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

Contents:

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

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

The average export price for spices; cloves (whole fruit, cloves and stems), crushed or ground stood at $8,880 per ton in 2022, growing by 6.9% against the previous year. Over the period under review, the export price, however, showed a deep contraction. The growth pace was the most rapid in 2021 an increase of 41% against the previous year. Over the period under review, the average export prices hit record highs at $29,987 per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($35,000 per ton), while the average price for exports to the United States ($5,531 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 France (+2.0%), while the prices for the other major destinations experienced mixed trend patterns.

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

The average import price for spices; cloves (whole fruit, cloves and stems), crushed or ground stood at $13,907 per ton in 2022, increasing by 84% against the previous year. Over the period under review, the import price saw a significant expansion. The most prominent rate of growth was recorded in 2018 when the average import price increased by 466%. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain growth in years to come.

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 Madagascar ($14,543 per ton), while the price for Germany ($3,000 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+64.1%), 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 Turkey

In 2022, overseas shipments of spices; cloves (whole fruit, cloves and stems), crushed or ground decreased by -65.6% to 12 tons, falling for the second year in a row after two years of growth. Over the period under review, exports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 2,491% against the previous year. As a result, the exports attained the peak of 43 tons. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of spices; cloves (whole fruit, cloves and stems), crushed or ground declined dramatically to $107K in 2022. In general, exports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 746% against the previous year.

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

1. United States (8.9 tons)
2. Germany (1.2 tons)
3. Azerbaijan (0.7 tons)
4. Turkmenistan (0.5 tons)
5. Switzerland (0.4 tons)

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

In 2022, after three years of growth, there was significant decline in supplies from abroad of spices; cloves (whole fruit, cloves and stems), crushed or ground, when their volume decreased by -86.7% to 86 kg. Over the period under review, imports showed a precipitous curtailment. The pace of growth appeared the most rapid in 2021 with an increase of 127% against the previous year. As a result, imports attained the peak of 649 kg, and then declined rapidly in the following year.

In value terms, imports of spices; cloves (whole fruit, cloves and stems), crushed or ground shrank dramatically to $1.2K in 2022. Overall, imports faced a drastic downturn. The most prominent rate of growth was recorded in 2021 when imports increased by 57%. As a result, imports reached the peak of $4.9K, and then fell remarkably in the following year.

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

1. Madagascar (81.0 kg)
2. Singapore (2.0 kg)
3. Germany (1.0 kg)

Source: IndexBox Market Intelligence Platform