Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Crushed or Ground in Thailand - 2024

Contents:

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

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

The average import price for spices; cloves (whole fruit, cloves and stems), crushed or ground stood at $12,277 per ton in 2022, shrinking by -26.1% against the previous year. Over the period under review, the import price, however, enjoyed temperate growth. The growth pace was the most rapid in 2016 an increase of 324%. As a result, import price attained the peak level of $21,560 per ton. From 2017 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Malaysia ($16,515 per ton), while the price for India amounted to $9,857 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (-3.0%), while the prices for the other major suppliers experienced a decline.

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

In 2022, the average export price for spices; cloves (whole fruit, cloves and stems), crushed or ground amounted to $8,286 per ton, remaining relatively unchanged against the previous year. Over the period under review, the export price continues to indicate significant growth. The most prominent rate of growth was recorded in 2013 when the average export price increased by 9,719% against the previous year. The export price peaked at $58,800 per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($10,000 per ton), while the average price for exports to China amounted to $8,105 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+59.5%).

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

In 2022, the amount of spices; cloves (whole fruit, cloves and stems), crushed or ground imported into Thailand dropped notably to 1.5 tons, waning by -41.7% compared with the year before. In general, imports showed a precipitous decline. The most prominent rate of growth was recorded in 2021 when imports increased by 31%.

In value terms, imports of spices; cloves (whole fruit, cloves and stems), crushed or ground contracted notably to $18K in 2022. Over the period under review, imports recorded a abrupt slump. The pace of growth was the most pronounced in 2021 when imports increased by 38% against the previous year. As a result, imports reached the peak of $42K, and then fell dramatically in the following year.

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

1. India (925.0 kg)
2. Malaysia (520.0 kg)
3. Vietnam (15.0 kg)

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

For the fourth year in a row, Thailand recorded growth in shipments abroad of spices; cloves (whole fruit, cloves and stems), crushed or ground, which increased by 425% to 21 kg in 2022. In general, exports showed a significant increase. As a result, the exports reached 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 $174 in 2022. Overall, exports continue to indicate significant growth. The pace of growth appeared the most rapid in 2021 when exports increased by 3,200% against the previous year. Over the period under review, the exports of attained the peak figure in 2022 and are likely to see steady growth in the near future.

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

1. China (19.0 kg)
2. Japan (2.0 kg)

Source: IndexBox Market Intelligence Platform