Price for Spices; Nutmeg, Crushed or Ground in Canada - 2023

Price for Spices; Nutmeg, Crushed or Ground in Canada (CIF) - 2022

In 2022, the average import price for spices; nutmeg, crushed or ground amounted to $9,430 per ton, with a decrease of -8.3% against the previous year. Over the period under review, the import price saw a abrupt descent. The growth pace was the most rapid in 2015 an increase of 315%. The import price peaked at $101,525 per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($14,671 per ton), while the price for Greece ($5,444 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (-1.5%), while the prices for the other major suppliers experienced a decline.

Price for Spices; Nutmeg, Crushed or Ground in Canada (FOB) - 2022

In 2022, the average export price for spices; nutmeg, crushed or ground amounted to $9,468 per ton, picking up by 22% against the previous year. Overall, the export price, however, saw a noticeable decline. The export price peaked at $13,883 per ton in 2012; however, from 2013 to 2022, the export prices stood 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 States ($9,779 per ton), while the average price for exports to Sri Lanka amounted to $3,009 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (-3.4%).

Imports of Spices; Nutmeg, Crushed or Ground in Canada

For the fourth year in a row, Canada recorded growth in overseas purchases of spices; nutmeg, crushed or ground, which increased by 100% to 416 tons in 2022. Over the period under review, imports recorded a significant increase. 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 $3.9M in 2022. Overall, imports enjoyed a significant increase. 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 Canada (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Indonesia	976	1,139	1,301	2,494	36.7%
Grenada	N/A	88.4	159	398	112.2%
India	234	181	308	381	17.6%
Vietnam	14.1	92.6	143	251	161.1%
Greece	N/A	N/A	N/A	136	0%
Nigeria	N/A	0.3	0.3	97.6	1703.7%
Sri Lanka	40.3	28.4	58.6	61.8	15.3%
United States	200	98.3	70.3	40.2	-41.4%
Others	70.3	113	101	61.3	-4.5%
Total	1,535	1,741	2,141	3,921	36.7%

Top Suppliers of Spices; Nutmeg, Crushed or Ground to Canada in 2022:

Indonesia (228.7 tons)
Grenada (72.1 tons)
India (42.5 tons)
Greece (25.0 tons)
Vietnam (24.9 tons)
Nigeria (10.4 tons)
Sri Lanka (5.5 tons)
United States (2.7 tons)

Exports of Spices; Nutmeg, Crushed or Ground in Canada

For the fourth consecutive year, Canada recorded growth in shipments abroad of spices; nutmeg, crushed or ground, which increased by 23% to 229 tons in 2022. Over the period under review, exports continue to indicate a significant increase. The pace of growth was the most pronounced in 2021 when exports increased by 39%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, spices; nutmeg, crushed or ground exports soared to $2.2M in 2022. In general, exports saw a significant expansion. The pace of growth was the most pronounced in 2021 when exports increased by 54% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the near future.