Price for Spices; Cardamoms, Crushed or Ground in India - 2023
Contents:
- Price for Spices; Cardamoms, Crushed or Ground in India (FOB) - 2022
- Price for Spices; Cardamoms, Crushed or Ground in India (CIF) - 2023
- Exports of Spices; Cardamoms, Crushed or Ground in India
- Imports of Spices; Cardamoms, Crushed or Ground in India
Price for Spices; Cardamoms, Crushed or Ground in India (FOB) - 2022
The average export price for spices; cardamoms, crushed or ground stood at $18,955 per ton in 2022, increasing by 2.8% against the previous year. Over the period under review, export price indicated a perceptible expansion from 2013 to 2022: its price increased at an average annual rate of +4.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, spices; cardamoms, crushed or ground export price decreased by -10.4% against 2020 indices. The pace of growth appeared the most rapid in 2020 an increase of 54% against the previous year. As a result, the export price attained the peak level of $21,166 per ton. From 2021 to 2022, the average 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 Saudi Arabia ($32,142 per ton), while the average price for exports to Vietnam ($2,379 per ton) was amongst the lowest.
From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Iraq (+18.7%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Spices; Cardamoms, Crushed or Ground in India (CIF) - 2023
In July 2023, the average import price for spices; cardamoms, crushed or ground amounted to $7,091 per ton, increasing by 11% against the previous month. Over the period under review, the import price, however, saw a abrupt shrinkage. Over the period under review, average import prices attained the peak figure at $27,598 per ton in August 2022; however, from September 2022 to July 2023, import prices failed to regain momentum.
As there is only one major supplying country, the average price level is determined by prices for Guatemala.
From August 2022 to July 2023, the rate of growth in terms of prices for Guatemala amounted to +3.6% per month.
Exports of Spices; Cardamoms, Crushed or Ground in India
In 2022, exports of spices; cardamoms, crushed or ground from India dropped to 608 tons, which is down by -14.7% against the year before. The total export volume increased at an average annual rate of +3.0% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by 40%. As a result, the exports attained the peak of 712 tons, and then contracted in the following year.
In value terms, spices; cardamoms, crushed or ground exports fell to $12M in 2022. Over the period under review, total exports indicated a remarkable increase from 2019 to 2022: its value increased at an average annual rate of +14.5% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +50.1% against 2019 indices. The pace of growth appeared the most rapid in 2020 with an increase of 40% against the previous year.
| Export of Spices; Cardamoms, Crushed or Ground in India (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 4,052 | 5,184 | 4,148 | 6,947 | 19.7% |
| United Arab Emirates | 462 | 510 | 4,891 | 712 | 15.5% |
| Kuwait | 43.7 | 364 | 408 | 643 | 145.0% |
| Canada | 456 | 1,158 | 666 | 427 | -2.2% |
| Austria | N/A | 95.6 | 10.8 | 414 | 108.1% |
| Australia | 456 | 548 | 271 | 385 | -5.5% |
| Malaysia | 174 | 596 | 390 | 271 | 15.9% |
| Nepal | 149 | 409 | 187 | 184 | 7.3% |
| Vietnam | 26.2 | 15.2 | 60.0 | 57.1 | 29.7% |
| Iraq | 134 | N/A | 162 | 46.5 | -29.7% |
| Others | 1,717 | 1,852 | 1,938 | 1,428 | -6.0% |
| Total | 7,671 | 10,732 | 13,132 | 11,516 | 14.5% |
Top Export Markets for Spices; Cardamoms, Crushed or Ground from India in 2022:
- United States (249.3 tons)
- United Arab Emirates (71.8 tons)
- Nepal (44.7 tons)
- Kuwait (39.2 tons)
- Canada (24.0 tons)
- Vietnam (24.0 tons)
- Australia (22.8 tons)
- Austria (18.0 tons)
- Iraq (16.0 tons)
- Malaysia (13.5 tons)
Imports of Spices; Cardamoms, Crushed or Ground in India
In 2022, spices; cardamoms, crushed or ground imports into India fell slightly to 15 tons, waning by -3.1% against the previous year's figure. In general, imports continue to indicate a dramatic downturn.
In value terms, spices; cardamoms, crushed or ground imports fell sharply to $213K in 2022. Over the period under review, imports continue to indicate a sharp setback.
| Import of Spices; Cardamoms, Crushed or Ground in India (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Arab Emirates | 327 | 488 | 353 | 121 | -28.2% |
| South Korea | N/A | N/A | N/A | 32.1 | 0% |
| Italy | N/A | N/A | N/A | 26.0 | 0% |
| Sri Lanka | N/A | 3.8 | 0.9 | 20.1 | 130.0% |
| Bahrain | N/A | N/A | N/A | 6.1 | 0% |
| Tanzania | N/A | N/A | N/A | 5.4 | 0% |
| Guatemala | 3,230 | 652 | N/A | N/A | -79.8% |
| Netherlands | 524 | N/A | N/A | N/A | 0% |
| Others | 122 | 12.2 | 0.9 | 2.1 | -74.2% |
| Total | 4,203 | 1,157 | 355 | 213 | -63.0% |
Top Suppliers of Spices; Cardamoms, Crushed or Ground to India in 2022:
- United Arab Emirates (12.0 tons)
- South Korea (1.5 tons)
- Italy (0.9 tons)
- Bahrain (0.3 tons)
- Tanzania (0.3 tons)
- Sri Lanka (0.3 tons)
765
This report provides an in-depth analysis of the market for nutmeg, mace and cardamom in India.
3988
This report provides an in-depth analysis of the global market for nutmeg, mace and cardamom.
765
This report provides an in-depth analysis of the market for nutmeg, mace and cardamom in India.
3988
This report provides an in-depth analysis of the global market for nutmeg, mace and cardamom.
3773
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
8417
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,
3773
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
8417
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.
3860
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,
