Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Sri Lanka - 2022
Contents:
- Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Sri Lanka (FOB) - 2022
- Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Sri Lanka (CIF) - 2022
- Exports of Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Sri Lanka
- Imports of Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Sri Lanka
Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Sri Lanka (FOB) - 2022
In 2022, the average export price for spices; cloves (whole fruit, cloves and stems), crushed or ground amounted to $14,287 per ton, rising by 65% against the previous year. Overall, export price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for spices; cloves (whole fruit, cloves and stems), crushed or ground increased by +85.0% against 2020 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($18,008 per ton), while the average price for exports to Lebanon ($1,505 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 Canada (+9.4%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Sri Lanka (CIF) - 2022
The average import price for spices; cloves (whole fruit, cloves and stems), crushed or ground stood at $1,333 per ton in 2021, with a decrease of -91.4% against the previous year. Over the period under review, the import price recorded a dramatic curtailment. Over the period under review, average import prices reached the maximum at $24,400 per ton in 2017; however, from 2018 to 2021, import prices remained at a lower figure.
Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($1,000 per ton), while the price for the Netherlands amounted to $1,000 per ton.
From 2017 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (0.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Sri Lanka
In 2022, shipments abroad of spices; cloves (whole fruit, cloves and stems), crushed or ground decreased by -47.6% to 39 tons, falling for the second year in a row after two years of growth. In general, exports saw a sharp decline. The pace of growth appeared the most rapid in 2020 with an increase of 55%. As a result, the exports reached the peak of 141 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 to $560K in 2022. Over the period under review, exports recorded a abrupt slump. The pace of growth was the most pronounced in 2020 with an increase of 47% against the previous year. As a result, the exports attained the peak of $1.1M. 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 Sri Lanka (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 157 | 366 | 47.7 | 382 | 34.5% |
| South Africa | 5.4 | 13.2 | 16.9 | 94.7 | 159.8% |
| France | 4.9 | 5.8 | 17.2 | 30.0 | 82.9% |
| United Kingdom | 25.3 | 42.8 | 38.6 | 11.8 | -22.4% |
| Canada | 13.7 | 26.2 | 26.8 | 8.4 | -15.0% |
| Maldives | 1.0 | 1.2 | 2.4 | 7.3 | 94.0% |
| Lebanon | 3.9 | 7.7 | 4.1 | 4.8 | 7.2% |
| Saudi Arabia | 28.6 | 75.1 | 78.4 | 4.5 | -46.0% |
| Bolivia | 30.3 | 49.3 | 34.6 | N/A | 6.9% |
| Chile | 40.4 | 59.3 | 43.2 | N/A | 3.4% |
| Poland | 114 | 76.9 | 26.9 | N/A | -51.4% |
| Myanmar | N/A | N/A | 17.7 | N/A | 0% |
| Bahrain | 11.8 | 18.8 | 15.8 | N/A | 15.7% |
| Others | 303 | 345 | 276 | 17.0 | -61.7% |
| Total | 738 | 1,087 | 646 | 560 | -8.8% |
Top Export Markets for Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground from Sri Lanka in 2022:
- United States (21.2 tons)
- South Africa (7.3 tons)
- Lebanon (3.2 tons)
- France (2.4 tons)
- United Kingdom (1.7 tons)
- Canada (0.9 tons)
- Maldives (0.9 tons)
- Saudi Arabia (0.5 tons)
Imports of Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Sri Lanka
In 2021, imports of spices; cloves (whole fruit, cloves and stems), crushed or ground into Sri Lanka surged to 3 kg, growing by 50% on 2020 figures. Over the period under review, total imports indicated a significant expansion from 2020 to 2021: its volume increased at an average annual rate of +50.0% over the last one-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, imports of spices; cloves (whole fruit, cloves and stems), crushed or ground contracted remarkably to $4 in 2021. Overall, imports, however, showed a precipitous decrease.
| Import of Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Sri Lanka (USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2020 | 2021 | CAGR, 2020-2021 | ||
| Netherlands | N/A | 1.0 | 0% | ||
| Germany | N/A | 1.0 | 0% | ||
| Italy | 31.0 | N/A | 0% | ||
| Others | N/A | 2.0 | 0% | ||
| Total | 31.0 | 4.0 | -87.1% | ||
Top Suppliers of Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground to Sri Lanka in 2022:
- Netherlands (1.0 kg)
- Germany (1.0 kg)
1893
This report provides an in-depth analysis of the clove market in Sri Lanka.
6958
This report provides an in-depth analysis of the global clove market.
1893
This report provides an in-depth analysis of the clove market in Sri Lanka.
6958
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.
6669
In 2015, the country with the largest volume of the clove output was Indonesia (X thousand tons), accounting for X% of global production.
1919
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.
6669
In 2015, the country with the largest volume of the clove output was Indonesia (X thousand tons), accounting for X% of global production.
1919
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
