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

Contents:

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

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

In 2022, the average import price for spices; cloves (whole fruit, cloves and stems), neither crushed nor ground amounted to $5,906 per ton, picking up by 47% against the previous year. In general, the import price, however, recorded a deep slump. The import price peaked at $11,919 per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Indonesia ($6,139 per ton), while the price for Sri Lanka stood at $3,321 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (-6.4%), 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 Myanmar (FOB) - 2022

The average export price for spices; cloves (whole fruit, cloves and stems), neither crushed nor ground stood at $600 per ton in 2022, therefore, remained relatively stable against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average export price decreased by 99.9% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is likely to see gradual growth in years to come.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Switzerland ($6,667 per ton), while the average price for exports to the United Arab Emirates stood at $213 per ton.

From 2020 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (0.0%), 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 Myanmar

In 2022, supplies from abroad of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground decreased by -24.8% to 61 tons, falling for the second consecutive year after two years of growth. Over the period under review, imports, however, enjoyed a significant increase. The pace of growth was the most pronounced in 2020 when imports increased by 442% against the previous year. As a result, imports attained the peak of 138 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 sharply to $357K in 2022. In general, imports, however, continue to indicate significant growth. The growth pace was the most rapid in 2020 with an increase of 514%. As a result, imports reached the peak of $528K. 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 Myanmar in 2022:

1. Indonesia (55.5 tons)
2. Sri Lanka (5.0 tons)

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

In 2022, exports of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground from Myanmar was estimated at 50 kg, remaining relatively unchanged against the previous year's figure. In general, exports continue to indicate a precipitous shrinkage. The smallest decline of 99.9% was in 2021.

In value terms, exports of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground amounted to $30 in 2022. Overall, exports showed a sharp reduction. The smallest decline of 99.9% was in 2021.

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

1. United Arab Emirates (47.0 kg)
2. Switzerland (3.0 kg)

Source: IndexBox Market Intelligence Platform