Price for Spices; Nutmeg, Crushed or Ground in the UK - 2023
Contents:
- Price for Spices; Nutmeg, Crushed or Ground in the UK (CIF) - 2023
- Price for Spices; Nutmeg, Crushed or Ground in the UK (FOB) - 2022
- Imports of Spices; Nutmeg, Crushed or Ground in the UK
- Exports of Spices; Nutmeg, Crushed or Ground in the UK
Price for Spices; Nutmeg, Crushed or Ground in the UK (CIF) - 2023
The average import price for spices; nutmeg, crushed or ground stood at $10,619 per ton in May 2023, reducing by -5.1% against the previous month. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in February 2023 when the average import price increased by 23% m-o-m. Over the period under review, average import prices attained the peak figure at $11,185 per ton in April 2023, and then reduced in the following month.
Prices varied noticeably by the country of origin: the country with the highest price was Spain ($16,151 per ton), while the price for the Netherlands ($3,319 per ton) was amongst the lowest.
From May 2022 to May 2023, the most notable rate of growth in terms of prices was attained by India (+104.1%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Spices; Nutmeg, Crushed or Ground in the UK (FOB) - 2022
The average export price for spices; nutmeg, crushed or ground stood at $13,096 per ton in 2022, dropping by -7% against the previous year. Overall, the export price recorded a deep setback. The growth pace was the most rapid in 2017 when the average export price increased by 18%. Over the period under review, the average export prices hit record highs at $24,937 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 export markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($49,300 per ton), while the average price for exports to Brunei Darussalam ($4,125 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 (+15.0%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Spices; Nutmeg, Crushed or Ground in the UK
In 2022, after three years of growth, there was decline in purchases abroad of spices; nutmeg, crushed or ground, when their volume decreased by -4.2% to 640 tons. The total import volume increased at an average annual rate of +3.5% from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 10%.
In value terms, spices; nutmeg, crushed or ground imports expanded sharply to $6.3M in 2022. The total import value increased at an average annual rate of +7.7% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by 12%. Over the period under review, imports attained the peak figure in 2022 and are likely to see steady growth in years to come.
| Import of Spices; Nutmeg, Crushed or Ground in the UK (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 1,268 | 586 | 1,338 | 3,427 | 39.3% |
| Italy | 474 | 575 | 721 | 869 | 22.4% |
| Spain | 191 | 521 | 336 | 630 | 48.9% |
| Vietnam | 866 | 1,150 | 763 | 478 | -18.0% |
| France | 415 | 362 | 244 | 250 | -15.5% |
| Sri Lanka | 68.5 | 23.7 | 60.5 | 219 | 47.3% |
| Netherlands | 1,594 | 1,784 | 1,694 | 172 | -52.4% |
| Others | 145 | 632 | 714 | 228 | 16.3% |
| Total | 5,022 | 5,633 | 5,871 | 6,273 | 7.7% |
Top Suppliers of Spices; Nutmeg, Crushed or Ground to the UK in 2022:
- Indonesia (375.9 tons)
- Italy (96.8 tons)
- Spain (57.5 tons)
- Vietnam (37.7 tons)
- France (19.7 tons)
- Netherlands (18.9 tons)
- Sri Lanka (12.8 tons)
Exports of Spices; Nutmeg, Crushed or Ground in the UK
In 2022, exports of spices; nutmeg, crushed or ground from the UK soared to 53 tons, growing by 19% compared with 2021. The total export volume increased at an average annual rate of +8.8% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, spices; nutmeg, crushed or ground exports expanded sharply to $694K in 2022. In general, exports continue to indicate a relatively flat trend pattern. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Spices; Nutmeg, Crushed or Ground in the UK (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 283 | N/A | 55.8 | 212 | -9.2% |
| Netherlands | 28.9 | 16.5 | 141 | 199 | 90.2% |
| Ireland | 164 | 338 | 239 | 134 | -6.5% |
| United Arab Emirates | 0.8 | 5.3 | 7.2 | 38.3 | 263.1% |
| France | 21.4 | 4.0 | 32.0 | 22.7 | 2.0% |
| Falkland Islands (Malvinas) | N/A | 11.6 | 12.3 | 13.8 | 9.1% |
| Brunei Darussalam | N/A | 8.2 | 14.0 | 9.0 | 4.8% |
| Italy | 88.9 | 30.0 | 14.1 | 2.5 | -69.6% |
| Qatar | N/A | N/A | 38.8 | N/A | 0% |
| Others | 93.0 | 215 | 71.5 | 63.2 | -12.1% |
| Total | 679 | 628 | 626 | 694 | 0.7% |
Top Export Markets for Spices; Nutmeg, Crushed or Ground from the UK in 2022:
- United States (25.5 tons)
- Netherlands (10.2 tons)
- Ireland (5.6 tons)
- United Arab Emirates (3.1 tons)
- Falkland Islands (Malvinas) (2.6 tons)
- Brunei Darussalam (2.2 tons)
- France (1.0 tons)
- Italy (0.1 tons)
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This report provides an in-depth analysis of the market for nutmeg, mace and cardamom in the UK.
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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 UK.
4072
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
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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.
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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
8548
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.
3982
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,
