Price for Spices; Mace, Crushed or Ground in India - 2023
Contents:
- Price for Spices; Mace, Crushed or Ground in India (FOB) - 2022
- Price for Spices; Mace, Crushed or Ground in India (CIF) - 2022
- Exports of Spices; Mace, Crushed or Ground in India
- Imports of Spices; Mace, Crushed or Ground in India
Price for Spices; Mace, Crushed or Ground in India (FOB) - 2022
The average export price for spices; mace, crushed or ground stood at $21,833 per ton in 2022, which is down by -9.2% against the previous year. Overall, the export price, however, showed a buoyant expansion. The growth pace was the most rapid in 2014 when the average export price increased by 109%. The export price peaked at $24,047 per ton in 2021, and then fell in the following year.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($38,988 per ton), while the average price for exports to Bangladesh ($2,109 per ton) was amongst the lowest.
From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to New Zealand (+16.4%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Spices; Mace, Crushed or Ground in India (CIF) - 2022
The average import price for spices; mace, crushed or ground stood at $15,804 per ton in 2022, therefore, remained relatively stable against the previous year. In general, import price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +2.9% 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 import price increased by +69.7% against 2016 indices. The pace of growth appeared the most rapid in 2019 an increase of 51%. Over the period under review, average import prices attained the maximum at $15,933 per ton in 2021, and then fell slightly in the following year.
Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Sri Lanka ($20,960 per ton), while the price for Indonesia amounted to $15,744 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sri Lanka (+4.0%).
Exports of Spices; Mace, Crushed or Ground in India
In 2022, shipments abroad of spices; mace, crushed or ground decreased by -20.3% to 26 tons for the first time since 2018, thus ending a three-year rising trend. The total export volume increased at an average annual rate of +1.8% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when exports increased by 30%. As a result, the exports reached the peak of 32 tons, and then declined notably in the following year.
In value terms, spices; mace, crushed or ground exports declined notably to $563K in 2022. Over the period under review, total exports indicated noticeable growth from 2019 to 2022: its value increased at an average annual rate of +3.9% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +12.2% against 2019 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 41%. As a result, the exports reached the peak of $777K, and then contracted dramatically in the following year.
| Export of Spices; Mace, Crushed or Ground in India (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 216 | 325 | 365 | 149 | -11.6% |
| Canada | 14.4 | 22.7 | 33.2 | 71.7 | 70.8% |
| Japan | 30.9 | 32.4 | 53.2 | 63.8 | 27.3% |
| United Kingdom | 46.1 | 56.7 | 91.8 | 52.2 | 4.2% |
| Australia | 12.4 | 14.7 | 29.3 | 44.5 | 53.1% |
| Chile | 15.1 | 18.1 | 28.2 | 33.8 | 30.8% |
| United Arab Emirates | 12.7 | 14.9 | 18.4 | 22.1 | 20.3% |
| New Zealand | 1.6 | 4.9 | 3.8 | 20.5 | 134.0% |
| Malaysia | 2.3 | 1.3 | 11.5 | 13.8 | 81.7% |
| Ethiopia | 6.3 | 6.4 | 6.9 | 8.3 | 9.6% |
| Thailand | 0.2 | 2.4 | 5.7 | 6.8 | 224.0% |
| Nepal | 4.4 | 2.0 | 2.6 | 3.8 | -4.8% |
| Bangladesh | 1.3 | 1.0 | 1.4 | 1.7 | 9.4% |
| Others | 138 | 49.0 | 126 | 70.7 | -20.0% |
| Total | 501 | 551 | 777 | 563 | 4.0% |
Top Export Markets for Spices; Mace, Crushed or Ground from India in 2022:
- Canada (4.3 tons)
- United States (3.8 tons)
- Ethiopia (3.5 tons)
- Japan (2.3 tons)
- United Arab Emirates (1.9 tons)
- Australia (1.7 tons)
- United Kingdom (1.6 tons)
- Chile (1.2 tons)
- Bangladesh (0.8 tons)
- Nepal (0.6 tons)
- Malaysia (0.6 tons)
- New Zealand (0.6 tons)
- Thailand (0.6 tons)
Imports of Spices; Mace, Crushed or Ground in India
In 2022, after three years of growth, there was significant decline in purchases abroad of spices; mace, crushed or ground, when their volume decreased by -39.6% to 38 tons. Overall, imports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2021 when imports increased by 381%. As a result, imports reached the peak of 63 tons, and then declined significantly in the following year.
In value terms, spices; mace, crushed or ground imports reduced remarkably to $603K in 2022. In general, imports, however, posted significant growth. The most prominent rate of growth was recorded in 2021 when imports increased by 405% against the previous year. As a result, imports attained the peak of $1M, and then reduced markedly in the following year.
| Import of Spices; Mace, Crushed or Ground in India (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 141 | 185 | 982 | 593 | 61.4% |
| Sri Lanka | 9.8 | 10.7 | 24.4 | 9.2 | -2.1% |
| Others | N/A | 3.3 | N/A | N/A | 0% |
| Total | 151 | 199 | 1,006 | 603 | 58.7% |
Top Suppliers of Spices; Mace, Crushed or Ground to India in 2022:
- Indonesia (37.7 tons)
- Sri Lanka (0.4 tons)
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This report provides an in-depth analysis of the market for nutmeg, mace and cardamom in India.
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This report provides an in-depth analysis of the global market for nutmeg, mace and cardamom.
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In 2016, the nutmeg, mace and cardamom market peaked at X tons. Over the period from 2007 to 2016, consumption expanded with an annual average rate of growth of +X%. Following a slight decline in consumption from 2009-2010, the nutmeg, mace and
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In 2015, the countries with the highest levels of production in 2015 were Guatemala (X thousand tons), Indonesia (X thousand tons), India (X thousand tons), together accounting for X% of total output.
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