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

Contents:

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

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

The average import price for spices; cloves (whole fruit, cloves and stems), crushed or ground stood at $5,020 per ton in 2022, with an increase of 4.1% against the previous year. Overall, the import price saw a remarkable increase. The most prominent rate of growth was recorded in 2016 an increase of 71% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in years to come.

As there is only one major supplying country, the average price level is determined by prices for India.

From 2012 to 2022, the rate of growth in terms of prices for Indonesia amounted to +144.8% per year.

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

The average export price for spices; cloves (whole fruit, cloves and stems), crushed or ground stood at $5,488 per ton in 2022, waning by -33.6% against the previous year. In general, the export price, however, enjoyed a notable expansion. The most prominent rate of growth was recorded in 2015 an increase of 156%. Over the period under review, the average export prices hit record highs at $20,667 per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the rate of growth in terms of prices for Brunei Darussalam amounted to -0.6% per year.

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

In 2022, after two years of decline, there was significant growth in supplies from abroad of spices; cloves (whole fruit, cloves and stems), crushed or ground, when their volume increased by 149% to 15 tons. Over the period under review, imports, however, showed a precipitous contraction.

In value terms, imports of spices; cloves (whole fruit, cloves and stems), crushed or ground surged to $74K in 2022. In general, imports, however, faced a dramatic decline.

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

1. India (14.8 tons)

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

In 2022, exports of spices; cloves (whole fruit, cloves and stems), crushed or ground from Bangladesh skyrocketed to 215 kg, growing by 42% against 2021. In general, exports enjoyed a strong expansion. The growth pace was the most rapid in 2021 when exports increased by 78% against the previous year. Over the period under review, the exports of attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, exports of spices; cloves (whole fruit, cloves and stems), crushed or ground declined to $1.2K in 2022. The total export value increased at an average annual rate of +3.9% from 2019 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The growth pace was the most rapid in 2021 when exports increased by 12%. As a result, the exports attained the peak of $1.2K, and then contracted in the following year.

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

1. Brunei Darussalam (156.0 kg)

Source: IndexBox Market Intelligence Platform