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

Contents:

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

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

The average export price for spices; cloves (whole fruit, cloves and stems), crushed or ground stood at $12,250 per ton in 2022, leveling off at the previous year. In general, the export price, however, enjoyed a prominent increase. The most prominent rate of growth was recorded in 2016 an increase of 60% against the previous year. The export price peaked at $12,575 per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to +22.0% per year.

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

In 2022, the average import price for spices; cloves (whole fruit, cloves and stems), crushed or ground amounted to $7,454 per ton, with an increase of 37% against the previous year. In general, the import price saw strong growth. The pace of growth was the most pronounced in 2018 when the average import price increased by 71%. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Comoros ($56,800 per ton), while the price for Turkey amounted to $5,680 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+16.5%).

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

For the fourth consecutive year, Pakistan recorded growth in shipments abroad of spices; cloves (whole fruit, cloves and stems), crushed or ground, which increased by 740% to 840 kg in 2022. Over the period under review, exports recorded significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, exports of spices; cloves (whole fruit, cloves and stems), crushed or ground soared to $10K in 2022. Overall, exports enjoyed significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

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

1. Saudi Arabia (840.0 kg)

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

In 2022, the amount of spices; cloves (whole fruit, cloves and stems), crushed or ground imported into Pakistan fell to 130 kg, waning by -9.7% compared with 2021 figures. Over the period under review, imports showed a precipitous curtailment.

In value terms, imports of spices; cloves (whole fruit, cloves and stems), crushed or ground surged to $969 in 2022. Overall, imports faced a precipitous decline.

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

1. Turkey (25.0 kg)
2. Comoros (5.0 kg)

Source: IndexBox Market Intelligence Platform