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

Contents:

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

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

In 2022, the average export price for spices; cloves (whole fruit, cloves and stems), neither crushed nor ground amounted to $9,569 per ton, rising by 21% against the previous year. Overall, export price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for spices; cloves (whole fruit, cloves and stems), neither crushed nor ground increased by +50.0% against 2020 indices. The most prominent rate of growth was recorded in 2013 when the average export price increased by 95%. As a result, the export price attained the peak level of $14,248 per ton. From 2014 to 2022, the average export prices failed to regain momentum.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Lithuania ($10,620 per ton) and Belarus ($10,297 per ton), while the average price for exports to Romania ($9,132 per ton) and Poland ($9,209 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+6.4%), while the prices for the other major destinations experienced mixed trend patterns.

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

The average import price for spices; cloves (whole fruit, cloves and stems), neither crushed nor ground stood at $9,243 per ton in 2022, rising by 29% against the previous year. In general, the import price, however, continues to indicate a mild contraction. The import price peaked at $13,135 per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat 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 Estonia ($20,738 per ton), while the price for Madagascar ($8,739 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Comoros (+0.5%), while the prices for the other major suppliers experienced a decline.

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

In 2022, exports of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground from Latvia soared to 114 tons, surging by 93% on the previous year's figure. Over the period under review, exports saw a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, exports of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground surged to $1.1M in 2022. Overall, exports showed a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

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

1. Russia (64.2 tons)
2. Poland (20.0 tons)
3. Romania (8.7 tons)
4. Ukraine (5.5 tons)
5. Belarus (4.4 tons)
6. Hungary (3.9 tons)
7. Czech Republic (2.4 tons)
8. Lithuania (2.4 tons)
9. Bulgaria (0.6 tons)

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

In 2022, imports of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground into Latvia soared to 110 tons, growing by 61% compared with the previous year. Over the period under review, imports recorded a buoyant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground surged to $1M in 2022. In general, imports enjoyed significant growth. As a result, imports attained 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 Latvia in 2022:

1. Madagascar (46.3 tons)
2. Germany (26.0 tons)
3. Comoros (25.0 tons)
4. Netherlands (10.7 tons)
5. Estonia (1.9 tons)

Source: IndexBox Market Intelligence Platform