Spices; Nutmeg Price in Sri Lanka - 2022
Contents:
- Spices; Nutmeg Price in Sri Lanka (CIF) - 2022
- Spices; Nutmeg Price in Sri Lanka (FOB) - 2022
- Spices; Nutmeg Imports in Sri Lanka
- Spices; Nutmeg Exports in Sri Lanka
Spices; Nutmeg Price in Sri Lanka (CIF) - 2022
The average spices; nutmeg import price stood at $194,520 per ton in 2022, dropping by -13.4% against the previous year. Overall, the import price, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2020 when the average import price increased by 32%. The import price peaked at $224,702 per ton in 2021, and then declined in the following year.
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 Japan ($327,279 per ton), while the price for Germany ($90,160 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+27.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Spices; Nutmeg Price in Sri Lanka (FOB) - 2022
In 2022, the average spices; nutmeg export price amounted to $2,648 per ton, picking up by 6.1% against the previous year. Overall, the export price, however, faced a abrupt descent. The most prominent rate of growth was recorded in 2013 an increase of 11% against the previous year. As a result, the export price attained the peak level of $10,052 per ton. From 2014 to 2022, the average export prices remained at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($13,354 per ton), while the average price for exports to Yemen ($162 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 the United Arab Emirates (+0.9%), while the prices for the other major destinations experienced a decline.
Spices; Nutmeg Imports in Sri Lanka
In 2022, purchases abroad of spices; nutmeg was finally on the rise to reach 3.1 tons after two years of decline. In general, imports, however, saw a abrupt shrinkage.
In value terms, spices; nutmeg imports contracted slightly to $605K in 2022. The total import value increased at an average annual rate of +3.9% from 2019 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 7.9% against the previous year. As a result, imports reached the peak of $628K, and then dropped modestly in the following year.
| Import of Spices; Nutmeg in Sri Lanka (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 463 | 508 | 556 | 542 | 5.4% |
| Japan | 65.9 | 66.0 | 65.9 | 58.6 | -3.8% |
| Germany | 9.9 | 7.9 | 6.3 | 4.5 | -23.1% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 539 | 582 | 628 | 605 | 3.9% |
Top Suppliers of Spices; Nutmeg to Sri Lanka in 2022:
- India (2.9 tons)
- Japan (0.2 tons)
- Germany (0.1 tons)
Spices; Nutmeg Exports in Sri Lanka
In 2022, shipments abroad of spices; nutmeg increased by 3.1% to 25 tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, recorded a pronounced descent.
In value terms, spices; nutmeg exports expanded markedly to $67K in 2022. Overall, exports, however, saw a abrupt downturn.
| Export of Spices; Nutmeg in Sri Lanka (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 21.3 | 17.4 | 14.2 | 15.0 | -11.0% |
| Singapore | 13.2 | 11.7 | 10.2 | 11.7 | -3.9% |
| United Arab Emirates | 14.6 | 12.2 | 10.2 | 11.1 | -8.7% |
| Bangladesh | 8.2 | 7.2 | 6.3 | 7.2 | -4.2% |
| Israel | 4.7 | 4.1 | 3.6 | 4.1 | -4.5% |
| Australia | 2.4 | 2.1 | 1.8 | 2.1 | -4.4% |
| United States | 3.5 | 2.7 | 2.0 | 1.9 | -18.4% |
| Guatemala | 2.0 | 1.7 | 1.5 | 1.7 | -5.3% |
| Pakistan | 2.2 | 1.7 | 1.2 | 1.2 | -18.3% |
| Palestine | 1.3 | 1.2 | 1.0 | 1.1 | -5.4% |
| Egypt | 1.6 | 1.2 | 1.0 | 1.0 | -14.5% |
| Spain | 1.3 | 1.0 | 0.7 | 0.7 | -18.6% |
| Yemen | 0.4 | 0.3 | 0.2 | 0.2 | -20.6% |
| Others | 10.3 | 8.8 | 7.6 | 8.4 | -6.6% |
| Total | 86.9 | 73.2 | 61.6 | 67.4 | -8.1% |
Top Export Markets for Spices; Nutmeg from Sri Lanka in 2022:
- Bangladesh (11.0 tons)
- India (3.9 tons)
- Singapore (1.9 tons)
- Palestine (1.4 tons)
- Pakistan (1.2 tons)
- Yemen (1.0 tons)
- United Arab Emirates (0.8 tons)
- Spain (0.8 tons)
- Israel (0.7 tons)
- United States (0.7 tons)
- Guatemala (0.6 tons)
- Australia (0.4 tons)
- Egypt (0.3 tons)
875
This report provides an in-depth analysis of the market for nutmeg, mace and cardamom in Sri Lanka.
4100
This report provides an in-depth analysis of the global market for nutmeg, mace and cardamom.
875
This report provides an in-depth analysis of the market for nutmeg, mace and cardamom in Sri Lanka.
4100
This report provides an in-depth analysis of the global market for nutmeg, mace and cardamom.
3876
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
8560
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.
3995
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,
3876
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
8560
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.
3995
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,
