Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Singapore - 2023
Contents:
- Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Singapore (CIF) - 2022
- Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Singapore (FOB) - 2022
- Imports of Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Singapore
- Exports of Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Singapore
Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Singapore (CIF) - 2022
In 2022, the average import price for spices; cloves (whole fruit, cloves and stems), crushed or ground amounted to $9,193 per ton, growing by 34% against the previous year. Overall, the import price, however, faced a deep setback. The import price peaked at $63,864 per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Malaysia ($16,732 per ton), while the price for Vietnam ($6,039 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+9.2%), while the prices for the other major suppliers experienced a decline.
Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Singapore (FOB) - 2022
The average export price for spices; cloves (whole fruit, cloves and stems), crushed or ground stood at $6,862 per ton in 2022, reducing by -6.1% against the previous year. In general, the export price continues to indicate a pronounced curtailment. The pace of growth was the most pronounced in 2020 an increase of 42% against the previous year. Over the period under review, the average export prices reached the maximum at $12,052 per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.
There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Malaysia ($11,829 per ton), while the average price for exports to Japan ($1,000 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 Mauritius (+9.1%), 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 Singapore
In 2022, the amount of spices; cloves (whole fruit, cloves and stems), crushed or ground imported into Singapore dropped to 5.3 tons, with a decrease of -7.8% compared with the previous year. Over the period under review, total imports indicated a resilient expansion from 2019 to 2022: its volume increased at an average annual rate of +12.9% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +51.3% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 64%. As a result, imports attained the peak of 5.7 tons, and then shrank in the following year.
In value terms, imports of spices; cloves (whole fruit, cloves and stems), crushed or ground skyrocketed to $48K in 2022. Overall, total imports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +18.8% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +67.7% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Singapore (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Vietnam | 0.4 | N/A | 2.3 | 18.7 | 260.2% |
| Madagascar | N/A | 4.2 | 12.2 | 13.1 | 76.6% |
| Malaysia | 1.8 | 11.4 | 6.7 | 11.9 | 87.7% |
| India | 2.8 | 4.1 | 5.0 | 0.6 | -40.2% |
| United States | 2.7 | 2.1 | 3.1 | N/A | 7.2% |
| Indonesia | 11.6 | 5.7 | 4.9 | N/A | -35.0% |
| Netherlands | 7.9 | 1.8 | N/A | N/A | -77.2% |
| Others | 1.6 | 3.0 | 5.1 | 4.0 | 35.7% |
| Total | 28.9 | 32.3 | 39.3 | 48.4 | 18.8% |
Top Suppliers of Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground to Singapore in 2022:
- Vietnam (3100.0 kg)
- Madagascar (1180.0 kg)
- Malaysia (714.0 kg)
- India (58.0 kg)
- United States (4.0 kg)
Exports of Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Singapore
In 2022, shipments abroad of spices; cloves (whole fruit, cloves and stems), crushed or ground was finally on the rise to reach 4.1 tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, faced a dramatic setback.
In value terms, exports of spices; cloves (whole fruit, cloves and stems), crushed or ground rose modestly to $28K in 2022. Overall, exports, however, faced a sharp downturn.
| Export of Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Singapore (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Brunei Darussalam | 2.2 | 0.1 | N/A | 11.5 | 73.6% |
| Mauritius | N/A | N/A | N/A | 8.5 | 0% |
| Malaysia | 195 | 46.9 | 11.1 | 6.0 | -68.7% |
| Australia | 1.8 | 0.6 | 1.0 | 1.3 | -10.3% |
| South Korea | 19.3 | 1.0 | N/A | N/A | -94.8% |
| Indonesia | 23.4 | N/A | N/A | N/A | 0% |
| Bangladesh | N/A | N/A | 14.2 | N/A | 0% |
| Others | 0.6 | 2.4 | 0.9 | 0.5 | -5.9% |
| Total | 242 | 50.9 | 27.3 | 27.8 | -51.4% |
Top Export Markets for Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground from Singapore in 2022:
- Brunei Darussalam (2400.0 kg)
- Mauritius (972.0 kg)
- Malaysia (510.0 kg)
- Australia (120.0 kg)
856
This report provides an in-depth analysis of the clove market in Singapore.
6955
This report provides an in-depth analysis of the global clove market.
856
This report provides an in-depth analysis of the clove market in Singapore.
6955
This report provides an in-depth analysis of the global clove market.
3070
Global clove consumption amounted to X thousand tons in 2015, lowering by -X% against the previous year level.
5106
Global clove exports amounted to X thousand tons in 2015, growing by +X% against the previous year level.
4689
Global clove imports amounted to X thousand tons in 2015, falling by -X% against the previous year level.
6668
In 2015, the country with the largest volume of the clove output was Indonesia (X thousand tons), accounting for X% of global production.
1916
Singapore dominates in the global clove trade. In 2014, Singapore exported X thousand tons of сlove totaling X million USD, X times over the previous year. Its primary trading partner was Malaysia, where it supplied X% of its total сlove exports
3070
Global clove consumption amounted to X thousand tons in 2015, lowering by -X% against the previous year level.
5106
Global clove exports amounted to X thousand tons in 2015, growing by +X% against the previous year level.
4689
Global clove imports amounted to X thousand tons in 2015, falling by -X% against the previous year level.
6668
In 2015, the country with the largest volume of the clove output was Indonesia (X thousand tons), accounting for X% of global production.
1916
Singapore dominates in the global clove trade. In 2014, Singapore exported X thousand tons of сlove totaling X million USD, X times over the previous year. Its primary trading partner was Malaysia, where it supplied X% of its total сlove exports
