N/A | 22.7 | 106 | N/A | 367.0% |
| Others | 0.7 | 0.1 | N/A | 0.3 | -24.6% |
| Total | 0.8 | 24.5 | 109 | 161 | 486.0% |
Top Export Markets for Spices; Mace, Crushed or Ground from Singapore in 2022:
- Fiji (5.9 tons)
- Malaysia (2.4 tons)
- Brunei Darussalam (0.8 tons)
- Indonesia (0.2 tons)
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This report provides an in-depth analysis of the market for nutmeg, mace and cardamom in Singapore.
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This report provides an in-depth analysis of the global market for nutmeg, mace and cardamom.
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This report provides an in-depth analysis of the market for nutmeg, mace and cardamom in Singapore.
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This report provides an in-depth analysis of the global market for nutmeg, mace and cardamom.
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In 2016, the nutmeg, mace and cardamom market peaked at X tons. Over the period from 2007 to 2016, consumption expanded with an annual average rate of growth of +X%. Following a slight decline in consumption from 2009-2010, the nutmeg, mace and
8549
In 2015, the countries with the highest levels of production in 2015 were Guatemala (X thousand tons), Indonesia (X thousand tons), India (X thousand tons), together accounting for X% of total output.
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