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

Contents:

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

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

The average import price for spices; cloves (whole fruit, cloves and stems), neither crushed nor ground stood at $5,894 per ton in 2022, which is down by -13.3% against the previous year. Overall, the import price, however, saw a resilient expansion. The pace of growth was the most pronounced in 2018 when the average import price increased by 50% against the previous year. As a result, import price attained the peak level of $7,005 per ton. From 2019 to 2022, the average import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Sri Lanka ($6,883 per ton), while the price for Indonesia stood at $5,733 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+12.1%), 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 Saudi Arabia (FOB) - 2022

In 2022, the average export price for spices; cloves (whole fruit, cloves and stems), neither crushed nor ground amounted to $6,709 per ton, with an increase of 37% against the previous year. Overall, export price indicated a noticeable increase from 2013 to 2022: its price increased at an average annual rate of +2.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 when the average export price increased by 82%. Over the period under review, the average export prices reached the maximum at $8,438 per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Maldives ($8,151 per ton) and Bahrain ($6,793 per ton), while the average price for exports to Kuwait ($5,817 per ton) and Germany ($6,530 per ton) were amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (-1.8%), while the prices for the other major destinations experienced a decline.

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

In 2022, supplies from abroad of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground increased by 16% to 2K tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports, however, continue to indicate a perceptible curtailment.

In value terms, imports of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground amounted to $12M in 2022. In general, imports, however, showed a abrupt decrease.

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

1. Indonesia (1665.7 tons)
2. Sri Lanka (274.0 tons)

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

In 2022, approx. 25 tons of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground were exported from Saudi Arabia; waning by -51.9% against the previous year. In general, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 327% against the previous year. As a result, the exports attained the peak of 53 tons, and then declined markedly in the following year.

In value terms, exports of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground shrank rapidly to $171K in 2022. Overall, exports, however, showed a moderate expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 219% against the previous year. As a result, the exports attained the peak of $261K, and then dropped rapidly in the following year.

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

1. Bahrain (19.8 tons)
2. Germany (4.2 tons)
3. Maldives (0.6 tons)
4. Kuwait (0.4 tons)

Source: IndexBox Market Intelligence Platform