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

Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Hungary (CIF) - 2022
Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Hungary (FOB) - 2022
Imports of Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Hungary
Exports of Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Hungary

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

In 2022, the average import price for spices; cloves (whole fruit, cloves and stems), crushed or ground amounted to $10,565 per ton, reducing by -6.2% against the previous year. Over the period under review, the import price recorded a mild contraction. The growth pace was the most rapid in 2014 an increase of 29%. As a result, import price attained the peak level of $15,638 per ton. From 2015 to 2022, the average import prices failed to regain momentum.

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 Germany ($16,650 per ton), while the price for Indonesia ($3,864 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+13.2%), 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 Hungary (FOB) - 2022

In 2022, the average export price for spices; cloves (whole fruit, cloves and stems), crushed or ground amounted to $8,919 per ton, with an increase of 13% against the previous year. Over the period under review, the export price, however, recorded a perceptible reduction. The growth pace was the most rapid in 2014 when the average export price increased by 237% against the previous year. As a result, the export price attained the peak level of $26,792 per ton. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Romania ($11,862 per ton), while the average price for exports to the Czech Republic ($7,582 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 Sweden (+22.3%), while the prices for the other major destinations experienced more modest paces of growth.

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

Imports of spices; cloves (whole fruit, cloves and stems), crushed or ground into Hungary rose sharply to 12 tons in 2022, surging by 15% against the previous year's figure. Over the period under review, total imports indicated a resilient increase from 2019 to 2022: its volume increased at an average annual rate of +13.9% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -5.6% against 2020 indices. The growth pace was the most rapid in 2020 when imports increased by 56%. As a result, imports attained the peak of 13 tons. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of spices; cloves (whole fruit, cloves and stems), crushed or ground expanded notably to $128K in 2022. The total import value increased at an average annual rate of +10.6% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of 31% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Import of Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Hungary (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Austria	61.6	82.5	63.5	60.5	-0.6%
Netherlands	29.5	30.8	39.6	30.5	1.1%
Romania	0.3	0.1	10.1	13.3	253.9%
Germany	2.6	5.0	4.9	10.8	60.7%
Indonesia	N/A	1.8	N/A	8.5	117.3%
Others	0.1	2.9	0.4	4.0	242.0%
Total	94.3	123	118	128	10.7%

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

Austria (4.8 tons)
Netherlands (3.0 tons)
Indonesia (2.2 tons)
Romania (1.0 tons)
Germany (0.7 tons)

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

In 2022, overseas shipments of spices; cloves (whole fruit, cloves and stems), crushed or ground decreased by -77.7% to 679 kg, falling for the second consecutive year after two years of growth. Over the period under review, exports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 29,153%. As a result, the exports reached the peak of 8.8 tons. From 2021 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of spices; cloves (whole fruit, cloves and stems), crushed or ground declined remarkably to $6.1K in 2022. In general, exports, however, showed significant growth. The growth pace was the most rapid in 2020 when exports increased by 21,992% against the previous year. As a result, the exports attained the peak of $59K. From 2021 to 2022, the growth of the exports of remained at a lower figure.

Export of Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Hungary (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Romania	0.1	0.6	1.6	1.8	162.1%
Czech Republic	N/A	N/A	1.1	1.8	63.6%
Malta	N/A	N/A	N/A	0.9	0%
Croatia	N/A	0.7	1.8	0.6	-7.4%
Greece	N/A	0.6	2.4	0.2	-42.3%
France	N/A	N/A	N/A	0.2	0%
Sweden	N/A	N/A	0.4	0.2	-50.0%
Germany	N/A	54.9	6.8	0.2	-94.0%
Moldova	N/A	N/A	1.9	N/A	0%
Italy	N/A	1.9	N/A	N/A	0%
Others	0.1	0.5	8.2	0.3	44.2%
Total	0.3	59.2	24.1	6.1	172.9%