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

Contents:

1. Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in Greece (CIF) - 2023
2. Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in Greece (FOB) - 2022
3. Imports of Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in Greece
4. Exports of Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in Greece

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

In October 2023, the average import price for spices; cloves (whole fruit, cloves and stems), neither crushed nor ground amounted to $22,536 per ton, rising by 75% against the previous month. Over the period under review, the import price enjoyed a strong expansion. The pace of growth was the most pronounced in April 2023 an increase of 103% m-o-m. Over the period under review, average import prices attained the peak figure in October 2023.

As there is only one major supplying country, the average price level is determined by prices for Belgium.

From October 2022 to October 2023, the rate of growth in terms of prices for Bulgaria amounted to +27.5% per month.

Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in Greece (FOB) - 2022

In 2022, the average export price for spices; cloves (whole fruit, cloves and stems), neither crushed nor ground amounted to $12,033 per ton, standing approx. at the previous year. Over the period under review, the export price saw a mild curtailment. The growth pace was the most rapid in 2016 an increase of 47% against the previous year. Over the period under review, the average export prices reached the peak figure at $13,705 per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Cyprus ($12,040 per ton), while the average price for exports to Ireland ($9,320 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 Cyprus (-1.1%), while the prices for the other major destinations experienced a decline.

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

In 2022, the amount of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground imported into Greece expanded remarkably to 92 tons, growing by 15% compared with the year before. Overall, total imports indicated a significant increase from 2019 to 2022: its volume increased at an average annual rate of +20.2% 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 decreased by -10.0% against 2020 indices. The pace of growth appeared the most rapid in 2020 with an increase of 93%. As a result, imports reached the peak of 103 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 $699K in 2022. Over the period under review, total imports indicated a significant expansion from 2019 to 2022: its value increased at an average annual rate of +24.2% 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 +91.7% against 2019 indices. The pace of growth appeared the most rapid in 2020 when imports increased by 68%. Imports peaked in 2022 and are expected to retain growth in years to come.

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

1. Madagascar (43.0 tons)
2. Germany (23.5 tons)
3. Comoros (11.0 tons)
4. Bulgaria (7.8 tons)
5. Netherlands (4.8 tons)
6. Spain (1.3 tons)
7. Italy (0.8 tons)

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

For the third year in a row, Greece recorded decline in shipments abroad of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground, which decreased by -8% to 10 tons in 2022. Over the period under review, exports saw a deep setback. The smallest decline of -1.8% was in 2021.

In value terms, exports of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground contracted to $120K in 2022. Overall, exports showed a abrupt decline. The smallest decline of -1.5% was in 2021.

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

1. Cyprus (9.3 tons)
2. Ireland (0.4 tons)
3. Albania (0.1 tons)

Source: IndexBox Market Intelligence Platform