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

Contents:

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

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

The average export price for spices; cloves (whole fruit, cloves and stems), neither crushed nor ground stood at $7,740 per ton in 2022, increasing by 4.9% against the previous year. Overall, the export price, however, continues to indicate a abrupt shrinkage. The pace of growth was the most pronounced in 2021 when the average export price increased by 12%. Over the period under review, the average export prices reached the peak figure at $14,144 per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Indonesia ($8,125 per ton) and Singapore ($8,005 per ton), while the average price for exports to the United Arab Emirates ($6,553 per ton) and India ($7,204 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 Singapore (-4.1%), while the prices for the other major destinations experienced a decline.

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

In 2022, the average import price for spices; cloves (whole fruit, cloves and stems), neither crushed nor ground amounted to $697 per ton, which is down by -85% against the previous year. In general, the import price faced a abrupt setback. The growth pace was the most rapid in 2021 when the average import price increased by 35%. Over the period under review, average import prices hit record highs at $6,757 per ton in 2018; however, from 2019 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 the United Arab Emirates ($4,062 per ton), while the price for Japan totaled $80 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+34.6%).

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

In 2022, shipments abroad of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground decreased by -24% to 5.3K tons for the first time since 2018, thus ending a three-year rising trend. In general, exports, however, posted significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 570%.

In value terms, exports of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground fell notably to $41M in 2022. Over the period under review, exports, however, posted a significant expansion. The pace of growth appeared the most rapid in 2020 with an increase of 426%.

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

1. Singapore (2.5K tons)
2. Indonesia (1.5K tons)
3. India (0.9K tons)
4. United Arab Emirates (0.1K tons)

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

In 2022, imports of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground into Tanzania soared to 8.9 tons, rising by 20% on 2021. Overall, imports saw a significant expansion. The pace of growth appeared the most rapid in 2020 when imports increased by 101% against the previous year. Over the period under review, imports of reached the maximum in 2022 and are expected to retain growth in years to come.

In value terms, imports of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground shrank significantly to $6.2K in 2022. In general, imports, however, showed a dramatic downturn. The growth pace was the most rapid in 2020 with an increase of 22% against the previous year.

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

1. Japan (7.5 tons)
2. United Arab Emirates (1.4 tons)

Source: IndexBox Market Intelligence Platform