Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Azerbaijan - 2023

Contents:

1. Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Azerbaijan (CIF) - 2022
2. Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Azerbaijan (FOB) - 2022
3. Imports of Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Azerbaijan
4. Exports of Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Azerbaijan

Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Azerbaijan (CIF) - 2022

In 2022, the average import price for spices; cloves (whole fruit, cloves and stems), crushed or ground amounted to $6,810 per ton, picking up by 3.5% against the previous year. In general, the import price recorded a prominent expansion. The growth pace was the most rapid in 2017 when the average import price increased by 139% against the previous year. Over the period under review, average import prices attained the peak figure at $8,116 per ton in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

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 Turkey ($7,693 per ton), while the price for India amounted to $2,358 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iran (+29.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Azerbaijan (FOB) - 2022

In 2022, the average export price for spices; cloves (whole fruit, cloves and stems), crushed or ground amounted to $19,000 per ton, waning by -34.5% against the previous year. Overall, the export price recorded a precipitous slump. The export price peaked at $29,000 per ton in 2021, and then fell sharply in the following year.

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

From 2021 to 2022, the rate of growth in terms of prices for Qatar amounted to 0.0% per year.

Imports of Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Azerbaijan

In 2022, the amount of spices; cloves (whole fruit, cloves and stems), crushed or ground imported into Azerbaijan skyrocketed to 14 tons, jumping by 18% compared with the previous year's figure. Over the period under review, imports showed a significant increase. The pace of growth was the most pronounced in 2021 when imports increased by 2,237%. Imports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, imports of spices; cloves (whole fruit, cloves and stems), crushed or ground surged to $98K in 2022. Overall, imports enjoyed significant growth. The growth pace was the most rapid in 2021 with an increase of 1,795%. Over the period under review, imports of reached the peak figure in 2022 and are expected to retain growth in years to come.

Top Suppliers of Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground to Azerbaijan in 2022:

1. Turkey (12.1 tons)
2. India (2.4 tons)

Exports of Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Azerbaijan

Exports of spices; cloves (whole fruit, cloves and stems), crushed or ground from Azerbaijan contracted sharply to 1 kg in 2022, shrinking by -96.6% against the previous year. Overall, exports recorded a sharp setback.

In value terms, exports of spices; cloves (whole fruit, cloves and stems), crushed or ground dropped significantly to $19 in 2022. In general, exports saw a precipitous curtailment.

Top Export Markets for Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground from Azerbaijan in 2022:

1. Qatar (1.0 kg)

Source: IndexBox Market Intelligence Platform