Price for Spices; Nutmeg, Crushed or Ground in the Philippines - 2023
Contents:
- Price for Spices; Nutmeg, Crushed or Ground in the Philippines (CIF) - 2022
- Imports of Spices; Nutmeg, Crushed or Ground in the Philippines
Price for Spices; Nutmeg, Crushed or Ground in the Philippines (CIF) - 2022
The average import price for spices; nutmeg, crushed or ground stood at $9,964 per ton in 2022, growing by 13% against the previous year. Over the last five-year period, it increased at an average annual rate of +3.8%. The most prominent rate of growth was recorded in 2018 when the average import price increased by 29% against the previous year. As a result, import price reached the peak level of $10,682 per ton. From 2019 to 2022, the average import prices remained at a lower figure.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($9,964 per ton), while the price for Vietnam ($9,961 per ton) was amongst the lowest.
From 2017 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+70.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Imports of Spices; Nutmeg, Crushed or Ground in the Philippines
For the fourth year in a row, the Philippines recorded growth in purchases abroad of spices; nutmeg, crushed or ground, which increased by 16% to 29 tons in 2022. The total import volume increased at an average annual rate of +13.7% over the period from 2019 to 2022; however, the trend pattern 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 surged to $293K in 2022. In general, total imports indicated resilient growth from 2019 to 2022: its value increased at an average annual rate of +18.0% 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 increased by +64.1% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Spices; Nutmeg, Crushed or Ground in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 150 | 146 | 110 | 144 | -1.4% |
| Indonesia | N/A | N/A | 70.1 | 138 | 96.9% |
| Vietnam | 9.2 | 11.1 | 20.4 | 7.4 | -7.0% |
| Hong Kong SAR | 16.2 | 27.3 | 20.4 | N/A | 12.2% |
| Others | 2.9 | 10.6 | 1.0 | 2.5 | -4.8% |
| Total | 178 | 195 | 222 | 293 | 18.1% |
Top Suppliers of Spices; Nutmeg, Crushed or Ground to the Philippines in 2022:
- India (14.5 tons)
- Indonesia (13.9 tons)
- Vietnam (0.7 tons)
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This report provides an in-depth analysis of the market for nutmeg, mace and cardamom in the Philippines.
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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 the Philippines.
4152
This report provides an in-depth analysis of the global market for nutmeg, mace and cardamom.
3899
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
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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.
4025
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,
3899
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
8591
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.
4025
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,
