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

Contents:

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

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

The average import price for spices; cloves (whole fruit, cloves and stems), neither crushed nor ground stood at $7,173 per ton in October 2023, shrinking by -26.2% against the previous month. Overall, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in March 2023 an increase of 280% against the previous month. As a result, import price reached the peak level of $9,732 per ton. From April 2023 to October 2023, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was Singapore ($9,717 per ton), while the price for Indonesia totaled $5,011 per ton.

From December 2022 to October 2023, the most notable rate of growth in terms of prices was attained by Madagascar (-0.4%), 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 Malaysia (FOB) - 2022

In 2022, the average export price for spices; cloves (whole fruit, cloves and stems), neither crushed nor ground amounted to $7,168 per ton, declining by -19% against the previous year. Overall, the export price showed a mild shrinkage. The pace of growth appeared the most rapid in 2017 an increase of 65% against the previous year. As a result, the export price reached the peak level of $11,796 per ton. From 2018 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($16,426 per ton), while the average price for exports to Hong Kong SAR ($3,219 per ton) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Africa (+5.8%), 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 Malaysia

In 2022, imports of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground into Malaysia surged to 1.7K tons, jumping by 114% compared with the year before. Overall, imports recorded a significant expansion. The pace of growth was the most pronounced in 2020 with an increase of 184%. As a result, imports attained the peak of 2K 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 $12M in 2022. In general, imports continue to indicate a significant increase. The growth pace was the most rapid in 2020 with an increase of 229% against the previous year. As a result, imports reached the peak of $13M. From 2021 to 2022, the growth of imports of failed to regain momentum.

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

1. Madagascar (941.0 tons)
2. Singapore (345.1 tons)
3. Indonesia (323.2 tons)

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

In 2022, exports of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground from Malaysia reduced dramatically to 43 tons, with a decrease of -96.6% on the previous year's figure. Overall, exports faced a abrupt decline. The most prominent rate of growth was recorded in 2021 when exports increased by 2,864% against the previous year. As a result, the exports reached the peak of 1.3K tons, and then fell rapidly in the following year.

In value terms, exports of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground contracted markedly to $310K in 2022. Over the period under review, exports recorded a deep contraction. The growth pace was the most rapid in 2021 with an increase of 3,410% against the previous year. As a result, the exports attained the peak of $11M, and then fell markedly in the following year.

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

1. Hong Kong SAR (11.6 tons)
2. Thailand (11.5 tons)
3. Taiwan (Chinese) (9.2 tons)
4. New Zealand (4.3 tons)
5. Singapore (4.2 tons)
6. South Korea (1.0 tons)
7. United States (0.9 tons)

Source: IndexBox Market Intelligence Platform