Price for Spices; Mace, Crushed or Ground in Hong Kong SAR - 2022
Contents:
- Price for Spices; Mace, Crushed or Ground in Hong Kong SAR (CIF) - 2022
- Price for Spices; Mace, Crushed or Ground in Hong Kong SAR (FOB) - 2022
- Imports of Spices; Mace, Crushed or Ground in Hong Kong SAR
- Exports of Spices; Mace, Crushed or Ground in Hong Kong SAR
Price for Spices; Mace, Crushed or Ground in Hong Kong SAR (CIF) - 2022
In 2022, the average import price for spices; mace, crushed or ground amounted to $18,840 per ton, rising by 29% against the previous year. Over the period under review, the import price, however, saw a pronounced setback. The most prominent rate of growth was recorded in 2020 an increase of 99%. As a result, import price reached the peak level of $31,741 per ton. From 2021 to 2022, the average import prices failed to regain momentum.
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 Vietnam ($28,938 per ton), while the price for Italy ($14,500 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+14.5%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Spices; Mace, Crushed or Ground in Hong Kong SAR (FOB) - 2022
The average export price for spices; mace, crushed or ground stood at $10,627 per ton in 2022, therefore, remained relatively stable against the previous year. In general, export price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, spices; mace, crushed or ground export price increased by +3.1% against 2018 indices. The pace of growth was the most pronounced in 2016 when the average export price increased by 33% against the previous year. The export price peaked in 2022 and is expected to retain growth in the near future.
As there is only one major export destination, the average price level is determined by prices for the Netherlands.
From 2012 to 2022, the rate of growth in terms of prices for the Netherlands amounted to +4.0% per year.
Imports of Spices; Mace, Crushed or Ground in Hong Kong SAR
Spices; mace, crushed or ground imports into Hong Kong SAR shrank sharply to 162 kg in 2022, reducing by -94.6% compared with 2021. Overall, imports continue to indicate a sharp setback. The most prominent rate of growth was recorded in 2021 when imports increased by 175%. As a result, imports attained the peak of 3 tons, and then reduced dramatically in the following year.
In value terms, spices; mace, crushed or ground imports dropped dramatically to $3.1K in 2022. Over the period under review, imports recorded a sharp setback. The pace of growth appeared the most rapid in 2020 when imports increased by 40%.
| Import of Spices; Mace, Crushed or Ground in Hong Kong SAR (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 15.7 | 11.9 | 34.1 | 2.4 | -46.5% |
| Vietnam | 6.8 | 4.2 | 6.9 | 0.5 | -58.1% |
| Italy | N/A | N/A | N/A | 0.1 | 0% |
| Germany | 1.2 | 0.6 | 1.0 | 0.1 | -56.3% |
| Malaysia | N/A | 16.1 | N/A | N/A | 0% |
| Others | 0.8 | 1.5 | 1.5 | 0.1 | -50.0% |
| Total | 24.5 | 34.3 | 43.4 | 3.1 | -49.8% |
Top Suppliers of Spices; Mace, Crushed or Ground to Hong Kong SAR in 2022:
- Indonesia (135.0 kg)
- Vietnam (16.0 kg)
- Italy (4.0 kg)
- Germany (3.0 kg)
Exports of Spices; Mace, Crushed or Ground in Hong Kong SAR
In 2022, the amount of spices; mace, crushed or ground exported from Hong Kong SAR dropped notably to 201 kg, which is down by -73.6% on the year before. In general, exports faced a dramatic contraction. The smallest decline of -18.8% was in 2020.
In value terms, spices; mace, crushed or ground exports dropped dramatically to $2.1K in 2022. Overall, exports continue to indicate a dramatic downturn. The smallest decline of -13.8% was in 2020.
| Export of Spices; Mace, Crushed or Ground in Hong Kong SAR (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 13.5 | 11.6 | 8.0 | 2.1 | -46.2% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 13.5 | 11.6 | 8.0 | 2.1 | -46.2% |
Top Export Markets for Spices; Mace, Crushed or Ground from Hong Kong SAR in 2022:
- Netherlands (200.0 kg)
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