Price for Spices; Cardamoms, Neither Crushed Nor Ground in Sri Lanka - 2022

Contents:

1. Price for Spices; Cardamoms, Neither Crushed Nor Ground in Sri Lanka (FOB) - 2022
2. Price for Spices; Cardamoms, Neither Crushed Nor Ground in Sri Lanka (CIF) - 2022
3. Exports of Spices; Cardamoms, Neither Crushed Nor Ground in Sri Lanka
4. Imports of Spices; Cardamoms, Neither Crushed Nor Ground in Sri Lanka

Price for Spices; Cardamoms, Neither Crushed Nor Ground in Sri Lanka (FOB) - 2022

In 2022, the average export price for spices; cardamoms, neither crushed nor ground amounted to $35,122 per ton, jumping by 37% against the previous year. Overall, the export price saw a noticeable expansion. The pace of growth was the most pronounced in 2021 an increase of 73% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was France ($91,104 per ton), while the average price for exports to the United Arab Emirates ($17,174 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 India (+5.1%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Spices; Cardamoms, Neither Crushed Nor Ground in Sri Lanka (CIF) - 2022

The average import price for spices; cardamoms, neither crushed nor ground stood at $10,729 per ton in 2022, waning by -22% against the previous year. In general, the import price, however, saw a noticeable increase. The most prominent rate of growth was recorded in 2019 an increase of 42%. The import price peaked at $13,760 per ton in 2021, and then contracted markedly 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 India ($12,587 per ton), while the price for China amounted to $600 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+23.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports of Spices; Cardamoms, Neither Crushed Nor Ground in Sri Lanka

For the third consecutive year, Sri Lanka recorded decline in overseas shipments of spices; cardamoms, neither crushed nor ground, which decreased by -82.3% to 3.8 tons in 2022. Over the period under review, exports continue to indicate a precipitous slump. The smallest decline of -50% was in 2020.

In value terms, exports of spices; cardamoms, neither crushed nor ground shrank sharply to $135K in 2022. Overall, exports recorded a dramatic setback. The smallest decline of -36.9% was in 2020.

Top Export Markets for Spices; Cardamoms, Neither Crushed Nor Ground from Sri Lanka in 2022:

1. India (1743.0 kg)
2. Maldives (488.0 kg)
3. France (432.0 kg)
4. Australia (326.0 kg)
5. United States (293.0 kg)
6. Japan (166.0 kg)
7. Italy (95.0 kg)
8. United Arab Emirates (23.0 kg)

Imports of Spices; Cardamoms, Neither Crushed Nor Ground in Sri Lanka

For the third consecutive year, Sri Lanka recorded decline in overseas purchases of spices; cardamoms, neither crushed nor ground, which decreased by -97.8% to 129 kg in 2022. In general, imports saw a sharp decrease. The smallest decline of -47.3% was in 2020.

In value terms, imports of spices; cardamoms, neither crushed nor ground dropped notably to $1.4K in 2022. Overall, imports showed a sharp curtailment. The smallest decline of -45% was in 2020.

Top Suppliers of Spices; Cardamoms, Neither Crushed Nor Ground to Sri Lanka in 2022:

1. India (109.0 kg)
2. China (20.0 kg)

Source: IndexBox Market Intelligence Platform