Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in Germany - 2023

Contents:

1. Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in Germany (CIF) - 2023
2. Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in Germany (FOB) - 2023
3. Imports of Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in Germany
4. Exports of Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in Germany

Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in Germany (CIF) - 2023

In October 2023, the average import price for spices; cloves (whole fruit, cloves and stems), neither crushed nor ground amounted to $9,085 per ton, declining by -10.5% against the previous month. Over the period under review, the import price continues to indicate a slight decline. The pace of growth appeared the most rapid in April 2023 an increase of 79% m-o-m. Over the period under review, average import prices reached the peak figure at $10,386 per ton in October 2022; however, from November 2022 to October 2023, import prices stood at a somewhat lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was Sri Lanka ($12,205 per ton), while the price for Madagascar ($2,044 per ton) was amongst the lowest.

From October 2022 to October 2023, the most notable rate of growth in terms of prices was attained by Comoros (+3.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in Germany (FOB) - 2023

The average export price for spices; cloves (whole fruit, cloves and stems), neither crushed nor ground stood at $16,447 per ton in October 2023, surging by 29% against the previous month. Over the period under review, export price indicated a noticeable expansion from October 2022 to October 2023: its price increased at an average monthly rate of +4.1% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on October 2023 figures, export price for spices; cloves (whole fruit, cloves and stems), neither crushed nor ground increased by +41.8% against August 2023 indices. The most prominent rate of growth was recorded in February 2023 when the average export price increased by 30% month-to-month. Over the period under review, the average export prices hit record highs in October 2023.

Average prices varied somewhat for the major export markets. In October 2023, the country with the highest price was Switzerland ($17,103 per ton), while the average price for exports to the UK ($12,617 per ton) was amongst the lowest.

From October 2022 to October 2023, the most notable rate of growth in terms of prices was recorded for supplies to Norway (+5.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in Germany

In 2022, approx. 1K tons of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground were imported into Germany; growing by 3.2% on 2021 figures. The total import volume increased at an average annual rate of +4.8% from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 when imports increased by 24%. As a result, imports reached the peak of 1.1K tons. From 2021 to 2022, the growth of imports of remained at a lower figure.

In value terms, imports of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground surged to $8M in 2022. The total import value increased at an average annual rate of +7.8% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Top Suppliers of Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground to Germany in 2022:

1. Madagascar (476.7 tons)
2. France (141.7 tons)
3. Sri Lanka (117.6 tons)
4. Comoros (107.2 tons)
5. Netherlands (93.5 tons)
6. Tanzania (20.0 tons)
7. Indonesia (12.8 tons)

Exports of Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in Germany

In 2022, approx. 390 tons of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground were exported from Germany; picking up by 3.6% compared with the previous year's figure. Over the period under review, total exports indicated a resilient increase from 2019 to 2022: its volume increased at an average annual rate of +14.4% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -4.1% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 56% against the previous year. As a result, the exports attained the peak of 407 tons. From 2021 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground reached $3.9M in 2022. The total export value increased at an average annual rate of +12.6% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 with an increase of 38%. The exports peaked in 2022 and are expected to retain growth in the near future.

Top Export Markets for Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground from Germany in 2022:

1. Poland (112.2 tons)
2. Austria (83.8 tons)
3. France (22.3 tons)
4. Switzerland (21.4 tons)
5. Russia (18.9 tons)
6. Italy (18.7 tons)
7. Latvia (18.1 tons)
8. Netherlands (16.5 tons)
9. United States (14.0 tons)
10. Sweden (8.7 tons)
11. Czech Republic (7.9 tons)
12. Spain (7.4 tons)

Source: IndexBox Market Intelligence Platform