Price for Spices; Nutmeg, Crushed or Ground in Hong Kong SAR - 2023
Contents:
- Price for Spices; Nutmeg, Crushed or Ground in Hong Kong SAR (FOB) - 2022
- Price for Spices; Nutmeg, Crushed or Ground in Hong Kong SAR (CIF) - 2022
- Exports of Spices; Nutmeg, Crushed or Ground in Hong Kong SAR
- Imports of Spices; Nutmeg, Crushed or Ground in Hong Kong SAR
Price for Spices; Nutmeg, Crushed or Ground in Hong Kong SAR (FOB) - 2022
In 2022, the average export price for spices; nutmeg, crushed or ground amounted to $13,006 per ton, jumping by 25% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the average export price increased by 194% against the previous year. The export price peaked at $22,840 per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.
There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Canada ($34,900 per ton), while the average price for exports to the Philippines amounted to $12,929 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+9.0%).
Price for Spices; Nutmeg, Crushed or Ground in Hong Kong SAR (CIF) - 2022
In 2022, the average import price for spices; nutmeg, crushed or ground amounted to $29,545 per ton, picking up by 7.9% against the previous year. Overall, the import price enjoyed measured growth. The most prominent rate of growth was recorded in 2018 when the average import price increased by 197% against the previous year. The import price peaked at $32,174 per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.
As there is only one major supplying country, the average price level is determined by prices for the United States.
From 2012 to 2022, the rate of growth in terms of prices for Austria amounted to +1.9% per year.
Exports of Spices; Nutmeg, Crushed or Ground in Hong Kong SAR
In 2022, overseas shipments of spices; nutmeg, crushed or ground decreased by -23.2% to 2.9 tons, falling for the second year in a row after two years of growth. Over the period under review, exports, however, showed a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 207% against the previous year. As a result, the exports reached the peak of 4.6 tons. From 2021 to 2022, the growth of the exports failed to regain momentum.
In value terms, spices; nutmeg, crushed or ground exports contracted to $37K in 2022. Overall, total exports indicated significant growth from 2019 to 2022: its value increased at an average annual rate of +24.6% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +93.4% against 2019 indices. The growth pace was the most rapid in 2020 with an increase of 85%.
| Export of Spices; Nutmeg, Crushed or Ground in Hong Kong SAR (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Philippines | 19.0 | 29.8 | 18.3 | 37.0 | 24.9% |
| Indonesia | N/A | N/A | 8.4 | N/A | 0% |
| Democratic Republic of the Congo | N/A | 5.7 | N/A | N/A | 0% |
| Others | 0.3 | 0.3 | 12.3 | 0.3 | 0.0% |
| Total | 19.3 | 35.8 | 39.0 | 37.4 | 24.7% |
Top Export Markets for Spices; Nutmeg, Crushed or Ground from Hong Kong SAR in 2022:
- Philippines (2.9 tons)
Imports of Spices; Nutmeg, Crushed or Ground in Hong Kong SAR
In 2022, approx. 1.1 tons of spices; nutmeg, crushed or ground were imported into Hong Kong SAR; with an increase of 77% against the year before. In general, total imports indicated a strong increase from 2019 to 2022: its volume increased at an average annual rate of +13.1% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, spices; nutmeg, crushed or ground imports soared to $31K in 2022. Over the period under review, total imports indicated a prominent expansion from 2019 to 2022: its value increased at an average annual rate of +10.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Spices; Nutmeg, Crushed or Ground in Hong Kong SAR (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 5.4 | 14.3 | 9.1 | 31.4 | 79.8% |
| Malaysia | 0.2 | 0.4 | 0.3 | N/A | 22.5% |
| Indonesia | 13.9 | 7.2 | 0.9 | N/A | -74.6% |
| Singapore | 1.2 | 2.2 | 0.3 | N/A | -50.0% |
| Taiwan (Chinese) | 2.3 | 3.8 | 2.8 | N/A | 10.3% |
| Others | 0.6 | 0.7 | 3.1 | N/A | 127.3% |
| Total | 23.6 | 28.7 | 16.5 | 31.4 | 10.0% |
Top Suppliers of Spices; Nutmeg, Crushed or Ground to Hong Kong SAR in 2022:
- United States (1.1 tons)
402
This report provides an in-depth analysis of the market for nutmeg, mace and cardamom in Hong Kong SAR, China.
4068
This report provides an in-depth analysis of the global market for nutmeg, mace and cardamom.
402
This report provides an in-depth analysis of the market for nutmeg, mace and cardamom in Hong Kong SAR, China.
4068
This report provides an in-depth analysis of the global market for nutmeg, mace and cardamom.
3857
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
8546
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.
3980
Guatemala continued its dominance in the global trade of nutmeg, mace and cardamom. In 2014, Guatemala exported X thousand tons of nutmeg, mace and cardamoms totaling X USD, X% over the previous year. Its primary trading partner was Saudi Arabia,
3857
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
8546
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.
3980
Guatemala continued its dominance in the global trade of nutmeg, mace and cardamom. In 2014, Guatemala exported X thousand tons of nutmeg, mace and cardamoms totaling X USD, X% over the previous year. Its primary trading partner was Saudi Arabia,
