Price for Spices; Mace, Neither Crushed Nor Ground in India - 2023
Contents:
- Price for Spices; Mace, Neither Crushed Nor Ground in India (CIF) - 2023
- Price for Spices; Mace, Neither Crushed Nor Ground in India (FOB) - 2023
- Imports of Spices; Mace, Neither Crushed Nor Ground in India
- Exports of Spices; Mace, Neither Crushed Nor Ground in India
Price for Spices; Mace, Neither Crushed Nor Ground in India (CIF) - 2023
In November 2023, the average import price for spices; mace, neither crushed nor ground amounted to $14,991 per ton, which is down by -1.8% against the previous month. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in January 2023 an increase of 14% month-to-month. The import price peaked at $16,121 per ton in June 2023; however, from July 2023 to November 2023, import prices stood at a somewhat lower figure.
Average prices varied noticeably amongst the major supplying countries. In November 2023, the country with the highest price was Sri Lanka ($15,660 per ton), while the price for Indonesia stood at $14,969 per ton.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by Indonesia (-0.4%).
Price for Spices; Mace, Neither Crushed Nor Ground in India (FOB) - 2023
In November 2023, the average export price for spices; mace, neither crushed nor ground amounted to $18,219 per ton, shrinking by -21% against the previous month. In general, the export price showed a noticeable reduction. The pace of growth appeared the most rapid in September 2023 an increase of 130% m-o-m. Over the period under review, the average export prices reached the peak figure at $27,631 per ton in February 2023; however, from March 2023 to November 2023, the export prices failed to regain momentum.
There were significant differences in the average prices for the major export markets. In November 2023, the country with the highest price was Australia ($48,046 per ton), while the average price for exports to the United Arab Emirates ($8,553 per ton) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was recorded for supplies to Oman (+6.1%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Spices; Mace, Neither Crushed Nor Ground in India
In 2022, approx. 2K tons of spices; mace, neither crushed nor ground were imported into India; declining by -6.1% against 2021 figures. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by 41%. As a result, imports reached the peak of 2.1K tons, and then reduced in the following year.
In value terms, imports of spices; mace, neither crushed nor ground declined to $31M in 2022. The total import value increased at an average annual rate of +1.7% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 42%. As a result, imports attained the peak of $34M, and then shrank in the following year.
| Import of Spices; Mace, Neither Crushed Nor Ground in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 24.3 | 20.5 | 31.0 | 28.3 | 5.2% |
| Sri Lanka | 5.3 | 3.3 | 3.1 | 2.8 | -19.2% |
| Others | 0.2 | 0.3 | 0.2 | 0.2 | 0.0% |
| Total | 29.8 | 24.1 | 34.2 | 31.3 | 1.7% |
Top Suppliers of Spices; Mace, Neither Crushed Nor Ground to India in 2022:
- Indonesia (1819.5 tons)
- Sri Lanka (159.4 tons)
Exports of Spices; Mace, Neither Crushed Nor Ground in India
Exports of spices; mace, neither crushed nor ground from India contracted remarkably to 56 tons in 2022, dropping by -46.4% compared with the year before. Overall, exports, however, saw a tangible expansion. The most prominent rate of growth was recorded in 2021 with an increase of 194% against the previous year. As a result, the exports attained the peak of 105 tons, and then contracted remarkably in the following year.
In value terms, exports of spices; mace, neither crushed nor ground fell remarkably to $1.3M in 2022. Over the period under review, exports, however, continue to indicate significant growth. The pace of growth appeared the most rapid in 2021 with an increase of 145%. As a result, the exports reached the peak of $1.7M, and then declined sharply in the following year.
| Export of Spices; Mace, Neither Crushed Nor Ground in India (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 147 | 188 | 473 | 366 | 35.5% |
| Canada | 32.5 | 49.3 | 144 | 180 | 76.9% |
| Qatar | 115 | 160 | 128 | 173 | 14.6% |
| Bahrain | 10.4 | 5.0 | 52.2 | 62.4 | 81.7% |
| Austria | N/A | 45.9 | 48.4 | 58.0 | 12.4% |
| Singapore | 37.1 | 33.0 | 75.1 | 57.2 | 15.5% |
| Australia | 21.7 | 40.6 | 93.1 | 55.2 | 36.5% |
| Argentina | N/A | N/A | 241 | 42.1 | -82.5% |
| Nepal | 12.2 | 3.4 | 23.2 | 41.0 | 49.8% |
| United Kingdom | 5.4 | 15.7 | 18.1 | 36.3 | 88.7% |
| Bangladesh | N/A | 0.3 | 7.8 | 15.6 | 621.1% |
| Brazil | 61.3 | 30.0 | 45.1 | 9.1 | -47.1% |
| Egypt | N/A | N/A | 119 | N/A | 0% |
| Others | 291 | 138 | 271 | 185 | -14.0% |
| Total | 734 | 709 | 1,739 | 1,282 | 20.4% |
Top Export Markets for Spices; Mace, Neither Crushed Nor Ground from India in 2022:
- United States (13.4 tons)
- Qatar (7.0 tons)
- Canada (6.1 tons)
- Nepal (5.6 tons)
- Argentina (4.0 tons)
- Bahrain (2.6 tons)
- Austria (2.2 tons)
- Singapore (2.1 tons)
- Australia (2.0 tons)
- Bangladesh (2.0 tons)
- Brazil (1.0 tons)
- United Kingdom (0.9 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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