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

Contents:

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

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

In 2022, the average import price for spices; cloves (whole fruit, cloves and stems), neither crushed nor ground amounted to $8,839 per ton, jumping by 43% against the previous year. Overall, import price indicated noticeable growth from 2012 to 2022: its price increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for spices; cloves (whole fruit, cloves and stems), neither crushed nor ground increased by +69.7% against 2020 indices. The import price peaked at $9,780 per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($8,865 per ton), while the price for Sri Lanka ($8,500 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+11.8%), while the prices for the other major suppliers experienced more modest paces of growth.

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

In 2022, the average export price for spices; cloves (whole fruit, cloves and stems), neither crushed nor ground amounted to $9,755 per ton, reducing by -12.7% against the previous year. Overall, the export price saw a pronounced slump. The most prominent rate of growth was recorded in 2015 when the average export price increased by 103%. The export price peaked at $17,867 per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($17,150 per ton), while the average price for exports to Italy ($6,241 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 Colombia (+2,043.3%), 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 Peru

In 2022, purchases abroad of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground decreased by -49.1% to 245 tons, falling for the second consecutive year after two years of growth. In general, imports showed a precipitous decrease. The most prominent rate of growth was recorded in 2020 when imports increased by 118% against the previous year. As a result, imports reached the peak of 1.1K tons. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground contracted dramatically to $2.2M in 2022. Over the period under review, imports faced a deep reduction. The pace of growth appeared the most rapid in 2020 with an increase of 62%. As a result, imports attained the peak of $5.5M. 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 Peru in 2022:

1. Indonesia (146.7 tons)
2. Madagascar (87.5 tons)
3. Sri Lanka (10.1 tons)

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

For the fourth consecutive year, Peru recorded growth in overseas shipments of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground, which increased by 20% to 1.3 tons in 2022. Over the period under review, exports showed significant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 705% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, exports of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground rose slightly to $13K in 2022. In general, exports posted a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 305%. The exports peaked in 2022 and are likely to continue growth in the near future.

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

1. United States (909.0 kg)
2. Italy (282.0 kg)
3. Japan (100.0 kg)
4. United Kingdom (35.0 kg)

Source: IndexBox Market Intelligence Platform