Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in Hong Kong SAR - 2023
Contents:
- Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in Hong Kong SAR (CIF) - 2022
- Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in Hong Kong SAR (FOB) - 2022
- Imports of Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in Hong Kong SAR
- Exports of Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in Hong Kong SAR
Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in Hong Kong SAR (CIF) - 2022
In 2022, the average import price for spices; cloves (whole fruit, cloves and stems), neither crushed nor ground amounted to $3,822 per ton, rising by 18% against the previous year. In general, the import price, however, showed a deep downturn. The pace of growth appeared the most rapid in 2014 when the average import price increased by 61%. As a result, import price reached the peak level of $10,184 per ton. From 2015 to 2022, the average import prices remained at a lower figure.
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 China ($8,689 per ton), while the price for Indonesia ($2,360 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+16.1%), while the prices for the other major suppliers experienced a decline.
Price for Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in Hong Kong SAR (FOB) - 2022
The average export price for spices; cloves (whole fruit, cloves and stems), neither crushed nor ground stood at $8,669 per ton in 2022, rising by 225% against the previous year. Overall, the export price, however, saw a pronounced contraction. Over the period under review, the average export prices reached the peak figure at $16,764 per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($21,689 per ton), while the average price for exports to the United States ($5,572 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 Australia (+1.4%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in Hong Kong SAR
In 2022, supplies from abroad of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground decreased by -10.9% to 35 tons, falling for the second consecutive year after two years of growth. In general, imports, however, continue to indicate a resilient increase. The pace of growth was the most pronounced in 2020 with an increase of 360%. As a result, imports attained the peak of 117 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 expanded significantly to $135K in 2022. Over the period under review, imports, however, showed a measured increase. The pace of growth appeared the most rapid in 2020 when imports increased by 329% against the previous year. As a result, imports attained the peak of $540K. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.
| Import of Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in Hong Kong SAR (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 60.9 | 300 | 74.2 | 50.8 | -5.9% |
| China | 22.8 | 199 | 6.9 | 39.4 | 20.0% |
| Malaysia | 34.5 | 21.0 | 36.7 | 21.1 | -15.1% |
| India | N/A | 15.9 | 4.8 | 16.9 | 3.1% |
| Others | 7.8 | 4.3 | 5.3 | 7.0 | -3.5% |
| Total | 126 | 540 | 128 | 135 | 2.3% |
Top Suppliers of Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground to Hong Kong SAR in 2022:
- Indonesia (21.5 tons)
- Malaysia (6.1 tons)
- China (4.5 tons)
- India (3.0 tons)
Exports of Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in Hong Kong SAR
In 2022, shipments abroad of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground decreased by -87.1% to 2.8 tons, falling for the second consecutive year after two years of growth. In general, exports faced a precipitous decrease. The pace of growth was the most pronounced in 2020 when exports increased by 282%. As a result, the exports attained the peak of 187 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), neither crushed nor ground reduced remarkably to $25K in 2022. Overall, exports saw a dramatic descent. The most prominent rate of growth was recorded in 2020 when exports increased by 301%. As a result, the exports reached the peak of $573K. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.
| Export of Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground in Hong Kong SAR (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 25.9 | 6.1 | 8.1 | 12.3 | -22.0% |
| Japan | 0.7 | 9.6 | 20.7 | 10.7 | 148.2% |
| Australia | 1.6 | 4.9 | 0.5 | 1.5 | -2.1% |
| Vietnam | N/A | 258 | N/A | N/A | 0% |
| South Africa | 108 | 206 | 29.1 | N/A | -48.1% |
| Mexico | N/A | 89.2 | N/A | N/A | 0% |
| Others | 6.6 | N/A | N/A | N/A | 0% |
| Total | 143 | 573 | 58.5 | 24.5 | -44.5% |
Top Export Markets for Spices; Cloves (Whole Fruit, Cloves and Stems), Neither Crushed Nor Ground from Hong Kong SAR in 2022:
- United States (2216.0 kg)
- Japan (495.0 kg)
- Australia (120.0 kg)
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This report provides an in-depth analysis of the clove market in Hong Kong SAR, China.
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This report provides an in-depth analysis of the global clove market.
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This report provides an in-depth analysis of the clove market in Hong Kong SAR, China.
7153
This report provides an in-depth analysis of the global clove market.
3118
Global clove consumption amounted to X thousand tons in 2015, lowering by -X% against the previous year level.
5143
Global clove exports amounted to X thousand tons in 2015, growing by +X% against the previous year level.
4714
Global clove imports amounted to X thousand tons in 2015, falling by -X% against the previous year level.
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In 2015, the country with the largest volume of the clove output was Indonesia (X thousand tons), accounting for X% of global production.
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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
3118
Global clove consumption amounted to X thousand tons in 2015, lowering by -X% against the previous year level.
5143
Global clove exports amounted to X thousand tons in 2015, growing by +X% against the previous year level.
4714
Global clove imports amounted to X thousand tons in 2015, falling by -X% against the previous year level.
6715
In 2015, the country with the largest volume of the clove output was Indonesia (X thousand tons), accounting for X% of global production.
1940
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
