Spices; Nutmeg Price in Ethiopia - 2022

Spices; Nutmeg Price in Ethiopia (CIF) - 2022

In 2022, the average spices; nutmeg import price amounted to $2,245 per ton, dropping by -1.9% against the previous year. Over the last decade, it increased at an average annual rate of +4.5%. The pace of growth was the most pronounced in 2013 an increase of 16% against the previous year. The import price peaked at $2,288 per ton in 2021, and then dropped modestly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Sri Lanka ($2,547 per ton), while the price for China ($1,197 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sri Lanka (+9.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Spices; Nutmeg Price in Ethiopia (FOB) - 2022

In 2022, the average spices; nutmeg export price amounted to $6,300 per ton, waning by -3.1% against the previous year. In general, export price indicated a strong increase from 2012 to 2022: its price increased at an average annual rate of +6.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, spices; nutmeg export price increased by +93.1% against 2012 indices. The most prominent rate of growth was recorded in 2013 when the average export price increased by 23% against the previous year. The export price peaked at $6,500 per ton in 2021, and then fell slightly in the following year.

As there is only one major export destination, the average price level is determined by prices for Canada.

From 2012 to 2022, the rate of growth in terms of prices for Canada amounted to +6.8% per year.

Spices; Nutmeg Imports in Ethiopia

In 2022, after three years of growth, there was decline in supplies from abroad of spices; nutmeg, when their volume decreased by -1.8% to 56 tons. The total import volume increased at an average annual rate of +1.9% over the period from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 3.8%. As a result, imports reached the peak of 57 tons, and then dropped in the following year.

In value terms, spices; nutmeg imports shrank slightly to $126K in 2022. The total import value increased at an average annual rate of +3.9% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when imports increased by 8% against the previous year.

Import of Spices; Nutmeg in Ethiopia (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
India	94.6	101	108	103	2.9%
Sri Lanka	8.3	9.6	11.2	11.5	11.5%
China	9.3	10.2	11.1	10.9	5.4%
Others	N/A	N/A	N/A	N/A	0%
Total	112	121	131	126	4.0%

Top Suppliers of Spices; Nutmeg to Ethiopia in 2022:

India (42.4 tons)
China (9.1 tons)
Sri Lanka (4.5 tons)

Spices; Nutmeg Exports in Ethiopia

In 2022, approx. 10 kg of spices; nutmeg were exported from Ethiopia; therefore, remained relatively stable against the previous year. Over the period under review, exports saw a relatively flat trend pattern. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, spices; nutmeg exports dropped modestly to $63 in 2022. The total export value increased at an average annual rate of +2.8% 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 2021 when exports increased by 6.6% against the previous year. As a result, the exports reached the peak of $65, and then contracted in the following year.