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

Contents:

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

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

The average import price for spices; cloves (whole fruit, cloves and stems), neither crushed nor ground stood at $2,957 per ton in 2022, with an increase of 6.1% against the previous year. Over the period under review, import price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of +3.0% 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 +89.4% against 2016 indices. The most prominent rate of growth was recorded in 2019 an increase of 47%. Over the period under review, average import prices reached the maximum in 2022 and is likely to see steady growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Sri Lanka ($13,259 per ton), while the price for Vietnam ($290 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+26.4%), 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 Turkey (FOB) - 2022

In 2022, the average export price for spices; cloves (whole fruit, cloves and stems), neither crushed nor ground amounted to $8,595 per ton, reducing by -8.3% against the previous year. Overall, the export price continues to indicate a pronounced reduction. The pace of growth was the most pronounced in 2021 an increase of 141%. Over the period under review, the average export prices reached the maximum at $10,813 per ton in 2012; however, from 2013 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 Azerbaijan ($34,014 per ton), while the average price for exports to Egypt ($4,975 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 Algeria (+58.7%), 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 Turkey

In 2022, overseas purchases of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground decreased by -9.7% to 384 tons, falling for the second year in a row after two years of growth. In general, imports showed a pronounced decline. The most prominent rate of growth was recorded in 2020 when imports increased by 62% against the previous year. As a result, imports reached the peak of 723 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 slightly to $1.1M in 2022. Over the period under review, imports recorded a mild downturn. The most prominent rate of growth was recorded in 2020 with an increase of 55% against the previous year. As a result, imports attained the peak of $1.8M. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.

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

1. Madagascar (161.1 tons)
2. Indonesia (133.8 tons)
3. Sri Lanka (26.9 tons)
4. Tanzania (25.2 tons)
5. Comoros (25.0 tons)
6. Vietnam (10.7 tons)

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

In 2022, after two years of decline, there was significant growth in overseas shipments of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground, when their volume increased by 19% to 97 tons. In general, exports, however, continue to indicate a deep slump.

In value terms, exports of spices; cloves (whole fruit, cloves and stems), neither crushed nor ground reached $832K in 2022. Over the period under review, exports saw a strong expansion. The most prominent rate of growth was recorded in 2021 with an increase of 83% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

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

1. United States (67.4 tons)
2. Syrian Arab Republic (6.2 tons)
3. Netherlands (4.1 tons)
4. United Kingdom (3.3 tons)
5. Iran (3.1 tons)
6. Egypt (3.0 tons)
7. Azerbaijan (1.8 tons)
8. Israel (1.0 tons)
9. Cyprus (0.6 tons)

Source: IndexBox Market Intelligence Platform